State Bank of India, Tech Mahindra, Jubilant Ingrevia, DishTV among stocks in focus today

Technical analysts believe there is a possibility of further weakness in headline indices this week, expecting the Nifty to touch 16800 levels.

stocks in focus today. (Image: REUTERS)

Amid high volatility, Sensex and Nifty gained nearly 1% each last week. On the fundamental side, analysts are watching the Reserve Bank of India’ Monetary Policy Committee (MPC) to guide them on what lies ahead for Dalal Street. Meanwhile, technical analysts believe the near-term downtrend is still intact. “The near term trend of Nifty continues to be down and the recent pullback rally of a downtrend seems to have completed,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities. “There is a possibility of further weakness down to 16800 levels by (this) week. Immediate resistance is placed at 17300-17350 levels,” he added.

State Bank of India: The state-run lender has invited bids from asset reconstruction companies, and other financial institutions to sell an NPA account KSK Mahanadi Power Company, with total outstanding against the company standing over Rs 4,100 crore.

Indiabulls Housing Finance: The company, over the weekend, announced that it will raise up to Rs 1,000 crore through a public issue of bonds. The base issue size of the bonds, in the nature of secured redeemable non-convertible debentures (NCDs), is of Rs 200 crore with an option to retain oversubscription up to Rs 800 crore, aggregating up to Rs 1,000 crore

Raymond: The company’s chairman and MD Gautam Hari Singhania, in an interview with Financial Express, said that the company did not see any dip in demand post-diwali, which he added is a good sign, showing stability in demand.

Tech Mahindra: On Friday the IT major said that it has acquired 100% equity shares in Activus Connect LLC and Activus Connect PR LLC through a subsidy. 

DishTV: The company has informed the stock exchanges that it will hold its 33rd annual general meeting (AGM) on December 30, 2021. DishTV has been in action as its largest shareholder, Yes Bank, attempts to reconstitute the board.

Jubilant Ingrevia: Jubilant Ingrevia’s Board of Directors has approved the buy-back of 1,000, 7.90% Secured Rated Listed Redeemable Non-Convertible Debentures of Rs 10,00,000 each aggregating to Rs 100 Crore.

Sona Comstar: The newly listed company said that India Ratings & Research has upgraded the Company’s Long-Term Issuer Rating to ‘IND AA’ from ‘IND AA-‘ and the Outlook is Stable. 

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