The SGX Nifty 50 December futures contract points to a negative start for domestic equities on Thursday. The futures contract was trading at 18,178, down 63.5 points or 0.35% from the previous close.
Expiry of the December derivative series will bring in some volatility in the market. The overall trading volume is expected to remain muted due to lower investor participation amid year-end holidays.
State Bank of India: The country’s largest lender, said on Wednesday it will consider approval for raising funds through the issue of infrastructure bonds worth up to 100 billion rupees ($1.21 billion) during fiscal year 2023.
KFin Technologies: The stock is likely to witness a tepid listing given the muted demand to the IPO and a weak market sentiment. The stock may open around its issue price of Rs 366 per share, indicates the GMP (Grey Market Premium).
SBI: The bank’s execute committee is scheduled to meet on January 03 to consider a proposal for raising funds.
Bharti Airtel: The telecom operator plans to invest up to Rs 28,000 crore in network with a focus on 5G rollout, a company official said on Wednesday. While the company is planning to increase capital expenditure by 10 – 15 per cent, it has no plans to charge a premium rate for 5G services as it has not worked in several countries that tried to do so.
Sheela Foam: According to media reports, the company is likely to buyout competitor Kurl-on in a Rs 2,000 crore deal. Ghaziabad-based Sheela Foam sells mattresses under the brand Sleepwell and commands a market share of about 25 per cent, as per an ICICIdirect report.
NBFCs: While rising interest rates and tighter liquidity are giving negative signals for the financial sector, increasing economic activity could mean higher business volumes for lenders.
Life Insurance Corporation of India (LIC): The insurer has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments.
McLeod Russel: As part of the restructuring with secured lenders, debt-laden McLeod Russel India is in the process of negotiating with “multiple investors” to monetise assets and infuse fresh capital. The final third credit rating of the company, which was delayed due to the Covid pandemic, is likely to be submitted by January 10, the official said.
Read all the Latest Business News here
Comments
0 comment