Stocks to Watch: The domestic equity market is expected to open flat with a negative bias on Wednesday, December 4. At 7:59 AM, the GIFT NIFTY futures were trading at 24,533.50, up 33.50 points, or 0.14%.
On the global front, Asian equities stumbled on Wednesday, while currencies were volatile. Investor sentiment took a major hit with the political storm in South Korea, where martial law was imposed and subsequently lifted hours later.
The benchmark KOSPI index was down nearly 2%, bringing its year-to-date losses to over 7% and making it the worst-performing major stock market in Asia this year.
On Wall Street, the S&P 500 and Nasdaq managed record closing highs on Tuesday, with tech-related shares extending recent gains as investors awaited further jobs data.
The Dow finished slightly lower on the day.
Here is a list of stocks that may remain in focus today.
PB Fintech:
PB Fintech, the parent company of Policybazaar, will be in focus today as the company, in its filing to exchanges, stated that its board has approved the incorporation of the wholly owned subsidiary with the proposed name “PB Healthcare Private Limited” or “PB Healthcare Services Private Limited” or any other name as may be approved by the Ministry of Corporate Affairs to carry on the business of healthcare services.
Reliance Power: On Tuesday, Solar Energy Corporation of India (SECI) said it has withdrawn the debarment notice issued to
Reliance Power, enabling the Anil Ambani-led firm to participate in future tenders of the public sector entity. SECI, which serves as the implementing agency for renewable energy projects, had on November 6 debarred Reliance Power Ltd and Reliance NU BESS Ltd from participating in any of its tenders for three years for allegedly submitting "fake documents.".
Wipro: Wipro on Tuesday announced a partnership with Netskope, a secure access service edge (SASE) leader, to provide global enterprises with an integrated service that optimises and improves cybersecurity outcomes for people, processes, and technology investments.
"Wipro’s CyberTransformSM Optimization Service, powered by Netskope, analyzes organizations’ current cybersecurity and infrastructure investments, provides consolidation guidelines, and delivers cost-optimized methods resulting in improved business performance," it said.
RVNL:
Rail Vikas Nigam Limited (RVNL) has received a letter of acceptance from East Central Railway for “Design, Supply, Erection, Testing & Commissioning of Traction Sub Stations with associated Switching Posts for upgradation work of electric traction system from 1X25 to 2X25 KV AT feeding system in Gomoh-Patratu Section of Dhanbad Division of East Central Railway.”
The cost of the work is ₹186.76 crore.
IEX: Indian Energy Exchange (IEX), in its monthly update, achieved an electricity traded volume of 9,689 MU in November 2024, marking a 15.7% year-on-year increase. During the month, IEX traded 5.46 lakh renewable energy certificates, recording a 27.7% year-on-year decrease.
Honasa Consumer: Varun Alagh, co-founder and chief executive officer of Honasa Consumer, the parent company of Mamaearth, has acquired over 160,000 shares in the company. According to news reports, the additional shares acquired by Alagh are worth ₹4.26 crore, while his total shares are valued at ₹2,722 crore (approximately $324 million) as of December 3.
ONGC: The PSU, in its filing to exchanges, said that the company has been allotted 490,62,03,065 numbers of equity shares of ₹10 each by OPaL by way of subscription of shares on the right basis. Upon the said allotment, the shareholding of the company in OPaL has increased from 94.57% to 95.69%.
OPaL is an acronym for ONGC Petro Additions Limited. It is a subsidiary of the company with an equity shareholding of 94.57%.
HG Infra:
HG Infra Engineering incorporated a wholly owned subsidiary company named “H.G. Banaskantha Bess Private Limited” on December 03, 2024.
Swiggy: Food and grocery delivery platform
Swiggy on Tuesday reported a narrowing of loss at ₹625.53 crore on a consolidated basis in the second quarter ended September, down from ₹657 crore logged in the year-ago period.
The company declared its quarterly results to the stock exchanges for the first time since it went public last month.
In a regulatory filing, Swiggy announced that its board has approved an investment in the equity shares of its wholly owned subsidiary Scootsy Logistics, up to an amount not exceeding ₹1,600 crore in one or more tranches, by way of subscription to the rights issue.
(With inputs from Reuters)
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