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Top stocks to watch — Dr Reddy’s, Indiabulls Housing, M&M, Tata Motors, Bajaj Auto, Maruti, Hero Moto, PNB, and others

Dec 1, 2020, 08:06 IST
BCCL
Indian stock-market indices are likely to have a slow start on Tuesday, led by mixed cues from the global markets.
At 7:40 am, the SGX Nifty was up 0.50%, indicating a positive start for Nifty50. However, on Monday, the US stocks ended low as investors booked profits following a sharp rally in recent weeks that led to the benchmark’s best November ever. The Dow Jones Industrial Average closed 271 points lower, and the S&P 500 was down 0.46%.

These are the stocks to watch out for during the trading session today:

Dr Reddy’s Laboratories

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Dr Reddy’s Laboratories inked a pact with Glenmark Pharmaceuticals to acquire its select anti-allergy brands in Russia, Ukraine, Kazakhstan and Uzbekistan. The acquired brands represent two types of products — mometasone mono-product and combination of mometasone with azelastine, which is indicated for the treatment of seasonal and perennial allergic rhinitis, it added. The company, however, did not disclose financial details.

Indiabulls Housing Finance

Indiabulls Housing Finance further sold a portion of its stake in OakNorth Holdings to raise approximately ₹93 crore.
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Hindustan Construction Company

Hindustan Construction Company (HCC), in a joint venture with Vensar Constructions Company (VCCL), has received two separate contracts worth ₹236 crore from the Northeast Frontier Railway for the construction of single line BG tunnels Lot 14A and Lot 15A on a 51.38-km long Bairabi-Sairang New BG Rail line in Manipur.

M&M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks

M&M, Tata Motors, Bajaj Auto, Maruti Suzuki, TVS Motor, Hero MotoCorp and other auto stocks will be in focus during the trade today. The companies are slated to report their November sales data today, and according to Nirmal Bang estimates, a strong show is expected led by strong festive demand.
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TVS Motor

TVS Motor is set to acquire 100% stake in advanced fleet management solutions provider Intellicar Telematics for a cash consideration of ₹15 crore.

SRF

SRF’s resin plant, set-up in Thailand by its wholly-owned subsidiary has been commissioned and capitalised at the cost of $19 million.
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Premier Explosives

Premier Explosives has bagged a contract worth ₹14 crore from Ministry of Defence for the supply of 26 mm Chaffs.

Punjab National Bank

Punjab National Bank’s base rate cut by 15 basis points to 8.65% from 8.8%, effective from December 1.
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Future Consumer

Bennett, Coleman & Company Limited (BCCL) reduced its stake in Future Consumer to 4.25% from 6.33% via open market transaction.

Fortis Healthcare

Aberdeen Standard Investments Ltd increased its stake in Fortis Healthcare to 5.02% from 4.96% via open market purchases.
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SEE ALSO: November auto sales estimates — Here’s what to expect from Maruti, M&M, Hero, Bajaj Auto, and other automakers

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