Reliance Industries, Cipla, Eicher Motors, Tata Power, HG Infra Engineering stocks in focus

Reliance Industries, Cipla, Eicher Motors, Tata Power, HG Infra Engineering stocks in focus

Indian benchmark indices are likely to open in the green today as hinted by the SGX Nifty which is 0.3% higher at 18,340. Nifty Futures gained 60 points on the Singaporean exchange. In the previous session, NSE Nifty recovered 200 points from its intraday low and closed at 18,191, while BSE Sensex gained 0.3% to settle at 61,133. From dropping over 0.5% intraday. “The domestic market trend was influenced by the movements of its global counterparts, as a negative US closing pushed Indian bourses to a poor start. However, positive signals from US futures lifted the benchmark index above the flatline. Markets will continue to witness such sudden movements, underpinned by lingering recession and COVID fears, which will be countered by bargain hunters,” said Vinod Nair, Head of Research, Geojit Financial.Stocks in focus on 30 December, Friday

Reliance Industries: Reliance Consumer Products (RCPL), the FMCG arm of Reliance Retail Ventures (RRVL), will acquire 51% stake in Lotus Chocolate for Rs 74 crore. RCPL will also make an open offer to public shareholders of Lotus to acquire up to 26% stake.

Eicher Motors: The parent company of Royal Enfield, Eicher Motors, announced a strategic investment with Spain-based Stark Future SL to collaborate in the electric mobility space. Eicher Motors invested Rs 441 crore for 10.35% equity stake in Stark Future.

Tata Power: Through the issue of non-convertible debentures on a private placement basis, Tata Power has raised Rs 1,000 crore. Series I NCDs worth Rs 500 crore are expected to mature on January 8, 2030, while Rs 500 crore of Series II NCDs are expected to mature on December 29, 2032.

HG Infra Engineering: The firm recently announced they received a “letter of award” for a new project from the National Highways Authority of India (NHAI). HG Infra will construct a 6-lane greenfield Karnal ring road under Bharatmala Pariyojana in Haryana within 730 days and the bid project cost is Rs 997.11 crore.