Indian benchmark indices are likely to open in red, hinted SGX Nifty. Global cues were weak and Nifty futures were trading 0.6% down at 18,065 level on the Singapore Exchange. “Going ahead, the macro factors and global developments are likely to dictate the near-term trend in the market. Hence, staying abreast with domestic and global developments over the covid woes is advisable. Meanwhile, one must avoid undue risk and focus on stock-specific action for better trading opportunities,” said Osho Krishan, Sr. Analyst – Technical & Derivative Research, Angel One. Reliance Industries, Lupin, Landmark Cars are among the stocks to watch on Friday.
Stocks in focus on 23 December, Friday
Reliance: Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Reliance Industries has acquired a 23.3% stake in US-based robotics startup Exyn Technologies for $25 million. In other news, Indian Oil Corporation (IOC), the nation’s largest oil firm, has selected Reliance Jio‘s managed network services to connect a fifth of its petrol pump network. Jio will connect 7,200 IOC sites with SD-WAN managed service solution, zero-touch provisioning and 24×7 real-time monitoring, the firm said in a statement Thursday. Meanwhile, Reliance Jio’s arm, Reliance Projects and Property Management Services (RPPMSL), has completed 100% stake acquisition in Reliance Infratel for about Rs 3,720 crore.
Landmark Cars: Shares of the premium automobile retailer will debut on the bourses on 23 December. The issue price for the IPO has been fixed at Rs 506 per share.
Abans Holdings: The financial services subsidiary of Abans Group will list shares on the BSE and NSE on Friday. The final offer price has been fixed at Rs 270 per share.
GR Infraprojects: The company has received completion certificate from Authority’s engineer for the construction of eight lane access-control expressway carriageway in Madhya Pradesh. The authority has declared the said project fit for entry into commercial operation with effect from 30 November 2022.
Indian Railway Catering and Tourism Corporation (IRCTC): The Government of India is proposing to offer up to 40 lakh equity shares of the company to eligible employees at a price of Rs 680 per equity share. The offer for sale for employees will remain open from 23 to 26 December.
RailTel Corporation of India: The company has bagged the work order from Webel Technology for acting as a system integrator for capacity enhancement of West Bengal state data centre, Monibhandar in Kolkata. The total value of the work is Rs 98.56 crore.
Lupin: Lupin Pharmaceuticals Inc is voluntarily recalling 4 lots of Quinapril tablets due to the presence of a nitrosamine impurity, N-Nitroso-quinapril, observed in recent testing above the acceptable daily intake (ADI) level. Till date, Lupin has received no reports of illness that appear to relate to this issue. Lupin discontinued the marketing of Quinapril tablets in September 2022.
Rail Vikas Nigam: The company has received a contract for the construction of Bhesan depot cum workshop, for Surat Metro Rail Project Phase-1, DC 2, from Gujarat Metro Rail Corporation (GMRC). The total cost of the project is Rs 198.93 crore.