Stocks to watch on December 7: Nifty futures on the Gift Nifty traded at 21,055, down 42 points or 0.20% signalling a negative start for Dalal Street. Here’s a look at the top stocks that will likely be in focus today:
Adani Wilmar: The Adani group and Singapore’s Wilmar International are learnt to have approached several private equity (PE) firms to sell part of their stake in their consumer-staple joint venture, Adani Wilmar.
IRCON: The government will sell up to an 8 per cent stake in IRCON International through an offer-for-sale, which will open on Thursday. It plans to offload 37.6 million equity shares for non-retail investors on Thursday. An additional 4 per cent stake will be sold on Friday if the offer is oversubscribed.
Paytm: Paytm will slow down disbursing loans under Rs 50,000, weeks after the central bank tightened rules on consumer lending. This could be a reduction of 50 per cent, it said.
Delta Corp: The Calcutta High Court has granted interim relief to a unit of Delta Corp relating to the Rs 6,384 crore payment for the shortfall of goods and services tax. It directed that no effect shall be given to any order passed by the Tax Authority in relation to this tax demand.
Bharti Airtel: Warburg Pincus is offering 17.5 million shares in the company, via a block deal today, at a floor price of Rs 1,005 per share. It plans to raise $211 million through the stake sale, as per Bloomberg.
IDFC First Bank: Cloverdell Investment (Warburg Pincus) is reported to be selling 1.3 per cent stake in the bank via a block deal today. Deal size is estimated at $100 million with a floor price of Rs 85.7 per share, reported CNBC-TV18.
Dr Reddy’s: Has entered into an exclusive collaboration with Coya Therapeutics for development and commercialisation of COYA 302, an investigational combination therapy for treatment of Amyotrophic Lateral Sclerosis (ALS).
Bharat Electronics: BEL has won orders worth Rs 580 cr from the Indian Army for AMC of Radars.
RITES: Has inked a pact with Meghalaya Industrial Development Corporation to develop multi-modal logistics projects in Meghalaya.
TV18 Broadcast: Network18 Media & Investments and TV18 Broadcast have announced a scheme of arrangement. As per the scheme, TV18 and e-Eighteen.com will merge with Network18.
Axiscades Technologies: It has acquired 100 per cent stake in Hyderabad-based Epcogen.
Kothari Petrochemicals: The company said operations at its factory in Manali Industrial area in Chennai have been temporarily disrupted due to cyclone Michaung.
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