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Stocks to watch: Shares of firms like ITC, Adani Ent, Lupin, SpiceJet, RVNL, Power Grid, and others will be in focus on Tuesday’s trade
Stocks To Watch
Stocks to Watch on December 31: Indian benchmark indices faced resistance around the 23,900 mark after reaching these levels early in Monday’s trade, eventually closing in the red, with banks and auto stocks dragging the indices lower. The broader Nifty ended at 23,644.90, down by 168.50 points or 0.71%, while the 30-stock S&P BSE Sensex closed at 78,248.13, losing 450.94 points or 0.57%.
Listings Today: Shares of Unimech Aerospace and Manufacturing will be listed on the NSE and BSE.
Adani Enterprises: The company has agreed to sell its entire 44% stake in the FMCG joint venture Adani Wilmar (AWL). The stake sale, which will occur in two phases, is expected to generate approximately $2.2 billion (Rs 18,817 crore) upon completion.
Reliance Industries (RIL): RIL is seeking a premium of at least $3.5 per barrel over the international benchmark for crude oil produced from its eastern offshore KG-D6 block, according to a tender released on Monday.
Lupin: The pharmaceutical company has acquired Huminsulin in India from Eli Lilly and Company, strengthening its diabetes portfolio.
Adani Green Energy: The CEO of Adani Green Energy, Amit Singh, will step down and take charge as CEO of the Adani Group’s International Energy Business from April 1, 2025. Ashish Khanna, currently CEO of the international business, will succeed Singh as the CEO of Adani Green Energy.
ITC: The National Company Law Tribunal (NCLT) in Kolkata has approved the demerger of ITC’s hotel business, effective December 16. ITC Hotels will be listed within 60 days of receiving the NCLT order. The record date for determining ITC shareholders eligible for shares of ITC Hotels under the demerger is set for January 6, 2025.
IT Stocks: India’s IT services sector is expected to see steady revenue growth of 7-9% in FY26, driven by increased spending in the banking, financial services, and insurance (BFSI) sectors, as well as generative AI in the US and parts of Europe.
SpiceJet: The airline will begin discussions with US-based aircraft manufacturer Boeing to resume deliveries of B737 Max planes from its 2017 order. SpiceJet had signed a deal with Boeing for 205 planes, including 100 B737 Max aircraft, in January 2017.
Hindalco: Aditya Birla Group’s metals arm expects to start production at the Meenakshi coal mine in Odisha by 2028. The mine, which has a peak capacity of 12 million tonnes per annum, holds 285.23 million tonnes of geological reserves.
Bata India: The board of directors at Bata India approved a Voluntary Retirement Scheme (VRS) for eligible workers at its Bata Shatak Unit in Hosur, Tamil Nadu.
RVNL: Rail Vikas Nigam (RVNL) emerged as the lowest bidder for the design, supply, erection, testing, and commissioning of traction substations and associated infrastructure for the Bhusaval-Khandwa sections of Central Railway.
Dhanlaxmi Bank: The Reserve Bank of India (RBI) has approved P. Suriaraj as the Executive Director of the bank for a 3-year term.
Jubilant Ingrevia: The board of Jubilant Ingrevia approved its subsidiary Jubilant Infrastructure to purchase a 6.67% equity stake in Forum I Aviation Private Limited (FAPL) from Hero Fincorp Limited and Mr. Sunil Kant Munjal.
Power Grid Corporation: The company transferred its 26% residual equity stake in four associate companies to the Powergrid Infrastructure Investment Trust (Powergrid INVIT).
GMR Airport: The company has issued a letter of comfort to ICICI Bank for a Rs 100 crore working capital facility to be used by its subsidiary, GMR Nagpur International Airport.
Prataap Snacks: A fire incident occurred at one of the company’s manufacturing units in Jammu and Kashmir. No casualties were reported. The company has adequate insurance coverage and is coordinating with the insurance company to assess the loss or damage caused.
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