Stocks to Watch: TCS, NDTV, IEX, Adani Power, IDFC, ONGC
- NSE continues to keep Bhel, Delta Corp, Punjab National Bank and Indiabulls Housing Finance stocks on the list of banned securities under the F&O segment for Thursday trading as they have crossed 95% of the market-wide position limit.
Here is the list of the top 10 stocks that will be in focus today:
Tata Consultancy Services: IT major Tata Consultancy Services on Wednesday said that it has bagged a deal from Rail Delivery Group to design, develop, implement, and operate the UK's Rail Data Marketplace. The contract between TCS and RDG (Rail Data Marketplace) is for a term of six years including an extension term opportunity. "Built on TCS Dexam, the Rail Data Marketplace can not only provide data relating to the rail industry but could also present adjacent data sources important to passengers and operators and help deliver an improved experience for users.
NDTV: Having taken control of RRPR Holdings, the NDTV promoter company holding 29.18% equity in the broadcaster, Adani Group through its subsidiary Vishvapradhan Commercial Pvt. Ltd (VCPL) could push to nominate its directors on the NDTV board. And though the open offer didn’t attract any investor interest for the second straight session on Wednesday, Adani Group has become the single largest shareholder of NDTV, taking it a step closer to wresting control of the company, founders of proxy advisory firms have said.
Adani Power: The deadline for completing the ₹7,017 crore deal to buy the thermal power assets of DB Power Ltd. has been extended by one month, to 31 December 2022, according to a statement from Adani Power on Monday. The company had previously pushed back the deadline for completion by one month, to 30 November 2022. "Parties to the proposed transaction have mutually agreed to further extend the long stop date as December 31, 2022, for achieving the closing/completion," a BSE filing said.
Indian Energy Exchange: The Indian Energy Exchange (IEX) is all set to seek shareholders' approval through a postal ballot to buy back shares worth up to ₹98 crore, news agency PTI reported on 30 November. In its meeting on 25 November, the board of directors approved the cash offer for the buyback of equity shares of the face value of ₹1 each at a maximum price of ₹200 per share for an aggregate amount of up to ₹98 crore.
ONGC/Reliance: The Kirit Parikh committee on gas pricing on Wednesday submitted its report to the petroleum ministry. The panel has suggested a floor price of $4 per million British thermal unit and a cap or ceiling price of $6.5 per mmBtu on gas from old or legacy fields. State-run ONGC and OIL largely operate legacy fields in the country. The panel has also recommended the prices of domestic gas should be linked to international prices. It has suggested the removal of the price cap in the next 3 years.
IDFC: Markets regulator Sebi has approved the acquisition of IDFC Asset Management Company Limited (IDFC AMC) by a consortium comprising Bandhan Financial Holdings Limited, GIC and ChrysCapital. In a release on Wednesday, IDFC AMC said the proposed deal had been cleared by Sebi. Last month, the Reserve Bank of India (RBI) approved the deal and the Competition Commission of India (CCI) gave its clearance in August.
Manali Petrochemicals: Manali Petrochemicals Ltd, an integrated manufacturer of polyols, has 'closed the acquisition' of United Kingdom-based Penn Globe Ltd, a market leader in foam control agents, for an enterprise value of GBP 21 million, the city-headquartered company said on Wednesday. The "all-in" acquisition was transacted through AMCHEM Speciality Chemicals Private Limited, Singapore, the company said in a statement.
Tamilnad Mercantile Bank: Private sector lender Tamilnad Mercantile Bank (TMB) on Wednesday said it has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an 'agency bank' of RBI to undertake government agency business.
Gateway Distriparks: Mumbai-based logistics firm Gateway Distriparks said that it would commence export-import (EXIM) and domestic container train services at ICD Kashipur from 4 December 2022. The company operates a fleet of 31 rakes and will run services between ICD Kashipur and the maritime ports of Mundra, Pipavav and Nhava Sheva. “The acquisition of ICD Kashipur remains a work in progress and is expected to be completed by end of December 2022, the company said.
Zomato: Alipay Singapore, an arm of Alibaba Group Holding Ltd, sold a 3.07% stake in online food delivery giant Zomato for ₹1,631 crore via an open market transaction on Wednesday. Alipay Singapore Holding Pte offloaded around 26,28,73,507 shares, aggregating to a 3.07% stake in the firm, according to the bulk deal data available with the National Stock Exchange (NSE).
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