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  1. Stocks to watch on December 6: Garden Reach Shipbuilders, Nykaa, auto, financials, real estate, Canara Bank, Mishtann Foods, and more

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Stocks to watch on December 6: Garden Reach Shipbuilders, Nykaa, auto, financials, real estate, Canara Bank, Mishtann Foods, and more

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4 min read | Updated on December 06, 2024, 08:23 IST

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SUMMARY

Canara Bank on Thursday said it has got the Reserve Bank's approval for a proposal to divest the bank's stake in life insurance and mutual fund ventures.

Stock list

At 7:57 AM, the GIFT NIFTY futures were trading at 24,780.50, down 45 points, or 0.18%. 

At 7:57 AM, the GIFT NIFTY futures were trading at 24,780.50, down 45 points, or 0.18%. 

Stocks to Watch: The domestic equity market is expected to open on a flat note on Friday, December 6. At 7:57 AM, the GIFT NIFTY futures were trading at 24,780.50, down 45 points, or 0.18%. 

This suggests that the NIFTY50 index will open 16 points higher today. 

On the global front, Asian stocks slipped on Friday on political ructions in South Korea, while dollar bulls waited anxiously to see if US payrolls challenged or cemented expectations of a rate cut this month.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.3%, in part due to a 1.7% drop in South Korea's KOSPI. 

The Korean won fell 0.8% to 1,425.42 per dollar, tumbling towards the low of 1,443.4 hit on Tuesday after President Yoon Suk Yeol declared martial law in the country.

Here is a list of stocks that may remain in focus today.
FSN E-Commerce Ventures: FSN E-Commerce Ventures, Nykaa's parent firm, announced on Thursday that its chief executive officer (CEO), Nihir Parikh, has tendered his resignation due to personal commitments.

In a regulatory filing to the BSE and NSE, the company said Parikh’s resignation will come into effect at the close of business hours on December 5, 2024.

Auto, real estate, and financials: Rate-sensitive stocks will be in focus today as the Reserve Bank of India (RBI) announces its monetary policy.
Spandana Sphoorty: ICRA has revised its outlook on Spandana Sphoorty (SSFL) to negative from stable while reaffirming its rating at ICRA A+ (negative) for both long-term fund-based term loans (₹2,105 crore) and non-convertible debentures (₹423 crore).
Canara Bank: Canara Bank on Thursday said it has got the Reserve Bank's approval for a proposal to divest the bank's stake in life insurance and mutual fund ventures.

"The Reserve Bank of India, vide its letter dated 5th December 2024, has accorded approval to our bank for divesting its shareholding in Canara Robeco Asset Management Company Ltd and Canara HSBC Life Insurance Company Ltd by 13% and 14.5%, respectively, through an initial public offering (IPO)," Canara Bank said in a regulatory filing.

Mishtann Foods: Sebi on Thursday restrained five entities, including Mishtann Foods and its promoter and CMD Hiteshkumar Gaurishankar Patel, from the securities markets till further orders for alleged financial mismanagement, fraudulent transactions, and corporate governance lapses.

The regulator also barred Mishtann Foods Ltd (MFL) from raising money from the public and prohibited 12 entities, including Hiteshkumar, Navinchandra Patel (CFO), Ravikumar Patel (former CFO), and Jatinbhai Patel (former whole-time director), from associating themselves with any Sebi-registered entity, any listed company, or any firm that intends to raise money from the public until further orders.

Borosil Renewables: Shares will be in focus as the Ministry of Finance has imposed a provisional anti-dumping duty on imports of textured, tempered, coated, and uncoated glass from China and Vietnam. This duty will be effective for six months, starting from December 4.
Ramco Systems: The company said it has entered into a partnership with Hanjin Information Systems & Telecommunication Co., Ltd. (HIST), a leading ICT services company and a subsidiary of the Hanjin Group, Korea.

"This partnership leverages Ramco’s next-gen aviation maintenance software in collaboration with HIST’s expertise in IT consulting for the aviation industry. Together, both parties will enable the aviation organisations headquartered in Korea to transform their M&E and MRO operations digitally," the company said.

Ola Electric Mobility: The Central Consumer Protection Authority (CCPA) has sought additional documents and information from Ola Electric with regards to the show cause notice issued in October related to 10,644 complaints, according to a regulatory filing by the company on Thursday.
Waaree Energies: Waaree Energies said it has secured NABL accreditation for its cutting-edge PV Module Test Lab (PMTL).

"Located at Waaree’s state-of-the-art module manufacturing facility in Chikhli, Gujarat, this accreditation further strengthens the company’s deliverance to quality, innovation, and sustainability. This marks Waaree’s second NABL accreditation, following the first achieved for its Tumb manufacturing facility," the company added.

Garden Reach Shipbuilders & Engineers: The company has signed a contract for the construction and delivery of the second ship from the series of the four additional vessels, 7500 DWT Multi-Purpose Vessels (MPV), on 04 Dec 2024 at Hamburg, Germany. The contracts for the remaining two vessels will be communicated as and when the respective contracts are signed.
RITES: The company informed stock exchanges that it has been appointed as Project Management Consultant (PMC) for execution, supervision, monitoring & development of Phase II Campus of Indian Institute of Management Raipur (Chhattisgarh) project on a cost-plus basis from Indian Institute of Management Raipur (IIM Raipur). The cost of the order is ₹148.25 crore, excluding GST. 
(With inputs from Reuters)

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