Stocks to Watch: RIL, Burger King, PowerGrid, TVS Motor, banks, IT shares

Bank shares may be in focus as RBI proposes to introduce revised norms for banks for setting aside capital for operational risks

The key benchmark indices may start trade in green given the positive overseas cues. However, weekly derivatives expiry and US Federal decision to withdraw stimulus at a faster pace can weigh down investor sentiment. As of 08:20 AM, the SGX Nifty futures were up 123 points at 17,360. Meanwhile, here the top stocks to focus in trade on Friday.

IT stocks: Chip makers are likely to be in focus, as the Union Cabinet on Wednesday cleared a comprehensive Rs 76,000-crore ($10-billion) package to build a much-needed semiconductor ecosystem in the country. The incentives will be extended to a range of new units -- greenfield chip fab and display fab units, apart from compound semiconductor and ATMP (assembly, testing, marking, and packaging) facilities. READ MORE              

Reliance Industries: The Mukesh Ambani-led firm aims to get the first cargo of oil, about 500,000 barrels, from its new Abu Dhabi-based trading unit in December, a source familiar with the matter said. READ MORE

Eveready: The battery maker seems to be gearing up for a slew of changes, as the Khaitan family is likely to give up the driver’s seat after more than two decades come May 2022. The Burman family, promoters of Dabur and the largest shareholder, were in favour of the company being run professionally. The Khaitan family, however, will retain the promoter tag with its minority holding. READ MORE

Infosys: The IT major’s subsidiary, Infosys Consulting will be acquiring Singtel's delivery centre in Malaysia for a consideration of up to 6 million Singapore dollars, including the value of net assets. The move also aligns with Infosys' long-term strategy for Communications, Media, and Technology (CMT) vertical including platform-led transformation of Customer and Service Experience for clients. READ MORE

Adani Ports & Special Economic Zone: The company has signed a Share Purchase Agreement with Adani Transmission for divestment of 100 per cent stake in MPSEZ Utilities.

Wipro: To acquire US-based LeanSwift Solutions, a system integrator of Infor Products, whose service capabilities include ERP, e-commerce, digital transformation, supply chain, warehouse management systems, business intelligence and integrations.

PowerGrid Corporation of India: The company’s board has approved an interim dividend of Rs 7 per share, including a special dividend of Rs 3 per share, payable on January 11, 2022.

TVS Motor Company: Has expanded its collaboration with global auto giant BMW Motorrad with a tie-up in the electric vehicle space. The companies are planning to come up with the first electric two-wheeler within the next 24 months. Commenting on the development, Sudarshan Venu, joint managing director of TVS Motor said "Our focus will be on two-wheelers. With extra emphasis on urban areas, we will look at cool, next-gen customers in the global market." READ MORE

Jindal Steel and Power (JSPL): The company is willing to bid aggressively for the Odisha-based steel maker NINL, on December 23 the scheduled date for bidding. Speaking to PTI, managing director, Sudarshan Venu, of TVS Motor said, "We are extremely serious about it (NINL) and will bid aggressively for the asset. This asset is more valuable to us in terms of our operations there in Odisha."

SpiceJet: The low-budget airline has entered into an agreement with Canadian aircraft manufacturer De Havilland to settle all disputes related to the Q400 turboprop aircraft purchase agreement. "All related proceedings before the UK court and execution proceedings before the Delhi High Court have been stayed and will be withdrawn upon compliance with the settlement terms," a statement from SpiceJet read.

Burger King: The company  plans to raise up to Rs 1,500 crore by way of issue of equity shares to public or private basis.

Bank stocks: The Reserve Bank of India (RBI) plans to introduce revised norms for banks for setting aside capital for operational risks from April 01, 2023, to ensure robustness in working of banking entities.

Meanwhile, close to nine lakh employees of various state-run banks will go on a two-day nation-wide strike beginning Thursday to protest against the government's move to privatise two public sector lenders.

Winsome Textile: The market regulator Sebi has slapped a fine of over Rs 72 crore on Winsome Textile Industries, its directors and two other individuals in a matter pertaining to issuance of global depository receipts (GDR) by the firm. According to a statement released by SEBI, "Winsome caused the investors in the securities market in India to believe that the full consideration for GDRs had been received by it which was not true and thereby, induced the investors in India to deal in securities, and committed fraud on the investors in India." READ MORE

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