Intellect Design Arena, Suven Pharma, India Cements, Zomato, Sterling and Wilson Renewable Energy, ITC: Check top buzzing stocks of the day

Stock market today: Domestic stocks were trading in the green in the afternoon deals on Monday, December 23.

At 01:07 PM, the S&P BSE SENSEX was trading at 78,378.90, up 337 points, or 0.43%, while the NSE's NIFTY50 index was trading at 23,687.60, up 100 points, or 0.42%.

The stock was trading 8.72% higher at ₹368.55 on the BSE.

The stock declined as much as 3% to ₹273.15 apiece on the BSE.

Zomato has replaced JSW Steel to enter the 30-share SENSEX. This was part of the latest reconstitution by Asia Index Pvt Ltd, a subsidiary of the BSE.

TeamLease Services Limited on Friday announced the execution of a definitive agreement with TSR Darashaw HR Services Private Limited (“TSR Darashaw”).

The company also announced the availing of board approval to acquire a stake in Crystal HR and Security Solutions Private Limited (“Crystal HR”).

These transactions are conditional to the fulfillment of customary closing conditions and other statutory approvals.

The stock tanked 10% on Friday after company management lowered expectations on HVDC orders in India in a recent analyst call.

Siemens Ltd shares opened lower and fell up to 2.8% to hit a low of ₹6,676.5 per piece on the NSE in morning deals. More than 1.99 lakh shares were traded on the exchange.

Siemens’ management stated in an analyst call that the company expects a slowdown in railway order flow and private capex (capital expenditure). It also sees the possibility of a higher share going to IR factories.

A Group of Ministers (GoM) was said to have recommended exempting GST on health insurance for senior citizens and term life insurance as well as lowering the indirect tax rate to 5% on health insurance with a coverage of Rs 5 lakh.

Presently, premiums paid on life and medical insurance largely attract a GST rate of 18%.

This led to a decline in the share prices of the insurance stocks.

The stock opened at ₹77.5 per share on the NSE and achieved a high of ₹78.11 during the morning trade on Monday, December 23. The shares are currently trading 0.67% up at ₹76.78 apiece.

As per experts, the stock is expected to leverage the growing health insurance industry in India and will deliver a robust return on equity. The market capitalisation of the company stands at ₹13,949.35 crore as per NSE data.

The company during the weekend informed exchanges that the company has acquired that the acquisition of the 56% equity share capital of NJ Bio, Inc., at an aggregate consideration of $64.4 million, which includes $15 million of primary equity infusion into the company, has been completed on December 20, 2024.

In an exchange filing on Tuesday, the company said that January 1, 2025, will be the appointed and effective date for the demerger.

The company received an order for the design, engineering, procurement, and construction of the Balance of System (BOS) for a 500 MW (AC) solar PV project on an EPC basis.

In addition to EPC with single-point responsibility, it will also include comprehensive O&M for three years.