Stocks to Watch: NTPC, LIC Housing, Alembic Pharma, SIS, Gail, Puravankara

Stocks to Watch Today: After a strong start to the final week of 2022, the markets are likely to extend gains on Tuesday morning and global cues remain cheerful. At 07:50 AM, the SGX Nifty futures quoted at 18,080 as against the spot Nifty 50 close of 18,015 yesterday.

Meanwhile, the following stocks are likely to see some action in trades on Tuesday.

NTPC: The power major has signed a non-binding MoU with Italy-based Maire Technimont Group’s Indian subsidiary to jointly evaluate and explore the possibility to develop commercial scale green methanol production facility at NTPC’s project in India.

Suven Pharma: Global private equity giant Advent International has inked a pact to buy 50.1 per cent stake in Hyderabad-based Suven Pharmaceuticals for Rs 6,313 crore. The former will launch an open offer for another 26 per cent stake at Rs 495 per share. READ MORE

Share India Securities (SIS): The company’s board on December 26 approved a proposal to raise up to Rs 1,000 crore by way of rights issue of specified shares.

Jet Airwarys: With continuing uncertainty over the airline’s future, at least two senior executives as well as some pilots and cabin crew have quit the airline, according to sources. Jalan Kalrock consortium emerged as the winning bidder for Jet Airways under the insolvency resolution process in June 2021 but the carrier is yet to start operations.

GAIL India: The state-run energy firm is set to carry out exploration and production of mineral crude oil, natural gas, and coal bed methane (CBM) in 486.39 square kilometre area of Barmer-Jaisalmer block, a top official has said.

Alembic Pharmaceuticals: The drug maker has received final approval from the US health regulator for its generic Fulvestrant injection used in treatment of breast cancer. The approved injection is therapeutically equivalent to the reference listed drug product (RLD), Faslodex Injection, of AstraZeneca Pharmaceuticals, it added.

Puravankara: The company’s board is scheduled to meet on December 29 to consider and approve the proposal for issuance of non-convertible debentures by way of private placement in one or more tranches.

Time Technoplast: The company has received a repeat order of Rs 75 crore from Adani Total Gas for supply of CNG cascades made from Type-IV composite cylinder. The delivery of these cascades will begin from January 2023.

LIC Housing Finance: The mortgage lender has revised its home loan rates upwards by 35 basis points (bps), effective from December 26. The new rates start from 8.65 per cent, said the company in a statement on Monday.

Stocks in F&O ban: Punjab National Bank (PNB) was the sole stock in F&O ban period on Tuesday.