SGX Nifty hints at a positive start for NSE Nifty 50 and BSE Sensex. Bharti Airtel, Delhivery, Dabur India among stocks to watch on Wednesday, 20 December.
Indian benchmark indices are likely to open in green, hinted SGX Nifty. Amid mixed global cues, Nifty futures traded 0.27% higher at 18475 on the Singapore Exchange. In the previous session, BSE Sensex declined 104 points to 61,702, while NSE Nifty 50 fell 35 points to 18,385. “Going forward, Nifty is likely to trade within 18200-18500 range in the comparable period, and any decisive breach on either side could only dictate the near-term trend. From here on, selective stocks could outperform the market; hence, we advocate the participants to remain selective and focus on the stock-specific approach for better trading opportunities,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One.
Stocks in focus on 21 December, Wednesday
Bharti Airtel: Bharti Airtel has acquired an 8% stake in Bengaluru-based technology startup Lemnisk for an undisclosed amount to strengthen its communication product that it offers to enterprises. Lemnisk offers real-time marketing automation and secure customer data platform (CDP). Airtel will start leveraging Lemnisk’s solutions across its digital businesses including Ad-tech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel Xstream) and Digital Marketplace (Airtel Thanks App).
Delhivery: Logistics firm Delhivery will acquire Pune-based supply chain solutions provider Algorhythm Tech to strengthen its offerings in this space. Post completion of the transaction, which is expected to be completed by next month, Algorhythm Tech will operate as a wholly-owned subsidiary of the company, Delhivery Ltd said, without disclosing the deal size.
NTPC: The state-owned power giant on Tuesday said that the NTPC Group including joint ventures and arms crossed 3GW of operational renewable energy (RE) capacity. The NTPC Group achieved this milestone with commissioning of first part capacity of 100 MW out of 300 MW Nokhra Solar PV Project at Bikaner, Rajasthan on 20 December, the company said in a statement.
Dabur: Investment vehicles owned by Amit Burman and Saket Burman, members of the Burman family that owns a majority stake in Dabur India Ltd, sold approximately 1% of their shares on Tuesday, raising over Rs 1,000 crore. “The purpose of doing this transaction is to raise funds for financing some ventures in private hands of the Burman family,” the company said in an exchange filing. Amit Burman, non-executive director at Dabur, sold his shares through his vehicle Gyan Enterprises Pvt Ltd, while Saket Burman, the vice-chairman of Dabur India Ltd, sold his shares via investment vehicle Chowdry Associates.
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GAIL India: The company has raised Rs 1,575 crore via issuance of 15,750, 7.34% non-convertible debentures (Series-I) of Rs 10 lakh on a private placement basis.
VIP Clothing: The company has sold its Umbergaon factory and raised Rs 10.41 crore. The capital gained by selling this asset will now be utilised in business at a different level from production, technology, innovation and marketing.
City Union Bank: The private sector lender has announced divergence in NPAs to the tune of Rs 259 crore consisting of 13 borrower accounts (with an outstanding balance of more than Rs 1 crore) for an amount of Rs 230 crore and 218 borrowers (with an outstanding balance of less than Rs 1 crore) for an amount of Rs 29 crore for the year ended March 2022. Also, there was a divergence in provisioning to the tune of Rs 40 crore for the same period. The divergence is the difference between NPAs reported by the bank and assessed by the RBI.
Jubilant Ingrevia: The company has raised Rs 150 crore via the issuance of commercial papers. The date of maturity is February 2023, with a coupon rate of 7.05 percent per annum.
Mindspace Business Parks REIT: The company has completed the issuance of commercial papers of Rs 100 crore. CRISIL has rated these commercial papers as ‘A1+’. The funds will be utilised towards the working capital requirements of Mindspace REIT’s asset SPVs.
