Stocks to watch: The domestic equity market is expected to see a flat start to trading on Monday, December 30.
At 8:00 AM, the GIFT NIFTY futures were trading at 23,995.50, up 24.50 points, or 0.10%.
On the global front, Asian shares edged lower on Monday as high Treasury yields challenged lofty Wall Street equity valuations while underpinning the US dollar near multi-month peaks.
Volumes were light with the New Year holiday looming. China has the PMI factory surveys out on Tuesday, while the US ISM survey for December is due on Friday.
MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2% but is still 16% higher for the year. Japan's Nikkei eased 0.2% but is sitting on gains of 20% for 2024.
Here is a list of stocks that may remain in focus today.
IT stocks: IT stocks will be in focus today as US President-elect Trump told the media there that he supports immigration visas for highly skilled workers, appearing to side with Elon Musk.
“I’ve always liked the visas; I have always been in favor of the visas. That’s why we have them,” Trump said, referring to the H-1B program, which permits companies to hire foreign workers in specialty occupations.
It must be noted that over 70% of H-1B visa holders are Indian.
Coforge, Cigniti Technologies: Coforge and Cigniti Technologies have announced a merger.
Coforge will absorb the smaller Cigniti Technologies. As per the share swap ratio announced, Cigniti’s shareholders will be issued one equity share of Coforge for every five shares they hold in Cigniti.
The gas leakage at the CMS-1 plant of the GFL in Bharuch was caused by a valve that released toxic gas.
As a result of this incident, operations at the plant were temporarily disrupted.
JSW Energy: JSW Energy on Friday said its arm JSW Neo Energy Ltd (JSW Neo) will acquire a 4,696 MW renewable energy platform for an enterprise value of Rs 12,468 crore from O2 Power Pooling Pte Ltd (O2 Power).
The transaction entails the acquisition of O2 Power Midco Holdings Pte Ltd and O2 Energy SG Pte Ltd and is subject to approval by the Competition Commission of India (CCI) and other customary approval standards for a transaction of this size, a company statement said.
Hero MotoCorp: Hero MotoCorp said on Friday that it expanded its collaboration with iconic American brand Harley-Davidson to introduce new products.
As part of the deal, the partners will introduce new trims of Harley-Davidson X440 and develop an all-new bike.
The companies have inked a pact for the extension of existing collaboration to expand the X440 motorcycle model into new variants and develop a new motorcycle, the country's largest two-wheeler maker said in a regulatory filing.
Max Financial: According to news reports, Axis Max Life has decided to discontinue the operations of Max Life PFM as a pension fund manager. Axis Bank has decided this as the lender is already an established pension fund manager.
SJVN: SJVN's board of directors of the company in its meeting held on Friday, December 28, approved the appointment of Shri Sanjay Kumar as the Chief Financial Officer (CFO) of the company w.e.f. January 01, 2025.
Shri Sanjay Kumar shall also act as the Key Managerial Personnel (CFO) for compliance with Section 203 of the Companies Act, 2013.
IOL Chemicals and Pharmaceuticals: The company's board on Friday approved a stock split in the ratio of 1:5 to improve liquidity in the market. Each fully paid-up equity share with a face value of Rs 10 will be subdivided into five fully paid-up equity shares with a face value of Rs 2 each.
CAMS: Computer Age Management Services Limited (CAMS) has approved an additional investment of ₹8 crore by way of subscribing to the equity shares through a rights issue made by CAMS Financial Information Services Private Limited (“CAMS FIS”), a wholly owned subsidiary of the company. This investment will be made in one or more tranches.
Ola Electric: Ola Electric Mobility's Chief Marketing Officer (CMO), Anshul Khandelwal, and Chief Technology Officer (CTO), Suvonil Chatterjee, resigned with immediate effect on Friday, December 27.
UGRO Capital: The company informed stock exchanges that a meeting of the Investment and Borrowing Committee of the Board of Directors is scheduled to be held on Thursday, January 2, 2025, to consider and approve the raising of funds by way of the issuance of non-convertible debentures on a private placement basis.
Utkarsh Small Finance Bank: The bank's management committee of Utkarsh Small Finance Bank approved selling off its non-performing assets and written-off loans worth around ₹335 crore to an asset reconstruction company. The ARC will purchase the NPA and written-off loans from the lender at a bidding price of ₹52 crore.
Reliance Industries: Mukesh Ambani's Reliance Industries has acquired the technology-driven and oncology-focused healthcare platform Karkinos for ₹375 crore, the firm said on Saturday.
Reliance Strategic Business Ventures (RSBVL), a wholly owned subsidiary of Mumbai-listed India's most valuable company, completed the acquisition of Karkinos Healthcare Pvt Ltd with the allotment of requisite shares, the firm added.
New listings: Ventive Hospitality, Senores Pharmaceuticals, and Carraro India IPOs are slated to list on bourses today.
(With inputs from Reuters)
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