Top stocks to watch — IDBI Bank, PNB, Axis Bank, M&M, Embassy REIT, PVR, and others

• At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50.
• Here’s a list of stocks to watch for in trade today.
• Check out the latest news and updates on Business Insider.

Indian stock-market indices are likely to start on a stronger note on Wednesday, led by positive cues from the global markets.

At 7:40 am, the SGX Nifty was up 0.12%, indicating a positive start for Nifty50. The US stocks extended earlier gains on Tuesday after Senate Majority Leader Mitch McConnell pledged to get a fiscal stimulus deal done before Congress takes a break for the holidays. The Dow Jones Industrial Average closed 337 points higher, and the S&P 500 was up 1.29%.

These are the stocks to watch out for during the trading session today:

IDBI Bank

IDBI Bank has set the floor price at ₹40.63 per share for its proposed qualified institutional placement (QIP) and downsized the fundraise by two-thirds to ₹2,000 crore.

The bank’s board at its meeting on October 29 had proposed to raise ₹6,000 crore by issuing shares through QIP.

Punjab National Bank

Punjab National Bank (PNB) has set the floor price for its proposed QIP of ₹7,000 crore at ₹37.35 per share. PNB committee would meet on Friday to consider and determine the issue price for the equity shares, including a discount, if any, to be allotted to Qualified Institutional Buyers, pursuant to the QIP (qualified institutional placement).

Indian Bank

The state-owned Indian Bank declared the account of IL&FS Financial Services (IFIN) as fraud with outstanding dues of ₹408 crore, and reported it to the Reserve Bank of India (RBI).

Axis Bank

Axis Bank has clarified that it has complied with its underwriting practices and approval processes for any exposure taken in relation to SREI Equipment Finance and SREI Infra Finance. SREI Group’s outstanding dues to the bank stand at ₹800 crore.

Embassy Office Parks REIT

Embassy Office Parks REIT plans to raise $500 million (around ₹3,700 crore) through the sale of units to institutional investors through QIP to fund its acquisition of commercial asset Embassy TechVillage in Bengaluru.

Mahindra & Mahindra (M&M)

Mahindra & Mahindra (M&M) said it would increase the price of its passenger and commercial vehicles, across models from January 1.

PVR

PVR to consider fundraising via various methods at its board meeting on December 18.

Mrs Bectors Food Specialities

Mrs Bectors Food Specialities IPO sees an overall subscription of 3.72 times on the first day of bidding.

JSPL

Jindal Steel and Power Ltd (JSPL) has appointed Hemant Kumar as the Chief Financial Officer (CFO) and key managerial personnel from Tuesday.

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