Stocks to Watch: ITC, Asian Paints, BPCL, Vedanta, Apollo

Market


NEW DELHI :

Here is the list of the top 10 stocks that are likely to be in focus on Thursday:

ITC Ltd: Is likely to spin off and list its wholly-owned software services business in the coming months at a valuation of 20,000-25,000 crore. ITC Infotech provides technology solutions and services to enterprises across industries such as banking and financial services, healthcare, manufacturing, consumer goods, and travel and hospitality.

Asian Paints: Asian Paints Ltd has been battling severe cost inflation, and its strategy of taking slow price hikes had become a sore point for its investors. But there is some relief for investors on this front. According to analysts at Edelweiss Securities Ltd, the market leader in decorative paints is taking another round of price hike in a month from 5 December.

BPCL: The Centre is aiming to complete the privatisation of five to six state-owned firms, including Bharat Petroleum Corp Ltd, this fiscal , secretary of the Department of Investment and Public Asset Management Tuhin Kanta Pandey said on Wednesday. Pandey also said that the Centre aims to close the privatisation of BEML and Shipping Corp of India and list the insurance behemoth Life Insurance Corp on local bourses by March 2022.

Apollo Hospitals: Shares of Apollo Hospitals Enterprise have outpaced peers, galloping 32% over the past one month, in contrast to a 3% fall in the broad Nifty 50. Much of this investor optimism has come on the back of the firm’s robust September quarter performance, released last week. The management’s upbeat outlook has also added to the enthusiasm of the Street.

PNB Housing Finance: The company on Wednesday said that the Securities Appellate Tribunal has allowed it to withdraw its appeal in the matter related to the 4,000 crore Carlyle deal, which stands scrapped now. 

Vedanta: Anil Agarwal-led Vedanta on Wednesday unveiled plans for a complete overhaul of the corporate structure and the company is planning to list its aluminium, iron, and steel, and oil and gas businesses as separate entities.

Zomato: Is in talks to invest as much as $500 million in Grofers, making it the food delivery and restaurant platform’s largest investment so far in a company. The proposed deal marks an extension of its food delivery battle with Swiggy into the so-called ultrafast commerce segment, which has been attracting a slug of investor capital globally.

IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday released its shareholding pattern for the period ended 5 November, which showed that the stake of individuals with capital up to 2 lakh (retail investors) has increased significantly to 20.80% compared with 14.17% as of 30 September.

Jindal Drilling & Industries: Has acquired an offshore jack-up rig ‘Jindal Supreme’ from Venus Drilling Pte for $16.75 million. The rig is currently operating under contract with the Oil and Natural Gas Corporation (ONGC).

Radico Khaitan: After the success of its luxury liquor brands such as Rampur whiskey and Jaisalmer Indian craft gin, Indian spirits maker Radico Khaitan plans to expand its premium portfolio with several new brands in the next two years, in both, the white and brown spirit categories.

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