Stocks To Watch: SBI, Canara Bank, Mamaearth, Ashok Leyland, Bank Of India, Power Grid Corp, Sanghi Industries

State Bank of India, Canara Bank, and Honasa Consumer Ltd. will be among the major companies in focus during Wednesday's trading session.

State Bank of India has proposed to acquire 20% stake from SBI Capital Markets in SBI Pension Funds for Rs 229.52 crore.

Canara Bank is looking to raise up to Rs 3,500 crore via tier-I bonds. The bidding starts on Dec. 7.

Fireside Ventures Investment Fund, a major investor of Mamaearth's parent Honasa Consumer, has sold 1.89% stake via a bulk deal for Rs 230 crore.

India's benchmark indices closed at an all-time high on Tuesday for the second consecutive session, as it rose for the sixth straight session, led by gains in banking and Adani Group stocks.

The NSE Nifty 50 closed 168 points, or 0.81%, higher at 20,855.10, while the S&P BSE Sensex ended 431 points, or 0.63%, up at 69,296.14. Both the indices also hit new intraday highs.

Overseas investors stayed net buyers in Indian equities for the eighth consecutive session on Tuesday. Foreign portfolio investors mopped up stocks worth Rs 5,223.5 crore, while domestic institutional investors turned net sellers and offloaded stocks worth Rs 1,399.2 crore, the NSE data showed.

Asian markets were trading on a mixed note Wednesday as traders assessed latest jobs data from the U.S., and as treasury yields declined.

Markets in Japan and Australia were trading higher. Data from Australian Bureau Of Statistics showed the country's GDP grew 2.1% in Jul-Sep from beating analysts' expectation of 1.7% growth.

Meanwhile, share indices in China fell after Moody's cut Chinese government's credit outlook from stable to negative, which dented risk appetite among investors.

Brent crude was trading 1.06% lower at $77.20 a barrel at 6:32 a.m. Gold was up by 0.14% at $2,039.10 an ounce.

The Indian rupee ended 1 paise lower against the U.S. dollar at Rs 83.38 on Tuesday.

• State Bank of India: The lender has proposed to acquire 20% stake from SBI Capital Markets (SBICAPS) in SBI Pension Funds for Rs 229.52 crore. Post acquisition, it will have 80% stake in SBI Pension Fund.

• Ashok Leyland: The automaker increased its stake in Switch Mobility's holding company to 92.19% from 91.63%. It had deployed around Rs 662.5 crore as the first tranche of a planned Rs 1,200 crore investment.

• Canara Bank: The bank looks to raise up to Rs 3,500 crore via tier-I bonds. The bidding starts on Dec. 7.

• Bank of India: The lender opened its QIP issue at a floor price of Rs 105.42 per equity share.

• Somany Ceramics: Sets Dec. 15 as record date for Rs 125 crore buyback. Company to buy back 15.18% stake at Rs 850 per share.

• Power Grid Corporation: The company emerged as a successful bidder to establish the Inter-State Transmission System Project in Khavda RE Park, Gujarat.

• HDFC Bank: The lender has sought shareholders' approval to appoint Sashidhar Jagdishan as MD and CEO, V Srinivasa Rangan as Executive Director and MD Ranganath and Sandeep Parekh as Independent Directors.

• UCO Bank: The Central Bureau of Investigation has carried out searches in 13 locations in connection with the company’s IMPS glitch case.

• Dalmia Bharat: The company approved the appointment of Puneet Dalmia as MD and CEO for five years w.e.f Dec. 8.

• Ion Exchange: The International Chamber of Commerce has rejected Ethingen Arbitration claim of Rs 149.56 crores for damages against the company.

• Axiscades Technologies: The company has acquired a 99.99% stake in EPCOGEN for Rs 26.25 crores.

• Sanghi Industries: The company and Incor Realty Projects have mutually agreed to an upward revision of the sale consideration of Rs 125 crore on account of certain improvements in the land condition and certain other factors.

• Ganesh Benzoplast: Board has approved allotment of 17 lakh shares at Rs 160 apiece on preferential basis to ace investor Malabar India Fund Ltd. and 1.80 lakh shares of face value Rs 1 per share at a price of Rs 175 to Susram Financial Services and Realty Private Ltd.

• Greenpanel Industries: The company's operations at the MDF plant situated in Andhra Pradesh have been disrupted since Monday due to Cyclone Michaung which intensified into a very severe cyclonic storm.

