GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by just 31.50 points or 0.15% at 21,533, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 91.95 points or 0.43% to settle at 21,441.35, while the BSE Sensex ended higher by 229.84 points or 0.32% to 71,336.80.
“Nifty mostly traded sideways after an initially positive start. The sentiment remains optimistic as the index stays above critical moving averages. At 21,500, there could be significant immediate resistance. A decisive breakout beyond this level could potentially propel the index into a substantial rally. Until then, the index is expected to remain within the range of 21,300 and 21,500,” said Rupak De, Senior Technical Analyst at LKP Securities.
Stocks To Watch: Nykaa, Ambuja Cement, Adani Power, Wipro, Bharti Airtel, Jain Irrigation Stocks To Watch: Zomato, Paytm, RVNL, Zen Technologies, Alkem Laboratories Stocks To Watch: Berger Paints, Vodafone Idea, ONGC, IRFC, Wipro Stocks To Watch: Realty Stocks, Lupin, Tata Power, PB Fintech, SBI, Suzlon Energy, Godrej Consumer, ABFRL
Stocks to Watch on December 27, 2023
Adani Green
Adani Green, a leading renewable energy company, has announced plans to raise funds through preferential warrants to its promoters. The promoters are set to invest INR 9,350 crore in Adani Green at a share price of INR 1,480.75 per share.
Manthan Alloys
Manthan Alloys has entered into a significant agreement for the purchase of 1 million shares of the National Stock Exchange of India. The proposed cost of acquisition for this transaction is Rs 3.24 billion.
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Vishnu Prakash R Punglia
Vishnu Prakash R Punglia’s company has received a letter of award for orders worth Rs 899 crore from the Uttarakhand government for various development projects.
Aditya Birla Capital
Aditya Birla Capital has made strategic investments, with Rs 850 crore in Aditya Birla Finance via share subscription and Rs 50 crore in Aditya Birla Capital Digital.
Piramal Enterprises
Piramal Enterprises’ unit, Piramal Consumer Products, has acquired Piramal Tower for Rs 875 crore. The company has also invested Rs 289.6 crore in Piramal Consumer Products through a rights issue.
SJVN
SJVN has won a 100 MW solar power project from Gujarat Urja Vikas Nigam. The project, to be developed by SJVN Green Energy, is estimated at a tentative cost of Rs 550 crore.
Seamec
Seamec has signed a Memorandum of Understanding (MoU) with HAL Offshore for the charter hire of the offshore support vessel ‘Sea Pearl’ for three years at a cost of $9.6 million.
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Zee Entertainment Enterprises, Zee Learn
Axis Bank has filed an insolvency petition against Zee Learn in the National Company Law Tribunal (NCLT) in Mumbai.
Life Insurance Corporation
The board of Life Insurance Corporation (LIC) has approved the proposal to set up a branch office in GIFT City, Gandhinagar, Gujarat.
Power Grid’s
Power Grid has commenced commercial operations at its 500 MW wind energy zone in Tamil Nadu. Additionally, the company has acquired Vataman Transmission for Rs 18.2 crore and the Koppal-Gadag transmission SPV in Karnataka for Rs 18.4 crore from Power Finance Corp.
Happy Forgings
Happy Forgings is set to debut on the stock exchanges on Wednesday at an issue price of Rs 850 per share. The company’s Rs 1,008.59-crore Initial Public Offering (IPO) witnessed robust investor interest, with a subscription rate of 82.04 times on its third and final day.
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Credo Brands Marketing
Credo Brands Marketing is gearing up for its stock market debut on Wednesday, with shares priced at Rs 280 apiece. The company’s Rs 549.78-crore IPO garnered significant investor attention, being subscribed 51.85 times on its third and final day.
RBZ Jewellers
RBZ Jewellers is poised to enter the stock exchanges on Wednesday, offering shares at an issue price of Rs 100 each. The Rs 100-crore IPO experienced healthy subscription, reaching 16.86 times on its third and final day.
