Stocks To Watch
HDFC Life: A unit of Standard Life Aberdeen Plc is selling 27.8 million shares in the company through a single large deal, according to terms of the deal accessed by Bloomberg. Shares are being offered between Rs 605 -636.5 each. Price range represents a discount of 0.03% to 4.98% to Wednesday’s closing price. There is a lockup on Standard Life until March 29, 2021. Bank of America
Bharti Infratel: Nettle Infrastructure Investments, a wholly-owned subsidiary of Bharti Airtel, acquired additional equity stake of 4.94% in the company worth Rs 2,882.32 crore. Nettle's stake now stands at 18.62% while Bharti Airtel now holds over 41% stake in Bharti Infratel.
Wipro: Won a multi-year contract from Verifone to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company.
Good Year: To consider declaration of interim dividend for the Financial Year 2020-21 on December 7. The record date for the same has been set at December 15.
SpiceJet: Having experienced success in cargo operations during the pandemic, the company intends to expand it considerably over the next two years, said Chairman and Managing Director, Ajay Singh in annual report.
Raymond: Wholly-owned subsidiary Silver Spark Apparel has entered into a share transfer agreement to divest its entire stake in its own wholly-owned subsidiary Dress Master Apparel. This will be done for a cash consideration of Rs 19.07 crore and the transaction is likely to be completed within two months from the date of signing. Buyers Monisha Monnappa Bachangada and Bachangada Nachappa Monnappa do not belong to any promoter group or promoter entity.
Mahindra & Mahindra: CARE Ratings reaffirmed AAA rating on long-term bank facilities of Rs 1,402.42 crore and A1+ rating short-term bank facilities of Rs 38.58 crore.
Jindal Stainless: Made timely repayment of interest and principal obligations on the Non-Convertible Debentures issued by the company.
Trident: Has issued Commercial Paper worth Rs 50 crore. The maturity date for the same has been set at February 2, 2021. The coupon/interest offered is 4.75% per annum.
Bharti Infratel: Manish Dawar will not be able to join the company as CFO due to 'unavoidable reasons.'
BHEL: Dada Dhuniwale Khandwa Power Limited - a Joint Venture company of BHEL and Madhya Pradesh Power Generation Company Limited, which was under liquidation, has been dissolved.
Karur Vysya Bank: ICRA reaffirmed A1+ rating on certificate of deposit programme
Gujarat Ambuja Exports: CRISIL has revised (upgraded) its rating on the bank facilities of the company. The long-term rating has been upgraded from A+/Positive to AA-/Stable and short term rating has been upgraded from A1 to A1+.
Burger King IPO: Issue fully subscribed on the first day of bidding. Overall subscription stands at 3.14 times. Institutional portion subscribed 0.17 times, non-institutional portion subscribed 0.72 times while retail portion subscribed 15.68 times.