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MARKETS

Stocks in Focus: Ultratech Cement, Thomas Cook, IDBI Bank and Others

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

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex soared amid heavy buying in financial and information technology (IT) stocks. Nifty closed 1.04% or 206.9 points higher at 20,096.6, while the Sensex soared 727.71 points or 1.1% to settle at 66,901.91. 

Here are the stocks that will likely be in the market’s focus on November 30.

Metro Brands, Nykaa: New York-based speciality athletic retailer Foot Locker has entered into a long-term licensing agreement with Metro Brands and FSN E-Commerce Ventures, the parent company of  Nykaa Fashion, for marketing the former’s comprehensive selection of global sportswear and footwear in India. 

IDBI Bank: The Department of Investment and Public Asset Management issued a fresh RFP to appoint asset valuers for strategic sale-bound IDBI Bank. The last date for submitting bids by asset valuer is January 5. 

Thomas Cook India: The company’s promoter, Fairbridge Capital (Mauritius), will sell up to 8.5% stake or 32 million equity shares in the company through an offer for sale (OFS) at Rs 125 per share. The OFS includes a base offer of 6.8% and a green shoe option of 1.7%.

UltraTech Cement: The Company has acquired a 0.54 mtpa (million tonnes per annum) cement grinding assets of Burnpur Cement, located at Patratu in Jharkhand, at a consideration of Rs 169.79 crore. This investment marks the company’s entry into the state.

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