Top stocks to watch today: GIFT Nifty was trading up 31 points or 0.13% at 23,800 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 subdued opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty was trading 31 points or 0.13% higher at 23,800 indicating a muted start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 364 points or 1.52% lower at 23,587, while the BSE Sensex fell 1,176 points or 1.49% to close at 78,041.
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Stocks to watch on December 23, 2024
Indian Oil Corporation
Indian Oil Corporation began a probe into allegations of a US speciality chemicals firm bribing its officials 15 years back to obtain contracts to supply catalysts. Albemarle Corporation, a global speciality chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly “paid approximately $1.14 million in commission to India intermediary company relating to Indian Oil Corporation business. It obtained approximately $11.14 million in profits on that business between approximately 2009 and 2011,” according to a US SEC order dated September 28, 2023.
Shriram Finance
Shriram Finance announced the consolidation of its green financing initiatives under Shriram Green Finance to grow and expand beyond electric vehicle (EV) financing. The company has set a target for assets under management of Rs 5,000 crore for the vertical over the next 3–4 years.
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Tata Steel
Dutch regulators have threatened Tata Steel with fines and the forced closure of one of its coke plants in IJmuiden if the company doesn’t significantly reduce toxic emissions in the next twelve months. Tata Steel Netherlands will face fines of almost €27 million ($28 million) if it doesn’t take measures at its Coke plaBy Charlotte Hughes-Morgan.
IndusInd Bank
The Reserve Bank of India (RBI) on Friday imposed penalties on IndusInd Bank and Manappuram Finance amounting to Rs 27.3 lakh and Rs 20 lakh, respectively, for non-compliance with norms. The statutory inspection of the companies was conducted by the RBI with reference to their financial position as of March 31, 2023.
Fortis Healthcare
Fortis Healthcare announced the acquisition of 5,970,149 equity shares from the International Finance Corporation (IFC), representing a 7.61% stake in its material subsidiary, Agilus Diagnostics. The transaction, valued at Rs 429.37 crore, was executed at Rs 719.2 per equity share under the terms of a shareholders’ agreement on Friday, December 20.
UltraTech Cement
The Competition Commission of India approved UltraTech Cement’s acquisition of India Cements. Earlier in July this year, UltraTech Cement had announced the acquisition of a 32.72% stake in India Cements from promoters and their associates in a Rs 3,954 crore deal.
Reliance Industries
Reliance Industries’ wholly owned subsidiary Reliance Digital Health (RDHL) has entered into definitive agreements to acquire a 45% equity stake in Health Alliance Group Inc. (HAGI) for a total consideration of $10 million.
Vedanta
Vedanta announced revisions to its previously proposed demerger scheme, deciding to retain its base metals undertaking within the parent company. This decision follows discussions with stakeholders, including lenders, and was approved by the Board on December 20, 2024.
