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Stocks To Watch: Shares of firms like Vodafone Idea, ITC, Ola Electric, Canara Bank, and others will be in focus
Stocks To Watch
Stocks To Watch On December 06: The markets had a volatile session, ending almost flat after three consecutive days of gains. In today’s trade, stocks of Vodafone Idea, ITC, Canara Bank, Hyundai Motor India, Ola Electric, and others will be in focus due to various news developments.
Rate-sensitive Stocks:
Investors will focus on banking, auto, and realty stocks as the RBI announces its policy decision at 10 AM today.
Vodafone Idea (Vi): On December 9, Vi’s board will consider a proposal to raise Rs 2,000 crore from promoter Vodafone Group entities through a preferential issue.
Hyundai Motor India: The company has announced a price hike of up to Rs 25,000 across its models, effective January 1, citing rising input costs, unfavorable exchange rates, and higher logistics expenses.
Canara Bank: The RBI has approved Canara Bank’s stake sale in its mutual fund and insurance subsidiaries via an initial public offering (IPO). In March 2024, the bank’s board had approved the sale of stakes in these two subsidiaries.
ITC: The conglomerate, spanning cigarettes to hotels, is expanding its network of Farmer Producer Organisations (FPOs), with plans to connect one crore farmers in the next 4-5 years and scale up sourcing of fruits and vegetables through this platform, according to S Ganesh Kumar, CEO of ITC’s Agri Business Division.
FSN E-Commerce Ventures (Nykaa): Nykaa Fashion CEO Nihir Parikh has resigned and has been relieved of his duties with immediate effect.
Ola Electric: The Central Consumer Protection Authority (CCPA) has requested additional documents from Ola Electric regarding a show cause notice issued in October related to 10,644 complaints.
PSB Stocks: Public sector banks (PSBs) have fallen short of their annual targets for two key social security insurance schemes, Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). By October 2024-25, PSBs had met only 40% of the 64 million target for PMSBY and 30% of the 41 million target for PMJJBY.
Procter & Gamble Hygiene & Healthcare: The company’s parent, P&G, has revamped its supply chain for the stainless steel strips used in its Gillette razors, now sourcing them from India. This move is expected to shield its margins from potential tariffs that may be imposed by US President-Elect Donald Trump.
Garden Reach Shipbuilders & Engineers: The company has signed a contract for the construction and delivery of the second ship from a series of four additional 7,500 DWT multi-purpose vessels in Germany. In September, it secured an order for four more multi-purpose vessels.
RITES: RITES has been appointed as the project management consultant (PMC) for the execution, supervision, and development of the phase II campus of the Indian Institute of Management Raipur (Chhattisgarh) project, valued at Rs 148.25 crore.
Waaree Energies: The solar PV module manufacturer has received NABL accreditation for its PV module testing lab at its manufacturing facility in Chikhli, Gujarat.
Afcons Infrastructure: The recently listed company has completed the longest tunneling drive on the Tughlakabad-Aerocity corridor for the Delhi Metro Phase IV project, in partnership with the Delhi Metro Rail Corporation (DMRC).
