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Stocks in Focus: Reliance Industries, SBI, Biocon and Others

Buzzing Stocks
Several stocks drew attention on 7 April as order wins, business updates, and guidance drove gains.

The GIFT Nifty futures were trading in the green before the market’s opening on Thursday. Indices are expected to open on a similar positive note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, closed marginally higher on Wednesday ahead of the key US Fed outcome. Nifty gained 0.10% or 19.95 points to close at 20,926.35, while Sensex climbed by 33.57 points or 0.05% to end marginally higher at 69,584.6.

Here are some stocks to look out for on December 14.

Biocon: The biotech company’s unit, Bicara Therapeutics Inc., has successfully completed a $165 million Series C funding round. Post-funding, Bicara will cease to be an associate company of Biocon Ltd as the latter’s shareholding in Bicara will fall below 20%.

Indian Railway Catering and Tourism Corporation (IRCTC): IRCTC is eyeing a major expansion in the non-railway catering business pan India. The railways company has already signed Memorandums of Understanding (MoUs) with various government and autonomous bodies.

State Bank of India: The public sector lender is set to sign a 70 million Euro line of credit with KfW (German Development Bank) to support solar photovoltaic (PV) projects in India.

National Buildings Construction Corporation (NBCC) (India): The civil construction company has secured a Rs 1,500 crore order from the National Cooperative Development Corporation (NCDC) for the construction of 1,469 warehouses and other agri-infrastructure at various locations across India. 

RBL Bank: The lender has successfully acquired an 8.51% stake in the Open Network for Digital Commerce (ONDC) for a total cash consideration of Rs 40 crore.

Reliance Industries: The rating agency Moody’s Investors Service has reaffirmed the Mukesh Ambani-led Reliance Industries’ domestic long-term issuer rating and foreign currency senior unsecured rating at ‘Baa2’, with a stable outlook.

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