Stocks to watch: Weak global cues suggest that the Indian equity market will open on a subdued to negative note on Monday, December 9.
Asian shares were dragged down by a slide in South Korea on Monday ahead of a packed week of central bank meetings.
Political tumult in France and South Korea was joined by the fall of Syrian President Bashar al-Assad's regime, which complicated an already fraught situation in the Middle East.
Still, the mood was generally upbeat after US November payrolls showed enough of a recovery to assuage concerns of a slowdown, but not so much as to forestall a rate cut from the Federal Reserve next week, said a Reuters report.
Back home, at 07:58 AM, the GIFT NIFTY futures were trading at 24,735.50, up 11.50 points, or 0.05%. This indicates that the NIFTY50 index will open 48 points lower.
Here is a list of stocks that may remain in focus today.
L&T: Shares of the infrastructure giant will be in focus as the Central Excise & Service Tax Appellate Tribunal (CSETAT) in Ahmedabad has allowed the appeal filed by L&T and set aside the entire customs demand of ₹702 crore.
L&T filed an appeal before CSETAT against the order passed by the Principal Commissioner of Customs, Ahmedabad.
M&M, InterGlobe Aviation:
Mahindra & Mahindra on Saturday said it has decided to rename its new electric vehicle brand as 'BE 6' but noted that it will continue to contest strongly in court with InterGlobe Aviation for the trademark 'BE 6e.'.
InterGlobe Aviation, which owns IndiGo Airlines, has taken the automaker to court over the usage of 6E in its new EV brand.
Welspun Corp: The company has announced the receipt of two additional large orders in the USA, one each for HSAW and HFIW pipes, for the supply of coated pipes for natural gas pipeline projects. With the addition of these two new orders, the value of the cumulative orders received by our USA plant to date in this Q3FY25 exceeds ₹7,000 crore.
Execution of these orders will be during FY25 & FY26.
Biocon: The company informed exchanges that it has received an establishment inspection report (EIR) with a voluntary action indicated (VAI) status from the US Food and Drug Administration (US FDA) for its API facility, located at SEZ Plot no. 2, 3, 4, and 5, Bommasandra-Jigani Link Road, Bengaluru, Karnataka.
This is based on a surveillance inspection conducted by the agency between September 23 and 27, 2024, the company added.
Uno Minda: The company said that its 4W Lighting Plant setup at Khed, Pune, Maharashtra, has started its commercial production, and the same shall be gradually ramped up going forward.
RITES: The company informed exchanges that RITES has emerged as the top scorer (H-1 bidder) based on QCBS evaluation for “Provision of Engineering Services for Design-Build-Finance: Upgrading of the Palmyra to Moleson Creek Highway—Lot 1-3” from the Ministry of Public Works, Government of the Co-operative Republic of Guyana.
The size of the order is $9,713,470, excluding taxes.
Bajaj Healthcare:
Bajaj Healthcare informed exchanges that the API manufacturing site in Savli, Vadodara, Gujarat, has received approval from the Therapeutic Goods Administration (TGA) of Australia.
Poonawalla Fincorp: Dhiraj Saxena, the chief technology officer (CTO) at Poonawalla Fincorp, quit the company on December 3, citing "harassment and unnecessary interventions" by the chief human resource officer of the firm.
One97 Communications: The company said its wholly owned subsidiary company, One97 Communications Singapore Private Limited (“Paytm Singapore”), has informed the company that its board of directors at its meeting held on December 6, 2024, has approved the sale of all its stock acquisition rights in PayPay Corporation, Japan, to the SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (equivalent to ₹2,364 crore). This transaction is expected to be completed in December 2024.
Godrej Consumer: In its business update, GCPL said that the surge in palm oil and derivatives prices to the extent of a y-o-y increase of 20-30% has impacted the soaps category, which represents nearly 1/3 of our standalone business revenue. To partly offset the cost increases, we have taken price increases, reduced the grammage of key packs, and reduced various trade schemes. Such pricing actions typically have minimal impact on category consumption but do result in reduced inventory across wholesale and household pantries.
Historical patterns indicate a normalisation in volume growth following price stabilisation, which we anticipate occurring in the next few months, it added.
Delta Corp:
Delta Corp Ltd, as per news reports, announced a revision to its previously approved scheme for the demerger of its hospitality and real estate businesses. The updated plan aims to ensure the financial and operational optimisation of the Dhargalim project, Goa, a key component of the company's growth strategy in the hospitality and real estate sector.
JSW Energy: The company said that JSW Neo Energy Limited, its wholly owned subsidiary, has received a letter of award from NTPC Limited for setting up a 400 MW solar power project against the tariff-based competitive bid invited for setting up 1,500 MW ISTS-connected solar Power Projects (NTPC-ISTS-III).
India Cements, UltraTech Cement: UltraTech Cement has received a notice from the fair trade regulator CCI over its proposed acquisition of the South-based India Cements Ltd. UltraTech Cement, in a regulatory filing, said it has received notice from the Competition Commission of India (CCI), and the Aditya Birla Group flagship firm is confident in the merits of its case.
CEAT: Tyre maker and RPG Group company CEAT on Friday said it has entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway tyres (OHT) and tracks business for about USD 225 million (about ₹1,905 crore).
The acquisition is significant for CEAT in its ambition to become a leading global player in the high-margin OHT segment, as it will give the company access to a global customer base, including over 40 international OEMs and premium international OHT distributors, the company said in a statement.
NLC India:
NLC India has been declared as the successful bidder by the Nominated Authority/Ministry of Coal (MoC) for the New Patrapara South Coal Mine in Odisha. The Coal Mine Development and Production Agreement (CMDPA) was signed between NLCIL and the Nominated Authority/MoC on December 5, 2024.
This is the third commercial coal mine.
(With inputs from Reuters)
