Stocks in Focus: GIFT Nifty traded up 43.5 points or 0.21% at 21,134.5, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 gained 27.70 points or 0.13% to settle at 20,997.10, while the BSE Sensex added 102.93 points or 0.15% to 69,928.53.
“The Nifty traded mostly sideways as traders stayed on the sidelines at the beginning of a data-packed week. There’s a strong resistance at 21,000, with call writers actively building positions. A decisive breakthrough above 21,000 is necessary to resume the uptrend. Until then, it’s anticipated that the market will consolidate within a broader range,” said Rupak De, Senior Technical analyst at LKP Securities.
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Stocks to Watch on December 12, 2023
Infosys
The country’s second-largest software services exporter, Infosys has appointed Jayesh Sanghrajka, a company veteran of nearly two decades, as its chief financial officer, with effect from April 1. Sanghrajka will succeed Nilanjan Roy, who has decided to step down to pursue his personal aspirations.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Maruti Suzuki India, GMR Airports Infra, Brightcom Group, Hindustan Zinc, Adani Enterprises, Kolte-Patil Developers Stocks To Watch: Hindalco, Godrej Consumer Product, Apollo Tyres, Radico Khaitan, NHPC, Maruti Suzuki, Eicher Motors, LIC Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
Adani Group: Adani Enterprises, Adani Green Energy, Adani Energy Solutions, Adani Power, Adani Total Gas, Adani Ports & Special Economic Zone
Adani Group on Monday said the EBITDA (earnings before interest, taxes, depreciation and amortisation) of its group companies rose 47% to cross Rs 43,688 crore ($5.3 billion) in the first half of the current fiscal (H1FY24). The growth, its highest ever for a half-year period, was driven mainly by the core infrastructure businesses, the group said in a statement. The half-year figure also surpassed the full-year EBITDA recorded in FY22. The core infrastructure businesses grew by 52% on a year-on-year basis to Rs 37,379 crore, contributing 86% of the total EBITDA, the statement said. The pre-tax EBITDA is of 11 listed companies.
Tata Motors
One of the largest commercial vehicle manufacturers has announced a revision in prices. The CV maker has announced a hike of 3 percent on its vehicles starting January 2024. The company says the price increase is to offset the residual impact of the past input costs, and will be applicable across the entire range of commercial vehicles.
Power Grid Corporation of India
In what could give a further fillip to private investments in electricity transmission projects, the government is set to divest state-run Power Grid Corporation of India, which owns and operates the bulk of inter-state and inter-regional transmissions, of its regulatory mandate.The Union power ministry has prepared a Cabinet note to “completely separate” PGCIL from the newly created Central Transmission Utility of India (CTUIL), which is now wholly owned subsidiary of the former, a source privy to the development told FE, on condition of anonymity.
Wipro
The leading technology services and consulting company, has supported Marelli Electronic Systems, a leading mobility technology supplier to the automotive sector, in the development of its Cabin Digital Twin, that enables Original Equipment Manufacturers (OEMs) to introduce connected vehicle services to the market quickly, the company said a press release.
Rail Vikas Nigam
The company has emerged as the Lowest Bidder (L1) for ‘Part Design and Construction of Elevated Viaduct, Five (5) Elevated Metro Rail Stations (viz. Shaheed Bagh, Khajrana Chauraha, Bengali Chauraha, Patrakar Colony & Palasia Chauraha) and Ramp between Chainages 31+755 to 34+898.061 & 3+669.547 to 5+862 for Indore Metro Rail Project.’ the company said in a regulatory filing.
SpiceJet
Crisis-hit SpiceJet’s board of directors will continue to discuss fundraising plans on Tuesday after it could only partially complete the agenda items on Monday, reported PTI. On Monday, the no-frills airline’s shares touched a 52-week high and ended with more than 10% gains on the BSE as investors were enthused by funding plans and the proposal to list the company’s securities on the National Stock Exchange (NSE).
Life Insurance Corporation of India
The state-owned life insurance company LIC of India, on Monday, announced that it has received a communication/ demand order for the collection of GST along with interest and penalty worth Rs 183 crore for Telangana. “This is to inform that the Corporation has received communication/ demand order for the collection of GST along with interest and penalty for Telangana state. The said order is appealable before Appellate Joint Commissioner (ST), Hyderabad Rural Division,” it said in a regulatory filing.
(With agency inputs.)
