Stocks to Watch: The domestic equity market is expected to open on a flat note on Tuesday, December 3. At 7:54 AM, the GIFT NIFTY futures were trading at 24,435 levels, up 15.50 points, or 0.06%.
This suggests that the NIFTY50 index will open 6 points higher.
On Wall Street, the Nasdaq and S&P 500 scored record closing highs on Monday, boosted by tech-related shares following the market's strong November gains, as investors awaited this week's economic data, including the key monthly jobs report on Friday.
The Dow finished lower on the day. Both the Dow and S&P 500 recorded on Friday their biggest monthly percentage gains in a year.
Here is a list of stocks that may remain in focus today.
ITC, VST Industries: Shares of the companies will be in focus as, according to news reports, the Group of Ministers (GoM) set up by the GST Council has proposed a new "special rate" of 35% for tobacco and aerated beverages.
At present, all types of tobacco products attract a GST rate of 28%, except for tobacco leaves, which are taxed at 5% under the reverse charge mechanism. This means the recipient, rather than the supplier, is responsible for remitting the GST to the government.
Pricol, TVS Motor Company:
Pricol, the automotive components maker, on Monday, December 2, said it would acquire Sundaram Auto Components' injection moulding business for ₹215 crore via its wholly owned subsidiary, Pricol Precision Products Pvt Ltd.
Swiggy: Shares of Swiggy will be closely tracked as the company is slated to announce its September quarter results today. Swiggy shares were listed on the stock exchanges on November 13. The stock debuted on the NSE at ₹420 apiece (a premium of 7.69%) over the issue price of ₹390. It had hit its all-time high of ₹517 on November 28.
The scrip is currently up 28.4% from the issue price.
Bajaj Finserv: According to a news report by NDTV Profit, Bajaj Finserv has ended a co-branded card partnership with DBS Bank India. The move comes as the non-bank lender seeks to end co-branded credit card partnerships.
Torrent Power: Torrent Power on Monday announced the opening of equities on a qualified institutional placement (QIP) basis at a floor price of ₹1,555.75 apiece as part of its plan to raise up to ₹5,000 crore in one or more tranches.
The company did neither disclose the number of shares to be issued nor the total issue size.
However, there are speculations that the issue size is expected to range between ₹3,500 crore and ₹5,000 crore.
Nazara Tech: Gaming and sports media firm Nazara Technologies' board has approved five investments worth ₹196 crore, including a 100% acquisition of a stake in Sportskeeda owner firm Absolute Sports.
Of the total ₹196 crore, Nazara will invest ₹148 crore in existing subsidiaries, including Sportskeeda, Nodwin Gaming, and Datawrkz, to increase its ownership in them and support their growth.
Protean e-Gov Technologies: Protean eGov Technologies has received and acknowledged a work order from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) (a Government of India Undertaking) for providing services as a system integrator for design, development, implementation, and operations & maintenance of Central KYC Records Registry (CKYCRR 2.0) for the amount of ₹161 crore (approx.)
HUL: Hindustan Unilever Ltd (HUL) said on December 2 that it has adhered to an order from the income tax assessing officer, settling ₹192.55 crore—20% of the total ₹962.75 crore demand.
The dispute, as per news reports, centers on a tax deduction at source (TDS) issue linked to a ₹3,045 crore payment made for the acquisition of intellectual property rights for India HFD from entities within the GlaxoSmithKline (GSK) Group.
Mazagon Dock: The PSU said that the company has fixed Friday, December 27, 2024, as the record date for the purpose of determining the eligibility of shareholders for the sub-division/split of the existing equity share of face value of ₹10, each fully paid up into two equity shares of face value of ₹5 each, fully paid up.
Solar Industries: The company and its subsidiary have received export orders worth ₹2,039 crore for the supply of defence products, to be delivered over a period of four years.
Godavari Biorefineries: The company announced the signing of a strategic international license agreement with Catalyxx Inc. "This partnership grants GBL exclusive rights to leverage Catalyxx’s cutting-edge technology for the conversion of ethanol to up to 30,000 tons of biobutanol and other higher alcohols in India and selling globally," it added.
KPI Green Energy: The company has received the largest-ever order for the setting up of a 300 MWAC ground-mounted solar PV plant, including operation and maintenance services on a comprehensive basis for a period of five years from Coal India. The contract price for the project is ₹1,311 crore.
HCL Technologies:
HCL Technologies announced a collaboration with Google Cloud Security to provide AI-driven Managed Detection and Response (MDR) solutions to empower enterprises with comprehensive security coverage to respond to cyber threats.
Coal India: Coal India Limited (CIL), a Maharatna PSU under the Ministry of Coal, Government of India, and Bharat Petroleum Corporation Limited (BPCL), a Maharatna PSU under the Ministry of Petroleum & Natural Gas, Government of India, have executed a non-binding memorandum of understanding (MoU) on December 2, 2024, in Mumbai to explore the setting up of a coal-to-synthetic-natural-gas project at WCL through surface coal gasification.
Pearl Global Industries: The company said it will acquire an additional 20% stake from minority shareholders in PT Pinnacle Apparels for $2.5 million, increasing its holding to 69.9% through its arm, DSSP Global.
Godrej Properties: The real estate company said that it has raised ₹6,000 crore through the QIP route.
(With inputs from Reuters)
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