Stocks to Watch: Auto, Voda Idea, Axis, IDBI Bank, Dabur, Spandana Sphoorty

Stocks to Watch Today: Markets to track Gujarat, Himachal Pradesh assembly results. Shares of rate sensitive sectors to be in focus as RBI policy signals likely further rate hikes.

Stocks to Watch Today: A day after the RBI policy outcome, the markets shall keep a track of assembly election results of Gujarat and Himachal Pradesh. While the overall mood seems sombre given the rate hike and global cues, volatility may set-in amid the counting of votes.

At 08:00 AM, the SGX Nifty futures quoted at 18,663 as against the spot Nifty 50 close of 18,560 yesterday.

Meanwhile, apart from the rate sensitive’s following stocks are likely to see some action in trades on Thursday.

BFSI, Banks, Auto: Sectors to be impact by rate hike

The expectation of further rate hikes is a dampener on growth expectations. It’s likely that as the credit/deposit ratio rises, banks will offer higher deposit rates, further putting pressure on net interest margin. The banking, financial services and insurance sector is the most rate-sensitive and the monetary policy committee may have called a halt to the rally. READ MORE

Dabur India: The company on Wednesday announced its entry into the women’s personal hygiene space with the launch of Fem Ultra Care Sanitary Napkins.  The product will only be sold online, which will further strengthen Fem’s presence in the personal care market. READ MORE

Axis Bank: The private sector bank is likely to raise up to Rs 12,000 crore through tier-2 bonds, marking the second-largest capital-raise by a bank through debt so far in the current financial year, sources said. READ MORE

Spandana Sphoorty Financial: The company has scheduled its  board meeting on December 10 to consider and approve issue of Debentures on private placement basis.

Mastek: The company has scheduled its board meet on December 11 to consider a proposal to issue equity shares by way of Private Placement (for consideration other than cash) in partial discharge of the purchase consideration for acquisition of Compulsorily Convertible Preference Shares of Mastek Enterprise Solutions (formerly known as Trans American Information Systems), a subsidiary of the company.

IDBI Bank: The divestment call has received strong response. According to the Department of Investment and Public Asset Management (DIPAM), it received 167 queries from at least 9-10 potential serious bidders about the proposed stake sale and transfer of management control in IDBI Bank. READ MORE

Lumax Industries: The company’s board approved proposals for setting up of the new Greenfield project at Chakan, Pune (Maharashtra) and availing Long Term Credit Facilities to fund the aforesaid project.

Cummins: The global power solutions provider Cummins in collaboration with Tecnimont will help GAIL in setting up a proton exchange membrane electrolyzer for the public sector natural gas company. 

Vodafone Idea: Abu Dhabi’s Emirates Telecommunications Group Co., also known as Etisalat, now the largest shareholder after raising its stake to 11 per cent from 10 per cent, said it doesn’t intend to make an offer for the British firm that’s lost a quarter of its value so far this year. 

Meanwhile, in a separate development, the government said was open to the idea of a comprehensive package for the survival and revival of Vodafone Idea (VIL), besides what it has offered under a relief package for telecom companies. READ MORE

HCL Technologies: The IT firm announced a partnership with Intel Corporation and Mavenir to provide scalable private 5G network solutions for communication service providers (CSP) and broader cross-vertical enterprises.

Insurers, auto companies: The insurance regulator Irdai has proposed to introduce an insurance cover of three years for cars and five years for two-wheelers with an aim to allow wider choice to customers. 

Take Solutions: The company reported a net loss of Rs 8.19 crore for the quarter ended September 2022 marginally lesser than a loss of Rs 8.84 crore in the corresponding quarter a year ago. Total income was down 75.5 per cent YoY at Rs 48.91 crore.

Stocks in F&O ban: GNFC, Indiabulls Housing Finance and PNB are the stocks in F&O ban period on Thursday.