After the bears were back in action in Thursday's trade, SGX Nifty which was last down by 0.2% point to a weak opening for the Indian markets even as the US markets in overnight trade gained by up to 0.87 per cent on the Nasdaq.
Here are the few stocks that shall remain in focus in trade on Friday, November 20, 2020
1. Gland Pharma:
India's biggest pharma IPO which closed with a subscription of 2.06 times last week is set to debut today. The company received weak retail investor response. However, experts suggest it to make decent gains on listing due to its robust earnings. The final issue price for the IPO was fixed at Rs. 1500 per share.
2. Max Financial Services:
The NBFC company will be watched out for as its promoter Max Ventures Investment Holdings Pvt Ltd pledged 9.25 lakh equity shares of the company. Also, the company got an approval from Department of Economic Affairs, Ministry of Finance, on November 18, 2020 approving the Share Swap Transaction with Mitsui Sumitomo Insurance Company ("MSI").
Mphasis as per the exchange filing on November 19, 2020 has acquired Datalytyx, a DataOps specialist in the Snowflake and Talend ecosystem". The financial consideration of the transaction is at Rs. 13.3 million pound.
RIL in its biggest fund raise in the retail sector "...has received cumulative subscription amount of Rs 47,265 crore from the following financial partners and allotted 69.27 crore equity shares to them," the company said in a statement. In 2 months time, the company sold over 10% holding in RRVL to global investors including Silver Lake Partners, KKR, GIC, TPG and General Atlantic, sovereign wealth funds Mubadala, Abu Dhabi Investment Authority (ADIA) and PIF.
SBI which was dragged by 5% on November 20 will also be in key focus today. SBI as per reports has inked an MoU with Luxembourg Stock Exchange for establishing a long-term cooperation mechanism and promoting ESG (environmental, social, and corporate governance) and green finance.
6. Vodafone Idea:
In relation to the merger of Indus Tower Limited ("Indus") with Bharti Infratel Limited ("Infratel"), the telco informed the exchanges that Vodafone Idea Limited ("the Company") has sold its 11.15% stake in Indus for a cash consideration of Rs. 37.6 billion in accordance with the terms of the agreement and out of the consideration received from Infratel, the Company has made a prepayment of Rs. 24 billion which will be adjusted in line with terms of the agreement.
7. Apollo Hospitals:
The healthcare firm has collaborated with Tata Medical and Diagnostics Ltd for launching 'TataMD CHECK' diagnostic test against Covid 19 in the country which shall fetch quicker results.