Stocks to Watch: PNB, Tube Investments, Indian Oil, Laurus Labs, SBI, Lupin

Stocks to Watch: Punjab National Bank (PNB) on Thursday said it received the government's approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company

After scaling new record highs in the previous session, the Sensex and Nifty indices are looking to open flat on Friday amid a lack of decisive global triggers. 

At 07:30 am, the SGX Nifty futures were nearly unchanged at 18,630 levels, indicating a flat opening for the Nifty index.

US markets were closed on Thursday night on account of Thanksgiving. In Asia this morning, most indices edged lower in early trade with Nikkei, Hang Seng, Strai times slipping up to 0.4 per cent. 

That said, here are some stocks to watch out in trade today: 

PNB/ UTI AMC: The Punjab National Bank (PNB) on Thursday said it received the government’s approval to divest its entire stake (15.22 per cent) in UTI Asset Management Company as part of its non-core asset sale plan to shore up its capital base. Read here

SBI: State Bank of India (SBI), the country’s largest lender, is planning to raise Rs 10,000 crore worth of infrastructure bonds during the current financial year. Read more

HDFC Bank: The private-sector lender has decided to elevate Kaizad Bharucha as deputy managing director and appoint Bhavesh Zaveri to the board as whole-time executive director. Read more

Tube Investments of India: The Murugappa Group company has acquired a 50 per cent stake in X2Fuels and Energy, an early-stage start-up incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras. Read here

Indian Oil Corporation: ICICI Bank, ICICI Prudential Life Insurance, HDFC Life Insurance and SBI Life Insurance have entered into agreements to invest in seed capital of a proposed joint venture of Indian Oil Corporation and Chennai Petroleum Corporation. The project is expected to see an investment of Rs 31,580 crore. 

TVS Motor: The company has expanded its global footprint and has launched its first showroom in Singapore. 

Tata Steel Long: The company has further acquired 46.87 million shares at a premium of Rs 54 per share of Neelachal Ispat Nigam for Rs 300 crore (tranche 2). 

PVR: PVR has opened 12 screen superlex in Thiruvananthapuram, Kerala.
 

Allcargo Logistics: The company’s wholly owned subsidiary Allcargo Belgium NV has entered into a share purchase agreement with NBG Logistik Beteiligungs und Beratungsges mbH to acquire 75 per cent stake in Fair Trade GmbH Schiffahrt, Handel und Logistik for €12 million (Rs 101.95 crore)

Laurus Labs: The company will acquire 7.4 lakh shares of Ethan Energy India at Rs 52.70 apiece to secure 26 per cent shareholding

Lupin: The US FDA has issued a Form-483 with eight observations each for the drug product facility and API facility of the company’s Mandideep unit-1.

West Coast Paper Mills: ICRA has revised the long-term rating to AA from AA-. 

Veranda Learning Solutions: The company is collaborating with IIM Raipur and SHRM (Society for Human Resource Management) to launch an Executive Post Graduate Programme (Online MBA) in HR Management.

Future Consumer: The firm's board has decided to withdraw merger between Integrated Food Park Limited and the company. 

KIOCL: The board informed that the operations of pellet plant unit at Mangalore have been restarted with effect from November 24, 2022.