Kotak Mahindra Bank, Ashok Leyland, State Bank of India, Poonawalla Fincorp stocks in focus

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November 17, 2021 8:37 AM

Nifty futures were trading 66 points or 0.4 per cent down at 17,939 on Singaporean Exchange on Wednesday, a day before weekly F&O expiry

Analytsts said that the overstretched valuations with a number of global financial services firms maintaining cautious view on Indian equities were affecting the markets sentiments

Nifty futures were trading 66 points or 0.4 per cent down at 17,939 on Singaporean Exchange on Wednesday, a day before weekly F&O expiry. The primary market will see one more IPO — Go Fashions — opening up for a subscription today. Analysts said that the overstretched valuations with a number of global financial services firms maintaining a cautious view on Indian equities were affecting the markets sentiments. “We expect the long term fundamentals of the market to remain positive and hence investors can look to accumulate good quality stocks. However increased volatility could be seen in the near term,” Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said.

Stocks in focus

Coromandel International: Coromandel International on Tuesday announced setting up of a sulphuric acid plant at its fertiliser complex at Visakhapatnam at a cost of Rs 400 crore.

State Bank of India: NBFC company U GRO Capital on Tuesday said State Bank of India (SBI) has partnered with it for a co-lending arrangement to disburse up to Rs 500 crore to micro, small and medium enterprises (MSMEs) by the end of this fiscal.

Kotak Mahindra Bank: Kotak Mahindra Bank and PVR on Tuesday launched a co-branded debit card, claiming to be the first ones to offer such a product in the movie and entertainment genre. The partners, which had first launched co-branded credit cards ten years ago, are seeking to leverage on the rise in usage of debit cards in the aftermath of the coronavirus pandemic and the reopening of cinemas across India.

Ashok Leyland: Ashok Leyland’s EV arm Switch Mobility has bagged a contract for the supply and operation of 300 electric buses for Bengaluru Metropolitan Transport Corporation (BMTC).

Go Fashion: Go Fashion (India) Ltd, which owns women’s wear brand Go Colors, on Tuesday said it has raised a little over Rs 456 crore from anchor investors ahead of its IPO roll-out on Wednesday. The company has decided to allocate a total of 66,10,492 equity shares to 33 anchor investors at Rs 690 apiece, aggregating the transaction size to Rs 456.12 crore, according to a circular uploaded on the BSE website.

Poonawalla Fincorp: Rising Sun Holdings acquired 1.24 crore equity shares at Rs 201.5 apiece, while Microfirm Capital offloaded 1.22 crore equity shares at Rs 201.56 per share on the NSE, the bulk deals data showed.

Kirloskar Pneumatic: BSE bulk deals showed that HDFC Mutual Fund sold 5 lakh equity shares of Kirloskar Pneumatic at Rs 410.1 per share on the BSE.

Home First Finance: Home First Finance said it is planning to raise up to Rs 99 crore by issuing bonds on a private placement basis.

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