Stocks to Watch: RIL, Ambuja Cements, IDBI Bank, Voda Idea, VLS Finance

Stocks to watch today: Volatility is set to grip markets for a fifth straight session on Friday as investors assess newsflow around Covid-19 cases in China, US jobs data, and Ukraine-Russia war.

A better-than-expected reading of ADP private payrolls report in the US showed that employers added 235,000 jobs in December — showing a strong labor market despite the US Fed’s attempt to tame inflation and suggesting there is more room for higher rates.

Meanwhile, Russian President Vladimir Putin has ordered his defence minister to impose a 36-hour ceasefire on the Ukrainian frontline, beginning on Friday. This will coincide with the Russian Orthodox Christmas.

Against these developments, the Nikkei 225 and the Topix in Japan pared their earlier losses to trade marginally higher. South Korea’s Kospi gained 0.37 per cent, and Australia’s S&P/ASX 200 rose 0.34 per cent.

Overnight, Wall Street closed lower yet again with the S&P 500 down 1.16 per cent; Dow Jones 1 per cent; and Nasdaq Composite 1.47 per cent.

At 7:05 AM, SGX Nifty, too, was down about 31 points at 18,036.

Here’s a list of stocks that will be in focus on Friday, January 6:

Reliance Industries: Reliance Jio has signed a partnership with British football club Manchester City (Man City) to become its official mobile communications network partner in India. Man City’s OTT platform CITY+ will be integrated into the JioTV platform and provide exclusive content to Indian viewers, the company said on Thursday. READ MORE

IDBI Bank: In a major dispensation, capital markets regulator Securities and Exchange Board of India (Sebi) acceded to the central government’s request to reclassify its shareholding in IDBI Bank after its disinvestment as “public holding”, the lender told the stock exchanges on Thursday. READ MORE

This is subject to the condition that the government’s voting rights in the bank will not exceed 15 per cent of the total voting rights after the sale.

Ambuja Cements: The company has incorporated a wholly owned subsidiary company in the name of “Ambuja Resources Limited” for manufacturing cement and allied products, alternate fuel and power generation.

M&M: Mahindra West Africa, a subsidiary of Mahindra and Mahindra South Africa (Proprietary) Limited and M&M Ltd, stands voluntarily dissolved.

Vodafone Idea: Debt-ridden telecom firm Vodafone Idea has various requirements, including infusion of capital, and discussions on this front are going on, telecom minister Ashwini Vaishnaw said on Thursday. READ MORE

RVNL: The joint venture between Rail Vikas Nigam Limited-ISC Projects Private Limited has received letter of award (LoA) for ‘design, supply, installation, testing, and commissioning of Ballastless Track for Surat Metro Rail Project, Phase-1. The accepted contract amount is Rs 166.26 crore.

Tata Motors: The board of the company will convene on Jan. 25 to consider and approve the financial results for quarter ended December 2022.

Kewal Kiram Clothing: The company has entered into a strategic partnership with Board of Control for Cricket in India (BCCI) as the Indian Cricket Team’s ‘Official Partner’.

Mukand: The company has completed the transfer of 45.94 acres of the land at Kalwe/ Dighe facility in Thane district in favour of AGP DC Infra Two Private Limited for aggregate consideration of Rs 796.46 crore.

Larsen & Toubro: The company’s subsidiary L&T Realty Developers entered into an agreement to sell its entire stake of 99 per cent in Think Tower Developers for Rs 1 lakh. READ MORE

Aster DM Healthcare: The company’s chief financial officer Sreenath Pocha Reddy has resigned from the post, effective Jan. 5, 2023.

Muthoot Capital Services: The company has issued Commercial Paper (CP) of Rs 30 crore.

VLS Finance: The Board has approved a buyback worth Rs 70 crore at Rs 200 per share via open market route. The maximum buyback price of Rs 200 per equity share is at a premium of about 26 per cent over the closing price on the BSE and National Stock Exchange of India, respectively, on January 4, 2023.

Pokarna: The US Department of Commerce has determined that Pokarna Engineered Stone Limited, a material wholly owned subsidiary of the company, did not make sales of subject merchandise at less than normal value during the period of review between December 13, 2019 and May 31, 2021. Accordingly, PESL’s anti-dumping duty for the said period has been determined to be nil. READ MORE

Force Motors: The company produced 2,326 units of vehicles in the month of December, 2022. Further, its domestic sales stood at 1,861 units and exports stood at 430 units.

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