BackStocks to Watch: Nykaa, Vedanta, PTC India, Fortis, Equitas SFB
NSE will continue to keep Balrampur Chini, Bhel, Delta Corp, Gujarat Narmada Valley Fertilizers and Chemicals, Indiabulls Housing Finance, and Sun TV stocks on the list of banned securities under the F&O segment for Friday trading as they have crossed 95% of the market-wide position limit.
PremiumHere is the list of the top 10 stocks that will be in focus today:
FSN E-Commerce Ventures: American investment company TPG Capital is expected to sell ₹1,000 crore shares of FSN E-Commerce Ventures, which operates under the Nykaa brand, via a block deal on Friday, according to reports. The deal provides a discount of up to 0.5% from the going rate. The development comes days after the lock-in expiry for pre-IPO investors in Nykaa came to an end.
Vedanta: Billionaire Anil Agarwal-led Vedanta Group informed on Thursday that the company's board of directors will consider the proposal for payment of the third interim dividend for the financial year 2022-23 in the meeting to be held on 22 November 2022. The company said the record date for the purpose of determining the entitlement of the equity shareholders for the said dividend, if declared, is being fixed as Wednesday, 30 November 2022.
PTC India Financial Services: State-run PTC India on Thursday reported an over 5-fold growth in its net profit for FY22 at crore ₹129.98 crore. “PAT of Rs.129.98 crore for FY22 against ₹25.60 crore for FY21 (over 400%). The Company is now positioned to focus on growth and performance," the company said. PTC India's Profit before Tax (PBT) stood at ₹33.53 crore and Profit after Tax (PAT) stood at Rs. 24.98 crore for Q4FY22.
Fortis Healthcare: Malaysia's IHH Healthcare on Thursday said Sebi has advised it to proceed with its stalled open offer to acquire 26.1% market share in Fortis Healthcare only after obtaining an order from the Delhi High Court. IHH Healthcare had acquired a 31.1% stake in Fortis by infusing fresh capital of ₹4,000 crore in November 2018. The company is waiting for a go-ahead to proceed with its stalled open offer to acquire an additional 26.1% stake in Fortis.
Kirloskar Brothers: Kirloskar Brothers Ltd has called for an extraordinary general meeting of its shareholders on December 8, 2022, to consider the demand for a forensic audit of the affairs of the company by an external agency, according to a regulatory filing. It follows a requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92% of Kirloskar Brothers Ltd (KBL), which has, however, advised its shareholders to reject the resolution.
Equitas Small Finance Bank: DSP Investment Managers Private Ltd (DSPIM) will buy a nearly 10% stake in Equitas Small Finance Bank for an undisclosed amount, following approval from the Reserve Bank of India. The bank received an intimation from the RBI on November 16, 2022, that it has granted approval to DSP Investment Managers Private Ltd (DSPIM) to acquire up to 9.99 per cent of the paid-up equity capital of the bank through the schemes of DSP Mutual Fund (DSPMF).
Bajaj Auto: Life Insurance Corporation of India sold 56.68 lakh shares or a 2% stake in the automobile company, Bajaj Auto, via open market transactions, according to reports. With this, LIC's shareholding in the company stands reduced to 5.2% from 7.2% earlier.
Bharat Electronics: Bharat Electronics, the Navratna defence PSU, has signed an MoU with Armoured Vehicles Nigam Limited (AVNL/AVANI), a defence PSU to jointly address domestic and export opportunities in the areas of combat vehicles, main battle tanks (MBTs), infantry fighting vehicles (IFVs), armoured fighting vehicles (AFVs) and related systems. It has also signed an MoU with Advanced Weapons and Equipment India (AWEIL), a defence PSU.
UltraTech Cement: UltraTech Cement has commenced operation at its third Birla White Wall Care Putty plant in Rajasthan with a capacity of 4 LMT per annum, according to reports. The project's total cost is ₹187 crore and now the company's Wall Care Putty capacity of 13 LMT per annum.
Alstone Textiles (India): Alstone Textiles India has fixed December 14 as the record date for the sub-division of equity shares. The company said each share will be subdivided into 10 shares of the nominal value of Re 1 each fully paid-up and will ascertain the eligibility of shareholders entitled to the issuance of bonus equity shares in the proportion of 9 shares of Re 1 each for every 1 existing share of Re 1 each.
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