Stocks to watch for Tuesday, December 26: At 7:54 am, GIFT Nifty was trading 35.45 points, or 0.17 percent, higher at 21,420.5, indicating a positive start for domestic stocks in the first trading session of the last week of the year 2023.
The Indian stock market remained closed on Monday, December 25, due to Christmas. On Friday (December 22), benchmark indices Sensex and Nifty 50 extended gains for a second day following buying in IT stocks and firm trends in US markets.
The 30-share BSE Sensex rose 241.86 points or 0.34 percent to settle at 71,106.96. The Nifty 50 rose 94.35 points or 0.44 percent to 21,349.40.
Here are some values that will be in the spotlight on Tuesday, December 26:
Trusted Industries:
Reuters reported that Reliance Industries and Walt Disney had signed a non-binding agreement to merge their Indian media businesses, citing unnamed sources.
Tata Steel:
The steelmaker announced that it would hold a general meeting on January 25, 2024 to consider a merger with Indian Steel and Wire products.
State Bank of India (SBI):
The public sector lender has completed the issuance of $250 million of senior unsecured floating rate greenbacks.
Vedanta:
Bharat Aluminum Company Limited, the subsidiary of the company, has received a Goods and Services Tax (GST) demand notice worth Rs 84,70,09,977 for the financial year 2017-18 due to various issues of interpretation. According to the filing, Vedanta and Bharat Aluminum Company are not expected to have a significant financial impact.
Infosys:
The IT company has terminated its AI deal with Global Company worth $150 million (Rs 12,450 crore). The memorandum of understanding (MOU) was signed in September.
Jindal steel and power:
The company has entered into a Memorandum of Understanding (MoU) with Rashtriya Ispat Nigam Limited (RINL) for operationalization of Blast Furnace-3 (BF-3) of RINL. The furnace, which is expected to be fired on December 30, 2023, will increase the production of 2 lakh tonnes of hot metal per month.
Cipla:
The company received an order from the GST Authority imposing a penalty of over Rs 11 crore.
Aurobindo Pharma:
The United States Food and Drug Administration (US FDA) conducted a pre-approval inspection (PAI) at the new injectable plant of Eugia US Manufacturing LLC (a wholly owned subsidiary of Aurobindo Pharma Ltd.), located in the United States from December 11 to December 22, 2023. The inspection closed with 10 observations. As per the record, the company will file necessary appeal with the appellate authority in this regard.
Siemens:
Promoter Siemens Energy Holding BV sold 1.78 crore shares, which corresponds to 5 per cent shares, to subsidiary Siemens Energy Holdco BV.
Bajaj Holdings and Investment:
The company bought a 0.0066 percent stake in Nestle India for Rs 16.01 crore.
Religare companies:
Religare Finvest Limited (RFL), a subsidiary of Religare Enterprises Limited, has ordered a probe into the siphoning of funds from RFL by the company’s former promoters.
Divi Laboratories:
The company received a notice from the Central Deputy Commissioner of Taxes, Gachibowli CGST division, Hyderabad, of Rs 19.34 lakh on December 23. The order relates to alleged irregular deferral of CGST-GST input tax credit to ISD in Form GST TRAN- I filed.
Grindwell Norton:
The board of directors of the abrasives and silicon manufacturer has approved the investment in VEH Wind Energy for the supply of green energy. The company also received approval to invest in Advanced Synthetic Minerals.
Biocon:
Biocon Biologics, a subsidiary of Biocon, has partnered with Sandoz for the distribution of Adalimumab BS subcutaneous injection and has obtained exclusive rights to promote, sell and distribute Adalimumab BS in Japan.
Zydus Life Sciences:
The US Foods and Drugs Administration (USFDA) inspected the API facility located in Ahmedabad. The inspection concluded with six observations.
BEL:
Bharat Electronics Limited (BEL) has received orders worth Rs 2,673 crore for supplying 14 types of sensors for use on next-generation offshore patrol vessels, the Navratna Defense PSU said on Friday. CLSA increased its target on the defense sector from Rs 154 to Rs 207.
UPL:
The company’s board has approved fundraising to the tune of Rs 4,200 crore through a rights issue.
RBL Bank:
The lender, through an exchange filing, informed that as per the RBI’s letter, Yogesh Dayal’s tenure ended on December 23, 2023. Dayal, Chief Managing Director of the Reserve Bank of India, has been appointed additional director on the board of directors of the bank. for two years from December 24, 2021.
Wipro:
Sanjay Jalona, former MD and CEO of LTI, has denied reports that he has joined the IT major.
Payment :
The payments company has laid off up to 1,000 employees from its operations and marketing division as part of its artificial intelligence (AI) transformation.
Polycab:
The Income Tax Department, Mumbai, conducted search and seizure operations at some premises and facilities of the company.
Radico Khaitan, Sula Vineyards, etc. :
After the Gujarat government allowed alcohol consumption in hotels, restaurants and clubs in GIFT City, liquor stocks will be in action today.
EMS:
The engineering sector company bagged an order worth around Rs 358.56 crore.
PNC Infra:
The small-cap construction and engineering company has bagged an order valued at Rs 1,602 crore from the NHAI.
Anupam Rasayan:
The company has received a letter of intent (LOI) worth Rs 507 crore from a multinational company based in Japan.
J Kumar Infraprojects:
CLSA maintained its ‘Buy’ call on the counter and significantly raised its price target from Rs 385 to Rs 720 per share.
(With contribution from agencies)
Discover the latest sotck exchange updates here. For all other news related to business, politics, technology, sports and automobiles, visit Zeebiz.com.
