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Stocks To Watch: Shares such as Ambuja Cements, Exide Industries and JSW Energy, among others will be in focus today.
Stocks To Watch: Check Latest Market Trend On December 18
Stocks To Watch: Equity benchmark indices Sensex and Nifty tumbled over 1% on Tuesday, dragged down by a broad-based selloff as investors remained cautious ahead of the US Federal Reserve’s interest rate decision. Sentiment was further dampened by sustained foreign capital outflows and weak trends in global markets.
Due to recent corporate developments and market updates, stocks such as Ambuja Cements, Exide Industries and JSW Energy, among others.
Additionally, shares of supermarket chain Vishal Mega Mart, financial services platform Mobikwik, and biotech firm Sai Life Sciences will officially list on stock exchanges today.
Stocks to Watch Today
Ambuja Cements
Adani Group-owned Ambuja Cements has announced the merger of its subsidiaries, Sanghi Industries and Penna Cement Industries, with itself. The company stated that it has entered into a scheme of arrangement with these companies, paving the way for their amalgamation into Ambuja Cements.
Exide Industries
Exide Industries has invested approximately Rs 100 crore in its wholly owned subsidiary, Exide Energy Solutions (EESL), through a rights issue. With this latest investment, Exide’s total contribution to EESL, including earlier investments in its erstwhile merged subsidiary, now stands at Rs 3,152.24 crore.
JSW Energy
JSW Energy is discussing with South Korea’s LG Energy Solution (LGES) to establish a joint venture focused on battery manufacturing for electric vehicles and renewable energy storage. The collaboration involves an investment exceeding $1.5 billion to build a 10 GWh battery plant in India. JSW will utilize 70% of the capacity for energy storage and EV batteries, while LGES will use the remaining 30%.
Jindal Saw
Jindal Saw has signed a share purchase agreement with ReNew Green Energy Solutions to acquire up to 31.20% stake in ReNew Green MHH One, making it an associate company. The acquisition will enable Jindal Saw to access electricity at concessional rates for its operations.
Reliance Power
Reliance NU Suntech, a subsidiary of Reliance Power, has secured a major contract from the Solar Energy Corporation of India (SECI) for a 930 MW solar project with an integrated 465 MW/1860 MWh battery energy storage system.
Stock Listings Today
Several IPOs are set to debut on the bourses today, including:
- Vishal Mega Mart IPO
- Mobikwik IPO
- Sai Life Sciences IPO
- Purple United IPO (SME)
- Supreme Facility IPO (SME)
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Readers are advised to check with certified experts before making any investment decisions.
