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Stocks To Watch On May 25: Strong Market Opening Expected, THESE Stocks Stay In Focus
(MENAFN- AsiaNet News)
The main Indian indices, Sensex and Nifty 50, are likely to open on a high note this Monday. They are expected to follow positive global cues, as investor confidence has been boosted by signs of a peace agreement between the US and Iran.
The trends on Gift Nifty are also indicating a 'gap-up' or a higher start for the main Indian index. Gift Nifty is currently trading around the 23,961 level, which is a premium of about 217 points compared to the previous closing price of Nifty futures.
Last Friday, the Indian stock market closed on a positive note, with the key index Nifty 50 settling above the 23,700 mark. The Sensex climbed 231.99 points (0.31%) to close at 75,415.35, while the Nifty 50 rose by 64.60 points (0.27%) to 23,719.30.
Top pharma company Lupin has received approval from China's regulatory body for its 'Oseltamivir Phosphate Oral Suspension'. This drug treats influenza in children and marks the company's official entry into the Chinese market. Wipro, the IT services giant, has set June 5 as the record date for its massive ₹15,000 crore share buyback program.
The first day of Central Bank of India's Offer for Sale (OFS) witnessed huge demand. Non-retail investors applied for 76.9 crore shares, which is a subscription rate of 236%. The bank will exercise its oversubscription option for up to 36.2 crore shares (a 4% stake), increasing the total sale size to 72.4 crore shares.
Emirates NBD has announced an open offer to acquire up to a 26% stake in RBL Bank. The offer price is set at ₹282.38 per share, with a total potential value of up to ₹11,735 crore. In other news, a subsidiary of Gujarat Themis Biosyn, 'Themis Biosyn Japan', will acquire a 100% equity stake in 'MicroBiopharm Japan' for approximately ₹1,300 crore.
The Indian Railway Finance Corporation (IRFC) has signed a loan agreement for a $1.1 billion External Commercial Borrowing (ECB). The deal is with a major banking consortium that includes top banks like SBI, HDFC Bank, Sumitomo Mitsui Banking, and DBS Bank.
Tega Industries has signed a ₹1,500 crore term loan facility with Standard Chartered, Axis Bank, and EXIM Bank. The company will use these funds to finance its proposed acquisition of 'Molycop'. This loan is secured against specific assets and collateral of the company or group.
As part of JAL's insolvency resolution, Jaiprakash Associates has signed a share sale agreement with Adani Power. The deal involves transferring a 24% stake in 'JP Power' for about ₹2,993.59 crore. Separately, credit rating agency CRISIL has reaffirmed its 'CRISIL A1+' short-term rating for PTC India's ₹5,500 crore bank loan facilities.
Minda Corp has signed an agreement with 'Vehicle Access Systems Technology'. This deal gives them operational control over their joint venture, 'Minda Vast Access Systems', effective from April 1. Disclaimer: Investing in the stock market involves risks. Asianet News Bangla does not encourage investment. This report is for informational purposes only. Always consult experts before investing in the market.
The Indian share market is expected to open on a positive note this Monday, with Gift Nifty trading at a 217-point premium over Nifty futures, indicating strong investor sentiment and a bullish start ahead.
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