Stocks to Watch: RIL, ONGC, Vedanta, Lupin - Mint
Premium Sensex fell 20.46 points or 0.03% to end at 58,786.67 on Friday, and the Nifty was down 5.50 points or 0.03% at 17,511.30. (Photo: Reuters) 2 min read . Updated: 13 Dec 2021, 07:59 AM IST Rashmi Sanyal
- Tega Industries will make its debut on stock exchanges today. The IPO was subscribed 219 times by the end of the bidding, making it one of the most successful issues of this year. The initial share sale was of up to 1,36,69,478 equity shares and had a price range of ₹443-453 a share
NEW DELHI: Here is the list of top stocks likely to be in focus on Monday:
Reliance Industries: A consortium led by Reliance Industries Ltd (RIL) is among companies seeking to acquire Sintex Industries Ltd, the bankrupt textile maker said in a stock exchange filing on Sunday. RIL has formed a partnership with Assets Care and Reconstruction Enterprises Ltd to bid for Sintex as part of the bankruptcy resolution process.
ONGC: The company is seeking a minimum price of $3.5-$4 for the natural gas it plans to produce from coal seams in Jharkhand and a field in Tripura. Oil and Natural Gas Corp. (ONGC) has issued separate tenders seeking buyers of 0.02 million standard cubic meters per day of coal-bed methane (CBM) it plans to produce from the North Karanpura CBM block in Jharkhand and 0.1 mmscmd from Khubal field in Tripura.
Vedanta Ltd: The company has approved a second interim dividend of ₹13.50 per equity share on face value of Re 1 per share for FY22, amounting to ₹5,019 crore.
Lupin: Homegrown drug major Lupin is recalling 4,113 cartons of generic oral contraceptive tablets in the US, the world's largest market for medicines, due to manufacturing issues. The affected lot has been produced at the company's Pithampur-based manufacturing facility in Madhya Pradesh.
United Breweries: The company has plans to introduce brands from the global portfolio of Heineken, the Dutch multinational, which now owns a majority stake. It is also looking at prioritising premiumization of the beer market.
CSB Bank: Promoters of CSB Bank, the Fairfax Group owned by Canadian billionaire Prem Watsa, would like to hold onto their 51% stake in the bank for as long as possible and increase it if allowed. The RBI last month relaxed shareholding norms for private banks by doing away with intermediate milestones and increasing the maximum long-term shareholding to 26% from 15%.
Gati Ltd: Allcargo group firm Gati Ltd is looking to become a ₹3,000-crore company in three years, driven by key accounts, micro, small and medium enterprises (MSMEs) and business-to-business (B2B) retail. It has identified three areas, including talent acquisition and building infrastructure, to achieve the target.
UltraTech Cement: The company participated in the e-auction of Ravur Limestone block, conducted by Karnataka government, and has been declared as the preferred bidder.
Public sector banks: The government is unlikely to announce capital infusion for public sector banks (PSBs) in the upcoming Budget, as their financial health has improved on the back of reduction in bad loans. To augment their resources, banks would be encouraged to raise funds from the market and also by selling their non-core assets. For the current fiscal, the Centre has earmarked ₹20,000 crore for recapitalisation of PSBs.
Minda Industries: The company has entered into a joint venture agreement with FRIWO AG Germany, a leading international manufacturer of innovative power supply units and e-drive solutions, to manufacture and supply various electric vehicle components in the Indian subcontinent. The company will hold a 50.1% stake in the joint venture entity.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!