Stocks to Watch: Zomato, SBI, Adani Group, Britannia, ONGC, Gland Pharma

Stocks to Watch Today: According to reports, Zomato is likely to witness a block deal on Wednesday.

Stocks to Watch Today: The key benchmark indices are likely to start trade on a quiet note amid subdued global cues from the overseas markets. The equity markets will be looking for cues from the GDP numbers to be announced after market hours on Wednesday.

At 07:45 AM, the SGX Nifty futures quoted at 18,742 as against the spot Nifty close of 18,618 yesterday.

Meanwhile, the following stocks are likely to see some action in trades on Wednesday.

Zomato: Shares of the food delivery company are likely to be in focus amid reports that  Alibaba Group Holding plans to sell about 3 per cent stake worth $200 million through a block deal today. The Chinese e-commerce giant, through its finance affiliate Ant Group, currently owns a 13.3 per cent stake in Zomato. READ MORE

Adani Enterprises: Shares of the flagship Adani Group company and other related firms are likely to see some action after Adani Properties on Tuesday won the bid for the renovation of Dharavi, Mumbai, in bid worth Rs 5,069 crore. The project is expected to be completed in 17 years. READ MORE

SBI: The bank’s Executive Committee on Tuesday approved a proposal to raise up to Rs 10,000 crore via Infrastructure Bonds (including a green shoe option of Rs. 5,000 crore) through a public issue or private placement, during FY23.

Britannia Industries: The company has entered into a joint venture with French cheese maker Bel SA to develop, manufacture, market, distribute, trade and sell cheese products in India and certain other territories. READ MORE

Gland Pharma: The company has entered into a put option agreement to acquire French firm Cenexi Group for an equity value not exceeding 20 million euros (approx. Rs 1,000 crore to expand its contract development and manufacturing business in Europe. READ MORE

ONGC: The government-appointed Kirit Parikh review panel has recommending a floor and ceiling price for natural gas produced from legacy fields of state-owned firms for five years at $4 per million British thermal unit and $6.5 million British thermal unit, respectively, as against the current rate of $8.57 according to sources. 

Spandana Sphoorty Financial: The company’s board is scheduled to meet on December 02 to consider and approve fund raising though issue of debentures on private placement basis.

Rice-related: The government on Tuesday lifted the ban on exports of organic non-basmati rice, including broken rice, a move which would help in promoting the outbound shipments of the commodity. Rice exports stood at $5.5 billion during April-September this fiscal. It was $9.7 billion in 2021-22 period. READ MORE

Biocon: The company’s unit Biocon Biologics completed the multi-billion dollar acquisition of the global biosimilars business of its partner Viatris Inc. In February 2022, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to $3.33 billion (about Rs 24,990 crore). 

AstraZeneca Pharma: The drug-maker received approval from the regulator to market anti-diabetes medication.  The approval is applicable for both diabetic and non-diabetic CKD patients, it added.

Union Bank: The state-owned bank has raised Rs 2,200 crore in capital through tier II bonds to replace maturing instruments and support business.

Stocks in F&O ban: BHEL, Delta Corp, Indiabulls Housing Finance and PNB are the stocks in F&O ban period on Wednesday.