Bidding for Tega Industries IPO, which opened for subscription on 1 December, will remain open till today. The Anand Rathi Wealth IPO was fully subscribed on the first day. Stocks climbed for a second straight session as manufacturing and tax data showed that the economic recovery remained on track.
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Here is the list of the top 10 stocks that are likely to be in focus on Friday:
Maruti Suzuki India: India's top carmaker Maruti Suzuki on Thursday announced that the company will increase prices in January 2022 due to increase in various input costs. The company said that the price hike shall vary for different models. “Over the past year, the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike," Maruti informed in an exchange filing today.
Tata Power: Tata Power has collaborated with amã Stays & Trails, India’s first branded homestay portfolio by Indian Hotels Company Ltd, to set up EV charging stations at over 30 of its villas and heritage bungalows across 11 destinations. A rising demand for sustainable transport infrastructure has resulted in an increasing number of hospitality brands investing in electric vehicle (EV) charging points, a statement said.
Jet Airways: India's Jet Airways is in talks with planemakers Boeing Co and Airbus SE for an order worth $12 billion, BloombergQuint reported on Thursday, citing Bloomberg News. The airline's new owners, UAE-based businessman Murari Lal Jalan and UK investment firm Kalrock Capital, told Bloomberg News that Jet could buy at least 100 narrowbody aircraft, BloombergQuint said on Twitter.
SBI: State Bank of India (SBI) has recently inked an agreement with Adani Capital Private Ltd (Adani Capital), the NBFC arm of Adani Group, for co-lending to farmers for purchase of tractor and farm implements. “With this partnership, SBI would be able to target farmer customers in the interior hinterland of the country looking for adoption of farm mechanization to enhance productivity of crops. SBI is actively looking at co-lending opportunities with multiple NBFCs for financing farm mechanization, warehouse receipt Finance, Farmer Producer Organizations (FPOs) etc., for enhancing credit flow to double the farmers’ income," a release said
L&T: Construction major Larsen & Toubro (L&T) and leading renewable energy company ReNew Power (ReNew) on Thursday signed an agreement to tap the $60 billion emerging green hydrogen market in India. The companies are targeting a business potential of $2 billion from the segment in India and neighbouring countries in two years.
Vedanta: Cairn Oil and Gas, a unit of Vedanta Ltd, plans to invest as much as $5 billion over the next 2-3 years as it seeks to expand oil production to almost 500,000 barrels a day, chief executive Prachur Sah said. “Cairn’s ambition remains that we want to meet 50% of India’s oil and gas production, which means we want to go to almost 500,000 barrels a day, both from our existing assets and from the new blocks that we acquired. And the plan to do that is through investment in enhanced recovery and additional exploration activities," Sah said in an interview. “For us to meet production targets, we should be looking at investing anywhere between $4-5 billion over the next two to three years."
Biocon: Biocon Pharma Ltd, a subsidiary of Biocon, has received received approval of its ANDA for Mycophenolic Acid from the US drug regulator. "Biocon Pharma, a subsidiary of the company, has received approval from the US Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Mycophenolic Acid," the company said in a regulatory filing. This product is indicated for the prophylaxis of organ rejection in adult patients receiving a kidney transplant and is available in 180 mg and 360 mg strengths.
Meghmani Finechem: Ratings agency Crisil has upgraded the rating of Meghmani Finechem Ltd to Crisil AA-/Stable with the rationale being steady revenue growth, healthy operating margin, good demand prospect and improving financial risk profile. "Crisil has revised the outlook on Meghmani Finechem Limited’s long term bank facilities from ‘Crisil A+/Positive’ to ‘CRISIL AA-/Stable’," the agency said in a statement.
ABB India: The company on Thursday said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of ₹44.58 crore. Dodge Industrial India is an affiliate of RBC Bearings Incorporated.
Crompton: Electronics brand Crompton Greaves Consumer Electricals Ltd., (CGCEL) has set up its largest Research and Development (R&D) centre in Vikhroli, Mumbai, to step-up innovation. Spread across 50,000 square feet, the new centre will undertake research and development in significant consumer applications along with advanced technology enhancements such as IoT, energy efficiency, and solution development.
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