Stocks To Watch: Adani Ports, Swiggy, Wipro, Coal India, BPCL, SBI, And Others – News18
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Stocks to watch: Shares of firms like Adani Ports, Swiggy, Wipro, Coal India, BPCL, SBI, and others will be in focus on Tuesday’s trade
Stocks To Watch
Domestic markets began the week on a positive note, rising by more than half a percent despite mixed signals. Today’s trading session will focus on companies such as Swiggy, Wipro, Torrent Power, Ambuja Cements, Tata Power, BPCL, and others due to various news developments.
Adani Ports and Special Economic Zone (APSEZ): Rating agency CareEdge has upgraded Gopalpur Ports Limited’s (GPL) credit rating from “BBB” (RWP) to “AA/Stable,” a six-notch increase, following APSEZ’s acquisition of the port in March this year.
Cipla: The company’s promoters, Samina Hamied and Rumana Hamied, have sold a 1.72% stake for Rs 2,111 crore through open market transactions. New investors, including the Singapore government, Societe Generale, Abu Dhabi Investment Authority, BNP Paribas, BofA Securities, Citigroup, Morgan Stanley, Goldman Sachs, Norges Bank, UBS, and Copthall Mauritius, have acquired stakes in Cipla.
Coal India: The company’s coal production rose by 2.4% to 471 million tonnes (mt) in the April-November period of FY24, compared to 460 mt in the same period last year. The production for November increased by 1.7% to 67.2 mt. Coal India accounts for over 80% of the country’s domestic coal production.
Axis Bank: The private lender is awaiting clarification from the Reserve Bank of India (RBI) regarding its subsidiary, Axis Finance, after the RBI proposed that only one entity within a banking group can conduct a specific type of permissible business.
Bajaj Finserv: The company will invest Rs 1,000 crore in its subsidiary, Bajaj Finserv Health, over the next three years. The subsidiary aims to break even by FY27, according to CEO Devang Mody.
Tata Motors: Tata International and Tata Motors have launched a registered vehicle scrapping facility (RVSF) in Pune, named ‘Re.Wi.Re—Recycle with Respect.’ The facility can dismantle up to 21,000 end-of-life vehicles annually, catering to both commercial and passenger vehicles across various brands.
State Bank of India (SBI): The bank plans to open 500 new branches across India in the current financial year. As of October 31, 2024, 135 new branches have already been opened, as per a statement from Minister of State for Finance, Pankaj Chaudhary, in the Lok Sabha.
Vodafone Idea (Vi): Vi has introduced a spam management solution, powered by artificial intelligence (AI) and machine learning (ML). The filter has already intercepted 24 million spam texts, following a similar initiative by Bharti Airtel and BSNL.
Punjab & Sind Bank: The public sector lender plans to raise Rs 3,000 crore through 10-year infrastructure bonds. These bonds, rated ‘AA’ by CRISIL and IndiaRatings, will have a base size of Rs 500 crore and a green-shoe option of Rs 2,500 crore.
Swiggy: The company has expanded its 10-minute food delivery service, Bolt, to over 400 cities and towns across the country.
Torrent Power: The company has announced the opening of a qualified institutional placement (QIP) at a floor price of Rs 1,555.75 per share, as part of its plan to raise up to Rs 5,000 crore in one or more tranches.
Nazara Technologies: The board of gaming and sports media firm Nazara Technologies has approved five investments totaling Rs 196 crore, including the full acquisition of Absolute Sports, the parent company of Sportskeeda.
Tata Group Stocks: Tata Sons Chairman N Chandrasekaran has urged CEOs of Tata Group companies to focus on aggressive growth despite growing uncertainties in domestic and global markets. During strategy discussions, Chandrasekaran emphasized the importance of seizing growth opportunities quickly, even if it means adjusting margins later.
Steel Stocks: The Ministry of Steel has proposed a 25% safeguard duty on the import of certain steel items to protect the domestic steel industry from unfair competition. This safeguard duty is a temporary customs tax aimed at shielding local manufacturers.
Torrent Power: Torrent Power launched its qualified institutional placement (QIP) issue and has set the floor price at Rs 1555.75 per equity share.
BPCL: BPCL signed an MoU with Coal India for setting up a coal to synthetic natural gas project at Western coalfields through surface coal gasification.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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