Stocks to Watch: ITC, PVR, Coforge, IRCTC, IndiGo – Livemint

ITC: ITC Hotels’ luxury brand Mementos has signed a new property in Jaipur strengthening its presence in Rajasthan. Under this brand, ITC Hotels manages luxury properties. Last week the company has signed another hotel in Udaipur in Rajasthan. Both properties, the company added, will cater to the destination wedding segment.

Coforge Ltd: Shareholders of the company, earlier known as NIIT Technologies, including its controlling owner Baring Private Equity Asia, will sell securities worth as much as $750 million in a proposed American Depositary Receipts offering in the US. On Tuesday, Coforge filed an offer document informing the stock exchanges that its shareholders will sell ADRs in a US IPO.

Bank of Baroda: BOB Financial Solutions, a subsidiary of Bank of Baroda (BoB) on Tuesday said it has partnered with National Payments Corp. of India (NPCI) to launch BoB credit cards on the RuPay platform. Both Easy and Premier variants of BoB credit cards have been launched on the JCB International network and both cards support global acceptance.

Biocon: Biocon Biologics and its US-based partner Viatris Inc on Tuesday announced the introduction of two interchangeable biosimilar insulin injections in the American market. Biocon Biologics and Viatris Inc have launched Semglee (insulin glargine-yfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

Aviation stocks: The Ministry of Civil Aviation on Tuesday allowed resumption of meal services on all domestic flights, easing more of covid-induced curbs amid a steady decline in fresh daily cases. Since the onset of the pandemic, meal services were restricted only for flights whose duration lasts for more than two hours.

InterGlobe Aviation: Promoter of IndiGo is “unlikely” to raise funds through a share sale to institutional investors as previously planned, with air travel in India recovering from the worst of Covid infections, CEO Ronojoy Dutta has said. 

PVR: CEO Gautam Dutta said the multiplex chain operator is looking forward to having “the biggest quarter” in the January-March 2022 period of the ongoing fiscal as more states lift covid-19 related restrictions with a huge amount movie releases lined up in the coming months. The company is also bullish on audiences coming back to theatres with occupancy levels at theatres gradually inching towards pre-pandemic levels across the country.

IRCTC: Indian Railway Catering and Tourism Corporation, Mphasis, MindTree, Godrej Properties, Tata Power, PI Industries and SRF LTD are among the stocks that could possibly move from midcaps to largecap category in AMFI review, as per brokerage and research firm Edelweiss. New entrants like Zomato, Nykaa (FSN Ecommerce Ventures) and PolicyBazaar (PB Fintech) could also move to the largecap stocks category in the review. AMFI will release the official list in the first week of January 2022.

Dr Reddy’s: Pfizer Inc and the Medicines Patent Pool, a UN-backed public health organisation have announced the signing of a voluntary license agreement for Pfizer’s Covid-19 oral antiviral treatment. Dr. Reddy’s Laboratories, among the handful of Indian drug companies licensed to make a new covid-19 pill developed by Merck, said on Monday it was open to making a similar pill from Pfizer, thought to be even more effective.

Tanla Platforms: Premji Invest, the investment arm of Azim Premji’s endowment and philanthropic initiatives, is said to have invested in India’s largest CPaaS provider Tanla Platforms Ltd, the company’s CEO Uday Reddy announced on Tuesday. Tanla Platforms processes more than 800 billion interactions annually and about 63% of India’s A2P SMS traffic is processed through Trubloq, making it one of the world’s largest Blockchain use cases.

Cairn Oil & Gas: Has entered into a technical partnership with US-based Halliburton for raising 10-folds the reserve base at its offshore assets as well as for exploring shale oil and gas in Rajasthan. Cairn, a unit of mining group Vedanta, is investing $3-4 billion in exploration and production of oil and gas across its portfolio that consists of the prolific Rajasthan block, Ravva oil and gas field in Bay of Bengal and Cambay fields in western offshore.

IEX: Indian Energy Exchange (IEX) has fixed 6 December as the record date for the purpose of finding out the eligibility of shareholders entitled to the issuance of bonus equity shares. The company’s board has recommended a bonus issue of equity shares in the proportion of 2:1, subject to the approval of shareholders through postal ballot