IN FOCUS: Dr Reddy's, Adani & IB Real Estate top stocks to track
NEW DELHI: Domestic equity markets are likely to witness a positive opening on Monday, tracking Nifty futures on the Singapore Stock Exchange (SGX Nifty) and global cues.
At 8.00 am (IST), Nifty futures trading on SGX were trading 36 points, or 0.36 per cent higher at 10,399, indicating a positive start for the Nifty50. Here is a list of top stocks that are likely to be in focus in today’s trading session:
Adani Enterprises: India’s Adani said on Monday it had canceled plans with Downer EDI Ltd to help develop and run its Carmichael coal mine in Australia after failing to secure a cheap government loan for the A$16.5 billion ($13 billion) project.
DRL, Aurobindo Pharma: Indian drug companies Aurobindo Pharma and Dr Reddy’s Laboratories are emerging as the frontrunners to buy out bankrupt Orchid Pharma Ltd. as they seek to expand their capacities.
YES Bank, IndusInd Bank: Investors would closely monitor private lenders Yes Bank and IndusInd Bank when trading begins on Monday, as the two stocks are included in the benchmark Sensex, replacing drugmakers Cipla and Lupin. With the changes in the index, weightage of the BFSI sector in the BSE30 benchmark will reach at its all-time high, whereas that of healthcare sector will hit a seven-year low.
Future Supply Chain: Shares of Future Supply Chain Solutions, the logistics arm of the Future Group, will list on the bourses on Monday. The initial public offering of the company was oversubscribed 7.56 times. The issue was open for subscription from December 5 to December 8.
Raymond: Textile major Raymond launched its first ever Rs 250 crore linen manufacturing plant at Amravati that will cater to the company’s own brands, domestic and international markets. The facility is expected to produce 1,200 tonnes of linen yarns and 4.8 million meters of linen and blended fabrics per annum.
Motherson Sumi: The company is closing in on two acquisitions. It has a list of companies, and has hired one of the big four consultancies to help it. The company has also finalised an agreement with one of the target companies.
Tobacco stocks: Shares of tobacco firms are likely to make merry as the Karnataka High Court on Friday quashed government rules that mandated stringent graphic health warnings on tobacco products, in a decision seen as a major victory for the tobacco industry and a setback for health advocates.
Zensar Technologies:Zensar Technologies, the IT services company from the RPG Group, has pruned the list of its smaller and non-scalable clients to focus only on those who did more deals in the domain of cloud, analytics, customer experience and cyber security, CEO and MD Sandeep Kishore told ET.
Indiabulls Real Estate: Realty developer Indiabulls Real Estate has struck an alliance with international luxury hotel investment and management group Mandarin Oriental Hotel Group as hotel partner for its residential development in central London’s Hanover Square.
PVR: The largest domestic multiplex operator expects to have 1,000 screens by FY21-22, adding 80-90 screens organically every year, Chairman Ajay Bijili told ETMarkets.com on the sidelines of Cineasia 2017 in Hong Kong.
Axis Bank: Bain Capital has taken a $450 million bridge loan from JPMorgan Chase to finance its multi-billion bet on third-largest lender, Axis Bank, as the Boston, Massachusetts-headquartered alternative asset manager moves towards the last leg of concluding the largest private equity deal.
Bharti Airtel:Bharti Airtel may have to pay a fine for the alleged violation of rules on using Aadhaar for its electronic know-your-customer (e-KYC) verification process, according to an official of the Unique Identification Authority of India (UIDAI).
Pharma stocks: Audits of Indian drug manufacturing facilities by the Food and Drug Administration are set to rise sharply after October’s Mutual Recognition Agreement between the US regulator and eight European Union member states.
Eveready Industries:Eveready Industries India (EIIL) on Friday said it has received orders worth Rs 23.85 crore for supply of ceiling fans and smart LED street lighting luminaires from Energy Efficiency Services (EESL) and Kolkata Municipal Corporation.
Jaiprakash Associates: Troubled real estate developer Jaiprakash Associates plans to sell off its five hospitality assets under the Jaypee Hotels and Resorts brand at an estimated asking rate of Rs 2,500 crore, a person aware of the development said.