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Stocks To Buy Today: Tech Mahindra, SBI, DCB Bank, More Could Give Gains

Markets are likely to be choppy on Monday, with SGX Nifty trends suggesting a soft opening for Indian benchmark indices. Investors are expected to be cautious ahead of RBI's monetary policy statement.

Stocks To Buy Today: Tech Mahindra, SBI, DCB Bank, More Could Give Gains
Stocks To Buy Today: Tech Mahindra, SBI, DCB Bank, More Could Give Gains
outlookindia.com
2021-12-06T08:51:27+05:30

The Indian stock market reversed down sharply on Friday and closed in red zone after showing massive upside bounce on Thursday. Nifty-50 Index nosedived 204 points and closed at 17,196 levels whereas BSE Sensex crashed 764 points and closed at 57,696 levels.

Markets are likely to be choppy on Monday, with SGX Nifty trends suggesting a soft opening for Indian benchmark indices. Investors are expected to be cautious ahead of the Reserve Bank of India's monetary policy statement this week.

Here are stocks that investors should watch out for today, according to media reports.

DCB Bank: The bank revised its Base Rate to 10.50 percent per annum from the earlier Base Rate of 10.64 percent per annum. The revised rates will be applicable with effect from December 6, 2021.

Tech Mahindra: The IT services major has acquired US remote customer experience solutions provider Activus Connect for $62 million. The acquisition is expected to bolster its capabilities in emerging workplace solutions and strengthen its end-to-end customer experience portfolio.

Godrej Properties: The company has entered into a JV with TDI Group to develop a luxury residential project in Delhi.

Jubilant Ingrevia: The company approved the buyback of 1,000, 7.90 percent secured rated listed redeemable non-convertible debentures of Rs 10,00,000 each aggregating to Rs 100 crore.

State Bank of India: SBI has invited bids from asset reconstruction companies, and other financial institutions to sell the non-performing account (NPA) of KSK Mahanadi Power Company, with a total outstanding against the company standing over Rs 4,100 crore.

Karda Constructions: Societe Generale acquired 36 lakh equity shares in the company at Rs 16.65 per share on the NSE, the bulk deals data showed.

ABB India: The company completed the sale of the Dodge Business to Dodge Industrial India, an affiliate of RBC Bearings Incorporated (Dodge India).

Future Retail: Banks have held talks with Future Retail Ltd as they fear the troubled retailer may not be able to pay its dues on time. Since the loan has been restructured once already, a default would mark it as a failed recast, forcing them to make provisions of 25 per cent once it turns bad. Future Retail must pay by 31 December its first loan installment after a 19-month moratorium that ended on 30 September.

Ugar Sugar Works: Labour Union at Ugar Khurd unit has withdrawn its strike.

Prataap Snacks: SBI Funds Management sold 9,948 equity shares in the company via open market transaction on December 1, reducing shareholding to 3.39 percent from 3.43 percent earlier.

Tata Group: The conglomerate is blueprinting a 100-day plan for Air India to improve the operational and service standards of the airline, under the watch of an expatriate chief executive, with the name of former Delta president Fred Reid emerging as the favourite among the shortlisted candidates for the CEO post.

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