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Stocks to watch: Shares of firms like Vodafone Idea, Tata Motors, LIC, Tata Power, BEL, JSW Steel, and others will be in focus on Tuesday’s trade
Stocks To Watch
Stocks To Watch On December 10: Indian benchmark indices ended in the red on Monday, marking a second consecutive decline, primarily due to losses in FMCG and auto stocks. The Nifty50 closed at 24,619, down by 58.80 points or 0.24%, while the 30-stock S&P BSE Sensex settled at 81,508.46, down by 200.66 points or 0.25%.
As markets reopen today, several stocks will be in focus, including Vodafone Idea, Tata Motors, NHPC, Brookfield India REIT, Premier Polyfilm, Torrent Power, and Datamatics Global Services, due to recent developments or quarterly earnings.
Vodafone Idea (Vi): The board has approved a proposal to raise Rs 1,980 crore from entities under promoter Vodafone Group PLC through a preferential issue. Vi will issue 1.75 billion equity shares to Vodafone Group entities Omega Telecom Holdings and Usha Martin Telematics for Rs 1,280 crore and Rs 700 crore, respectively, at Rs 11.28 per share.
Metropolis Healthcare: The company’s board has approved the acquisition of Core Diagnostics, a specialized cancer diagnostics player, for Rs 246.8 crore.
C.E. Info Systems (MapmyIndia): The company has scrapped plans to invest in a new firm being set up by its outgoing CEO after receiving feedback from investors. The move led to a 16% increase in its share price.
Tata Motors: The company has increased vehicle prices across all segments by 3%.
Hyundai Motor: Hyundai is planning to install 600 fast-charging stations for electric vehicles (EVs) over the next seven years, focusing on key highways and major cities.
Steel Stocks: The Directorate General of Trade Remedies (DGTR) is reviewing a request from the steel ministry to impose safeguard duties on certain steel products due to a sharp rise in imports from China, South Korea, Vietnam, and Japan.
LIC: Prime Minister Narendra Modi launched the Bima Sakhi Yojana, a state-run Life Insurance Corporation (LIC) initiative aimed at enrolling 100,000 Bima Sakhi in 12 months to empower women financially.
Power Finance Corporation (PFC): PFC raised Rs 6,252 crore through bond issuances, including Rs 3,200 crore in 15-year bonds at a 7.11% coupon and Rs 3,052 crore in 10-year bonds at a 7.10% coupon.
Tata Power: On December 6, Tata Power outlined its five-year strategy, aiming to become an end-to-end power solutions company, spanning generation, distribution, trading, and solar utility at scale, including rooftop EPC.
Adani Ports: The government has granted permission to Adani Krishnapatnam Port in Andhra Pradesh to import petroleum into India until March 1, 2026. The port is allowed to import petroleum by sea from August 28, 2024.
Adani Group: The group plans to invest over Rs 7.5 trillion ($88.53 billion) in sectors like renewable energy and cement in Rajasthan, according to Karan Adani, managing director of Adani Ports. Nomura has labeled the Adani Group as the most attractive among investment-grade corporates in India.
Bharat Electronics (BEL): BEL has secured an order worth Rs 634 crore for the maintenance of various defense systems. With this order, BEL’s total order backlog for FY24 has reached Rs 8,828 crore.
NHPC: The company’s board will consider a revised borrowing plan for FY25, including the issuance of bonds up to Rs 2,600 crore in multiple tranches via private placement in a meeting on December 12.
Torrent Power: The company successfully completed its Rs 3,500 crore Qualified Institutions Placement (QIP), which was oversubscribed by 4 times, with bids totaling around Rs 14,000 crore. Prominent long-only investors such as SBI MF, Capital Group, and Amundi participated in the placement.
JSW Steel: The company reported a 5% year-on-year increase in consolidated crude steel production for November, reaching 23.23 lakh tonnes. Indian operations saw a 7% YoY growth, with 94% capacity utilization.
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