At 08:00 AM, the SGX Nifty January futures quoted at 18,338 as against the spot Nifty 50 close of 18,191 yesterday.
In the primary market, Sah Polymers Rs 66.30 crore IPO opens for subscription today in the price band of Rs 61 – Rs 65. The issue closes on January 04, 2023.
Meanwhile, the following stocks are likely to see some action in trades on Friday.
Also Read : Top headlines: PM Modi’s mother passes away, bank’s NPA ratio at 10-yr low
Elin Electronics: The stock is likely to make a quiet debut on the bourses, as indicated by the Grey Market Premium. The company fixed the issue price at Rs 247, and the IPO was subscribed 3.1 times.
Eicher Motors: The parent company of Royal Enfield announced a strategic collaboration in the space of electric motorcycles with Spain-based Stark Future SL. The former will be investing €50 million for close to 10.35 per cent equity stake in Stark Future. READ MORE
Cipla: The company’s wholly-owned UK subsidiary has signed definite agreements for equity investment of Euro 15 million in Ethris GmbH, a global leader in delivering mRNAs directly to the respiratory system including administration by inhalation.
Banks: The rise in profitability that aided banks to improve their provisions has resulted in net non-performing assets (NPAs) to net advances ratio falling to 1.3 per cent in September 2022 – the lowest in 10 years – the Reserve Bank of India’s (RBI’s) Financial Stability Report said. READ MORE
Reliance Industries: Reliance Consumer Products, a wholly-owned subsidiary of Reliance Retail Ventures will acquire 51 per cent controlling stake in Lotus Chocolate Company (Lotus) for Rs 74 crore and also make an open offer to acquire additional 26 per cent stake.
Dish TV: The company appointed former bureaucrat Lalit Behari Singhal as an independent director to its board. Meanwhile, shareholders for the second time voted against the two ordinary resolutions, to adopt the FY21 and FY22 financial statements of the company. READ MORE
Tata Power: The Tata Group company informed BSE, that it raised Rs 1,000 crore through the issuance of non-convertible debentures on a private placement basis.
Bharat Dynamics: The share price of the public sector defence firm has gained more than 14 per cent in past five trading sessions as brokerages reiterate buy ratings on expectations of government procurement, strong order book, growth in exports and stable operating profit margins. READ ANALYSIS
Pharma: The Indian pharmaceutical industry’s recent tryst with the US drug regulator may impact future pipelines, observe analysts. Data shows that there were about 60 official action indicated (OAI) citations by the USFDA at Indian sites between November 2019 and November 2022. For the most part, in the past 12 months, five OAI classifications have been issued, of which two have been escalated to ‘import alert’. READ MORE
Godrej Properties: The real-estate player has acquired around 9 acres of land in Haryana’s Gurugram, predicting a revenue potential of some Rs 2,500 crore in the residential project.