Stocks in News, November 16: HDFC, Motherson Sumi, ONGC, Bharat Electronics, Bikaji Foods, Medanta

Stocks in News Today, November 16: Indian stock markets are likely to open in red on Wednesday i.e. November 16 as SGX Nifty - which is traded on the Singapore stock exchange - traded 47.5 points, or 0.26 per cent, lower at 18,447 in the early trade. Most Asian markets traded in red in early trade. While Hong Kong's Hang Seng fell over 162.99 points, or 0.87 per cent, Japan's Nikkei 225 slumped 164 points, or 0.59 per cent, in early trade.

However, Sensex climbed 248 points to close at its all-time high of 61,872 on Tuesday, propped up by robust fag-end buying in banking and energy stocks amid a positive trend in global equities. NSE Nifty had advanced 74.25 points or 0.41 per cent to finish at 18,403.40. 

Meanwhile, Wall Street's main indexes gained on Tuesday amid softer-than-expected inflation data. The Dow Jones Industrial Average rose 56.22 points, or 0.17 per cent, to 33,592.92, the S&P 500 gained 34.48 points, or 0.87 per cent, to 3,991.73 and the Nasdaq Composite added 162.19 points, or 1.45 per cent, to 11,358.41.

Stocks in News, November 16

HDFC:  Mortgage lender HDFC will raise up to Rs 5,500 crore by issuing bonds on private placement basis to shore up its resources. The secured redeemable non-convertible debentures (NCDs) issue will have a base size of Rs 4,000 crore with an option to retain an oversubscription of up to Rs 1,500 crore. "The object of the issue is to augment the long-term resources of the Corporation," HDFC Ltd said in a regulatory filing on Tuesday.

Bikaji Foods: The shares of Bikaji Foods International IPO are expected to be listed today. The IPO of the FMCG company was subscribed 26.67 times on the last day of subscription. As per data available with the NSE, the Rs 881.22-crore IPO received bids for 55,04,00,900 shares against 2,06,36,790 shares on offer. 

Medanta: The shares of Global Health, which operates hospitals under the name of Medanta, are scheduled to be listed on both the leading exchanges BSE and NSE. The IPO got a good response from investors and according to the NSE data, it received bids for 44.79 crore shares against 4.67 crore shares on offer.

Motherson Sumi: Motherson Sumi Wiring India has announced a bonus in a 2:5 ratio and has set the record date as November 17. It means that the company will give 2 additional shares for every 5 shares held. 

Bharat Electronics: Navratna defence PSU Bharat Electronics Ltd (BEL) has signed an MoU with Yantra India Limited (YIL) for co-operation in the areas of ammunition hardware and military grade components to jointly address the requirements of Indian defence and export markets. The pact aims at leveraging the complementary strengths and capabilities of BEL and YIL, a state-owned defence company, and sharing of manufacturing and test infrastructure/resources for the production of arms and ammunition and related systems, the Bengaluru-headquartered BEL said in a statement on Tuesday.

ONGC: India's top oil and gas producer ONGC reported a 30 per cent fall in September quarter net profit after the government brought a new tax on windfall profits arising from a spurt in international energy prices. Net profit of Rs 12,825.99 crore, or Rs 10.20 a share, in July-September 2022-23 is compared with Rs 18,347.73 crore, or Rs 14.58 per share net profit in the same period a year ago, Oil and Natural Gas Corporation (ONGC) said in a statement.

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