Stocks to Watch, Dec 22: Indian Hotels, Varun Beverages, GE Vernova, Tata Chemicals, UltraTech Cement, Kajaria Ceramics, Fortis Health, Infosys

The move will lead to the transition of IHCL's joint venture with the GVK-Bhupal family in Taj GVK Hotels and Resorts Ltd to a long-term management agreement for its portfolio of hotels.

GVK-Bhupal family will continue to be promoters and will hold 74.99% in the company, on the completion of the transaction, IHCL stated.

Puneet Chhatwal, Managing Director & CEO of IHCL, said: "In line with IHCL's five-year roadmap 'Accelerate 2030', focused on a capital-light strategy, the next phase with the GVK-Bhupal family transitions from a shareholding agreement to long-term management contracts. We look forward to realising our common purpose of unlocking India's tourism potential."

In its regulatory filing on Friday, post-market hours, it said that Dilip Kumar Maliwal, chief financial officer (CFO) of Kajaria Bathware Private Limited, a wholly-owned subsidiary (‘KBPL’) of the company, was found to have committed fraud over a period of the last two years.

The fraud was committed by way of embezzlement and syphoning of funds of Kerovit Global Private Limited, a wholly-owned subsidiary (‘WoS’) of KBPL, which is a step-down WoS of the company.

Twizza is engaged in the business of manufacturing and distributing its own branded non-alcoholic beverages. It operates through three manufacturing facilities in Cape Town, Queenstown, and Middelburg and has a combined annual production capacity of 100 million cases.

The acquisition is done on an "enterprise value of ZAR 2,095 million (₹1,118.7 crore)", which will be "payable in cash", said a regulatory filing from Varun Beverages Ltd (VBL).

Commenting on the acquisition, Managing Director & CEO, TCL, said, "Novabay’s focus on premium-grade sodium bicarbonate aligns seamlessly with TCL’s strategy to expand its presence in high-value, non-cyclical product segments. This acquisition strengthens TCL’s capabilities in the speciality bicarb market and enhances our ability to serve premium customer requirements."

In an exchange filing on December 20, the company said it has signed definitive agreements for the acquisition of the 125-bed hospital in Bengaluru's Yeshwanthpur by way of a 100% acquisition of TMI Healthcare Pvt Ltd, the entity under which the People Tree Hospital business operates.

The said acquisition would be undertaken by Fortis Healthcare's wholly owned subsidiary International Hospital Limited (IHL), it said in a statement.

Besides airports, the diversified conglomerate is also present in the MRO and pilot training business.

"We have separated the two (aviation). One is the airport infrastructure, and the other is the aircraft services business. So that can include dual use, defence and civilian use. So, between Indamer and Air Works (MROs), we are now combining the platform into a single giant MRO company," Jeet Adani, Director of Adani Airport Holdings Ltd (AAHL), told PTI during an interaction last week.

Separately, Adani Airports expects total passenger traffic at its eight airports, including the soon-to-be-operational Navi Mumbai airport, to touch 120 million next year, a senior official has said.

In an interaction with PTI ahead of the start of commercial operations from the Navi Mumbai International Airport on December 25, Adani Airport Holdings Ltd (AAHL) Director Jeet Adani stressed that there is "no need" to scout for assets abroad, as the priority now is to focus on the domestic market.

A part of the US-based Cummins Inc., Cummins India Ltd is involved in the power generation, aftermarket, and export businesses with five manufacturing plants, assembly, and distribution facilities.

"Data centres have been a part of our portfolio for a while. We do see growth in data centres coming in India, so we have an important role to play," Shveta Arya, Managing Director, Cummins India Ltd, told PTI during an interaction.

These centres require 99.99% uptime for customers, and they have different levels of backup power, she said.

Mumbai-based Keystone Realtors, which sells properties under the Rustomjee brand, is one of the leading real estate developers in the country.

In an interview with PTI, Keystone Realtors Chairman and Managing Director Boman Irani said the company is very bullish on housing demand and expressed confidence in easily achieving the sales bookings target of ₹4,000 crore this fiscal year.

The company has already sold properties worth ₹1,839 crore in the first half of 2025-26, up 40% annually.

About new launches, Irani said the company is targeting to launch a super luxury residential project at Bandstand, Bandra, in Mumbai next month.

The demerger of metals-to-oil conglomerate Vedanta Ltd into separate listed entities is designed to sharpen focus, unlock value and keep cash returns flowing without interrupting its capital expenditure cycle, Agarwal told PTI in an interview.

