Stocks to Watch: SBI, IDFC, IndiGo, NTPC, Cars24, PolicyBazaar, Textiles

Kristen Richey

Photo: Bloomberg

Today is the last trading day of the calendar year 2021, the key benchmarks have logged strong gains so far this year, and seem to be on course for more upside in the New Year, with midcap and smallcaps likely to continue the outperformance as suggested by market analysts.

Today on Friday, the key benchmark indices may witness yet another range-bound trading session due to lack of significant triggers. As of 08:10 AM, the SGX Nifty January futures were quoted flat around 17,270. Meanwhile, here are the top stocks to focus in trade on Thursday.

Textiles stocks: GST Council headed by Finance Minister Nirmala Sitharaman will meet in New Delhi on Friday to discuss the recently announced hikes in GST rates for textiles, which comes into effect from January 1. Select states have been asking for a roll-back.

IndiGo: Shareholders of InterGlobe Aviation, the parent company of IndiGo, have voted to scrap a clause in the articles of association (AoA) that gives the airline’s two promoters a right of first refusal (RoFR) over the acquisition of each other’s shares. The removal of the clause will now allow either side to sell or transfer shares to a third party without giving each other notice.

IDFC FIRST Bank: The private lender has set in motion the process of merging IDFC Ltd and IDFC Financial Holding Company with itself. Both entities form part of the bank promoter group. The bank, however, did not elaborate on the timeline for the merger.

SBI: The largest PSU bank in India said it will acquire about 10 per cent stake in the India International Clearing Corporation (IICC). IICC is the first international clearing corporation set up at GIFT-IFSC that acts as a central counterparty providing clearing and settlement and risk management services. SBI expects to buy up to 9.95 per cent stake, subject to a maximum investment of Rs 34.03 crore, by March 31, 2022.

PB Infotech: The parent company of PolicyBazaar has informed the stock exchanges, that the board has approved an investment of Rs 700 crore in one or more tranches in PolicyBazaar Insurance Brokers, and an investment of almost Rs 300 crore in PaisaBazaar Marketing and Consulting Private Limited.

Cars24: One of the leading e-commerce platform for pre-owned vehicles has collaborated with Bajaj Finance to lift the veil from used car financing and facilitate a quick, frictionless and streamlined shopping experience. This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation.

NTPC: The state-owned power giant’s arm NTPC Renewable Energy Ltd (NREL) will float a global engineering procurement and construction tender to set up a 3GW renewable energy project with a battery storage system worth around Rs 15,000 crore by February 2022.

Mahindra & Mahindra: The auto-maker has informed BSE that CRISIL has reaffirmed its ‘CRISIL AAA/ Stable/ CRISIL A1+’ ratings on the bank facilities and its various debt instruments.

Indo Amines: The company has fixed January 15 as the record date for its proposed stock split in the ratio of 1:2. Consequently each equity share with a face value of Rs 10 will be sub-divided into two equity shares of Rs 5 each.

Stocks in F&O ban: There is not a single stock in the F&O ban period today.


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