HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus | The Financial Express

HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus

Indian benchmark indices are likely to open lower amid weak global cues. SGX Nifty was in red, hinting at at a negative start the domestic share market.

HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus
HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus

Indian benchmark indices are likely to open lower amid weak global cues. Trends in the SGX Nifty hinted at a negative opening the domestic share market as Nifty futures traded 63 pts lower at 18,746 level on the Singapore Exchange. In the previous session, the BSE Sensex fell 34 points to 62,835, while the NSE Nifty 50 gained 5 pts to settle at 18,701. “We’re seeing consolidation on the expected lines, which is healthy after the recent surge. We expect the resumption of the trend soon meanwhile focus on sectors that are attracting buying interest on every dip and select the stocks accordingly,” said Ajit Mishra, VP – Technical Research, Religare Broking Ltd.

Stocks in focus on 6 December, Tuesday

HDFC: Life Insurance Corporation of India (LIC) bought additional 2.14 lakh shares (0.012%) stake in the company via open market transactions on 2 December. With this, LIC’s shareholding in the Corporation increased to 5.003% from 4.991% earlier.

Also Read: Sensex, Nifty end flat; Reliance, Infosys, other heavyweights fall sharply; profit-booking continues

TVS Motor Company: Promoter Srinivasan Trust offloaded Rs 262 crore stake in TVS Motor Company. Promoter Srinivasan Trust offloaded entire shares worth Rs 262.1 crore via open market transactions. It sold 25.69 lakh shares at an average price of Rs 1,020 per share.

Bajaj Consumer Care: The company will consider share buyback on December 9. The company said its board of directors will consider a proposal for buyback of equity shares of the company on 9 December.

IRB Infrastructure Developers: The company and its InvIT subsidiary IRB Infrastructure Trust, have collectively reported 39% increase in the toll collection in November 2022 on an on-year basis, across all projects. The company reported toll collection in November is Rs 365.95 crore, as against Rs 262.81 crore in November 2021.

BCL Industries: BCL Industries bags orders from OMCs, Reliance Industries for supply of ethanol. The company has received order worth Rs 285 crore for supply of 4.9 crore litres of ethanol to oil marketing companies. Additionally, its distillery unit has also bagged an order to supply 1.65 crore litres of ethanol to Reliance Industries with an order value of Rs 107 crore.

Rainbow Children’s Medicare: UK’s British International Investment Plc exits Rainbow Children’s Medicare. UK’s British International Investment Plc exited Rainbow Children’s Medicare by selling entire shareholding via open market transactions. CDC India Opportunities, owned by British International Investment Plc, sold 50.33 lakh shares at an average price of Rs 735 per share, and CDC Group PLC, which is now known as British International Investment Plc, offloaded 96.32 lakh shares at an average price of Rs 735.55 per share, which both were worth Rs 1,078.48 crore.

Natco Pharma: The company has received a favorable judgement in the chlorantraniliprole case. The Delhi High Court has dismissed an appeal filed by FMC Corporation, FMC Singapore and FMC India, and has upheld the judgement of single judge, saying the Natco Chlorantraniliprole (CTPR) process does not infringe FMC’s Indian patent 298645.

DreamFolks Services: The largest airport service aggregator signed strategic partnership with Vidsur Golf to offer customers access to Golf courses across India & Asia Pacific.

Go Fashion India: Sequoia Capital India sells Rs 228 crore shares of Go Fashion. Canara Robeco Mutual Fund account Canara Robeco Small Cap Fund bought 3.2 lakh shares in the company via open market transactions at an average price of Rs 1,140 per share, which were worth Rs 36.48 crore. However, Sequoia Capital India Investments IV sold 20 lakh shares at an average price of Rs 1,140.14 per share, which were worth Rs 228.02 crore.

Also Read: RBI MPC nearing end of rate-hike cycle; repo rate may be raised by 35 bps

Karur Vysya Bank: Meridian Chem Bond sells 0.6% stake in Karur Vysya Bank. Meridian Chem Bond sold 48.06 lakh shares in the bank (0.6% stake) at an average price of Rs 96.11 per share.

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First published on: 06-12-2022 at 07:24 IST