The National Company Law Tribunal (NCLT) on Tuesday approved the plan to split Vedanta into five different listed entities. After the demerger, the base metals business will be housed in Vedanta Ltd, while Vedanta Aluminium, Talwandi Sabo Power, Vedanta Steel and Iron and Malco Energy, housing the oil and gas business, will be the other four listed entities.

NHPC, under the Ministry of Power, is constructing the hydroelectric project (8 X 250 MW) near North Lakhimpur on the border of Arunachal Pradesh and Assam.

This is the largest hydroelectric project ever undertaken in India and is a run-of-river project with water storage on the Subansiri.

In an exchange filing, NHPC said it "declares commercial operation of unit 2 (250 MW) of the Subansiri Lower HE Project...from 00:00 hours on 23.12.2025."

The outlook is underpinned by policy support, including GST rationalisation, easing monetary conditions, and income tax relief, which together are likely to improve affordability and sustain consumer demand across vehicle segments.

"Today my home loan portfolio is more than ₹9 lakh crore...this is the single largest business unit in the bank, over 20% of our total assets," SBI Chairman C S Setty told PTI.

At a 14% growth rate, SBI is well on the path to achieve a milestone of a ₹10 lakh crore home portfolio next financial year, Setty said.

SBI's home loan portfolio crossed the ₹9 lakh crore mark last month, making it the biggest mortgage loan provider in the country. ** Titan Company**: Leading watch and jewellery maker Titan is "very bullish" for its watch business, which is expected to touch the $1 billion sales mark in the next two years, led by factors such as premiumisation, retail footprint expansion and growth of the international business division, a top company official said.

Titan recorded a compounded annual growth rate (CAGR) of about 16% in the last four to five years, and it is focusing on the mid-premium analogue segment (₹10,000 to ₹25,000) and the premium segment (₹25,000 to ₹1 lakh) to drive growth, Titan Watch Division CEO Kuruvilla Markose told PTI.

Under the proposed terms, Infosys McCamish Systems had agreed to pay $17.5 million into a fund to settle all the pending class action lawsuits related to a cybersecurity incident in 2023, which identified the Infosys subsidiary as the main source.

If the settlement is not appealed within 30 days, "it will become effective and resolve all allegations made in the class action lawsuits without admission of any liability," Infosys said.

In a separate filing, Infosys on Saturday, December 20, said the company has observed volatility in the price of its American Depositary Receipt (“ADR”) on the New York Stock Exchange (“NYSE”) on December 19, 2025, which resulted in two Volatility Trading Pauses (“Limit Up-Limit Down”/“LULD”) being triggered by NYSE.

"In this regard, the Company hereby clarifies that there are no material events that require disclosure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Regulations”). This communication is being issued in the interest of transparency and to avoid any unwarranted speculation," Infosys said.

The board at its meeting held on Friday approved Kanungo's appointment with immediate effect, underscoring its strong confidence in his leadership, independence, and deep regulatory and institutional expertise, IIFL Finance said in a regulatory filing on Friday.

Kanungo brings with him over four decades of experience in central banking, monetary policy, and financial regulation, it said.

He served as Deputy Governor of the Reserve Bank of India from 2017 to 2021 and was a Member of the Monetary Policy Committee (MPC).

Equipped with 2K projection, Dolby 7.1 and next-gen 3D support for big releases, this new multiplex is developed under the Company’s Franchise Owned Company Operated (FOCO) model, PVR INOX said in a regulatory filing.

"With this launch, PVR INOX now operates the largest multiplex network with 1,774 screens at 356 properties in 112 cities (India and Sri Lanka)," it said.

"The company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand," UltraTech Cement said in a regulatory filing.

The order has been passed in various matters on account of "alleged short payment of GST, improper utilisation of Input Tax Credit, etc." during the period 2018-19 to 2022-23, the company said.

The order is passed "without due consideration of the company’s submissions".

The order, received on December 18, relates to alleged irregular input tax credit claims for FY19–FY23. Tata Steel noted it had already paid ₹514.19 crore in GST, proposed to be appropriated, leaving the disputed amount at ₹493.35 crore.

The company said its submissions were not adequately considered, and it will challenge the order within statutory timelines, adding that the matter will have no impact on its financial or operational performance.

The project is expected to be completed over a period of multiple years.

It will be manufactured at Granules’ US-based facility located in Chantilly, Virginia.