Stocks To Watch on November 29: GIFT Nifty on the NSE IX traded 24 points, or 0.12 per cent, higher at 20,151.5, signaling that Dalal Street was headed for positive start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons.
Indian Renewable Energy Development Agency (IREDA): Grey Market Premium (GMP) a likely 30 per cent listing gain for the stock as it makes its debut today. The miniratna Rs 2,150 crore IPO had received a strong response from investors.
Tata Power: Tata Power’s renewable energy arm gets a letter of award for development for a 200 MW firm and dispatchable renewable energy project with SJVN.
Wipro: Wipro launches a continuous compliance solution built on Amazon Security Lake in collaboration with Amazon Web Services.
Zomato: Alipay Singapore Holding plans to sell its entire 3.44 per cent stake in the company on Wednesday through block deals at a floor price of Rs 111.28 per share.
Siemens: Net profit for the quarter ended September 2023, declined 12.4 per cent year-o-year (YoY) to Rs 571 crore on a consolidated level. Revenue from operations, however, grew 25.3 per cent YoY to Rs 5,721 crore.
IT: India’s information technology (IT) spending is anticipated to reach $124.6 billion in 2024, reflecting a 10.7 per cent increase from 2023, according to the latest forecast by Gartner. This follows a period of flat growth (minus 0.5 per cent) in 2023.
Jubilant Foodworks: The company’s Netherland-based arm has completed acquisition of additional stake in DP Eurasia N.V for a consideration of GBP 3.3 million, thereby increasing its stake from 48.84 per cent to 51.50 per cent.
Canara Bank: Plans to transfer its credit card business and other digital product portfolio to its unlisted subsidiary, Canbank Computer Services (CCSL). Canara Bank holds 69.14 per cent stake in CCSL, while the remaining is held by Bank of Baroda and DBS India. The bank plans to buy out the shares of the other two stakeholders in CCSL.
Indian Oil Corporation (IOC): The PSU major has cornered more than a third of natural gas that Reliance Industries and its partner bp offered in the latest auction of the KG-D6 gas, sources said.
PCBL: The company’s board has approved the acquisition of Pune-based specialty chemicals company, Aquapharm Chemicals for a consideration of Rs 3,800 crore.
Havells India: Announced the launch of its consumer durable brand ‘Lloyd’ in the Middle East market.
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Source: News18