Indian benchmark indices BSE Sensex and NSE Nifty 50 are likely to open on a muted note on weekly F&O expiry amid weak global cues. SGX Nifty hinted at a flat to negative start for domestic equities as Nifty futures traded marginally lower at 18734 levels. “Markets will react to the outcome of the US Fed meet in early trade. A decisive move above 18,750 in Nifty would further fuel the recovery, else consolidation will resume. Meanwhile, traders should maintain their focus on identifying stocks from the sectors which are trading upbeat. Apart from the index majors, one can selectively choose from the broader indices too, citing the recent improvement in their participation,” said Ajit Mishra, VP – Technical Research, Religare Broking.
Stocks in focus on 15 December, Thursday
Poonawalla Fincorp: Adar Poonawalla-owned NBFC Poonawalla Fincorp on Wednesday announced that it will sell its housing arm to TPG Group for Rs 3,900 crore. The deal has been struck at around 3.5x of the company’s Rs 1,081.8 crore net worth in March 2022. The Poonawalla Fincorp’s board approved the sale of Poonawalla Housing Finance to Perseus SG Pte, an entity affiliated with TPG Global, LLC.
NTPC: State-run power giant NTPC will raise Rs 500 crore through the issuance of non-convertible debentures on a private placement on Friday. NTPC has decided to issue unsecured non-convertible debentures of Rs 500 crore on 16 December 2022, through private placement at a coupon of 7.44% per annum with a door-to-door maturity of 10 years 3 months 30 days on 15 April 2033, a BSE filing stated.
IRCTC: The government will sell up to 5% stake in the Indian Railway Catering and Tourism Corporation (IRCTC) through an offer for sale (OFS). The floor price for the OFS is set at Rs 680 per share. The promoter (Government of India) is expected to garner Rs 2,720 crore for the exchequer after offloading 5% of stake. Through the OFS route, the government intends to sell a 2.5% stake (2,00,00,000 equity shares), with the option to sell an extra 2.5%, bringing the total issue size to 4 crore shares or 5% stake.
Wipro: Wipro announced the launch of new financial services advisory company, Capco in the Middle East. Capco will offer strategic management and technology consulting capabilities to financial services firms in the Middle East to enable their transformation, digitisation, and business consolidation initiatives.
State Bank of India: SBI board has approved raising capital by way of issuance of Basel III compliant debt instrument in INR and/or any other convertible currency, up to FY24 up to an amount of Rs 10,000 crore. This is subject to concurrence from the Government of India.