Stocks to watch on December 23: Zomato, auto, insurance stocks, UltraTech Cement, Vedanta, NTPC Green Energy, Fortis Healthcare, and more

At 8:01 AM, the GIFT NIFTY futures were trading at 23,804, up 22.50 points, or 0.09%.

This implies that the NIFTY50 index will open 178 points higher today.

On the global front, Asian shares rallied on Monday after a benign reading on US inflation restored some hope for further policy easing next year, while there was relief that Washington had averted a government shutdown.

Wall Street had rallied on Friday when a key gauge of core US inflation printed lower than expected at 0.11%, providing a partial antidote to the Fed's hawkishness earlier in the week.

Albemarle Corporation, a global specialty chemicals supplier that develops and sells catalysts used in the operation of oil refineries, allegedly "paid approximately USD 1.14 million in commission to an Indian intermediary company relating to Indian Oil Corporation business and obtained approximately USD 11.14 million in profits on that business between approximately 2009 and 2011," according to a US SEC order dated September 28, 2023.

Vedanta, led by Anil Agarwal, had launched a sweeping overhaul to carve itself into six separate businesses last year, in a move aimed at shoring up the group’s financial performance.

HCC, in a statement, said this has allowed for SAG subsidiary Steiner Development AG (SDAG) to start afresh as a direct subsidiary of m3 Immobilier, with aspirations to launch a Swiss IPO while also helping HCC realise earnout liquidity of up to ₹205 crore from SDAG's future success.

Earlier this month, the Reserve Bank of India (RBI) also gave its approval to the offer by the promoter family of Dabur.

"The proposed combination envisages UltraTech Cement Ltd's (UltraTech/acquirer) acquisition of 32.72% of the paid-up equity share capital of India Cements Ltd (India Cements/target) from the promoters and members of the promoter group of India Cements and Sri Saradha Logistics Pvt Ltd," CCI said in a release.

This is part of the latest reconstitution announced by Asia Index Private Ltd, a subsidiary of BSE.

However, a handholding of the state government will be essential from planning to implementation of the future project, he said, addressing the 'Bihar Business Connect 2024' summit here.

The GST Council decided to levy an 18% GST on margin value on the sale of used electric vehicles by businesses and agreed to keep jet fuel (ATF) out of the 'one-nation-one-tax' regime.

Besides, the panel deferred a decision on reducing the rate of tax on insurance premiums, pending comments from the sector regulator.

A group of ministers examining the issue had recommended exempting insurance premiums paid for term life insurance policies from GST and premiums paid by senior citizens for health insurance cover.

HAGI is a US-based healthcare company incorporated on December 21, 2023, as a Delaware corporation. It specialises in designing technology-driven solutions for the underserved in the United States, India, and the rest of the world. HAGI operates at the intersection of healthcare, information technology, and innovation.

The MoU outlines a framework for significant investments in Bihar to establish renewable energy projects, including:

• Ground-mounted and floating solar installations,

• Battery energy storage systems, and

• Green hydrogen mobility initiatives, etc.

• The Government of Bihar will facilitate the necessary permissions, registrations, approvals, and clearances from concerned departments, agencies, and authorities to support the projects.

The company also announced the availing of board approval to acquire a stake in Crystal HR and Security Solutions Private Limited (“Crystal HR”).

These transactions are conditional to the fulfillment of customary closing conditions and other statutory approvals.

The company received an order for the design, engineering, procurement, and construction of the Balance of System (BOS) for a 500 MW (AC) solar PV project on an EPC basis.

In addition to EPC with single-point responsibility, it will also include comprehensive O&M for three years.