Top stocks to watch today, December 03: GIFT Nifty was trading up 7 points or 0.03% at 24,429 indicating a muted 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 Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded subdued as the index was trading 7 points or 0.03% higher at 24,429 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed the session 145 points or 0.60% higher at 24,276, while the BSE Sensex rose 445 points or 0.56% to close at 80,248.
Stocks to watch on December 03, 2024
Adani Power
Bangladesh has reduced by half the power it purchases from Adani Power, citing lower demand during the winter season, government officials informed Reuters on Monday. This development comes amidst disputes over unpaid dues amounting to hundreds of millions of dollars. Adani Power cut its power supply to Bangladesh by 50% on October 31, citing payment delays as the country grapples with a foreign exchange crisis.
ONGC
Oil and Natural Gas Corporation (ONGC) is looking to venture into mining of offshore minerals given the company’s technical expertise in drilling in subsurface and offshore areas, a senior executive at the company said.
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Tata Consumer Products
Tata Consumer Products proposes to double the number of beverage vending machines to about 4,000 (from over 2,000 machines now) by the end of FY25 by tapping the hotels, restaurants, catering (HORECA) segment apart from corporate houses, Nidhi Verma, head, vending business, Tata Consumer, told FE. The business was incubated in 2023, with under 700 machines. Verma says this number has tripled in a year.
Swiggy
Food delivery major Swiggy announced that it is expanding its 10-minute food delivery service Bolt to over 400 cities in India. The service was initially launched in October this year in Hyderabad, Mumbai, Delhi, Pune, Chennai and Bangalore. The platform, which recently got listed, said Bolt would now enter into tier-2 and 3 cities such as Roorkie, Guntur, Warangal, Patna Solan, Nashik, and Shillong among others.
Torrent Power
Torrent Power announced the opening of equities on qualified institutional placement (QIP) basis at a floor price of Rs 1,555.75 apiece as part of its plan to raise up to Rs 5,000 crore in one or more tranches. The company did neither disclosed the number of shares to be issued nor the total issue size.
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Pricol
Pricol announced the acquisition of Sundaram Auto Components (SACL)’s Injection Moulding business through Pricol Precision Products Private Limited (a wholly owned subsidiary of Pricol). With this acquisition, it said, Pricol will see a consolidated topline addition of approximately Rs 730 crore combined with SACL’s financial parameters that are value accretive to Pricol.
Hindustan Unilever
Hindustan Unilever announced that it has adhered to the directive from the Income Tax assessing officer to pay Rs 192.55 crore, which is 20% of the total outstanding demand amounting to Rs 962.75 crore. This originates from a disagreement concerning the tax deduction at source (TDS) associated with a payment of Rs 3,045 crores for the acquisition of intellectual property rights related to India HFD from entities of the GlaxoSmithKline (GSK) Group.
