stock to watch friday
Stocks to watch: Shares of firms like Cipla, Eicher Motors, Allin Electronics, Lotus, RIL and others will be in focus in Friday’s trade.
sgx smelly The January 50 futures contract is pointing to a positive opening in the domestic stock markets on the last trading day of the year. The futures contract was trading 90 points higher at 18,370, up 0.49% from its previous close.
Lotus Chocolate Company: Reliance Retail Ventures, the arm of Reliance Industries, has signed an agreement to acquire 51% stake of promoter and promoter group entities in BSE-listed Lotus Chocolate Company for Rs 74 crore. The company will make an open offer to public shareholders to acquire an additional 26% stake in the confectionery maker.
Cipla: Cipla (EU) Limited, the company’s wholly owned UK subsidiary, has signed definitive agreements to invest Euro 15 million in Atheris GmbH. Etris GmbH is a global leader in the direct delivery of ribonucleic acid or RNA therapeutics to the respiratory system, including administration by inhalation. This investment will facilitate a long-term strategic partnership between Cipla and Ethris for the development of messenger RNA (mRNA) based therapies, Cipla said in a release.
Elin Electronics: The stock is likely to make a quiet debut on the exchanges as indicated by the gray market premium. The company fixed the issue price at Rs 247 and IPO Was subscribed 3.1 times.
Eicher Motors: The parent company of Royal Enfield announced a strategic collaboration in the field of electric motorcycles with Spain-based Stark Future SL. The former will invest close to €50 million in Stark Future for a 10.35 percent equity stake.
Banks: Increase in profitability has helped banks improve their provisions, resulting in net non-performing assets (NPAs) to net advances ratio falling to 1.3 per cent in September 2022 – the lowest in 10 years – RBI Bank (RBI) ) said in the Financial Stability Report.
Dish TV: The company appointed former bureaucrat Lalit Bihari Singhal as an independent director on its board. Meanwhile, shareholders voted against two ordinary resolutions to adopt the company’s FY21 and FY22 financial statements for the second time.
Tata Power: The Tata group company informed BSE that it raised Rs 1,000 crore by issuing non-convertible debentures on private placement basis.
India Dynamics: The public sector defense firm’s share price has rallied over 14 per cent in last five trading sessions due to brokerage’s buy rating on government procurement, strong order book, growth in exports and expectations of stable operating profit margin.
Pharma: The Indian pharmaceutical industry’s recent tussle with the US drug regulator could impact future pipelines, say analysts. The data shows that there were about 60 Official Action Indication (OAI) citations by the USFDA to Indian sites between November 2019 and November 2022. For the most part, in the past 12 months, there have been five OAI classifications issued, two of which have been issued. Proceeded to ‘Import Warning’.
Godrej Properties: The real-estate player has acquired around 9 acres of land in Haryana’s Gurugram, estimating a revenue potential of around Rs 2,500 crore in a residential project.
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