• Force Motors: The company's November production stood at 2,216 units. It recorded a monthly sales of 1,732 units.

• Sapphire Foods India: Arinjaya (Mauritius) sold 27 lakh shares (4.24%) while Government of Singapore bought 20.19 lakh shares (3.17%) at Rs 1,400 apiece.

• Sanghi Industries: Ambuja Cements bought 13.34 crore shares (51.67%) at Rs 121.9 apiece while Aditya Sanghi sold 88.92 lakh shares (3.44%), Alok Sanghi sold 88.92 lakh shares (3.44%), Anita Sanghi sold 10.20 lakh shares (0.39%), Flarezeal solutions LLP sold 40 lakh shares (1.54%), Ravi Sanghi sold 4.4 crore shares (17.20%), Samruddhi Investors Services sold 6.15 crore shares (23.82%), and Sanghi Polymers P sold 47 lakh shares (1.81%) at Rs 121.9 apiece.

• Swan Energy: 2I Capital PCC sold 30 lakh shares (1.13%) at Rs 414 apiece and Ares Diversified sold 55 lakh shares (2.08%) at Rs 414.09 apiece. SBI Life Insurance bought 20 lakh shares (0.75%) at Rs 414 apiece, Societe Generale bought 20 lakh shares (0.68%) at Rs 414 apiece, and Setu Securities bought 10 lakh shares (0.37%) at Rs 414.5 apiece, among others.

• Honasa Consumer: Fireside Ventures sold 60.9 lakh shares (1.89%) at Rs 378 apiece.

• Tide Water Oil: Promoter Standard Grease and Specialities bought 7.63 lakh shares on Dec. 4.

• Uttam Sugar Mills: Promoter group Shubham Sugars bought 32,000 shares on Dec. 5.

• Bajaj Electricals:  Promoter group Niraj Holdings bought 4.7 lakh shares on Nov. 23. Rajivnayan Bajaj A/c Rishab Family Trust sold 4.7 lakh shares on Nov. 23.

• Star Cement: Promoter group Rajendra Udyog HUF sold 15,750 shares on Nov. 30.

• Thirumalai Chemical: Promoter group Narayan Santhanam sold 8,000 shares on Dec. 4.

• Safari Industries: To meet investors and analysts on Dec. 8.

• Punjab National Bank: To meet investors and analysts on Dec. 7.

• Polycab: To meet investors and analysts on Dec. 8.

• Mrs. Bectors Food Specialities: To meet investors and analysts on Dec. 8, 13.

• Subros: To meet investors and analysts on Dec. 11.

• Alkem Laboratories: To meet investors and analysts on Dec. 8.

• Allcargo Gati: To meet investors and analysts on Dec. 6,7.

• Crompton Greaves Consumer Electricals: To meet investors and analysts on Dec. 11.

• Sapphire Foods India: To meet investors and analysts on Dec. 8.

• Can Fin Homes: To meet investors and analysts on Dec. 11.

• Fineotex Chemical: To meet investors and analysts on Dec. 8.

• Thomas Cook: To meet investors and analysts on Dec. 7.

• Move out of short-term ASM framework: Honasa Consumer.

• Nifty December futures rose 0.69% to 20,942 at a premium of points 87.5 points.

• Nifty December futures open interest rose by 3.22% to 6,782 shares.

• Nifty Bank December futures rose by 1.06% to 47,152.40 at a premium of 140.15 points.

• Nifty Bank December futures open interest fell by 1.92% to 2,844 shares.

• Nifty Options Dec. 7 Expiry: Maximum call open interest at 21,000 and maximum put open interest at 20,700.

• Bank Nifty Options Dec. 6 Expiry: Maximum Call Open Interest at 48000 and Maximum put open interest at 45,000.

• Securities in the ban period: Delta Corp, Indiabulls Housing Finance, India Cement, Zee Entertainment enterprises.

• Here Are The Top Stock Picks For December 2023 By Axis Securities

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• Coal India - Operating Performance Continues To Improve: ICICI Securities

• India State Elections - Stable Polity, Policy Continuity Could Yield Growth Dividends: Nirmal Bang

• Oil And Gas Sector Outlook - Jumbo Dividends, Rights Issue And Multiple Tailwinds: Dolat Capital

• Hindustan Oil Exploration - Undergoing A Strategic Shift: Motilal Oswal

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