Stocks To watch- Polycab, SpiceJet, JSW Steel, M&M, Bank of India, Phoenix Mills

Stocks To watch: Polycab, SpiceJet, JSW Steel, M&M, Bank of India, Phoenix Mills

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 10.50 points or 0.05% at 21,569.50 indicating a lacklustre opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 gained 73.85 points or 0.34% to settle at 21,618.70, while the BSE Sensex ended higher by 271,50 points or 0.38% to 71,657.71.

Stocks to Watch on January 11, 2024SpiceJet

SpiceJet’s Chairman and Managing Director have revealed ambitious plans for growth and network expansion, backed by a fund infusion of Rs 2,250 crore. The airline, holding exclusive rights for Lakshadweep, is set to launch flights to Agatti Island soon.

Polycab

The Income Tax Department has detected unaccounted cash sales of about Rs 1,000 crore in Polycab India following search and seizure operations against the company.

Jindal Steel and Power

The National Company Law Appellate Tribunal (NCLAT) dismisses Jindal Power’s plea to participate in the resolution process of the debt-ridden Tuticorin Coal Terminal.

JSW Steel

Satinder Singh Bajwa will head MG India’s operations. This is the first big ticket appointment after MG’s parent company, SAIC Motor and JSW Group announced a strategic joint venture. JSW now holds 35% in the Indian JV operations.

Kalyani Steels

Kalyani Steels emerges as the successful bidder to acquire assets of Kamineni Steel and Power India under liquidation, with a cash consideration of Rs 450 crore.

Nuvama Wealth

Nuvama Wealth Management forms a 50:50 joint venture with Cushman & Wakefield to provide investment opportunities in India’s commercial real estate market, aiming to raise Rs 3,000 crore.

Bank of India

Bank of India reports a 9.9% YoY increase in total global business, with global deposits up 8.7% YoY and global gross advances up 11.5% YoY.

Axiscades Technologies

Axiscades Technologies initiates a qualified institutional placement (QIP) to raise up to Rs 500 crore, setting the floor price at Rs 696.7 per share.

Mahindra and Mahindra’s

Mahindra and Mahindra witnessed a dilution of stake in Sustainable Energy Infra Trust to 10.5% from 15.7%, and Mahindra Susten’s stake was diluted to 15% from 73.9%.

Phoenix Mills

The Phoenix Mills reports gross retail collections at Rs 700 crore, up 30% YoY, and total consumption at Rs 3,287 crore, up 24% YoY.

CESC

CESC’s unit, Noida Power Company, receives an order from the Uttar Pradesh Electricity Regulatory Commission for the procurement of 95 MW RTC Power per annum for 5 years.

ATUL

ATUL’s arm begins operations at a 300 TPD caustic and 50 MW power plant.