Stocks to Watch: The domestic equity market is expected to open on a positive note on Friday, November 22. At 7:47 AM, the GIFT Nifty futures were trading at 23,435.50, down 30 points, or 0.13%.
This suggests that the NIFTY50 index will open 86 points higher.
Wall Street's main indexes closed higher after choppy trading on Thursday, with the blue-chip Dow and the S&P 500 hitting one-week tops.
Shares of Wall Street's biggest company, Nvidia, added 0.5% after teetering following its earnings release on Wednesday. The chip company surpassed expectations for quarterly results and projected fourth-quarter revenue above estimates.
Here is a list of stocks that may remain in focus today.
Protean eGov Technologies: The stock will be in focus today as NSE Investments is set to divest up to 20.31% of its stake in Mumbai-based e-governance solutions provider through an offer for sale (OFS).
The OFS will consist of a base issue of 10.16% equity, with a greenshoe option for an additional 10.16% equity. As per the statement, the floor price for the issue is set at ₹1,550 per share.
The NSE Investments statement added that the share sale will open on November 22 for non-retail investors and on November 25 for retail investors.
SJVN: The company said that it has signed a Memorandum of Understanding (MoU) with the Energy Department, Government of Rajasthan, to spearhead renewable energy development in the state.
Under the MoU, SJVN would develop 5 GW pumped storage projects and 2 GW floating solar projects in the state. Both parties have agreed to collaborate on the development of renewable energy on a long-term basis.
Zinka Logistics: On Friday, November 22, at 10 am, the National Stock Exchange (NSE) and the BSE will list Zinka Logistics shares. The IPO of Zinka Logistics got a muted response from investors, with the issue being subscribed 1.86 times.
Adani Group: Shares of Adani Group stocks will continue to be on the investors' radar today. On Thursday, Adani Group stocks faced heavy drubbing, with
Adani Energy and Adani Enterprises tumbling more than 20%, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay a $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts.
In the wake of this development, Kenya's President William Ruto has cancelled two major deals involving the Adani Group after the tycoon was indicted for fraud by US prosecutors.
The Adani Group was set to invest $1.85bn in Kenya's main airport in exchange for a contract to run it for 30 years, as well as a $736m deal with the energy ministry to construct power lines.
Tata Power:
Tata Power on Thursday said it has signed an initial pact with the Asian Development Bank (ADB) to evaluate financing worth $4.25 billion for its several strategic projects.
A memorandum of understanding has been signed with ADB in Baku, Azerbaijan, Tata Power said in a statement.
"The MoU has been signed to evaluate financing for its several strategic projects aimed at enhancing India's power infrastructure and promoting renewable and clean energy," it said.
The total estimated project cost is about $4.25 billion, Tata Power said.
LIC: Life Insurance Corporation of India (LIC) has increased its stake in LTIMindtree Ltd. from 5.033% to 7.034%, according to an exchange filing on Thursday. The state-run insurer raised its stake by 2.001%—from 1.49 crore to 2.08 crore shares—in the information technology major between March 20 and November 19 this year via open market purchases, the filing showed. The shares were acquired at an average price of ₹4,950.8 apiece, it added.
Mphasis: Mphasis on Thursday was named ‘Official Digital Partner’ of MoneyGram Haas F1 Team, announcing a multi-year technology-driven partnership. This partnership reflects a shared commitment to innovation and excellence, leveraging advanced technology to drive superior performance in one of the most competitive environments in the sporting world—Formula 1.
Raymond:
Raymond on Thursday received a 'no objection' letter from the NSE and the BSE for the demerger of Raymond Realty Ltd, the company's real estate arm. This comes over two months after the demerger of Raymond's lifestyle business. Raymond Realty, after obtaining the necessary approvals, will be listed on both the NSE and the BSE.
Man Industries: The company, in its exchange filing, said that it will monetise assets of arm Merino Shelters and incorporate a wholly owned subsidiary branch in Taiwan.
Wipro: The company, in its exchange filing, said that its Board of Directors had fixed Tuesday, December 3, 2024, as the record date to determine the equity shareholders of the Company eligible for bonus equity shares (including Stock Dividend on ADS) of the company.
(With inputs from PTI, Reuters)
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