Persistent FII selling, fears of faster stimulus withdrawal in US and monthly expiry related pressure could weigh on the market sentiment on Thursday. Meanwhile, here the top stocks to focus in trade today.
Reliance Industries: The company’s board has decided to implement a Scheme of Arrangement (Scheme) to transfer Gasification Undertaking into a wholly-owned subsidiary (WOS). The Scheme will be executed as a going concern on slump sale basis for a lump sum consideration equal to the carrying value as on the appointed date.
Asian Paints: The Dani family, one of the promoters of India’s largest paint firm, Asian Paints has come under fire from proxy advisory firm InGovern after the latter pointed out several related party transactions between Asian Paints and Paladin Paints & Chemicals, a private company owned by the Danis.
“A lack of detailed disclosure and intent of procuring such a high percentage from companies, including Paladin – that are owned by promoters of Asian Paints — is strange.”, said InGovern. READ MORE
PVR: The film exhibition major expects full recovery in the March quarter with a slew of big-ticket Bollywood movies set to be released as moviegoers venture out of their homes more. PVR is currently experimenting with gaming and has received a good response. Here’s what Gautam Dutta, chief executive officer of PVR has to say. READ MORE
AU Small Finance Bank: Informed the stock exchanges that CRISIL Ratings has revised its rating outlook on the fixed deposit programme and long-term debt instruments to ‘Positive’ from ‘Stable’.
SRF: The management has indicated a strong second half in the current financial year for each of its key segments of chemicals, packaging films and technical textiles. Most brokerages also remain positive about its earnings trajectory. READ MORE
Dixon Technologies: Taiwanese IT hardware firm Acer has roped in domestic electronic manufacturing services firm Dixon Technologies for making up to 5 lakh laptops in India for the former company. READ MORE
Ashok Leyland: In a move to strengthen its presence in green mobility, Ashok Leyland is set to come up with products in compressed natural gas (CNG) and liquefied natural gas (LNG) segments. To give a push towards this, the company has dedicated its existing testing facility in Hosur towards alternative fuel and is aiming to have a complete portfolio of commercial vehicles in this space in the next 2-3 years. READ MORE
Tanla Platforms: Tanla Platforms Limited, a leading global cloud communications company, informed exchanges, that it has been recognized in the Gartner’s “2021 Competitive Landscape for Communications Platform as a Service” (CPaaS)
Emami Group stocks: The Emami group stocks may be in focus on reports that Manipal Hospitals is in advanced stages of talks to acquire AMRI Hospitals from Emami Group. According to sources, the value of the deal is likely around Rs 1,100 crore. READ MORE
Siemens: The company reported 1.4 per cent decline in September quarter net profit for the quarter ended September 2021 at Rs 323 crore as against Rs 327.60 crore in the corresponding quarter a year ago. Total income, however, was up 13.4 per cent at Rs 4,061.30 crore from Rs 3,580.40 crore.
Airline stocks: Civil Aviation Secretary Rajiv Bansal on Wednesday said that International passenger flights are expected to regularise possibly by the end of the year. The move comes close on the heels of India reopening its borders to foreign tourists from November 15 amid pressure from travel companies, foreign governments, and members of the Indian diaspora. READ MORE
SBI, Axis Bank, Canara Bank: The three commercial banks are likely to raise about Rs 7,500 crore in capital through additional tier I (AT I) bonds before the end of December 2021. The country’s largest lender, SBI, is looking at raising an additional Rs 4,000 crore, Axis Bank Rs 2,000 crore and Canara Bank Rs 1,500 crore. READ MORE
Onward Technologies: The company’s board has approved the acquisition of 100 per cent equity shares and preference shares of NV Pune Technology Park Private Limited.
Tube Investments: The company has acquired 25 per cent stake in Aerostrovilos Energy Private Limited.
James Warren Tea: The company has scheduled its board meet on November 29 to consider a proposal for share buyback.
Results today: Alpha Hi-Tech Fuel, Kovai Medical Center, Padmanabh Alloys & Polymers and Wanbury.
Stocks in F&O ban: Escorts and Indiabulls Housing Finance are the only two stocks in F&O ban today.