Stocks to Watch: ITC, Lupin, ABFRL, Glenmark, NBFCs, Tata group stocks

The key benchmark indices are likely to exhibit range-bound movement as market participants await further cues from global peers. As of 08:10 AM, the SGX Nifty futures were down 8 points at 17,318. Meanwhile, here the top stocks to focus in trade on Friday.

NBFCs: The RBI on Tuesday introduced a prompt corrective action (PCA) framework for large non-banking financial companies (NBFCs), putting restrictions on para-banks whenever vital financial metrics dip below the prescribed threshold. The PCA framework for NBFCs comes into effect on October 1 next year on the basis of their financial position on or after March 31. READ MORE

ITC: The company at its first-ever investors meet has not ruled out the possibility of listing its infotech business and is open to seeing what is right to create value for the non-cigarettes FMCG business that has leveraged institutional synergies. READ MORE

Tata Group stocks: The Tata Group is in discussions with some major international companies, including those from Taiwan, for its foray into the semiconductor chip business. READ MORE

Lupin: The US Food and Drug Administration (FDA) has cleared Lupin’s Goa plant paving the way for new product approvals. The Goa plant has an annual capacity for producing 6 billion units of tablets, capsules or oral suspension drugs. It accounts for 18-20 per cent of the drug maker’s US revenue. READ MORE

Glenmark: The company’s biotechnology subsidiary Ichnos Sciences, has licensed the commercialisation rights of a monoclonal antibody for autoimmune diseases to Almirall for €20.8 million (around Rs 180 crore). “This is our eighth out-licensing deal in the last two decades during which we have made $250-$300 million by licensing our IPs to global partners,” Glenn Saldanha, CEO and MD of Glenmark, told Business Standard. READ MORE

Zomato: The company announced senior level hirings with ex-Unilever executive Anjalli Ravi Kumar joining as Chief Sustainability Officer and Nitin Savara as Deputy Chief Financial Officer.

Aditya Birla Fashion and Retail (ABFRL): Aditya Birla Group’s fashion retail division ABFRL has forayed into sports and active-wear segment on signing a long-term licensing agreement with US-based brand management company Authentic Brands Group to exclusively distribute and sell Reebok products via wholesale, e-commerce, and Reebok branded retail stores in India and other Association of Southeast Asian Nations countries. READ MORE

Adani Green Energy: The renewable energy arm of diversified Adani Group, has signed an agreement with the Solar Energy Corporation of India to supply 4,667 MW of green power.  This is the world’s largest ever green power purchase agreement, said Adani.

HFCL: The communication equipment maker has successfully closed a Rs 600 crore fresh fund raise via the qualified institutional placement (QIP) route. The proceeds will be used for setting up of new manufacturing facilities and product development.

Mastek: The IT firm’s board is scheduled to meet on December 17 to consider various options to raise funds by way of issue of equity shares.

Deepak Nitrate: The company’s board is scheduled to meet on December 22 to consider various options to raise funds.

BigBloc Construction: The company has approved expansion of business operations through joint venture agreement with SCG (Siam Cement Group) – one of the largest and oldest cement and building material company in Thailand and South East Asia since 1913.

Stocks in F&O ban: Escorts, Indiabulls Housing Finance and Vodafone Idea are the only stocks in the F&O ban period today.