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Stocks in focus: Wipro, Vedanta, RIL, UTI AMC, Mazagon Dock, Indiabulls Housing Finance, RITES


The qualitative analysis, done by ICICI Direct filters stocks based on their delivery Z-score, frequency distribution of the stock returns, and historical volatility pattern.

Nifty futures were trading36.50 points up at 11,997.50 on Singaporean Exchange, suggesting the eighth day of gains on Monday. A host of factors such as corporate earning, new listing, rising COVID-19 cases, oil prices, rupee movement and other global cues, will set the stock market direction today. In the previous week, headline indices added 4.4 per cent and climbed up to their pre-coronavirus level. “Markets are expected to continue their rally in the short-term in anticipation of further measures from the Indian government to provide a bonanza of the stimulus. Upcoming hearing of moratorium is also expected to drive the domestic market this week,” said Vinod Nair, Head of Research at Geojit Financial Services.

Wipro: IT bellwether is scheduled to announce its July-September quarter earnings later in the day today. Research and brokerage firm Centrum Broking expects Wipro to deliver 1.5 per cent QoQ constant currency revenue growth.

Vedanta: In a regulatory filing, Vedanta said its buyback offer is deemed to have failed as per the terms of the delisting regulations after promoter Vedanta Resources did not receive the required number of shares to delist the firm. It added saying that all equity shares tendered in the delisting offer shall be returned.

Mazagon Dock Shipbuilders, UTI AMC: mini-ratna public sector undertaking Mazagon Dock Shipbuilders and UTI Asset Management Company (AMC) shares will debut on stock exchanges. Grey market trends signal a strong debut for Mazagon Dock shares while a subdued listing for UTI AMC shares today.

RIL: Reliance Industries Ltd on Saturday announced to receive the subscription amount of Rs 1,875 crore from SLP Rainbow Holdings Pte. Ltd. and SLP Rainbow Co-Invest (DE), L.P. (Silver Lake Co-investors) for Reliance Retail Ventures Ltd (RRVL) and allotted in the aggregate 2.7 crore equity shares to Silver Lake Co-investors.

Indiabulls Housing Finance: The company has further sold a portion of its stake in OakNorth Holding Ltd to Riva Capital Partners V, L.P., USA, for approximately Rs 441 crores. With the latest stake sale, the company has raised a total of Rs 2,273 crores as fresh equity in the month of September and October 2020 (Rs 683 crores through QIP and Rs 1590 crores through the sale of a stake in OakNorth) adding to the regulatory equity capital of the company.

RITES: RITES secured major orders worth Rs 103 crore which will be used for Project Management Consultancy (PMC) work for complete planning, design, execution/construction of Buildings and other services for various buildings at IIT Delhi, among other works. RITES fees will be around Rs 54 crore.

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