GIFT Nifty traded flat slightly down by 5.50 points or 0.03% at 21,957.50, indicating a lacklustre opening for domestic indices. Here’s a look at the key stocks to watch in trade.
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a lacklustre opening on Friday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded flat slightly down by 5.50 points or 0.03% at 21,957.50, indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 gained 123.95 points or 0.57% to settle at 21,778.70, while the BSE Sensex ended higher by 371.95 points or 0.52% to 72,410.38.
“The Nifty remained firmly in bullish territory as the index surged to a new all-time high. Strong put writing at the 21700 strike bolstered the bulls, propelling the index toward 21800. Short-term support is situated at 21700, signaling a continued bullish sentiment. A decisive move above 21800 could lead the index toward the 22000 mark,” said Rupak De, Senior Technical Analyst at LKP Securities.
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Stocks to Watch on December 29, 2023
Punjab National Bank
Punjab National Bank has obtained approval for raising funds amounting to Rs 7,500 crore in one or more tranches during the upcoming financial year.
IndusInd Bank, IDFC First Bank, RBL Bank
The Reserve Bank of India (RBI) has granted approval to ICICI Prudential AMC and ICICI Prudential Life to collectively acquire a stake of up to 9.95% in both IndusInd Bank and IDFC First Bank.
Federal Bank, Equitas Small Finance Bank
ICICI Prudential Asset Management Company has received the regulatory nod from RBI to acquire a stake of up to 9.95% in Federal Bank and Equitas Small Finance Bank.
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Oil Marketing Companies
Reports suggest that state-run Oil Marketing Companies (OMCs) are likely to announce reductions in petrol and diesel prices.
ICICI Lombard
ICICI Lombard General Insurance has received a demand of Rs 1,728 crore from the GST Authority and an accompanying penalty of Rs 172 crore for the period between July 2017 and March 2022. The company has announced its intention to file an appeal.
Tata Coffee & Tata Consumer
The scheme of arrangement between Tata Coffee, Tata Consumer Products, and TCPL Beverages and Foods, a wholly-owned subsidiary, will be effective from January 1, 2024. The arrangement involves the demerger of Tata Coffee’s plantation business into TCPL Beverages & Foods and the subsequent merger of the remaining business with Tata Consumer Products.
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Thermax
Thermax has successfully completed the transfer of leasehold rights for a vacant plot in MIDC Industrial Area Chinchwad, Pune, measuring 57,482 sq. meters, for a consideration of Rs 135.66 crore.
D B Realty
D B Realty has approved a corporate guarantee of Rs 45 crore to Capri Global Capital in connection with the term loan facility granted by Capri Global Capital to D B Realty’s subsidiary, Esteem Properties.
Aditya Birla Fashion and Retail
Aditya Birla Fashion and Retail has raised its stake in unit Finesse International Design from 58.7% to 63.5%, investing Rs 20 crore.
Lemon Tree Hotels
Lemon Tree Hotels has inked a franchise agreement for an upcoming hotel in Mussoorie, Uttarakhand, under the company’s brand, ‘Lemon Tree Hotel.’
Aarti Drugs
Aarti Drugs has received an administrative warning from SEBI regarding the non-disclosure of the plant closure in April 2022.
Innova Captab
Innova Captab’s shares are set to debut on the stock exchanges at an issue price of Rs 448 apiece. The Rs 570-crore IPO witnessed robust demand, subscribing 55.26 times on its third and final day.
