Benchmark indices ended higher on November 29 with Nifty around 18600. At close, the Sensex was up 177.04 points or 0.28% at 62,681.84, and the Nifty was up 55.20 points or 0.30% at 18,618.
The scrip jumped over 4 percent after CLSA upgraded the outlook on the stock of the payment services company from 'sell' to 'buy'. The recent price correction makes risk-reward "favourable", CLSA said, adding that the company has more than $1 billion cash on the balance sheet. "While our interactions with several investors over the past four months suggest some discomfort or uncertainty on scaling up the lending business, we think that the stock warrants a look now," it said.
Bandhan Bank | CMP: Rs 234.10 | The share price jumped over 4 percent after global brokerage firm CLSA upgraded the stock to buy from outperform with the target at Rs 300 per share. It believes that the bank is likely to benefit from the cyclical recovery in MFI collections/growth.
SBI | CMP: Rs 608.10 | The scrip ended marginally in the red on November 29. State Bank of India (SBI) approved raising Rs 10,000 crore through infrastructure bonds during the financial year 2023, the lender said in an exchange filing. "Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores (including a green shoe option of Rs. 5,000 crores) through a public issue or private placement, during FY23," the release said. On November 24, the SBI's Executive committee of the Central Board consider raising funds through the issuance of infrastructure bonds worth up to Rs 10,000 crore during FY23.
Lyka Labs | CMP: Rs 144 | The stock price ended in the green on November 29. The SEBI Appellate Tribunal (SAT) has lifted the ban imposed on pharmaceutical company Lyka Labs from accessing the capital markets, the pharma company told stock exchanges on November 29. Britannia IndustriesLyka Labs was debarred from buying, selling, or dealing in securities in June 2020 by the Securities and Exchange Board of India (SEBI) in a matter pertaining to the alleged manipulation in the issuance of global depository receipts (GDR).
Britannia Industries | CMP: Rs 4,275 | The scrip ended in the green on November 29. The FMCG major has entered into a Joint Venture Agreement with Bel SA, France, and Britannia Dairy Private Limited on 29th November 2022 to undertake the development, manufacturing, marketing, distribution, trading, and selling, etc., of cheese products in India and certain other countries. As a part of the JVA, Britannia shall sell and transfer 49% of its equity stake in its wholly-owned subsidiary, BDPL, to Bel.
Bandhan Bank | CMP: Rs 234.10 | The share price jumped over 4 percent after global brokerage firm CLSA upgraded the stock to buy from outperform with the target at Rs 300 per share. It believes that the bank is likely to benefit from the cyclical recovery in MFI collections/growth.
SBI | CMP: Rs 608.10 | The scrip ended marginally in the red on November 29. State Bank of India (SBI) approved raising Rs 10,000 crore through infrastructure bonds during the financial year 2023, the lender said in an exchange filing. "Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores (including a green shoe option of Rs. 5,000 crores) through a public issue or private placement, during FY23," the release said. On November 24, the SBI's Executive committee of the Central Board consider raising funds through the issuance of infrastructure bonds worth up to Rs 10,000 crore during FY23.
Lyka Labs | CMP: Rs 144 | The stock price ended in the green on November 29. The SEBI Appellate Tribunal (SAT) has lifted the ban imposed on pharmaceutical company Lyka Labs from accessing the capital markets, the pharma company told stock exchanges on November 29. Britannia IndustriesLyka Labs was debarred from buying, selling, or dealing in securities in June 2020 by the Securities and Exchange Board of India (SEBI) in a matter pertaining to the alleged manipulation in the issuance of global depository receipts (GDR).
Britannia Industries | CMP: Rs 4,275 | The scrip ended in the green on November 29. The FMCG major has entered into a Joint Venture Agreement with Bel SA, France, and Britannia Dairy Private Limited on 29th November 2022 to undertake the development, manufacturing, marketing, distribution, trading, and selling, etc., of cheese products in India and certain other countries. As a part of the JVA, Britannia shall sell and transfer 49% of its equity stake in its wholly-owned subsidiary, BDPL, to Bel.
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