Stocks to watch, December 12: Waaree Energies, Varroc Engg, Reliance Power, Gopal Snacks, Gland Pharma, Vedanta, and more

On the global front, Wall Street's benchmark S&P 500 index rose on Wednesday, and a rally in tech stocks lifted the Nasdaq above the 20,000-point milestone for the first time. The US inflation report boosted expectations of a Federal Reserve interest rate cut.

The Dow Jones Industrial Average dipped, dragged by health insurers as US lawmakers introduced a bill seen as crimping their profits.

Five of the 11 major S&P 500 sectors advanced, led by gains in communication services, technology, and consumer discretionary services.

The Consumer Price Index (CPI) rose 0.3% on a monthly basis in November. Annually, it stood at 2.7%, which is in line with estimates.

The subsidiary has secured the solar with storage project in an e-reverse auction held by SECI on Monday, parent Reliance Power said in a statement.

Notably, this project includes a green-shoe option that could potentially expand the total capacity of this project from the initial 250 MW to 500 MW. With this latest win, Acme Solar’s total capacity now stands at 6,970 MW.

The solar power plant will enable the generation and transmission of clean energy via the Inter-State Transmission System (ISTS). The project will supply renewable energy to Madhya Pradesh Power Management Company Ltd and Indian Railways thus contributing significantly to India’s renewable energy goals.

The stake sale is valued at approximately ₹1,734 crore and is being executed as a clean-out trade. The transaction is priced at ₹6,800 per share, reflecting a 6.8% discount to the company’s closing price on December 11, 2024, the report added.

The company's board, on December 11, considered and approved the OFS of "certain equity shares" of Greaves Electric Mobility in the proposed IPO.

The reason of the fire is yet to be ascertained. At present, the fire is still ongoing despite the immediate response of our internal firefighting team, as well as the presence of the local fire department, which is actively working to control the same and to ensure the safety of all personnel and mitigate further damage. 

"We would like to inform you that there have been no casualties or injuries to our personnel due to this unfortunate event. The exact cause of the fire is currently under investigation, and we are cooperating fully with the concerned authorities," the company said. 

The joint venture between Varroc and TYC (Varroc TYC Corporation) was also made a party to the arbitration proceedings.

As per the order, VarrocCorp Holding BV (the company’s subsidiary) will transfer its 50% shareholding in Varroc TYC Corporation (and its JV subsidiaries) to Beste Motors Co for RMB 310.5 million within 45 days of the award.

The company is assessing its legal options and, based on legal advice, will decide on the appropriate course of action.

The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Vitamin K1 Injectable Emulsion USP, 10 mg/mL, of Hospira, Inc.