Stocks to watch: Zomato, Adani Enterprises, SBI, ONGC, AstraZeneca Pharma and more | Business Upturn

Stocks to watch: Zomato, Adani Enterprises, SBI, ONGC, AstraZeneca Pharma and more

Stocks to Watch Today: Zomato is rumoured to be the subject of a block deal on Wednesday.

Due to subdued global cues from the foreign markets, the major benchmark indices are likely to open trading on a calm tone. The GDP figures, which will be released after market close on Wednesday, will be closely watched by the equities markets.

Zomato: Following news that Alibaba Group Holding intends to sell an approximate 3% stake worth $200 million through a block deal today, shares of the food delivery startup are anticipated to draw attention. Through its financial affiliate Ant Group, the Chinese e-commerce behemoth now has a 13.3% interest in Zomato.

Adani Enterprises: After Adani Properties on Tuesday won the contract for the restoration of Dharavi, Mumbai, with an offer worth Rs 5,069 crore, shares of the flagship Adani Group company and other connected firms are anticipated to experience some movement. In 17 years, the project is supposed to be finished.

SBI: On Tuesday, the bank’s Executive Committee gave its approval to a plan to raise up to Rs 10,000 crore through infrastructure bonds during FY23 (including a green shoe option of Rs 5,000 crore).

Britannia Industries: The business has partnered with French cheese producer Bel SA to create, produce, market, distribute, trade, and sell cheese products in India and other countries.

Gland Pharma: To grow its contract research and manufacturing operations in Europe, the company has entered into a put option agreement to buy French company Cenexi Group for an equity value not to exceed 20 million euros (about Rs 1,000 crore).

ONGC: According to sources, the government-appointed Kirit Parikh review panel has recommended a floor price of $4 per million British thermal units and a ceiling price of $6.5 million British thermal units for natural gas produced from legacy fields of state-owned companies for five years, as opposed to the current rate of $8.57.

Spandana Sphoorty Financial: The board of the company will meet on December 2 to discuss and approve raising money through the issuance of debentures through a private placement.

Rice-related: To encourage the sale of the product, the government on Tuesday abolished the ban on the export of organic non-basmati rice, including broken rice. From April to September of this fiscal year, rice exports totaled $5.5 billion. In the years 2021 to 2022, it was $9.7 billion.

Biocon: The company’s division Biocon Biologics has finished the multi-billion dollar acquisition of its business partner Viatris Inc.’s global biosimilars division. In February 2022, Biocon Biologics signed a contract to buy the biosimilars division of Viatris Inc. for up to $3.33 billion (about Rs 24,990 crore).

AstraZeneca Pharma: The pharmaceutical company has been given permission by the regulatory body to commercialise diabetes medications. Both individuals with CKD and those without diabetes are eligible for the approval, it was added.

Union Bank: To replace expiring instruments and maintain activity, the state-owned bank has obtained Rs 2,200 crore in capital through tier II bonds.

Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance, and PNB are the stocks that are subject to a F&O restriction on Wednesday.