SBI Cards, Macrotech Developers, JSPL to be watched

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Trends on the Singapore stock exchange indicates that the Nifty could rise 49 points at the opening bell. Overseas, Asian stocks are trading mixed on Tuesday as the Reserve Bank of Australia released minutes from its recent monetary policy meeting. Australia’s central bank is expected to keep the interest rate steady until 2024, according to minutes from its November monetary policy meeting released Tuesday. Given the latest data and forecasts, the central scenario for the economy continued to be consistent with the cash rate remaining at its current level until 2024, the minutes said. Here is the list of stocks that can be in the spotlight for today’s session.

SBI Cards and Payment Services: The company has approved the allotment of 5,000 Fixed Rate, Unsecured, Rated, Taxable, Redeemable, Senior, Listed Non-Convertible Debentures (NCDs) of the face value of Rs. 10,00,000 each, at par, aggregating to Rs. 500 crores on private placement basis.

Macrotech Developers: The real estate developer has launched its qualified institutional placement on Monday. The floor price is set at Rs 1,184.70 per share.

JSPL: Jindal Steel & Power said its steel production rose by 7% (Y-o-Y) to 6.24 lakh tonnes in October 2021 compared to 5.85 lakh tonnes during the same period in the previous year. However, JSPL’s steel sales fell 1% (Y-o-Y) to 5.93 lakh tonnes in October 2021 over October 2020.

The Phoenix Mills: PML and Canada Pension Plan Investment Board (CPP Investments) announced a new joint venture to develop an office-led mixed-use asset in Lower Parel, Mumbai.

Escorts: The company said that its division Escorts Agri Machinery (EAM) shall be increasing the prices of its tractors effective 21st November 2021. The increase in prices would vary across models and variants. There has been a steady rise in commodity prices necessitating a price hike to offset the impact of the continuing inflation.

IIFL Wealth Management: The wealth management company said that the meeting of the Resource Raising Committee of the company is scheduled to be held on 18 November 2021, to inter-alia consider the offer and issue of secured redeemable nonconvertible debentures upto Rs. 250 crores by the company on a private placement basis.