Stocks to Watch: Archean Chemicals, Five Star Business, Zomato, ONGC, Tata Steel

Here is the list of the top 10 stocks taking center stage today:

Archean Chemicals: The listing date of the shares for the initial public offering (IPO) of Archean Chemical Industries Ltd has been set for Monday. According to the information available on the BSE website, with effect from Monday 21 November 2022, the shares of Archean Chemical Industries Limited will be listed and admitted to trading on the Stock Exchange in the list of the ‘B’ securities group.

Five-star business financing: Five Star Business Finance will make its debut in Dalal Street on Monday. The IPO did not get a full subscription as it was able to secure a 70% subscription. The QIB portion, which was subscribed at 1.77 times, helped push the public offer through, while the allotted quota of HNIs and retail investors remained undersubscribed (61% and 11% respectively).

Tata Steel/JSW Steel/SAIL/Hindalco: The government has reduced export duties on steel products and iron ore effective November 19, 2022, six months after the imposition of the levy on May 21. specified pig iron and steel products and iron ore pellets will levy ‘zero’ export duties. The government’s decision to remove export tariffs on steel items will boost demand for steel, industry members said.

Zomato: Food delivery platform Zomato said Friday that co-founder Mohit Gupta has stepped down in the third major exit of a senior executive in a leadership role this month. In addition, Zomato is laying off staff across the company, including technology, product and marketing teams, said a person with development knowledge, who asked to remain anonymous. The exact number of employees asked to leave could not be immediately determined.

ONGC: India’s largest oil and gas producer ONGC has said the company’s oil production will increase by 18% by FY2024-25. Backed by billions of dollars in investment, the oil company hopes production will peak from the current fiscal year. In the previous fiscal year (2021-22), ONGC produced 21.707 million tons of crude oil, which is refined to produce petroleum products such as gasoline and diesel.

3i Infotech: 3i Infotech, the IT company, has been awarded a contract by Hindustan Petroleum Corporation. The contract includes management and support of IT infrastructure at HPCL offices and refineries, including data centers across India. The total contract value is approx 51 crore over three years.

Engineers in IndiaState-owned Engineers India Ltd (EIL) said on Saturday that the company has been contracted to provide overall project management and EPCM services for the Group-II LOBS project at CPCL’s Manali Refinery. “Engineers India Limited (EIL) has been entrusted by Chennai Petroleum Corporation Limited to provide overall project management and EPCM services for OHCU Revamp, CDWU and associated off-site facilities for the Group-II LOBS project at Manali Refinery” the company said in a statement.

Easy trip planners: The Board of Directors of Easy Trip Planners has set November 22, 2022 as the record date for an ex-date stock split. This means that the share will trade ex-dividend on November 21, 2022, i.e. on Monday. The company’s board has already announced and approved 1:2 share splits.

Maruti Suzuki: Maruti Suzuki India expects its sales network to reach the 3,700 mark by the end of this fiscal year. This is amid push to boost production capacity at the Manesar plant by 1 lakh units to meet increased demand, a senior company official said. The country’s largest automaker passed the 3,500 car sales mark on Friday, more than double from its 1,300 dealerships a decade ago.

Hindu copper: Hindustan Copper Ltd (HCL) boosted copper ore production from Malanjkhand project in Madhya Pradesh to 2.2 million tons from current 1.6 million tons and it will eventually be increased to five million tons in next 6- 7 years, a company official said. HCL planned to increase its total copper ore production to 12.2 million tons per year in FY’29 in its first phase of expansion from 3.57 million tons in FY22 and targeting 3.9 million tons in the current fiscal year.

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