Stocks to Watch: The government has decided to divest up to 3% stake in state-owned Indian Overseas Bank (IOB) through an offer for sale (OFS) commencing on Wednesday.
The GIFT NIFTY futures suggest that the NIFTY50 index will open 19 points lower. | Image: Shutterstock
Stocks to Watch: The domestic stock market is expected to open marginally lower on Wednesday, December 17. The GIFT NIFTY futures suggest that the NIFTY50 index will open 19 points lower.
Here is a list of stocks that may remain in focus today.
Protean eGov Technologies: The company on Tuesday announced that it would acquire a 4.95% stake in NSDL Payments Bank for ₹30 crore.
"This collaboration enables us to develop future-ready banking technologies that can be proven at scale and extended across the wider financial ecosystem," an exchange filing from Protean said.
The investment is part of Protean's long-term vision of building trusted, population-scale digital infrastructure, as per an official statement.
The transaction is expected to be completed within 60 days from the execution of the agreement, it said.
Shriram Finance: The shares will be in focus as the company's board will meet on Friday, December 19, 2025, to consider fundraising.
Indian Overseas Bank (IOB): The government has decided to divest up to 3% stake in state-owned Indian Overseas Bank (IOB) through an offer for sale (OFS) commencing on Wednesday.
At the current market price, the government would be able to garner about ₹2,100 crore by offloading up to 3% stake in the bank.
The government proposes to sell up to 38.51 crore (38,51,31,796) shares, or 2% of the base offer size, with an option to additionally sell 19.25 crore (19,256,5898) shares, representing 1% of the total issued and paid-up equity share capital of the bank, IOB said in a regulatory filing.
Ola Electric: Shares of Ola Electric Mobility are expected to be in the spotlight on Wednesday, December 17, as, according to a PTI report, the company's founder, Bhavish Aggarwal, has undertaken a limited monetisation of his personal shareholding to fully release all promoter-level share pledges totalling ₹260 crore.
The PTI report that quoted its sources said the promoter-group holding will be over 34% after the limited stake monetisation, among the largest in the listed new-age listed cohorts.
Ola Electric is not expected to see further promoter pledges, as the current one was done to seed fund AI startup Krutrim, which has re-emerged as a cloud infra player with positive cash flows.
ITC, Aditya Birla Real Estate (ABREL): Fair trade regulator CCI on Tuesday cleared conglomerate ITC Ltd's proposal to acquire the pulp and paper business of Aditya Birla Real Estate Ltd (ABREL) for ₹3,498 crore.
The development came after ABREL in March this year announced that its board has approved the execution of the business transfer agreement for the divestment of the pulp and paper undertaking situated in Lalkuan, Uttarakhand, by way of a slump sale to ITC.
The Competition Commission of India (CCI) said it has approved the proposed deal.
IIFL Finance: IIFL Finance on Tuesday said that the global credit rating agency Standard and Poor’s (S&P) has revised the company's outlook to 'Positive' from ‘Stable’ on recovering market share in gold loans.
S&P, in its rating rationale, said, "The outlook revision reflects IIFL's strengthening market share in the gold financing business. This is a year after a central bank embargo on the company sanctioning or disbursing fresh gold loans was lifted. We expect IIFL to maintain very strong levels of capitalisation over the next 12 months."
S&P also anticipated that the company's portfolio pruning and reduced exposure to microfinancing will lower its credit costs.
It further said that the IIFL's credit costs will peak this fiscal year ending March 31, 2026.
TCS: Shares will be in focus as ListEngage MidCo LLC (‘ListEngage’), a wholly owned subsidiary of the company, has formed ‘TCS North America Corporation’ and ‘Trident LE LLC’, wholly owned subsidiaries in the USA, on December 15, 2025.
Ahluwalia Contracts: Ahluwalia Contracts (India) Limited has secured a work order from Bihar State Tourism Development Corporation Ltd. The size of the order is ₹888.38 crore (including GST).
Saregama India: Saregama India Ltd on Tuesday said its board has approved a strategic investment in filmmaker Sanjay Leela Bhansali-promoted Bhansali Productions Pvt Ltd (BPPL) through a ₹325 crore subscription to compulsory convertible preference shares.
The company said it will subscribe to 9,960 compulsory convertible preference shares (CCPS) of BPPL, which would be completed by February 14, 2026, subject to customary conditions precedent.
Post conversion of the CCPS, Saregama India's shareholding in BPPL is expected to range between 28% and 49.9% on a fully diluted basis by 2028, with an option to acquire an additional stake in multiple tranches, leading to 51% by 2030, it said.
Vedanta: Shares of the metals giant are expected to trade actively today as well, as the National Company Law Tribunal has approved its demerger plan, paving the way for splitting the group into sector-specific entities across aluminium, oil and gas, power, and iron and steel.
Kaynes Technology: Kaynes Semicon Private Limited, a wholly owned subsidiary of Kaynes Technology India Limited, is pleased to announce two landmark strategic partnerships with global technology leaders – AOI Electronics Co., Ltd. (Japan) and Mitsui & Co., Ltd. (Japan) – to strengthen its upcoming semiconductor manufacturing operations in India.
These alliances are expected to play a crucial role in advancing India’s ambitions to become a global semiconductor hub.
Akzo Nobel India: Shares will be in focus as Imperial Chemical Industries is likely to sell up to 9% stake in the company via a block deal. The offer size is ₹1,290.6 crore and the floor price is reported to be ₹3,150 per share.
NBCC India: State-owned NBCC India shares will be in focus as the firm secured two orders worth ₹345.04 crore on Tuesday, December 16. The contracts were awarded by IIT Mandi and Kandla SEZ.
The IIT Mandi order, valued at ₹332.99 crore, involves project management consultancy services for planning, design and construction of academic blocks, faculty housing and a student activity centre, including a sports complex.
Glenmark Pharma: Shares of Glenmark Pharmaceuticals will be in focus as the company inked a pact with China's Hansoh Pharma to commercialise a drug indicated for the treatment of non-small cell lung cancer in various global markets.
Glenmark Speciality SA, a wholly owned subsidiary of the company, has entered into an exclusive licence, collaboration and distribution agreement with Hansoh Pharma for Aumolertinib, a third-generation epidermal growth factor receptor tyrosine kinase inhibitor.
Waaree Renewable Technologies: Sunsational Power Private Limited, a wholly owned subsidiary of Waaree Renewable Technologies Limited, has executed a long-term Power Purchase Agreement (PPA) for a 300 MW Inter-State Transmission System (ISTS) connected solar power project. The PPA has been signed with a leading global tech giant with significant and growing energy requirements in India.
eClerx Services: The company said that the buyback price has been increased from ₹ 4,500 per equity share to ₹ 4,800 per equity share, and the maximum number of equity shares proposed to be bought back by the company has been consequently reduced from 666,666 equity shares to 625,000 equity shares, representing up to 1.31% of the total paid-up equity shares of the company.
With inputs from PTI
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