Stocks to Watch: Sula Vineyards, RIL, Spandana, Speciality Restaurants

Stocks to Watch Today: The NSE Nifty 50 is likely to start Thursday’s trade with a gap-up of nearly 100 points, a day after sharp volatility, as US markets extended gains. At 07:30 AM, the SGX Nifty futures quoted at 18,350 as against the spot Nifty 50 close of 18,199 yesterday.

Meanwhile, following stocks are likely to be in focus in trade on Thursday.

Sula Vineyards: Shares of the wine maker will debut on the bourses today. According the Grey Market Premium, the stock is likely to list on a tepid note. The company’s Rs 960.35 IPO was subscribed 2.3 times recently.

Reliance Industries (RIL): The Mukesh-Ambani led company’s retail arm - Reliance Retail has inked a definitive agreement to acquire 100 per cent stake in METRO Cash & Carry India for Rs 2,850 crore. The acquisition will add uniquely positioned multi-category large format stores to Reliance Retail’s store footprint across India and further strengthen its new commerce business, the company said in a release to the exchanges. READ MORE

Torrent Pharma, Reliance Capital: Ahmedabad-based Torrent group has won the race to acquire Reliance Capital after making an offer of Rs 8,640 crore for the company in an auction held on Wednesday. Torrent Pharmaceutical is the flagship company of the Torrent Group. READ MORE

Spandana Sphoorty Financial: The company’s board has approved a proposal to raise up to Rs 300 crore. One, by way of issue of non-convertible debentures worth Rs 200 crore, for a tenure of 14 months. Two, by way of issue of non-convertible debentures worth Rs 100 crore, for a tenure of 36 months.

Speciality Restaurants: The company’s board approved increase in authorised share capital from Rs 58 crore to Rs 67 crore. Further, the board also approved issue of 60 lakh warrants convertible into equity shares on a preferential basis worth Rs 127.23 crore at Rs 212.05 each to non-promoter group or individuals.

Paytm: The Unified Payments Interface (UPI) should stay free till digital transfers become the dominant way of using money, said Vijay Shekhar Sharma, MD & CEO of Paytm. He was speaking at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. A free UPI will bring in more people into the formal economy and have a multiplier effect, said Sharma. READ MORE

Axis Bank: The bank has strengthened its positioning - on both the assets and liability side - and it may be set to deliver sustained improvement in performance. The valuation gap between Axis Bank (which trades at 1.4x core book value (or BV) and peers like ICICI Bank (valued at 2x BV) is expected to narrow. READ ANALYSIS

IndiGrid, G R Infraprojects: Infrastructure investment trust India Grid Trust and G R Infraprojects have joined hands to bid for identified power transmission projects worth Rs 5,000 crore. Additionally, to commence the partnership, they have entered into a framework agreement to acquire 100 per cent stake in Rajgarh Transmission, which the latter had won in March 2022.

MTAR Technologies: The company’s board has approved and taken on record, the proposal for design and development of Small Satellite Launch Vehicle (SSLV) Project 2. And also, MOU between MTAR and Indian National Space Promotion and Authorization Centre (IN- SPACe).

Glenmark Pharma: The drug maker has launched triple fixed-dose combination Teneligliptin with Pioglitazone and Metformin in India for diabetic patients. It is priced at Rs 14.90 per day, thereby reducing the daily cost of therapy by 40 per cent.

Gautam Gems: The company’s board is scheduled to meet on December 30 to consider a proposal to foray into Renewable Energy Sector consisting of Windmill and Solar Energy.

Stocks in F&O ban: GNFC, Indiabulls Housing Finance and IRCTC are the three stocks in F&O ban period on Thursday.