Reliance Industries, RBL Bank, HP Adhesives, SBI Cards among stocks in focus today

Reliance Industries, RBL Bank, HP Adhesives, SBI Cards among stocks in focus today

Sensex and Nifty ended last week nearly unchanged owing to the negative trading momentum on the first and last day of trade. S&P BSE Sensex is currently placed at 57,124 points while the NSE Nifty 50 index is at 17,003. India VIX closed the previous week just above 16 levels. “The final week of the calendar year is expected to remain volatile, thanks to the scheduled expiry of December month derivatives contracts. Besides, the updates on COVID cases will further add to the choppiness,” said Ajit Mishra, VP Research, Religare Broking. He added that investors should remain cautious and wait for Nifty to close above 17,150. 

HP Adhesives: Shares of HP Adhesives will list on the stock exchanges today. The Rs 125.96 crore IPO closed earlier this month with an overall subscription of 20.96 times, led by retail investors who subscribed their portion 81.24 times. Shares of the company were offered in a fixed price band of Rs 262-274 per share.

RBL Bank: RBL Bank stock is likely to witness heightened activity today after the lender saw its CEO Vishwavir Ahuja go on leave and the Reserve Bank of India (RBI) stepping in by appointing Yogesh Dayal to the board of the private sector lender. Interim CEO &MD Rajeev Ahuja on Sunday sought to downplay fears the bank might be in financial trouble.

Reliance Industries: Mukesh Ambani-led Reliance Industries said that the National Company Law Tribunal, Mumbai Bench has earlier this month approved the withdrawal of the O2C Scheme. RIL had planned to demerge its O2C unit.

United Breweries: The National Company Law Tribunal has imposed a stay on the orders passed by the trade regulator CCI. The order had slapped penalties on several beer makers including United Breweries Ltd (UBL). The fine imposed on UBL is of Rs 751 crore. 

SBI Cards and Payment Services: The company has informed the stock exchanges that a committee has approved the allotment of 6500 fixed-rate Non-Convertible Debentures of the face value of Rs 10,00,000 each aggregating to Rs 650 crores on private placement basis. 

Canara Bank: The lender informed the bourses that it has raised Rs 2,500 crore by issuing Basel III Compliant Tier 11, Series I Bonds. The securities will have a coupon rate of 7.09% per annum. 

Adani Transmission: Adani Transmission, a private sector power transmission company owned by billionaire Gautam Adani, said that it has received the Letter of Intent (LoI) for the acquisition of a renewable energy evacuation system under Khavda-Bhuj Transmission. Adani Transmission will build, own, operate and maintain the transmission project for a period of 35 years.

Check the source here –Source, Financial Express.