Nifty futures on the Singapore Exchange traded 77.5 points, or 0.42 per cent lower at 18,417, signaling that Dalal Street was headed for a negative start on Wednesday.
Stocks to Watch
Bikaji Foods International: The stock is set to make its debut on the bourses today. As per the GMP (Grey Market Premium), the stock could witness a listing gain of around 8 – 10 per cent. The company’s IPO had received a decent response and was subscribed 26.67 times, mainly due to strong demand from QIBs (Qualified Institutional Buyers).
Global Health (Medanta): Hospital relates shares were in demand on Tuesday, but it seems like that may not have enough of a rub-off effect on this debutant. As per the GMP (Grey Market Premium), the stock could register a flat to the marginally positive listing. The company’s IPO was subscribed 9.58 times.
Paytm: The stock is likely to be in focus this week, as the one-year lock-in period for the company’s stock expires, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba Group Holding and its fintech affiliate Ant Group, as well as Japan’s SoftBank Group.
Tata Motors: The Tata group-owned Jaguar Land Rover is stitching up partnerships to improve semiconductor supplies, as it looks to improve sales volume in the second half of the current financial year. The automaker noted that despite strong demand and a record order book, sales during Q2 continued to be constrained by the global chip shortage.
Tata Consumer Products: Shareholders of Tata Consumer, Tata Coffee and TCPL Beverages approved the scheme of arrangement between the three companies, the voting for which was held on November 12. Tata Consumer Products will issue one equity share for every 22 share held in Tata Coffee to existing shareholders.
HDFC: The mortgage lender will raise up to Rs 5,500 crore by issuing bonds on private placement basis to shore up its resources on Wednesday. The secured redeemable non-convertible debentures (NCDs) issue will have a base size of Rs 4,000 crore with an option to retain oversubscription of up to Rs 1,500 crore.
NDTV: According to sources, the promoters of NDTV – Radhika Roy and Prannoy Roy – may not mount a legal challenge against Adani Group’s open offer for additional shares in the company. On Tuesday, NDTV shares closed at Rs 384.10 apiece, after hitting the 5-per cent upper circuit.
SBI: India’s largest PSU bank raised the marginal cost of funds-based lending rate (MCLR) by 15 basis points across tenors, making most consumer loans costlier for borrowers. The revised rates come into effect from November 15, 2022.
FSN E-Commerce Ventures: Segantii India Mauritius offloaded 33,73,243 shares of Nykaa’s parent for Rs 67.2 crore at an average price of Rs 199.24 through open market transaction, according to the bulk deal data available with NSE. Hermes Investment Funds Public Ltd Company acquired 25,82,921 shares of the company.
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