Top stocks to watch today, December 18: GIFT Nifty was trading down 65 points or 0.27% at 24,365 indicating a lower 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 negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 65 points or 0.27% lower at 24,365 indicating a negative start for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 closed the session 332 points or 1.35% lower at 24,336, while the BSE Sensex fell 1,064 points or 1.30% to close at 80,684.
Stocks to watch on December 18, 2024
NHPC
NHPC plans to raise its total installed capacity to 23 gigawatts (GW) by 2032 from its current capacity of 7.2 GW. By 2047, the company aims to increase the total capacity to more than 50 GW, the company’s Chairman and Managing Director Raj Kumar Chaudhary tells The Financial Express in an interview. The company is optimistic of increasing its net profit to Rs 4,500 crore in the next financial year 2025-26.
Reliance Power
Reliance NU Suntech, a subsidiary of Reliance Power, has been awarded a major contract by the Solar Energy Corporation of India (SECI) for a solar and battery energy storage system (BESS) project. The project is for its 930 MW solar project, along with a 465 MW/1860 MWh BESS component.
Read More: Stock Market Updates: Sensex Drops 351 Points, Nifty Below 24,750
Ambuja Cements
Adani Group-owned Ambuja Cements announced the merger of its subsidiaries Sanghi Industries and Penna Cement Industries with itself. In a regulatory filing, the company said that it has entered into a scheme of arrangement with the two aforementioned companies and the proposed schemes provide for the amalgamation of SIL and PCIL with Ambuja Cements.
Exide Industries
Exide Industries has invested around Rs 100 crore in its wholly owned subsidiary, Exide Energy Solutions (EESL) by way of subscription in the equity share capital on a rights basis. With this, the total investment, as of date, made by the company in EESL now stands at Rs 3152.24 crore, including investment made in the erstwhile merged subsidiary Exide Energy Private Limited
REC
Rural Electrification Corporation (REC) has raised Rs 2,195 crore through bonds of different maturities. The state-owned firm has raised Rs 575 crore via bonds maturing in 15 years at a coupon rate of 7.14%. It has also raised Rs 1,620 crore at 7.10% through bonds maturing in 10 years and four months.
Read More: HDFC Bank Q3 FY 2025 Results Date Announced: Check Earnings Announcement Schedule
Jindal Saw
Jindal Saw has inked a pact to acquire 31.20% equity in ReNew Green Energy. Nonetheless, the firm did not disclose the financial details of this equity acquisition. In a filing, Jindal Saw said, “It has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire shareholding up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted RGMHH as an associate of the company”.
Pfizer
Pfizer forecasted 2025 profit to be roughly in line with estimates, offering some relief to investors after the drugmaker came under fire from shareholders including hedge fund Starboard over its turnaround strategy.
Granules India
Granules India said its subsidiary has received approval from the US health regulator for a generic medication used to treat attention-deficit hyperactivity disorder. Granules Pharmaceuticals, Inc (GPI) has received approval from the US Food & Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Lisdexamfetamine Dimesylate chewable tablets.
