Economy

Stocks To Watch Today 9 Dec – Indian Energy Exchange, Gland Pharma, United Breweries, Coffee Day, Nazara Tech

The majority of Asian stocks rose on Thursday, as traders predicted that the global recovery would withstand the new virus strain. Treasuries remained stable after a period of decline.

The MSCI Asia Pacific equities index rose for a third day, with Hong Kong leading the way. After the S&P 500 and the technology-heavy Nasdaq 100 extended their rally, US contracts remained stable.

As of 7:55 a.m., the Singapore-traded SGX Nifty, a leading indicator of India’s Nifty 50 Index’s performance, was up 0.43 percent to 17,560.

Here are some stocks to keep an eye on today in the market:

Reliance Industries: Reliance Industries, Mahindra & Mahindra, Mahindra & Mahindra, Mahindra & Mahindra, Mahindra BP Mobility Ltd., doing business as Jio-bp, and Mahindra Group have signed a non-binding memorandum of understanding to explore the creation of electric vehicles and services, as well as identifying synergies between low-carbon and conventional fuels.

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NHPC: Approved Lanco Teesta Hydro Power Ltd.’s merger with self.

Gland Pharma received tentative approval for Cangrelor injection from the US Food and Drug Administration. A 180-day exclusivity period for generic drugs may be available to the company.

Vedanta: On December 11, the board of directors will consider a second interim dividend on equity shares.

SEBI issued a show cause notice to Coffee Day Enterprises over fund flow from subsidiaries, which surfaced after an investigation into the letter left by late managing director V.G. Siddhartha. The company claims it will handle the show cause notice properly as advised.

Can Fin Homes: The company will consider paying an interim dividend on December 14th.
United Breweries: Against the CCI order dated Sept. 24, the company filed an appeal with the National Company Law Appellate Tribunal.

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Nazara Technologies: The company now owns 69.18 percent of Publishme Global FZ-LLC, a Turkish full-service games marketing agency, through its wholly owned subsidiary, Nazara Technologies FZ-LLC.
The Indian Energy Exchange has approved the issuance of two-for-one bonus shares.

HCL Technologies: Acquires Gesellschaft für Banksysteme GmbH from Deutsche Apotheker und Arztbank eG (apoBank), Germany’s largest cooperative primary bank (gbs). HCL will own 51 percent of gbs after the closing, while apoBank will own 49 percent.Ircon International has given RailTel a Rs 210.7 crore order for a tunnel communication system on the Dharam-Banihal section of the Jammu Kashmir Rail Link Project.

IndiaBulls Housing Finance: Announces a public offering of national credit default swaps (NCDs) worth up to Rs 1,000 crore.

CRISIL AA+/Stable and A1+ for long-term and short-term assigned to Balrampur Chini Mills.

UPL: Invested Rs 1.3 crore in Allfresh Supply Management Pvt. Ltd’s 2,996 compulsorily convertible preference shares.

SBI Mutual Fund, Axis Mutual Fund, Plutus Wealth Management LLP, and White Oak Capital will receive preferential equity shares worth Rs 225 crore from Neogen Chemicals. The EGM has been set for December 31.

JSW Steel claims to have maintained its ‘A-‘ leadership rating in the CDP Climate Change Assessment for 2021.

Asian Paints: Responded to an InGovern report alleging that the company engaged in transactions with some of its related parties while failing to mitigate alleged conflicts of interest.
Offerings \sRate

At the end of day two, the Gain Travel IPO had a 75% subscription rate.

At the end of day one, 89 percent of the Shriram Properties IPO was subscribed.

Today is the first day of the IPO for MapMyIndia.

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Share the specifics of your pledge

Mindspace Business Parks is a company that specialises in developing business parks. On December 6, promoter Chandru L. Raheja issued a pledge of 93,75,389 shares.

Nxtdigital: On December 4, promoter Hinduja Group Ltd. purchased 52.76 lakh shares. On December 4, promoter Ashok Parmanand Hinduja purchased 2.78 lakh shares.

On December 6, promoter Neel Raheja purchased 12,000 shares in Shoppers Stop. On December 7, promoter Inox Chemicals sold 62,458 shares in Gujarat Flourochemicals.

On December 7, ICICI Securities met with Spark Capital Advisors (India) Pvt. Ltd.

On December 8, Federal Bank met with White Oak Capital Management.

On December 9, Dixon Technologies will meet with Millintonia Capital and Capital Group, and on December 14, it will meet with Taiyo Pacific Partners and Edmond de Rothschild.

Fino Payments Bank: On December 8, Fino Payments Bank met with Aditya Birla Sun Life AMC.

On December 9, Lemon Tree Hotels will participate in a virtual conference hosted by Systematix Institutional Equities.

On December 8, ICICI Prudential: Met Surveyor Capital.

On December 8, Chalet Hotels met with FSSA (First State Investments).

On December 8, Reliance Industries attended the Goldman Sachs CIO Tour; on December 9, Max Healthcare will attend the Edelweiss Wealth Management/Emerging Ideas Conference 2021; and on December 13, CRISIL will meet with L&T Mutual Funds.

Tweaks in Trading

Ansal Housing, IFCI, The Motor & General Finance’s price band was reduced from 20% to 10%.
IL&FS Investment Managers, Ansal Housing Limited, and The Motor & General Finance have been shortlisted for the Long-Term ASM Framework.

63 Moons Technologies, Rajdarshan Industries, Satin Creditcare Network, Patel Engineering, Reliance Industrial Infrastructure, Ramky Infrastructure, Celebrity Fashions, and RattanIndia Power have been shortlisted in the Short-Term ASM Framework.

Actions of Analysts

IDBI Capital upgrades Berger Paints to a ‘buy’ rating, with a price target of Rs 870.

Gujarat Elara Securities downgrades Petronet to ‘accumulate,’ with a price target of Rs 358.

Elara Securities downgrades Petronet LNG to ‘accumulate,’ with a price target of Rs 266.

JPMorgan initiates coverage on United Breweries with a ‘overweight’ rating and a price target of Rs 1,820.

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