HUL, LIC, Nerolac, Power Grid, TVS Motor: Stocks to watch out for on Wednesday
Stocks to watch on Wednesday: Power Grid commissioned the 500 MW Tuticorin wind energy zone project.
Stocks to watch out for on Wednesday: At 8:07, GIFT Nifty traded 44.85 points, or 0.21 per cent higher, at 21,544, indicating a positive start for domestic equities today.
The Indian stock market finished higher on Tuesday, December 26, 2023, amid buying in all sectors, except IT and the PSU Bank index. The surge in some Asian stocks supported a rally on Dalal Street after cooler-than-expected U.S. inflation data boosted hopes of interest rate cuts by the Federal Reserve next year.
The S&P BSE Sensex ended 229.84 points, or 0.32 per cent, higher at 71,336.8, and the NSE Nifty was up by 91.95 points, or 0.43 per cent, at 21,441.35. Meanwhile, the Nifty Mid Cap 100 and Small Cap 100 closed higher. High-beta Nifty Bank settled 0.49 per cent higher at 47,724.85.
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Here are some stocks that will be in focus on Wednesday, December 27:
Power Grid:
The company's board will consider the issue of Unsecured, Non-Convertible, Non-Cumulative, Redeemable, and Taxable Bonds in a meeting on December 29, 2023. The company acquired Koppal II Gadag II Transmission Limited (KIIGIITL), the Project SPV. The power company has also commissioned the 500 MW Tuticorin wind energy zone project.
Kansai Nerolac Paints:
The paint company's board has accepted the proposal for selling Lower Parel land along with the building for Rs 726 crore. The land will be sold to Aethon Developers Private Limited.
SEAMEC:
The shipping company signed a Memorandum of Understanding (MoU) with HAL Offshore for the Charter Hire of Offshore Support Vessel 'Sea Pearl'. The Charter rate is $8,750/per day for three years, aggregating to $9.59 million.
LIC:
The insurance behemoth will set up a Branch Office of the Corporation at the International Financial Services Centre, GIFT City, Gujarat.
TVS Motor:
The company received Rs 310 crore from its subsidiary Sundaram Auto Components Limited (SACL) towards the extinguishment of 3,26,31,578 equity shares held by TVS Motor.
Hindustan Unilever (HUL):
The company got an intimation of a GST demand order amounting to over Rs 87 lakh from the Deputy Commissioner (ST), Madhapur STU-2, Hyderabad, Telangana.
Zydus Lifesciences:
The company's arm, Zydus Healthcare Ltd, has been served with an income tax notice demand of Rs 284.58 crore for the assessment year 2023-2024.
ACC/ Ambuja/ Nuvoco Vistas:
As per Zee Business exclusive report, green cement manufacturers may get big incentives. Further, to boost the category, the policy concerning the same is being worked upon.
Vishnu Prakash Pugalia R Punglia:
The company has secured an order worth Rs 899 crore to supply water from the Urban development department of Uttarakhand.
SJVN:
The company's subsidiary SJVN Green Energy project has bagged a project valued at Rs 550 crore from Gujarat Urja Vikas Nigam for 100 MW Solar Power Project.
Adani Energy Solutions:
The company has signed Share Purchase Agreement (SPA) with PFC Consulting Limited on the previous day for acquisition of 100% equity of Halvad Transmission Limited (“HTL”). HTL project consists of evacuation of 7 GW of renewable energy (RE) from Khavda RE Park, under the Phase III Part A package. AESL won the project through the Tariff-Based Competitive Bidding (TBCB) process.
Maithan Alloys:
The company has agreed to acquire 10 lakh shares in NSE at a price consideration of Rs 324 crore. The share purchase will be completed by March 31, 2024.
Indiabulls Housing:
Public shareholder Mathew Cyriac bought 24.99 lakh or 0.52 per cent shares in the housing financier for Rs 213.57 per share. The stock will be out of the F&O segment from the next series.
Suraj Estate Developers:
After the listing day's fall, global fund houses bought stake in the entity. BNP Paribas Arbitrage bought 2.3 lakh shares at Rs 340.38 per share, while Bofa Securities Europe SA bought 3.29 lakh shares at Rs 343.51 per share.
India Glycols:
The company's Kashipur plant has begun the production of 100 KLPD grain-based ethanol.
South Indian Bank:
The company's board will meet to deliberate on fund raising.
(With inputs from agencies.)
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