Stocks to Watch: Hero MotoCorp, Aurobindo, Neogen, SPARC, telecom shares

The markets may continue to experience bouts of volatility given the news flow around the Omicron variant and RBI policy meet on December 08. As of 07:30 AM, the SGX December Nifty futures were quoted at 17,267, up 114 points. Meanwhile, here the top stocks to focus in trade today.

FMCG stocks: The apex body of distributors of fast-moving consumer goods (FMCG) has seek price disparity between traditional distributors and other organised business-to-business (B2B) distribution firms, both online and offline. The larger discount offered by FMCG firms to B2B distributors is the main cause. READ MORE

Aurobindo Pharma, Unichem Laboratories: Both the pharma firms have recalled different products in the US market, due to manufacturing issues. As per the latest enforcement report issued by the US Food and Drug Administration (USFDA), Aurobindo’s US-based unit is recalling 7,296 containers of hypertension drug Carvedilol tablets. READ MORE

Maruti: A senior official of the car maker has cautioned that longer waiting periods with semiconductor shortage which in turn has been affecting production could have a negative impact on car demand. The company reportedly has pending orders of around 2.5 lakh units.

Hero MotoCorp: The company has expanded operations in Argentina with the opening of its flagship dealership in Buenos Aires in partnership with Gilera Motors Argentina. The latter will make new investments to rapidly expand all business operations for Hero MotoCorp’s products.

Larsen & Toubro: A M Naik, non-executive chairman of L&T claims that the company has lost as many as 14 large orders in the country, to companies that don’t possess adequate technical expertise and experience. However, the company has made up for the losses by winning projects overseas. Naik said that today L&T does 60 per cent of its work outside India. READ MORE

Tech Mahindra: The IT services firm has acquired 100 per cent stake in Florida-based Activus Connect in an all cash deal worth $62 million. The latter is a provider of work at home customer experience management solutions. The acquisition will bolster Tech Mahindra’s capabilities in emerging workplace solutions and strengthen the end-to-end CX portfolio, said the company in a statement.

Telecom shares: The Department of Telecom (DoT) has released bank guarantees of around Rs 9,200 crore deposited for licence fee and spectrum usage charges by the telecom companies, as part of the reform package announced by the government in September.

Reportedly, bank guarantee of around Rs 4,000 crore has been released for Bharti Airtel, Rs 2,500 crore for Vodafone Idea, and Rs 2,700 crore of Reliance Jio. Meanwhile, the British telecom giant Vodafone has filed an application with Indian authorities for settlement of their retrospective tax dispute. The company said, that “always been confident” that no tax is due on the company.

Sun Pharma Advanced Research Company (SPARC): The company has inked a licensing pact with Biomodifying LLC. As part of the agreement, the Indian firm will exclusively licence intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses including for cancer.

Neogen Chemicals: The company’s board is scheduled to meet on December 08 to consider, evaluate and approve the proposal for raising funds by issue of any instruments or securities.

GSS Infotech: The company’s board has approved issuance of convertible warrants worth Rs 29.96 crore to promoters and non-promoters at Rs 107 per share. Further, the board has also identified Polimeraas as a potential acquisition target, and plans to invest Rs 25 crore in the company for acquiring up to 10 per cent stake.

PTC India Financial Services: The company informed exchanges that it received Rs 125 crore as part of the resolution amount in its stressed loan account IL&FS Tamil Nadu Power Company.

Stocks in F&O ban: Indiabulls Housing Finance and Vodafone Idea are the only stocks in F&O ban today.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor