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

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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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