Trending Stocks: Paytm, Sapphire Foods, Zomato, Tata and others in news today

The Indian stock market is expected to open on a cautious note as trends on SGX Nifty indicate a positive opening for the index in India with a 9-points loss.

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The BSE Sensex fell 314.04 points to close at 60,008.33 in the previous session while the Nifty50 was down 100.50 points at 17,898.70 and formed a bearish candle on the daily charts as the closing was lower than opening levels.

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According to pivot charts, the key support levels for the Nifty are placed at 17,844.37, followed by 17,790.03. If the index moves up, the key resistance levels to watch out for are 17,987.87 and 18,077.03.

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Top stocks in focus today:

Paytm operator One 97 Communications

The company will make a debut on the bourses on November 18. The issue price has been fixed at Rs 2,150 per share.

Sapphire Foods

The company will list its shares on the bourses on November 18. The issue price has been fixed at Rs 1,180 per share.

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Camlin Fine Sciences

The company, through its newly incorporated wholly-owned subsidiary in Mexico namely CFS de Mexico Blends, S.A.P.I. DE C.V. has acquired 33.50 percent stake in Dresen Quimica S.A.P.I. DE C.V. from the joint venture partner (Controladora De Servicios Riso S.A.P.I. de C.V.) for $8.50 million. The company (along with CFS Blends) now holds 98.50 percent stake in Dresen.

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Arvind Fashions

The company’s officials will meet SBI Life Insurance, and Nippon India MF on November 18.

Tata Power

The company’s officials will meet eight investors including ITI Mutual Fund, Ambit Investment Advisors, and Ambika Fincap in Centrum Conference on November 18.

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Zomato

Zomato UK, a step-down subsidiary of the company, has been dissolved effective from November 16, 2021.

BHEL 

A Cooperation Agreement was signed between Bharat Heavy Electricals and Zorya Mashproekt, Ukraine, with the aim to cooperate for establishing the local manufacture of the Marine GTs and RGs for the requirement of the Indian Navy.

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Kalpataru Power Transmission

ICICI Prudential Asset Management Company acquired 0.19% stake in the company via open market transactions on November 16, increasing shareholding to 5.18% from 4.99% earlier.

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Jindal Drilling & Industries

The company has acquired an offshore jack-up rig ‘Jindal Supreme’ from Venus Drilling Pte. Ltd. for $16.75 million. The rig is currently operating under contract with the Oil and Natural Gas Corporation (ONGC).

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The Phoenix Mills

CPP Investments has completed its first tranche of investment in Plutocrat Commercial Real Estate Private Limited (PCREPL), a wholly-owned subsidiary of the company, on a private placement basis and by way of secondary acquisition of equity shares held by the company in PCREPL aggregating to Rs 787 crore.

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