CONCOR, Ircon, DCB Bank, Jindal Saw: Stocks to watch on Friday
Stocks to watch on Friday: Container Corporation of India (CONCOR) has inked a memorandum of understanding (MoU) with NTPC Vidyut Vyapar Nigam Ltd (NWN).
Stocks to watch on Friday: At 08:15 AM, GIFT Nifty traded 7.5 points, or 0.04 per cent lower at 21,073.5, indicating a negative start for domestic equities on December 8, Friday.
Domestic benchmark indices Nifty 50 and Sensex finished below the flat line on Thursday, December 7, after registering a series of record highs on profit booking. With today's fall, the market snapped its seven-session rally. The NSE Nifty 50 index shed 0.17 per cent, or 36.55 points, to end at 20,901.15 points, while the S&P BSE Sensex closed 0.19 per cent, or 132.04 points, lower at 69,521.69.
Investors will keep an eye on the Reserve Bank of India's (RBI) MPC meet decision, which started on December 6 and will conclude on December 8.
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Here are some stocks that will be in focus on Friday, December 8:
Container Corporation of India (CONCOR) has inked a memorandum of understanding (MoU) with NTPC Vidyut Vyapar Nigam Ltd (NWN). The MoU aims to explore the possibility of setting up PV Solar renewable energy projects in CONCOR terminals.
Banking, financial services, realty, and consumer durables stocks will be in focus on December 8 amid the RBI MPC meeting decision.
The board will consider the proposal of the Promoter Aga Khan Fund for Economic Development to invest $1 crore in the company (Rs 83 crore).
Bank of India:
The board will decide the issue price of qualified institutional placement (QIP).
The company informed through a regulatory filing that temporary disruptions of operations at the company's factory located in Andhra Pradesh due to cyclone Michaung had been brought under control and normalcy had been restored.
The offer for sale (OFS) for retail investors and non-retail investors will open on December 8, as the government decided to use the green shoe option.
On December 7, the non-retail portion of OFS was subscribed 4.63 times of the base size.
The board will consider the proposal to raise funds in a meeting on December 14, 2023.
Oriental Rail Infrastructure:
The company will participate in the Indian Railways tender for 10,000 modern wagons.
General insurance companies' stocks:
General insurance companies' stocks will be in focus after the premium increased in November by 7.4 per cent to Rs 20,624 crore year-on-year (YoY).
Softbank's SVF Growth will offload 1.1 per cent stake in the company which is valued at Rs 9.35 crore. The dilution of stake is seen to take place at a price of Rs 120.5 per share i.e. a discount of 1 per cent over the current market price.
Five Star Business Finance:
PE fund shareholders will sell shares in the company via block deal. The dilution is seen to occur at a price of Rs 730 per share.
Titagarh Rail Systems:
The company launched the QIP on December with floor price at Rs 976.1 per share.
The broking firm has got a relief from SAT. As part of which, the company can now acquire new clients for two years.
IRB Infrastructure Developers:
The toll collection for the firm has soared by 20 per cent year-on-year.
In respect of the tax assessment for AY17 and AY18, the company has received an interim relief.
The company received an overweight rating with target raised to Rs 535 from the earlier Rs 475.
Investec initiated buy on the counter with a target of Rs 800. The turnaround underway for the company which is set for strong growth for over 3 years.
Tube Investment of India:
Mutual Oswal Mutual Fund bought 10 lakh (0.51%) shares at Rs 3348.09 per share.