Stocks in focus: Zomato, Tata Technologies, PCBL, Karur Vysya Bank and more

The domestic equity market closed higher in the previous session. Sensex rose 727 points to 66,902 and Nifty gained 207 points to 20,096 on Wednesday. Market cap of BSE-listed firms rose to Rs 333.26 lakh crore.

Here’s a look at stocks that are likely to remain in news today.

Sensex climbed 204 points to end the session at 66,174 and Nifty gained 95 points to settle at 19,889.

Here’s a look at stocks that are likely to remain in news today.

Zomato

Alipay Singapore Holding Pte Ltd sold its entire shareholding of 3.44 percent, or 29,60,73,993 equity shares, via open market transactions in Zomato at an average price of Rs 112.70 per share, amounting to Rs 3,336.75 crore. However, Morgan Stanley Asia (Singapore) Pte. Ltd. bought 4,39,73,993 equity shares, or 0.51 percent of Zomato, at the same average price.

Tata Technologies

The subsidiary of Tata Motors and the global engineering services company will list on the BSE and NSE on November 30. The IPO issue price was fixed at Rs 500 per share.

PCBL

The company’s board has given its nod for signing a joint venture with Australian company Kinaltek Pty. Ltd. to expand into the growing battery application market. The company will own a 51 percent shareholding in the joint venture company and will be infusing $16 million in the JV company, with a commitment to infuse funds up to $28 million in stages in the JV for setting up a manufacturing facility.

UltraTech Cement

The cement firm has bought the 0.54 mtpa cement grinding assets of Burnpur Cement at Patratu in Jharkhand for Rs169.79 crore. The investment marks the company’s entry into Jharkhand.

Thomas Cook (India)

Promoter Fairbridge Capital (Mauritius) will offload up to an 8.50 percent stake or 4 crore equity shares in Thomas Cook via offer-for-sale on November 30 and December 1. The OFS consists of a base offer size of 6.8 percent shares and a greenshoe option of 1.7 percent shares. The issue will be open for non-retail investors on November 30, and for retail investors on December 1. The floor price for the OFS is Rs 125 per share.

Metro Brands and FSN E-Commerce Ventures

Foot Locker, Inc., the New York-based specialty athletic retailer, has inked a long-term licencing agreement with Metro Brands and Nykaa Fashion. Metro Brands is granted exclusive rights to own and operate Foot Locker stores within India and to sell authorised merchandise in Foot Locker stores.

Karur Vysya Bank

The Reserve Bank of India has given nod to SBI Mutual Fund for buying an aggregate holding of up to 9.99 percent in the bank.

Man Infraconstruction

The company's board has cleared a fund raising of Rs 550 crore via the issuance of convertible equity warrants via preferential issue. The funds will be raised through the issue and allotment of up to 3,55,05,000 warrants, with each warrant convertible into one equity share of the face value of Rs 2 each on a preferential basis at an issue price of Rs 155 per warrant.

JSW Infrastructure

The company’s subsidiary Masad Infra Services has inked a concession agreement with Karnataka Maritime Board for the development of an all-weather, deep-water, greenfield port at Keni in Karnataka. The greenfield port will be developed on a public-private partnership (DBFOT) basis.

Also read: GIFT Nifty up 21 points: Asian markets, crude oil prices, dollar movement, three listings & more

Also read: Stock recommendations for November 30, 2023: Gujarat Gas, Chambal Fertilisers and Quess Corp