Benchmark indices ended on a flat note on the first day of the December series amid volatility. At close, the Sensex was up 20.96 points or 0.03% at 62,293.64, and the Nifty was up 28.70 points or 0.16% at 18,512.80.
IDFC | CMP: Rs 80.20 | The scrip added over 2 percent on November 25. According to an exchange filing, the scheme of amalgamation of IDFC Alternatives Limited, IDFC Trustee Company Limited, and IDFC Projects Limited (wholly-owned subsidiary companies of IDFC) into IDFC Limited and their respective shareholders was approved by the NCLT, Chennai Bench on November 22, 2022.
Punjab National Bank | CMP: Rs 53.45 | The stock price jumped over 5 percent after the lender announced t has received the Government of India's approval for a stake sale in UTI Asset Management Company. "The Exchange is hereby informed that the bank has received approval of DIPAM, Ministry of Finance for divestment of entire/part stake in UTI AMC in single or multiple tranches subject to compliance of SEBI regulations," PNB said in a stock exchange.
Axis Bank | CMP: Rs 887 | The scrip ended in the green on November 25. Analysts appeared impressed by the lender's long-term vision at the annual analyst day meeting on November 24. "A convincing analyst meets that Axis Bank could compete on its strengths," said brokerage firm Kotak Institutional Equities in a note. ICICI Securities said that the management of the lender demonstrated its ability to translate 'intent' to 'action' towards delivering guided outcomes and initiatives undertaken over the last few years to strengthen its capacity to deliver more efficient and sustainable outcomes.
Adani Enterprises | CMP: Rs 3,900.05 | The share price ended marginally lower on November 25. The company said that the board will meet to consider and approve the proposal for raising funds. In a statement to the stock exchanges, Adani Group's flagship firm had said that raising funds would be by the way of a public offering or preferential allotment issue, including a QIP. Billionaire Gautam Adani is also courting sovereign wealth funds in a push to raise roughly $5 billion across his sprawling business empire after lenders asked the group to reduce leverage, as per sources.
India Tourism Development Corp | CMP: Rs 404.55 | The stock hit the 20 percent upper circuit after the government announced it has fixed an indicative value for 'The Ashok' hotel at Rs 7,409 crore under the national monetization program. Presently, ITDC has a network of three Ashok Group Hotels, one Joint Venture Hotel, 1 Restaurant, 5 ATT Units, 15 Duty-Free Shops at Sea ports, and one Sound & Light Show.
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