Indian benchmark indices BSE Sensex and NSE Nifty 50 are likely to extend gains on Thursday, amid strong global cues. SGX Nifty was up in green with Nifty futures trading 77 pts or 0.41% higher at around 18994 levels, signalling a positive open for domestic equities. “The rotational buying across sectors is fuelling the recent surge while the global markets are not offering any clear signal. We’re now eyeing a new milestone of the 19,000 mark in Nifty. Participants should keep a close watch on themes/sectors which are gaining traction and place their bets accordingly,” said Ajit Mishra, VP – Technical Research, Religare Broking.
Stocks in focus on 1 December, Thursday
Tamilnad Mercantile Bank: The Reserve Bank of India (RBI) has authorised the bank to undertake government business on behalf of the central bank. The agreement has been signed by the bank with the RBI for appointing Tamilnad Mercantile Bank as an agency bank of the RBI for undertaking government agency business.
KPI Green Energy: The board has recommended the issue of bonus shares in the ratio of one bonus equity share against one existing equity share. This is subject to the approval of the shareholders. The Board informed stock exchanges that the total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) is Rs 18,06,70,000 divided into 1,80,67,000 equity shares of Rs. 10 each and the bonus shares will be issued out of the Company’s Securities Premium Account as on 31 March 31. They further said that the estimated date by which such bonus shares would be credited is within 2 months from the date of Board approval i.e. by 29 January.
Punjab National Bank: The public sector lender has raised lending rates by 5 bps across tenures from December 1. The overnight MCLR has been hiked from 7.40% to 7.45%, 1-month MCLR hiked from 7.45% to 7.50%, the three-month MCLR hiked from 7.55% to 7.60%, six-month MCLR hiked to 7.75% to 7.80%, 1-year MCLR goes up from 8.05% to 8.10% and 3-year MCLR goes up from 8.35% to 8.40%.
Apollo Hospitals Enterprises: The hospital chain operator has received board approval for fund raising up to Rs 105 crore via non-convertible debentures (NCDs). The company will issue 1,050 NCDs with a face value of Rs 10 lakh each.
Zomato: Alipay Singapore Holding offloaded shares worth Rs 1,631.4 crore in Zomato. Foreign investor Alipay Singapore Holding Pte Ltd sold 26.28 crore shares in the food delivery giant at an average price of Rs 62.06 per share, which was worth Rs 1,631.4 crore. However, Camas Investments Pte Ltd, the subsidiary of Singapore-based sovereign wealth fund Temasek, picked 9.8 crore shares in the company at an average price of Rs 62 per share.
Tata Consultancy Services: TCS has signed a six-year contract, with an extension term opportunity, with the United Kingdom-headquartered Rail Delivery Group to build and run the UK government’s Rail Data Marketplace (RDM). The IT services major will be using TCS Dexam to design, develop, implement and operate RDM, which is expected to bring together fragmented sources of rail data into one digital service to accelerate innovation in the transport sector and enhance the passenger experience.
Wipro: The IT services company has launched Wipro Data Intelligence Suite running on Amazon Web Services (AWS). The Suite offers reliable and secure means to migrate from existing platforms and fragmented legacy systems to the cloud.
Easy Trip Planners: I-Shares Core Emerging Markets Mauritius Company picks over 1.1% stake in Easy Trip Planners. I-Shares Core Emerging Markets Mauritius Company picked more than 1.1% stake in an online travel company via open market transactions as it bought 24.82 lakh shares at an average price of Rs 62.98 per share.
Indian Hotels Company: Government of Singapore Investment Corporation buys 0.66% stake in Indian Hotels. Government of Singapore Investment Corporation Pte Ltd A/C C Account purchased 94.74 lakh shares in the hotel company at an average price of Rs 321.77 per share, however, Integrated Core Strategies (Asia) Pte Ltd sold 1.44 crore shares at an average price of Rs 321.47 per share. In addition, BNP Paribas Arbitrage sold 71.94 lakh shares in Indian Hotels at an average price of Rs 321.83 per share, against its holding in the company as of September 2022 was 1.49 crore shares (1.06%).