Markets could continue to experience bouts of volatility given news regarding the Omicron variant and RBI policy meeting on December 8th. As of 7:30 am, SGX December Nifty futures were listed at 17,267, up 114 points. In the meantime, here are the top stocks to focus on in trading today.
FMCG actions: The umbrella organization of the Fast-Moving Consumer Goods Distributors (FMCG) has researched a price disparity between traditional distributors and other organized business-to-business (B2B) distribution companies, both online and offline. line. The bigger discount offered by FMCG companies to B2B distributors is the main cause. READ MORE
Aurobindo Pharma, Unichem Laboratories: The two pharmaceutical companies have recalled various products from the US market due to manufacturing issues. According to the latest application report released by the United States Food and Drug Administration (USFDA), the US unit of Aurobindo is recalling 7,296 containers of tablets of Carvedilol, a blood pressure medication. READ MORE
Maruti: A senior automaker official warned that longer waiting periods with a semiconductor shortage that in turn affected production could negatively impact demand for cars. The company is said to have pending orders of around 2.5 lakh units.
MotoCorp Heroes: The company has expanded its operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina. The latter will make new investments to rapidly expand all business operations for Hero MotoCorp products.
Larsen & Toubro: AM Naik, non-executive chairman of L&T, says the company has lost as many as 14 large orders in the country to companies that lack the proper technical expertise and experience. However, the company made up for its losses by winning projects abroad. Naik said that today L&T does 60% of its work outside of India. READ MORE
Tech Mahindra: The IT services company acquired 100% stake in Florida-based Activus Connect in a $ 62 million cash deal. The latter is a provider of work-from-home customer experience management solutions. The acquisition will strengthen Tech Mahindra’s capabilities in emerging solutions for the workplace and strengthen the CX portfolio end-to-end, the company said in a statement.
Telecom actions: The Department of Telecommunications (DoT) released bank guarantees of around Rs 9,200 crore deposited for license fees and spectrum usage by telecommunications companies, as part of the reform program announced by the government in September.
Apparently a bank guarantee of around Rs 4,000 crore has been released for Bharti Airtel, Rs 2,500 crore for Vodafone Idea and Rs 2,700 crore for Reliance Jio. At the same time, the British telecoms giant Vodafone has filed a request with the Indian authorities for the settlement of their retroactive tax dispute. The company said it “had always believed” that no taxes were owed to the company.
Sun Pharma Advanced Research Company (SPARC): The company has signed a licensing agreement with Biomodifying LLC. As part of the deal, the Indian company will exclusively license intellectual property, including all patents and patent applications owned or controlled by Biomodifying, as well as antibodies developed for multiple uses, including cancer.
Neogen chemicals: The board of directors of the company is to meet on December 08 to examine, evaluate and approve the proposal to raise funds by issuing any instrument or security.
Infotech GSS: The board of directors of the company has approved the issuance of convertible warrants worth Rs 29.96 crore to promoters and non-promoters at Rs 107 per share. In addition, the board of directors has also identified Polimeraas as a potential acquisition target and plans to invest Rs 25 crore in the company to acquire up to 10 percent stake.
PTC Financial Services India: The company informed the exchanges that it received Rs 125 crore as part of the resolution amount on its stressed IL&FS Tamil Nadu Power Company loan account.
Stocks under F&O ban: Indiabulls Housing Finance and Vodafone Idea are the only securities prohibited for M&O today.