Nifty, Sensex likely to open with firm gains, hints SGX Nifty. Reliance Industries, Sula Vineyards among stocks to watch on Thursday.
Indian benchmark indices are expected to open firmly in green on weekly F&O expiry amid strong global cues. SGX Nifty hinted at a positive start for domestic equities as Nifty futures traded 111 pts or 0.61% up at 18361 levels. In the previous session, BSE Sensex plunged 635 pts or 1% to 61,067, while NSE Nifty 50 plummeted 186 pts to 18,199. “Given the concern over the resurgence of the pandemic once again along with recessionary fear, we expect market volatility to continue. In the meantime, investors would monitor US existing home sales data to be released today followed by GDP data of US and UK today,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Stocks in focus on 22 December, Thursday
Reliance Industries: RIL’s retail arm Reliance Retail Ventures Limited (RRVL) on Thursday signed definitive agreements to acquire a 100% equity stake in Metro Cash and Carry India Pvt Ltd, which operates under the ‘Metro India’ brand, for a cash consideration of Rs 2,850 crore. “Through this acquisition, Reliance Retail gets access to a wide network of METRO India stores located in prime locations across key cities, a large base of registered kiranas and other institutional customers, strong supplier network,” Mukesh Ambani’s Reliance said in a statement.
Sula Vineyards: Shares of India’s largest wine producer will debut on the bourses on December 22. The issue price has been fixed at Rs 357 per share. Analysts expect the listing to be on par with or at a discount to the issue price, judging from tepid investor response to the IPO, and subdued equity market sentiment. On the grey market, Sula Vineyards shares were trading at a 3-4% discount, ahead of the listing.
Bandhan Bank: Bandhan Bank has received a Rs 801-crore binding bid from an ARC on the security receipt consideration basis for group loan and small business and agri loan (SBAL) written-off portfolio with outstanding of Rs 8,897 crore. “The bank shall go for bidding as per the Swiss challenge method and decision of sale shall be taken as per extant guidelines governing Swiss challenge method and the relevant policy of the bank,” the lender said.
Read More: Bank holidays 2023: Banks to remain closed on these days; check month-wise list
Speciality Restaurants: The company has received board approval for issue of 60 lakh warrants convertible into equity shares on preferential basis, at a price of Rs 212.05 per warrant. An amount equivalent to 25% of the warrant issue price (i.e. Rs 53.02 per warrant) will be payable at the time of subscription and allotment of each warrant, and the balance 75% of the warrant issue price (Rs 159.03 per warrant) will be payable on the exercise of warrants on or before April 30, 2023.
Supriya Lifescience: The company has signed an agreement with Pune-based Enrich Energy to develop 4.68 MWp DC solar photovoltaic power project at Nanded in Maharashtra. This project will generate & supply green energy to fulfill about 50 percent present consumption of the company & reduce carbon emission equivalent to 6,830 tons per annum.
Lyka Labs: The company has signed an agreement to acquire animal healthcare business from Agilis Healthcare. In November, it had proposed acquisition of animal healthcare business.
Kwality Pharmaceuticals: The company has received approval from Brazil’s National Health Surveillance Agency ANVISA (Agencia Nacional de Vigilancia Sanitaria) for its injectable formulations manufacturing unit at Amritsar and oncology injectable unit at Himachal Pradesh. The approval allows the company to market its products in the Brazilian pharmaceutical market.
