Stocks to Watch: Paytm, Shriram group, Voda Idea, Greenlam, Vedanta

Anand Rathi Wealth to make its debut on the bourses on Tuesday, GMP indicates 50 per cent listing gain for the stock

The markets are likely to open on a subdued note given the fresh fears around the Omicorn variant globally. At 08:10 AM, the SGX Nifty was quoted at 17,305, down 59 points. Meanwhile, here the top stocks to focus in trade on Friday.

Anand Rathi Wealth: The stock to make its debut on the bourses today. The issue was subscribed 9.78 times. According to reports, the Grey Market Premium indicates a 50 per cent listing gain for the debutant.

Paytm: Riding on strong festival season activity, Paytm’s gross merchandise value (GMV) saw a 129 per cent jump in October-November to Rs 1.7 trillion. The value of loans disbursed through the platform increased 375 per cent YoY to Rs 1,320 crore ($178 million) in the first two months of the third quarter. READ MORE

Vedanta: The Anil Agarwal-controlled Vedanta and its related group entities have withdrawn multiple tax disputes with the Union government. This includes the income tax appeal pending before the Delhi bench of the Income Tax Appellate Tribunal in a matter relating to international taxation. Its parent Vedanta Resources has also filed the application seeking withdrawal of the claim and termination of the arbitral proceedings pending before the Permanent Court for Arbitration in the International Court of Justice. READ MORE

Shriram Group: As part of the restructuring of the Shriram Group, Shriram Capital and Shriram City Union Finance will merge with Shriram Transport Finance Company. The new entity, which will be the largest retail non-banking financial company (NBFC) in India, will be named Shriram Finance Ltd. After the merger, the new entity will have an assets under management (AUM) of over Rs 1.5 trillion, more than 20 million consumers, and a distribution network of around 3,500. READ MORE

PB Infotech (PolicyBazaar): The company’s board has approved a proposal to incorporate a wholly owned subsidiary to carry on business of Account Aggregator – which shall be licenced by the Reserve Bank of India.

Edelweiss:  Edelweiss Wealth Management has bought back 5.28 per cent of its shares from the partner PAG by paying Rs 230 crore, thus increasing the stake to 44.16 per cent. According to the agreement, which was to lapse this month, no premium or discount was involved.

Greenlam: Surfacing solutions brand Greenlam plans to invest Rs 950 crore in 2-3 years towards setting up of the third laminate plant and made a foray into the plywood and particle board business. As part of the plan, the company will invest Rs 600 crore on machinery and Rs 225 crore on the laminate capacity.

Meanwhile, the company’s board has approved stock split in the ratio of 5:1, i.e. each equity share with the face value of Rs 5 will be sub-divided into five equity shares with a face value of Re. 1 each.

Vodafone Idea: The telecom company has partnered with Hungama Music to launch a music streaming service to drive digital adoption and monetisation. Initially, the company plans to offer six months of premium subscription of Hungama Music at no extra cost to its customers.

BPCL: The company has collaborated with Bhabha Atomic Research Centre (BARC) to scale up Alkaline Electrolyser technology for Green Hydrogen production.

M. K. Exim (India): The company’s board is scheduled to meet on December 21 to consider a proposal for bonus issue of equity shares.

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