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Stocks to watch on Tuesday, December 26: At 7:54 am, GIFT Nifty traded 35.45 points, or 0.17 per cent higher, at 21,420.5, indicating a positive start for domestic equities on the first trading session of the last week of CY 2023.
The Indian stock market remained closed on Monday, December 25, due to Christmas. On Friday, December 22, the benchmark indices, Sensex and Nifty 50 extended gains for a second day following buying in IT stocks and firm trends in the US markets.
The 30-share BSE Sensex climbed 241.86 points or 0.34 per cent to settle at 71,106.96. The Nifty 50 went up by 94.35 points or 0.44 per cent to 21,349.40.
Here are some stocks that will be in focus on Tuesday, December 26:
Reliance Industries: Reuters reported that Reliance Industries and Walt Disney have signed a non-binding term sheet to merge their Indian media operations, citing unnamed sources.
Tata Steel: The steel maker announced a shareholders’ meeting on January 25, 2024, to consider a merger with the Indian Steel and Wire products.
State Bank of India (SBI): The public sector lender concluded the issuance of $250 million senior unsecured green floating rate notes.
Vedanta: Bharat Aluminium Company Limited, the company’s subsidiary, received a Goods and Services Tax (GST) demand notice worth Rs 84,70,09,977 for FY 2017-18 on account of various interpretational issues. As per the filing, Vedanta and Bharat Aluminium Company are not expected to have any material financial impact.
Infosys: The IT firm terminated its AI deal with Global Company worth $150 million (Rs 12,450 crore). The memorandum of understanding (MOU) was signed in September.
Jindal Steel & Power: The company entered into an MoU with Rashtriya Ispat Nigam Limited (RINL) for the operationalisation of RINL’s Blast Furnace-3 (BF-3). The furnace, set to be lit up on December 30, 2023, will boost production by 2 lakh tonnes of Hot Metal per month.
Cipla: The company received an order from the GST Authority imposing a penalty of over Rs 11 crore.
Aurobindo Pharma: The United States Food and Drug Administration (US FDA) conducted a pre-approval inspection (PAI) at the new injectable facility of Eugia US Manufacturing LLC (a step-down wholly owned subsidiary of Aurobindo Pharma Ltd.), situated in the USA from December 11 to December 22, 2023. The inspection closed with 10 observations. As per the filing, the company will file the necessary appeal with the appellate authority in this regard.
Siemens: Promoter Siemens Energy Holding BV sold 1.78 crore shares, which translates to 5 per cent shares, to subsidiary Siemens Energy Holdco BV.
Bajaj Holdings & Investment: The company bought a 0.0066 per cent stake in Nestle India for Rs 16.01 crore.
Religare Enterprises: Religare Finvest Limited (RFL), a subsidiary of Religare Enterprises Limited has commissioned an investigation into the siphoning-off of funds from RFL by the erstwhile promoters of the company.
Divi’s Laboratories: The company received a notice from Deputy Commissioner Central Tax, Gachibowli CGST Division, Hyderabad, of Rs 19.34 lakh on December 23. The Order pertains to the alleged CGST- GST -irregular carry forward of the input tax credit on ISD in Form GST TRAN-I filed.
Grindwell Norton: The abrasives and silicon maker’s board has approved the investment in VEH Wind Energy toward sourcing green power. The company also got a nod to invest in Advanced Synthetic Minerals.
Biocon: Biocon Biologics, a subsidiary of Biocon partnered with Sandoz for the distribution of Adalimumab BS Subcutaneous injection, and got exclusive rights to promote, sell and distribute Adalimumab BS in Japan.
Zydus Lifesciences: The US Foods and Drugs Administration (USFDA) inspected the API site situated in Ahmedabad. The inspection closed with six observations.
BEL: Bharat Electronics Limited (BEL) has received orders worth Rs 2,673 crores for the supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels, the Navratna Defence PSU said on Friday.
(With inputs from agencies)
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