The domestic market appeared to have started the week on a lukewarm basis as global peers and coronavirus fears showed poor signs. The SGX Nifty recorded at 8:10 a.m. with a minus of 60 points at 13,721 points.
Here are the top stocks to watch for during today’s session:
Reliance Industries: Reliance and its partner BP announced the first gas from the ultra-deep water gas field R Cluster in block KG D6 off the east coast of India on Friday. The two companies are developing three deep-water gas projects in Block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to cover 15 percent of India’s gas demand by 2023.
PVR: The company will raise up to Rs. 800 billion through equity.
Infosys: The company sold a third of its stake in Whoop Inc for approximately $ 10 million. Infosys made a USD 3 million investment in Whoop Inc. in December 2015.
Exide Industries: Life Insurance Corporation of India increased its stake in Exide Industries from 3.48 percent previously to 5.5 percent.
IDBI Bank: IDBI Bank managed to raise Rs 1,435 crore through its QIP. The lender had planned a base issue of 1,000 rupees and a greenshoe option in the same amount. The issue price of the QIP was set at Rs 38.6 per share, which corresponds to a discount of 5% on the QIP minimum price.
Punjab National Bank: PNB has raised over 3,788 rupees through its QIP issue. It approved the issuance of over 106 Crore shares at an issue price of Rs 35.5 per share, a 5% discount on the minimum price of the QIP.
Canara Bank: State-owned Canara Bank announced on Saturday that its exposure to Transstroy India Ltd is over Rs 678 billion under a syndicated loan agreement, and the borrower was declared a premeditated debtor in early 2018.
Mindspace Business Parks REIT: Vanguard Group Inc bought 51.19 lakh shares of Mindspace Business Park REIT at a price of Rs 321.88 per unit.
Shipping Corp: The government is likely to seek bids for the privatization of the Shipping Corporation of India this week, with buyers having until mid-February to submit their EoIs, an official said. The government plans to sell its entire 63.75 percent stake in Shipping Corporation and transfer control of its management.
Affle India: Promoter Affle Holdings PTE sold 4.57 percent of the shares for 3,756.44 rupees per share. The Nomura India Investment Fund Mother Fund bought 3.92 lakh shares at a price of 3,755 rupees per share. The Nomura Trust And Banking Co. bought 2.51 lakh shares at a price of Rs 3,755 per share. Employees Provident Fund Board, managed by Nomura Asset Management Malaysia SDN BHD, bought 1.34 lakh shares at a price of Rs 3,755 per share.
Pharmaceutical stocks: Pharmaceutical stocks are likely to be in focus today after Finance Minister Nirmala Sitharaman said on Friday that investments in research and development in medicine, biotechnology and pharmaceuticals were the order of the day.
Lupine: The company has received USFDA approval for colesevelam hydrochloride tablets, which are used to lower cholesterol levels.
KPR Mill: KPR Mills will invest 500 rupees in expanding the sugar mill operations.
Oberoi Realty: The company’s subsidiary, Evenstar Hotels, bought a hotel property in Worli, Mumbai for 1,040 rupees.
ONGC: The Oil and Natural Gas Corporation (ONGC) has started crude oil production from the Asokenagar-1 well in the Bengal Basin in the North 24 Parganas District.
IIFL finance: The Board of Directors has approved the investment in the correct issue of shares in Samasta Microfinance, a subsidiary of the company, at a price of Rs 15.91 per share for an amount of up to Rs 67.50.
Emami: Emami International FZE, the wholly owned subsidiary of Emami, has sold its entire 85% stake in Fravin, Australia. As a result, Fravin and its resigned subsidiaries Diamond Bio Tech Laboratories and Abache are no longer subsidiaries of Emami.