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  1. Stocks to watch on November 26: Power Grid, BHEL, HUL, HDFC Life, Zomato, Vi, Adani Energy, Adani Ports, and more

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Stocks to watch on November 26: Power Grid, BHEL, HUL, HDFC Life, Zomato, Vi, Adani Energy, Adani Ports, and more

Upstox

5 min read | Updated on November 26, 2024, 08:18 IST

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SUMMARY

State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Monday said it has secured an order from Power Grid Corporation for the Khavda Nagpur HVDC (high-voltage direct current transmission) project along with Hitachi Energy India. Power Grid Corporation of India, on behalf of its Project SPV (special purpose vehicle) company, awarded the order.

At 7:56 AM, the GIFT NIFTY futures were trading at 24,280.50 levels, down 73 points, or 0.30%. 

At 7:56 AM, the GIFT NIFTY futures were trading at 24,280.50 levels, down 73 points, or 0.30%. 

Stocks to Watch: The domestic equity market is expected to open flat on Tuesday, November 26. At 7:56 AM, the GIFT NIFTY futures were trading at 24,280.50 levels, down 73 points, or 0.30%. 

This suggests that the NIFTY50 index will open 7 points higher.

On the global front, the dollar rallied against major peers on Tuesday after US President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico and additional tariffs on China.

Stocks declined, giving back some of the robust gains of the previous session when they were buoyed by the nomination of fund manager Scott Bessent as Treasury Secretary, considered by investors as a voice for Wall Street in Washington.

In commodities, oil prices slipped in early trade on Tuesday, extending declines from the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil's risk premium.

Here is a list of stocks that may remain in focus today
Power Grid, BHEL, Hitachi Energy: State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Monday said it has secured an order from Power Grid Corporation for the Khavda Nagpur HVDC (high-voltage direct current transmission) project along with Hitachi Energy India.

Power Grid Corporation of India, on behalf of its Project SPV (special purpose vehicle) company, awarded the order.

According to the filing, the order is to design and execute the 800 kV, 6,000 MW, 1,200 km High-Voltage Direct Current (HVDC) terminal stations to evacuate renewable energy from Khavda in Gujarat to Nagpur in Maharashtra.

The order will be executed by 2029.

Vedanta: On Monday, Vedanta Resources Ltd. (VRL) launched two sets of bonds to raise up to $1.25 billion split across a 3.5-year term at 10.25% and another with a 7-year term at 11.25%. The funds will be used to refinance the company's outstanding 13.875% bonds maturing in 2028, The Economic Times reported.
HDFC Life: HDFC Life Insurance on Monday said there have been some instances of data leaks and is assessing the potential impact of this breach.

"We have received communication from an unknown source, who has shared certain data fields of our customers with us, with mala fide intent," HDFC Life said in a regulatory filing.

HUL: FMCG major Hindustan Unilever Ltd (HUL) on Monday, November 25, said its board has approved the demerger of the ice cream business, which owns brands such as Kwality Wall's, Cornetto, and Magnum, into an independent listed entity.

The existing shareholders of the FMCG major will receive shares in the new entity in proportion to their shareholding in HUL, according to a company statement.

Zomato: The food delivery aggregator opened its ₹8,500 qualified institution placement (QIP) offering on Monday, with a floor price set at ₹265.91 per equity share.

The indicative price has been set at ₹252.62 apiece, a 7.6% discount to Tuesday's closing price of ₹272.9. 

A total of 3.8% equity, or 33.65 crore shares, are on offer, as per a report by CNBC-TV18. 

KEI Industries: As per news reports, KEI Industries has launched QIP to raise ₹2,000 crore. The indicative price issue is at ₹3,800 per share, which is a 5.5% discount to the last traded price. 
Vodafone Idea: As per news reports, the Union Cabinet has approved the waiving of bank guarantees for telecom operators on spectrum purchased before 2022. 

The move has come as a relief to Vodafone Idea, which owes the government over ₹24,700 crore on bank guarantees (BG), Moneycontrol reported, citing sources.

GE Vernova: Grid Equipments, the promoter of GE Vernova T&D India, on Monday said it will divest up to 8.38% of its holding in the company through an offer for sale (OFS) mechanism.

The proposed OFS will open on Tuesday and conclude on Wednesday. The sale will involve a base offer of 1.4 crore equity shares (5.47% of paid-up equity) with an option to oversubscribe by an additional 74.51 lakh shares (a 2.91% stake), collectively amounting to 2.14 crore shares, amounting to an 8.38% stake with a face value of ₹2 each.

Adani Energy, Adani Ports: Ratings agency Fitch has put some of Adani Group's bonds on watch for a possible downgrade after some of the firm's key executives were indicted by US authorities on bribery charges.

Adani Energy Solutions Ltd, Adani Electricity Mumbai, and some of Adani Ports and Special Economic Zone rupee and dollar bonds are now on "watch negative," Fitch said.

LT Foods: LT Foods, a leading player in the basmati and specialty rice segment, on Monday, said it has entered Saudi Arabia with an aim to tap a USD 2 billion rice and rice-based food market.

With the Saudi Agricultural and Livestock Investment Company (SALIC) as a strategic shareholder, LT Foods is also gearing up to set up local manufacturing facilities in the Kingdom, a company statement said.

(With inputs from Reuters, PTI)

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