Top stocks to buy today, December 09: GIFT Nifty was trading down 7 points or 0.03% at 24,721 indicating a subdued start for domestic indices. Here are the top stocks to watch for the day.
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a muted opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 7 points or 0.03% lower at 24,721 indicating a subdued start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 30 points or 0.12% lower at 24,678, while the BSE Sensex fell 57 points or 0.07% to close at 81,709.
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Stocks to watch on December 09, 2024
Tata Power
Tata Power is looking to incur 2.5 times more capex over the next five years than the Rs 50,000 crore it spent between 2021 and 2025. “We will incur a capex of Rs 1.25 lakh crore between 2026 and 2030,” said Praveer Sinha, MD and CEO at the company’s cell and module plant in Tirunelveli in Tamil Nadu.
Godrej Consumer Products
Godrej Consumer Products provided its outlook for the third quarter of the ongoing fiscal, stating that a challenging demand environment and external pressures are affecting its key business segments. In its standalone business, soaps, which contributes roughly a third of its revenue, has faced headwinds from a 20-30% year-on-year increase in palm oil and derivative prices.
Welspun Corp
Welspun Corp has bagged two large orders–one each for the supply of HSAW-coated pipes and HSAW-coated pipes for Natural Gas Pipeline Projects in the US. These new orders were secured by the company’s US plant, taking the cumulative value of orders received by the unit till Q3 FY25 so far to over Rs 7,000 crore.
Suven Pharmaceuticals
Suven Pharmaceuticals has signed definitive agreements to acquire a 56% equity stake in NJ Bio, Inc. The $64.4 million deal includes both primary equity infusion and secondary acquisition. As part of the deal, Suven Pharma will invest $15 million in primary equity to accelerate NJ Bio’s growth initiatives. The transaction includes acquiring 9.3 lakh common equity shares from existing shareholders of NJ Bio and subscribing to 2.8 lakh newly issued common equity shares.
Delta Corp
Delta Corp announced a revision to its previously approved scheme for demerging its hospitality and real estate businesses. The updated plan aims to ensure the financial and operational optimisation of the Dhargalim project, Goa, a key component of the company’s growth strategy in the hospitality and real estate sector.
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Paytm
Paytm’s wholly-owned Singapore entity is set to sell its stake in Japanese fintech corporation PayPay to Softbank Vision Fund 2 for Rs 2,364 crore. One97 Communications Singapore approved the sale of Stock Acquisition Rights (SARs) held in PayPay Corporation on Friday. The transaction is expected to close this month subject to approvals. The sale is expected to strengthen the parent company’s cash reserves.
Easy Trip Planners
Easy Trip Planners will acquire a 49% stake in Dubai-based Pflege Home Health Care Center for Rs 30 crore to enter the healthcare and medical tourism sector, a 50% stake in Uttar Pradesh’s Jeewani Hospitality for Rs 100 crore to expand its hotel operations, and a 49% stake in Australia’s Planet Education for Rs 39.2 crore to venture into the international education and student services market.
