Stocks to watch: The domestic equity market is expected to see a negative start to trading on Wednesday, December 18.
At 7:59 AM, the GIFT NIFTY futures traded at 24,362, down 2.50 points, or 0.01%. This implies that the NIFTY50 index will open 56 points lower.
On the global front, US stocks closed lower on Tuesday, and crude prices fell as investors assessed economic data and braced themselves for a series of central bank decisions, including an expected rate cut from the Federal Reserve.
Members of the Federal Open Market Committee (FOMC) convened on Tuesday for their two-day monetary policy meeting, which is widely seen culminating on Wednesday with a 25 basis-point cut to the key Fed funds target rate.
The blue-chip Dow ended in negative territory for the ninth consecutive session, marking its longest losing streak since 1978.
Here is a list of stocks that may remain in focus today.
Va Tech Wabag: The company informed exchanges that its order from the Saudi Water Authority worth ₹2,700 crore, which it informed about in September, stands cancelled.
Aditya Birla Sun Life AMC: The company said that Vikas Gautam, CEO—International Business (Senior Management Personnel), has tendered his resignation due to personal commitments. His resignation has been accepted, and his last day of working with the company will be December 31, 2024.
Aditya Birla Real Estate: Birla Estates Private Limited, a wholly owned subsidiary of Aditya Birla Real Estate Limited (formerly Century Textiles and Industries Limited), on Tuesday announced that it has acquired a land parcel covering 70.92 acres in Boisar, Maharashtra, for ₹104.3 crore.
RITES: The PSU has received an order from the Meerut Development Authority for consultancy services to prepare a detailed project report (DPR) and construction supervision of all infrastructure works of the Meerut Development Authority for the next five years. The size of the order is ₹122.60 crore, excluding GST.
Alembic Pharma: Alembic Pharma said in its filing to stock exchanges that the company has issued corporate guarantees cumulatively aggregating to $10 million in favour of HSBC Bank, Chile, for providing a working capital facility in Alembic Pharmaceuticals SpA, Chile, a wholly owned subsidiary of the company.
Ambuja Cements: Ambuja Cements will merge the acquired companies Saurashtra-based Sanghi Industries and Andhra Pradesh-based Penna Cement Industries with itself.
Adani Group entity Ambuja Cements on Tuesday announced separate schemes of arrangement of its subsidiaries Sanghi Industries Limited (SIL) and Penna Cement Industries Limited (PCIL).
"This consolidation will help to streamline the organisation structure and simplify compliance requirements for effective governance," said a statement from the country's second-largest cement maker.
Pondy Oxides and Chemicals: Pondy Oxides and Chemicals opened QIP on Tuesday. The company has set the floor price at ₹902.93 per share.
Gulf Oil Lubricants: Gulf Oil Lubricants India Limited (Gulf Oil) and Piaggio Vehicles Pvt Ltd (Piaggio India), a 100% subsidiary of the Italian auto giant Piaggio Group announced the renewal of their strategic partnership agreement for two-wheeler lubricants.
This exclusive collaboration, originally signed in January 2020, has now been extended until 2032, reaffirming both organizations' commitment to delivering high-quality, co-branded lubricants tailored to Piaggio's two-wheeler range, including their high-performance sports bike and superbike segments.
Muthoot Capital Services: In a regulatory filing, the company said, "We hereby inform you that the meeting of the Debenture Issue and Allotment Committee of the Board of Directors of the Company is scheduled to be held on Friday, 20th December 2024, to inter alia consider and approve the issuance of non-convertible debentures (“NCDs”) on a private placement basis."
Jindal Saw: The company has entered into a share purchase agreement with ReNew Green Energy Solutions (RGES) to acquire shareholding up to 31.20% equity share capital in ReNew Green MHH One Private Limited (RGMHH), which resulted in RGMHH being an associate of the company.
Route Mobile: The company informed its board that it has approved the re-designation of Rajdipkumar Gupta as the Managing Director of the company, upon ceding the role of Group Chief Executive Officer (“CEO”).
Besides, the board also approved the appointment of Gautam Badalia as the CEO (as KMP) of the company (erstwhile, Group Chief Strategy Officer), who will be responsible for driving the overall operations of the company, including driving strategic initiatives to accelerate the growth and profitability.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) inspected Unit-V, an API manufacturing facility, of Apitoria Pharma Private Limited, a wholly owned subsidiary of the company, situated at Pashamylaram Village, Telangana, from December 09 to December 17, 2024.
The inspection closed with 02 observations. The observations are of a procedural nature and will be responded to within the stipulated time, it added.
MobiKwik, Vishal Mega Mart, and Sai Life Sciences: Shares of MobiKwik, Vishal Mega Mart, and Sai Life Sciences will be listed on the NSE and the BSE on Wednesday, December 18, at 10 am.
(With inputs from Reuters)
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