Stocks to watch: Shares of firms like Azad Engineering, SBI, Zomato, Bata, Adani Shares, Paytm, and others will be in focus on Thursday’s trade.
Stocks To Watch on December 28: GIFT Nifty on the NSE IX traded 82 points, or 0.38 per cent, higher at 21,752, signaling that Dalal Street was headed for positive start on Thursday. Here’s a slew of stocks that will be in focus today for various reasons.
Banks, NBFCs: Shares of Banks and non-banking financial companies (NBFCs) are likely to be in focus on Thursday after RBI in its ‘Trend & Progress Report for 2022-23’ stated that the both the financial institutions remained sound and resilient with banks’ gross non-performing assets (GNPAs) at a decade-low.
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The report also stated that banks and NBFCs need to strengthen their balance sheet further, improve governance standards, and remain watchful on the rise in unsecured loans.
Azad Engineering: To debut on the bourses today. Grey Market Premium suggests a likely listing gain of over 50 per cent for the stock, following a strong response to its IPO.
Canara Bank: Canara Bank has given in-principle approval to initiate the process of listing its mutual fund subsidiary Canara Robeco AMC through an initial public offering of shares.
Paytm: As many as 912 crore merchant transactions were made using Paytm in Q2FY24, parent One97 Communications said on Wednesday.
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Zomato: The Directorate General of GST Intelligence, Pune Zonal Unit, has issued a show cause notice to the company as to why an alleged tax liability of Rs 401.70 crore along with interest and penalty for the period from 29 October 2019 to 31 March 2022 should not be demanded from the company.
Bata India: Has received a show cause notice, from sales tax Anna Salai Assessment division, proposing to levy tax of Rs 60.56 crore and interest thereon.
Adani Energy Solutions, Adani Total Gas: These Adani Group companies unveiled a new partnership, a new order win and a joint venture (JV) completion, in separate announcements on Wednesday.
Adani Energy has entered into a smart meter JV with Esyasoft Holdings’s smart metering solutions arm. Further, the company also won a Rs 3,000 crore order for a transmission project in Gujarat.
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Kansai Nerolac Paints: To sell Mumbai land, along with building, to Runwal Group for Rs 726 crore.
KPI Green Energy (KPI Energy): Board to meet on December 30 to consider bonus issue / increase in authorised capital / other business.
Mahindra & Mahindra (M&M): To offload up to 28.06 lakh equity shares, representing up to 0.58 per cent, of the existing issued and paid-up equity share capital of Brainbees Solutions Private Limited (‘Brainbees’) as part of the latter’s Initial Public Offering.
South Indian Bank: To raise up to Rs 1,750 crore by way of issue of equity shares on a right basis.
SBI: Hiked interest rates on retail and bulk deposits up to 50 basis points (bps) across different maturities, effective Wednesday.
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