Stocks in Focus: During trading, today there will be focus on stocks like Zomato, Zee and ONGC.
Stocks in Focus: Even today, the domestic equity benchmark index Sensex and Nifty 50 are seeing more than one percent selling after a heavy fall in the previous trading session. In the last trading session, the Sensex was down by 889.40 points at 57,011.74 and the Nifty closed at 16,985.20 with a fall of 263.20 points. According to Nagraj Shetty, Technical Research Analyst, HDFC Securities, according to the long term chart, there is a possibility of a bearish trend continuing in the market and it may slip till 16750. Nifty has now got support at the level of 17180. Today, the focus will be on stocks like Shriram Properties, Rategain Travel, Zomato, ITC, ONGC and Zee during trading.
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Shriram Properties
Today there is a listing of Shriram Properties, one of the leading residential real estate development companies of South India. This IPO was subscribed 4.60 times. Under the Rs 600 crore IPO of Shriram Properties, new shares worth Rs 250 crore have been made.
RateGain Travel Technologies
Goldman Sox has recently bought 7.19 lakh shares of Rategain Travel listed on domestic exchanges. This purchase took place on Friday in the form of a bulk deal at a price of Rs 361.7. Apart from this, in another deal, Edelweiss Mutual Fund bought 6.82 lakh shares of Rategain at a price of Rs 360.7 through a bulk deal on NSE.
Bharti Airtel
Veteran telecom company Bharti Airtel has paid the spectrum liability acquired in the 2014 auction to the Department of Telecommunications, Government of India. 15519 crore rupees were owed to the government on Airtel. The company had acquired 128.4 MHz (including Telenor spectrum) in this auction for Rs 19051 crore.
ITC
ITC has acquired 100 equity shares of Mother Sparsh Baby Rare Pvt Ltd for Rs 10 each and 940 compulsorily convertible preference shares of Rs 10 each. This is 8.70 per cent of the share capital of Mother Sparsh on a fully diluted basis.
Zomato
Leading online food delivery platform Zomato has acquired 7.89 per cent stake in BigFoot Retail Solutions. Bigfoot is a logistics startup under the brand name of Shiprocket.
ZEEL
Zee Entertainment Enterprises (ZEEL) is in the final stages of the proposed merger process with Sony Pictures Networks India, a subsidiary of Sony Company of Japan. This process can be completed by 22 December. After the announcement of the merger on September 22, both the companies had asked to complete the process within 90 days.
ONGC
In the first half of the current financial year, April-September 2021, ONGC’s unit OPal (ONGC Petro Additions Limited) had a net profit (Profit After Tax) of Rs 18 crore. ONGC Chairman and Managing Director Subhash Kumar said that OPal is in the process of exiting the SEZ, due to which the company’s profit can increase by up to Rs 800 crore annually.
(Article: Surbhi Jain)
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