Stocks in focus: Bharti Airtel, Apollo Hospital, Wipro, M&M, Reliance Capital, Phoenix Mills

Nifty futures were trading 29.50 points up at 13,183.50 on Singaporean Exchange, suggesting a gap-up start for BSE Sensex and Nifty 50 on Thursday. In the previous session, Sensex ended flat while Nifty 50 posted a record closing at 13,114 levels. Analysts expect December to witness significant consolidation with any meaningful dip being a good buying opportunity. Asian peers were also seen trading little unchanged in the early deals. While in overnight trade on Wall Street, the S&P 500 climbed to a record high close on Wednesday and the Nasdaq Composite Index dipped.

Stocks in focus today:

Bharti Airtel, Bharti Infratel: Nettle Infrastructure Investments Limited, a wholly-owned subsidiary of the Bharti Airtel, has acquired an additional equity stake of 4.94 per cent in Bharti lnfratel Limited on December 02, 2020.

Apollo Hospital Enterprises: The company informed that its board approved raising of funds of Rs 1,500 crore in one or more tranches, by way of a further issue of securities on a preferential allotment basis and/or through Qualified Institutional Placement (QIP).

Wipro: Wipro announced that it has won a multi-year contract from Verifone, a global leader in payments and commerce solutions, to drive agility across its cloud services offerings. Wipro will develop new features, capabilities and interfaces for Verifone’s Cloud Services offerings, enabling seamless and flexible transaction processing for the company.

Mahindra & Mahindra: CARE Ratings reaffirmed long term credit rating at AAA with stable outlook for company’s bank facilities. “The ratings assigned to the bank facilities of Mahindra & Mahindra Limited (M&M) continue to reflect its dominant market position in the Indian Tractor industry and Light Commercial Vehicles (LCV) segment along with its diversified product profile,” it said.

Reliance Capital: As many as eight suitors, including the US-based Oaktree and J C Flower, have expressed their interest to acquire Reliance Capital Ltd (RCL), a part of debt-ridden Anil Ambani-promoted Reliance Group, PTI quoted sources as saying.

Phoenix Mills: Phoenix Mills has inked a non-binding term sheet with an affiliate of Singapore’s sovereign wealth fund, GIC for creating a strategic retail-led mixed-use property development platform, a move that will help India’s largest mall developer and operator improve cash flows and chart better expansion and acquisition plans.