ZEEL, MedPlus Health, Kotak Mahindra Bank, LT, Axis Bank, Vedanta stocks in focus

Domestic equity market benchmarks BSE Sensex and Nifty 50 were once again staring at a positive start on Thursday, a day of weekly F&O expiry.

ZEEL, MedPlus Health, Kotak Mahindra Bank, LT, Axis Bank, Vedanta stocks in focus
Nifty futures were trading 84 points or 0.5 per cent up at 17,062 on Singaporean Exchange in early trade, hinting at a gap-up opening for headline indices. Image: Reuters

Domestic equity market benchmarks BSE Sensex and Nifty 50 were once again staring at a positive start on Thursday, a day of weekly F&O expiry. Nifty futures were trading 84 points or 0.5 per cent up at 17,062 on Singaporean Exchange in early trade, hinting at a gap-up opening for headline indices. In the previous session, S&P BSE Sensex added 611 points or 1.09% to close at 56,930 points while NSE Nifty 50 index rose 184 points or 16,955. “The pullback rally continued in the market and the Nifty is now entering a crucial overhead resistance of around 17000-17200 levels. There is a higher chance that Nifty could reverse down from near this area in the next few sessions. Immediate support is placed at 16830 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Stocks to watch

MedPlus Health Services: MedPlus Health, whose IPO received 52.59 times subscription, will make its stock market debut on Thursday, 23 December 2021. The final issue price is fixed at Rs 796 per share.

ZEEL: Zee Entertainment Enterprises Ltd (ZEE) and Sony Pictures Networks India (SPNI), an indirect subsidiary of Sony Pictures Entertainment Inc, on Wednesday signed a definitive agreement to create one of the the country’s largest media and entertainment company.

Kotak Mahindra Bank: A Kotak Mahindra Bank arm on Wednesday announced it has acquired the passenger vehicle finance portfolio of the exiting Ford Motor Company’s captive lending platform for an undisclosed sum.

Larsen & Toubro: The construction arm of Larsen & Toubro has secured a significant order for its Buildings and Factories business from a reputed developer. The residential business of Buildings and Factories has secured this order to construct one of the largest residential townships in Bengaluru. The project involves construction of 6,768
apartments spread across 39 Towers with 2 Basements + Ground + 27 to 31 Floors.

Axis Bank: Axis Bank has allotted 26,000 Senior Unsecured Taxable Redeemable Non-Convertible Debentures (SERIES- 6) of the face value of Rs 10 lakh each (Debentures), for cash, at par aggregating to Rs 2,600 crore at coupon rate of 6.99% p.a. payable annually, on a private placement basis.

Vedanta: Vedanta on Wednesday said it plans to raise up to Rs 1,000 crore through non-convertible debentures (NCDs). In this regard, the company is holding a meeting of its duly constituted committee of the directors next week, Vedanta Ltd said in a filing to the BSE.

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