Stocks in Focus on December 29: Textile Stocks, M&M, Raymond, Shriram Capital, Indo Amines and many more
The equity benchmarks on Tuesday, December 29, 2021, rose around 0.9%.
![Stocks in Focus on December 29: Textile Stocks, M&M, Raymond, Shriram Capital, Indo Amines and many more Stocks in Focus on December 29: Textile Stocks, M&M, Raymond, Shriram Capital, Indo Amines and many more](https://cdn.zeebiz.com/sites/default/files/styles/zeebiz_850x478/public/2021/12/29/170961-stocks-down-pti.jpg?itok=7tJ5-5ya&c=7d9e752cd9290fe2861f7038dc597384)
The equity benchmarks on Tuesday, December 29, 2021, rose around 0.9%. Both indices gained amid positive cues from the global equity markets. The Sensex closed near 57,900 while the Nifty settled above 17,200. The BSE Sensex climbed 477 points, or 0.83%, to settle at 57,897. The NSE Nifty also surged 147 points, or 0.86%, to end at 17,233. But certain stocks came in the news after the market was closed. These stocks can impact the indices when it reopens on Wednesday, December 29, 2021. List of such five stocks:
Textile Stocks: These stocks will be in focus today as the government has approved the Production Linked Incentive (PLI) Scheme for Textiles, with an approved outlay of Rs 10,683 over a five-year period. Ministry of Textiles will accept online applications under the PLI Scheme for Textiles from January 1, 2022, through the PLI portal. The application window will remain open from January 1-31, 2022. Companies looking to avail benefits announced under the productivity linked incentive (PLI) scheme for the textile sector will have to set up a separate company and invest between Rs 100-300 crore for manufacturing approved products in the government’s incentive list. The selection committee will take the final call. The decision has been taken to promote the production of Man-Made Fibre Apparel, Man-Made Fabrics, and Products of Technical Textiles in the country. In this regard, the Operational Guidelines for PLI Scheme have been finalized.
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M&M: Mahindra Engineering and Chemical Products Limited (“MECPL”), a wholly-owned subsidiary of the Company, on Tuesday agreed to sell its entire stake aggregating 49% of the paid-up Equity Share Capital held in Mahindra Tsubaki Conveyor Systems Private Limited (“MTC”) for Rs 58.89 crore.
Raymond: The company on Tuesday said that it will invest Rs 150 crore in more than one tranche over a period of time in a new company 'Ten X Realty Limited' ('TXRL'). TXRL has been incorporated as a step subsidiary of Raymond Limited ('the Company') with an object to carry on real estate business for development / joint development of land and properties other than existing properties of the Company situated at Thane, Maharashtra. Out of the said investment, the Company will invest up to Rs 75 Crore in the form of Redeemable Preference Shares which would be subject to such terms as may be finally decided and agreed.
Shriram Capital: Global investment firm KKR, reportedly, is in advanced talks to purchase around 10% stakes in Shriram Capital for Rs 1,800-2,000 crore, the holding company of the Chennai-based Shriram Group.
G R Infraprojects: The company has emerged as an L-1 bidder in the Financial Bid Opening dated December 28, 2021, for the tender invited by Noida Metro Rail Corporation Limited. The bid project cost stands at Rs 592.99 crore and the project will be completed within 24 months.
Mazagon Dock: The Board of Directors of Mazagon Dock Shipbuilders Limited on Tuesday approved the declaration of Interim Dividend @ 71.00% being Rs 7.10 per equity share aggregating to Rs 143.20 crore to be paid out of the profits of the Company for FY 2021-22. The Board has declared Friday, 07 January 2021 as the record date for reckoning eligibility of shareholders for the purpose of payment of Interim Dividend.
Indo Amines: The company has fixed January 15, 2021, as the record date for Stock Split (Sub-Division). Upon sub-division, each share having a nominal value of Rs 10 will be sub-divided into two equity shares having a nominal value of Rs 5 fully paid-up equity shares.
Natco Pharma/Strides /Dr Reddy's: It has received approval for COVID-19 drug Molnupiravir Capsules 200 mg. for the Indian market, which will be sold under brand name MOLNUNAT. Strides have received DCGI approval under EUA to commercialize Molnupiravir, an oral medication for Covid-19. Dr Reddy's Laboratories has also received DCGI approval to launch Molnupiravir capsules 200mg (Molflu) in India. Molnupiravir is the first Covid drug authorized by Drugs Controller General {India) (DCGI) for the treatment of COVID-19 infection with Sp02>93% and who have a high risk of progression of the disease including hospitalization or death.
Amara Raja Batteries: As a part of its strategic initiatives to venture into New-Energy Business and EV Batteries, the company has agreed to invest by way equity and convertible instruments in InoBat Auto AS, Oslo Norway, a Slovakian company. The company also has the right to participate and subscribe up to Euro 10 million in InoBat Auto’s further fundraising and subsequent listing at the stock exchange. InoBat Auto AS is currently developing a battery research and development centre and production line in Voderady, Slovakia and the next phase of the project will focus on a manufacturing scale-up through a number of gigafactories planned across Europe and globally.
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