Stocks to watch: The domestic equity market is expected to see a gap-down start to trading on Tuesday, December 31, the last trading session of 2024.
At 7:54 AM, the GIFT NIFTY futures were trading at 23,667.50, down 35.50 points, or 0.15%.
This implies that the NIFTY50 index will open 150 points lower.
Global stocks dropped for a third straight session on Monday as the recent bout of elevated US Treasury yields prompted profit-taking at the end of a strong year for equities.
On Wall Street, all three major US indexes closed with sharp losses in a broad selloff, with each of the 11 major S&P 500 sectors closing in negative territory, led by declines in consumer discretionary stocks.
Here is a list of stocks that may remain in focus today.
Mazagon Dock Shipbuilders: The defence ministry said on Monday it had signed a ₹1,990 crore ($233 million) contract with
Mazagon Dock Shipbuilders for technology that allows submarines to stay underwater for longer.
Unimech Aerospace: The shares are slated to be listed on the NSE and the BSE on Tuesday.
ITC Ltd: The hotels unit of the diversified conglomerate will receive ₹1,500 crore in cash and cash equivalents at the time of the demerger, the company said on the eve of the merger coming into effect on January 1, 2025.
ITC shareholders will get one share of ITC Hotels for every 10 shares they own in the parent. Shareholders should hold shares of ITC on a record date, i.e., January 6, to be eligible to get shares of the ITC Hotels.
Adani Enterprises, Adani Wilmar: Adani Group on Monday announced its exit from the FMCG joint venture Adani Wilmar by selling its entire stake to the Singaporean partner and in the open market for an estimated over $2 billion.
In a statement,
Adani Enterprises Ltd said it will sell a 31.06% stake to Wilmar International. Another 13% will be sold in the open market to meet minimum public shareholding requirements.
EaseMyTrip: EaseMyTrip's co-founder Nishant Pitti will sell his remaining stake in the company, 14%, for ₹780 crore on December 31, according to a report by Moneycontrol.
EaseMyTrip is the brand operated by the listed Easy Trip Planner.
Pitti is expected to sell 50 crore shares at ₹15.6 per unit.
Hindalco Industries: The company has secured Meenakshi Coal Mine allocation to boost resource securitisation and deliver a cost advantage.
The Meenakshi coal mine in Odisha is a fully explored block with a peak rated capacity (PRC) of 12 million tonnes per annum and nearly 285.23 million tonnes of geological reserves.
Shriram Properties: Shriram Properties on Monday announced the strategic sale of a nearly 3.9-acre land parcel in Chennai to a large healthcare and educational group in South India. Through its wholly owned subsidiary, SPL Shelters Private Limited, the company owned nearly 3.9 acres of land, currently approved for developing a retail space.
RVNL: Rail Vikas Nigam (RVNL) has emerged as the lowest bidder (L1) from Central Railway for the design, supply, erection, testing, and commissioning of the 132/55 KV traction substation, sectioning post (SPs), and sub-sectioning post (SSPs) in the 2 x 25 KV traction system (Scott Connected Transformer) of Bhusaval-Khandwa.
Sections of Central Railway, to meet the 3000 MT loading target on EPC mode.
The cost of the project is ₹137 crore.
Lupin: The pharma major on Monday announced the acquisition of Huminsulin in India from Eli Lilly and Company (Lilly) to enhance its diabetes portfolio further.
Lupin has been marketing the Huminsulin range of products, comprising Insulin Human, including Huminsulin R, Huminsulin NPH, Huminsulin 50/50, and Huminsulin 30/70, through existing distribution and promotion agreements with Lilly, India.
Prestige Estates Projects: The company's unit picked a 49% stake in WSI Falcon Infra Projects which is developing IT and IT-enabled services park on 6.53 acres of land situated at Porur, Chennai.
Vakrangee:
Vakrangee Limited announced a strategic corporate agency tie-up with Future Generali Insurance Company. This partnership aims to provide easy access to comprehensive general insurance products through the Vakrangee Kendra network across the country.
With Reuters inputs
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