Stocks to Watch: SBI, Biocon, PNB, NDTV, PTC India, ZIM Lab

Market


Here is the list of the top 10 stocks that will be in focus today:

State Bank of India: Country’s largest lender State Bank of India (SBI) on Thursday said it would consider raising funds by issuing up to 10,000 crore of infrastructure bonds. This will also include a greenshoe option of 5,000 crore, the bank said in a regulatory filing. The fundraising, if approved, would be through a public issue or private placement during fiscal 2023, SBI said. Its executive committee of the central board will meet on 29 November to consider the fundraising.

Biocon: Biotechnology major Biocon on Thursday said its subsidiary Biocon Biologics has allotted equity shares worth 2,205.63 crore to it as part of an equity infusion to fund the latter’s acquisition of Viatris Inc’s biosimilars business. In February this year, Biocon Biologics Ltd (BBL) inked a pact to acquire Viatris Inc’s biosimilars business for consideration of up to USD 3.335 billion (about 24,990 crore). Biocon Ltd has subscribed to the equity shares and allotment has been made by BBL on November 23 for a cash consideration of 2,205.63 crore

Punjab National Bank: State-owned Punjab National Bank (PNB) on Thursday said it has received the government approval to divestment its entire stake in UTI Asset Management Company Limited as part of its non-core asset sale plan to shore up its capital base. The bank, which holds a 15.22% stake in UTI AMC, will divestment its entire stake in the mutual fund company in single or multiple tranches for the realisation of gain on investment. Its current valuation stands at 1,329 crore.

NDTV: Around 28 lakh NDTV equity shares were subscribed on the third day of the open offer led by Vishvapradhan Commercial along with AMG Media Networks and Adani Enterprises. This accounts for over 16.5% of the total number of shares that are going to be acquired. The 492.81 crore open offer kicked start on November 22 and will continue till December 5, 2022. As per the BSE data, the open offer in NDTV witnessed a subscription of 27,72,159 equity shares — 16.54% of the book size of 1,67,62,530 equity shares.

Laurus Labs: Lauras Labs has entered into a Share Subscription Agreement and Shareholders’ Agreement with Ethan Energy India for buying a 26% stake in Ethan Energy India, according to a report. This will help the company to consume 100% of the solar energy to be supplied by Ethan Energy India from their 10 MW solar energy plant, the report added.

ZIM Laboratories: Drug delivery solution provider ZIM Laboratories Ltd on Wednesday said it is planning to get listed on the National Stock Exchange of India (NSE) on November 25. ZIM Laboratories, already listed on the BSE since June 2018, will now extend its listing to the NSE, the company said in a statement. As of date, the company said, it has provided over 85 per cent return to its investors from the listing price.

PTC India: Power trading solution provider PTC India’s consolidated net profit more than trebled to 157.11 crore in the March 2022 quarter, mainly due to lower expenses. The consolidated net profit of the company was 49.77 crore in the quarter ended March 31, 2021, a BSE filing showed. Its total expenses dipped to 2,890.57 in the quarter from 3,792.56 crore a year ago.

PVR: To strengthen its foothold across markets, PVR Cinemas on Thursday announced the opening of its first and biggest 12-screen superplex in the city of Kerala at Lulu Mall, Thiruvananthapuram. The operation for this cinema will commence on December 5, 2022. The 12- screen property will host international formats like IMAX and 4DX, 2 of PVR’s luxury formats, LUXE.

Manaksia Ltd: For the financial year 2022-2023 the company has declared an interim dividend of 150% and for the purpose of the same 25th November 2022 has been set as the record date which makes the stock likely to be in focus tomorrow. The company has said in a stock exchange filing that its Board of Directors has “Declared Interim Dividend @ 150% (i.e, Rs. 3.00/- per equity shares having face value of Rs. 2/- each) on the equity shares of the Company for the Financial Year 2022-2023. The Interim Dividend shall be paid on or before Friday, 9 December 2022.

Commercial Syn Bags, Dev Information Technology, Mafatlal Industries, and Maharashtra Seamless: These four stocks will be in focus on November 25 as they will turn ex-split and ex-bonus on this day. These stocks are multi-baggers and have given hefty returns between 100% to 450% to their investors in the last 2 years. 3 of the stocks are small-caps, while one is midcap.

 


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