One 97 Communications, Sapphire Foods, Vedanta in focus
Shares of One97 Communications & Sapphire Foods will debut on the bourses today.
Trends on the Singapore stock exchange indicates that the Nifty could fall 8 points at the opening bell. Meanwhile, citing faster-than-expected recovery, rising consumer confidence and the resultant spending spike, Swiss brokerage UBS Securities has revised upwards its growth forecast for the current fiscal to 9.5% from 8.9% in September. The brokerage also sees the economy clipping at 7.7% in FY23 but moderating to 6% in FY24, as it expects the benefit of the low-interest rate regime to end by the end of FY23, and it sees the central bank hiking policy rates by 50 bps in the second half of the next fiscal. Here is the list of stocks that will be in focus for today’s trade.
Primary market: Shares of One97 Communications & Sapphire Foods will debut on the bourses today.
Vedanta: The mining major said that its board of directors has decided that, considering the scale, nature, and potential opportunities for various business verticals, the company should undertake a comprehensive review of the corporate structure and evaluate a full range of options and alternatives (including demerger(s), spin-off(s), strategic partnerships etc.) for unlocking value and simplification of corporate structure.
Cadila Healthcare: The pharma company received final nod from US FDA and 180-day exclusivity for Nelarabine injection used to treat certain types of Leukemia and Lymphoma. Bhel said that a cooperation agreement was signed between the company and Zorya Mashproekt, Ukraine at New Delhi on 16 November 2021.
Jindal Drilling and Industries: The company has acquired an offshore jack-up rig ‘Jindal Supreme’ from Venus Drilling Pte. Ltd. for USD 16.75 million.
The Phoenix Mills: The real estate major informed that CPP Investments has, on November 16, 2021, completed its first tranche of investment in Plutocrat Commercial Real Estate Private Limited (PCREPL) on private placement basis and by way of secondary acquisition of equity shares held by the company in PCREPL aggregating to Rs.787 crore.
Seacoast Shipping Services: The company informed that the meeting of the board of directors of the company is scheduled on 24 November 2021, to consider and approve the sub division of face value of equity shares of the company.