Domestic share markets are likely to start Monday’s session on a negative note, putting to halt a record-breaking streak in which the Nifty 50 index crossed the 13,750 mark for the first time ever, riding on optimism around COVID-19 vaccines and on continued foreign fund inflows. The Singapore Exchange (SGX) Nifty futures — an early indicator of the National Stock Exchange’s Nifty 50 benchmark index — declined 59.15 points, or 0.43 per cent, to hit 13,703.00 at the weakest level recorded ahead of the opening of Indian markets. At 8:50 am, the SGX Nifty futures traded 29.35 points, or 0.21 per cent, lower at 13,732.80.
Here are few stocks to watch in Monday’s trade (December 21, 2020):
Punjab National Bank
Punjab National Bank raised a little over 54 per cent of the targeted fund mop-up through a qualified institutional placement (QIP) of shares, which closed on Friday with Rs 3,788.04 crore. The state-run lender had planned to raise up to Rs 7,000 crore through the QIP, which had opened on Tuesday.
Bank Of Baroda
Bank of Baroda said Ian De Souza joined as chief financial officer. Mr De Souza is a chartered accountant, and has 23 years of experience in the banking & financial services domain.
Pharmaceuticals company Lupin said it has received approval for its Colesevelam Hydrochloride Tablets (625 mg) from the US drug regulator, to market a generic equivalent of Daiichi Sankyo’s Welchol.
Reliance Industries and BP announced the start of production from the R Cluster project, one of the three deep-water gas projects in block KG-D6. The three projects are together expected to meet around 15 per cent of the country’s gas demand by 2023, Reliance Industries said.
RIL is the operator of KG-D6 with a 66.67 per cent participating interest and BP holds a 33.33 per cent participating interest.