Stocks in Focus: In the last three consecutive trading days, the domestic equity benchmark indices Sensex (Sensex) and Nifty (Nifty 50) were up. On the chart, Nifty is forming a small negative candle with long lower shadows. According to Nagraj Shetty, Technical Research Analyst, HDFC Securities, technically it is showing signs of formation of a long-led doji type candle pattern. Usually, if the doji is formed after a rally in the market and is at the important resistance level, then a correction can be seen from the heights. Talking about the fundamental side, according to Ajit Mishra, Vice President-Research, Religare Broking, the market will be eyeing the CPI (Consumer Price Index) and IIP (Index of Industrial Production) data which will decide the movement of the market. ITC, Reliance, Star Health and Allied Insurance, One 97 Communications, Dr Reddy’s, HFCL and TVS Motor will be eyed during the business today.
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ITC
Shares of FMCG sector giant ITC can see a rise even today. The company’s management has announced that it will organize Institutional Investors and Financial Analysts Day next week on December 14. A trading day earlier, it had strengthened by about 5 per cent.
Reliance Industries
Mukesh Ambani-owned Reliance Industries has informed that it has received the due amount of Rs 26,338.14 crore for the second and final call of 41.90 crore equity shares of Partly Paid Shares (Reliance PP). It is 99 per cent of the entire amount. After this the company has allotted fully paid up equity shares to the investors.
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Star Health and Allied Insurance Company
The shares of the private sector insurance company are listed on domestic exchanges today. In this company, there is an investment of Rakesh Jhunjhunwala, a veteran investor called Warren Buffett of India. Despite the name Big Bull being associated, this IPO did not get a great response from the investors and it could not even be fully subscribed.
Paytm (One 97 Communications)
Paytm’s parent company has informed that its payments bank has got the scheduled bank status from the central bank RBI. Now this Paytm Payments Bank can participate in Request for Proposals (RFP), initial auction, fixed rate and variable rate repos-reverse repos and marginal standing facility issued by government and other large corporations.
Dr Reddy’s Laboratories
Veteran pharma company Dr Reddy’s Laboratories has informed about the launch of Valsartan tablets in the US. According to estimates, the company can sell drugs worth $ 150 million (Rs 1134 crore) in the US.
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HFCL
HFCL has raised around Rs 600 crore through qualified institutional placement for equity shares. HFCL has allotted 8.72 crore shares to investors at the rate of Rs 68.75 per share. The company has allotted these shares at a discount of about Rs 3.58 per share from the market price.
TVS Motor
Auto sector giant TVS Motor has informed the stock exchanges that it has partnered with Group Q’s subsidiary Activa Motors SA to expand its business in Central America. Activa SA Motors will open three flagship outlets and around 50 dealerships for TVS Motor Company in a phased manner in Nicaragua and Costa Rica as part of this partnership.
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