Stocks to watch: M&M, Axis Bank, Indian Bank, IDBI Bank, PNB, sugar stocks

At 08:47 AM, Nifty futures on the Singapore Exchange (SGX) traded 57.5 points, or 0.42 per cent higher at 13,642.50, indicating a positive start for the Indian market on Wednesday. 

Here's a list of stocks that may remain in focus today. 

Mahindra & Mahindra (M&M) on Tuesday said it will hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rise in input costs.

Axis Bank: In a clarification on press statement dated December 14 issued by Sydney, Australia-based Scams Breaking website, the bank said it has complied with its underwriting practices and approval processes for any exposure taken in relation to Srei Equipment Finance Limited and Srei Infra Finance Limited. "In summary, the report is grossly inaccurate and baseless," the lender added. READ MORE
 

Indian Bank said on Tuesday said that it has reported to the Reserve Bank of India (RBI) the account of IL&FS Financial Services (IFIN) as fraud with outstanding dues of over Rs 408 crore.

Infra-related stocks might trade actively today after Finance Minister Nirmala Sitharaman said the Union Budget for FY22 would have emphasis on sustaining high public expenditure on infrastructure to revive the economy.

PVR: The company is scheduled to hold a board meeting on December 18 to consider  raising of funds. 

Biocon: Biocon Biologics, a fully integrated ‘pure play’ biosimilars company and a subsidiary of Biocon has signed a Memorandum of Understanding (MoU) with the Christian Social Services Commission (CSSC), to facilitate health and education services. 

Sugar stocks may also trade actively as the Union Cabinet may consider a proposal to provide export subsidy worth Rs 3,600 crore to sugar mills for the marketing year 2020-21 in today's meeting.

IDBI Bank: The lender opened its Qualified Institutional Placement issue worth up to Rs 2,000 crore. 

Punjab National Bank also launched its QIP worth Rs 7,000 crore at a floor price of Rs 37.35 per share. 

Embassy Office Parks REIT on Tuesday approved fund raising plans through institutional placement of its securities. It will be first such QIP by a real estate investment trust in the country. According to sources, the REIT could raise anywhere between $500 million and $600 million.