Vedant Fashions, Burger King, Future Retail, Vedanta, Hindustan Zinc, HDFC, SpiceJet stocks in focus

BSE Sensex and Nifty 50 were staring at a flat start on Wednesday, as suggested by trends on SGX Nifty in early trade. Nifty futures were ruling at 17371, up 23 points or 0.13 per cent. In the previous session, Sensex ended 1,736.21 points or 3.08% higher at 58,142.05, and the Nifty 50 settled 509.70 points or 3.03% up at 17,352.50. Markets have been witnessing a roller-coaster ride and analysts expect the same to continue in near future. “In absence of any major domestic event, updates related to Russia-Ukraine tension and its impact on global markets will be on the radar. We suggest limiting leveraged positions and waiting for the markets to stabilise,” Ajit Mishra, VP – Research, Religare Broking, said.

Stocks to watch

Vedant Fashions: Vedant Fashions will its stock market debut on Wednesday, 16 February 2022, after the company raised Rs 3,149.19 crore through IPO by selling its shares in the range of Rs 824-866 apiece.

Future Retail: The Supreme Court on Tuesday allowed Future Retail (FRL) to approach the Delhi High Court for seeking approval to resume proceedings for its Rs 24,731-crore merger deal with Reliance Retail before the National Company Law Tribunal beyond the stage of meeting of shareholders and creditors.

Repco Home Finance: Repco Home Finance has posted a 60% drop in its net profit at Rs 31.47 crore for the third quarter of FY22 as compared to Rs 79.60 crore in the corresponding quarter of last fiscal. Total income stood at Rs 325.45 crore as compared to Rs 359.75 crore, registering a decline of 9.5%

Vedanta, HIndustan Zinc: The Union government and Vedanta have decided to end an ongoing arbitration concerning the second call option given to the latter to buy the Centre’s residual 29.5% stake in Hindustan Zinc (HZL), paving the way for the government to disinvest the stake, worth over Rs 39,000 crore, in the open market.

NBCC: State-owned NBCC Ltd has reported a 10 per cent decline in consolidated net profit at Rs 87.03 crore for the quarter ended December. Its profit stood at Rs 96.98 crore in the year-ago period.

SpiceJet: SpiceJet on Tuesday reported a consolidated profit of Rs 42.45 crore for the three months ended December 2021 as higher passenger traffic and improved performance of the logistics segment propelled the airline into the black.

Housing Development Finance Corporation: CLSA has upgraded its rating on HDFC to ‘buy’ from ‘outperform’.

Burger King India: Burger King closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 per cent to the floor price of Rs 136.05 per share.