Stocks to Watch: Metro Brands, RIL, IOC, HCL Tech, MCX, JSW Energy, Yes BkDecember 22, 2021
The key benchmark indices are likely to start trade on a positive note given the cues from the SGX Nifty. As of 07:50 AM, the SGX Nifty futures were quoted at 18,664 as against NSE Nifty 50 close of 16,770. While, the Omicron fears and global cues will continue to dictate market trend in the near terms, here the top stocks to focus in trade on Wednesday.
Metro Brands: The stock is likely to make a tepid debut given the indications from the GMP (10-15 % discount to issue price) and low response to its IPO. The Rakesh Jhunjhunwala backed company’s share sale was subscribed only 3.64 times during the offer period.
Reliance Industries (RIL): The weighting of oil-to-telecom conglomerate RIL is likely to increase in the benchmark S&P BSE Sensex from December 29 and Nifty 50 on December 30, according to Edelweiss Alternative Research. The total cumulative inflow for RIL in Sensex and Nifty is expected to be $245 million. The weighting of oil-to-telecom conglomerate Reliance Industries (RIL) is likely to increase in the benchmark S&P BSE Sensex from December 29 to result in additional inflows of $75 million, according to Edelweiss Alternative Research. The stock’s weighting may rise by 0.68 percentage points (pp) to 12.5 per cent in the Sensex, from 11.8 per cent at present.
Nifty indices may do a weighting rebalancing on December 30, leading to estimated inflows of about $170 million, according to the research firm. The total cumulative inflow for RIL in Sensex and Nifty is expected to be $245 …
HCL Technologies: The IT company has signed a five-year agreement with CEMEX, a global construction materials company, to deliver the next generation of employee services enabled by digital transformation, increased automation and near real-time analytics as part of the CEMEX “Working Smarter Program. HCL will also collaborate with NEORIS, a CEMEX subsidiary, to create superior customer experience and achieve sustainable resiliency in CEMEX’s supply chain.
IOC: The oil marketing major has acquired nearly 5 per cent stake in Indian Gas Exchange Ltd – the country’s first automated national level exchange for the trading of natural gas. IOC has now joined the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already had acquired 5 per cent equity each in IGX.
JSW Energy: The company informed BSE that its subsidiary JSW Energy (Barmer) completed the buy-back of its shares for a consideration of Rs 1,000 crore.
SBI: India’s largest PSU bank has acquired a minority stake in Sajjan Jindal-led JSW Cement by investing Rs 100 crore via compulsorily convertible preference shares (CCPS). This capital infusion will support JSW Cement’s capacity expansion from 14 million tonne annually to 25 million tonne.
Yes Bank: The private lender said its board has approved a proposal to raise funds up to Rs 10,000 crore through various instruments, including equity and bonds, to support business growth.
MCX: The commodity exchange firm informed BSE that it has amicably settled a dispute with PESB a UK-based vendor, pending before Singapore International Arbitration Centre, on payment of amount equivalent to outstanding invoices.
NCL Research & Financial Services: The company’s board has approved to raise capital up to Rs 49 crore by way of Rights issue of equity shares. The board also approved to raise authorised capital from Rs 60 crore to Rs 109 crore.
M. K. Exim India: The company has announced a bonus issue in the ratio of 2:1 i.e. two free equity shares for every shareholder holding a share.
Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Zee Entertainment are the only two stocks in the F&O ban period today.