Stocks to watch: Shares of firms like SBI, Infosys, Airtel, Mamaearth, Ashok Leyland, HDFC Bank, and others will be in focus on Wednesday’s trade.
Stocks To Watch on December 6: Nifty futures at GIFT Nifty were trading 0.12% higher at 21,025 around 7.05 am, indicating a positive start for the stock markets on Wednesday. Here are the top stocks that are likely to be in focus today:
HDFC Bank: The private sector lender has sought approval from shareholders for re-appointment of Sashidhar Jagdishan as managing director and chief executive officer of the bank and the appointment of V Srinivasa Rangan as executive director of the bank
Read More: Upcoming IPO: Doms Industries’ issue to open on December 13
Infosys: Infosys said it has received a communication for collection of penalty from an overseas authority.
State Bank of India: India’s largest lender, State Bank of India, is acquiring 20% stake in SBI Pension Funds for Rs 229.5 crore. The stake is held by SBI Capital. With this transaction, the lender’s stake in SBI Pension Funds will hit 80%.
Bharti Airtel: Has received an order for penalty of Rs 3.95 lakh under the CGST Act. The company said it does not agree with the order and will take appropriate action.
Bank of India: The public sector lender has launched a qualified institutional placement (QIP) at floor price of 105.42 rupees apiece, it said in a regulatory filing on Monday. It is reportedly looking to raise up to Rs 4,500 crore.
Read More: SpiceJet Share Jumps 3% After NCLT Rejects Insolvency Plea By Lessor Willis Lease
Canara Bank: The public sector will likely issue AT-1 bonds in December to raise up to Rs 2,000 crore to Rs 3,000 crore. The issue is likely to have a call option at end of five years. Canara Bank last raised Rs 2,000 crore in September 2022 through AT-1 bonds at 7.99% coupon.
Honasa Consumer: Fireside Ventures Investment Fund I has offloaded Rs 230.15 crore worth of shares in Honasa Consumer, the parent company of the beauty and personal care products brand Mamaearth. About 60.88 lakh shares were sold at an average price of Rs 378 apiece.
Ashok Leyland: Has raised its stake in Switch Mobility’s holding company to 92.19% from 91.63%. It had deployed around Rs 662.5 crore as the first tranche of a planned ₹1,200 crore investment.
Somany Ceramics: Has fixed 15 December as the record date for its Rs 125 crore share buyback at Rs 850 apiece.
Read More: YES Bank, Adani Enterprises, Suzlon Energy: Trading Strategies for these buzzing stocks
Power Grid Corp: Has emerged as the successful bidder to set up an inter-state transmission system project in Gujarat. The project comprises setting up a new 765/400kV switching station at Vataman in Ahmedabad, three 765kV D/C transmission lines, as well as extension works at Navsari and Halvad substations.
Eicher Motors: Royal Enfield, part of Eicher Motors, on Tuesday said it has ventured into the pre-owned bike segment. Royal Enfield has introduced Reown, a new company-operated, pre-owned motorcycle business venture, that allows existing and prospective customers to buy or sell their Royal Enfield motorcycles, and exchange their motorcycles and upgrade to a new bike with ease.
DISCLAIMER:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
