Stocks To watch- Adani Ports, Power Fin Corp, Vedanta, MRF, Maruti Suzuki, Indian Energy Exchange, Religare Enterprises

Stocks To watch: Adani Ports, Power Fin Corp, Vedanta, MRF, Maruti Suzuki, Indian Energy Exchange, Religare Enterprises

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 23 points or 0.11% at 21,603, indicating positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 dropped 148.45 points or 0.69% to settle at 21,517.35, while the BSE Sensex ended lower by 535.88 points or 0.75% to 71,356.60.

Stocks to Watch on January 04, 2024Adani Ports and SEZ

Adani Ports and Special Economic Zone has greenlit a fund infusion of Rs 5,000 crores through non-convertible debentures. Additionally, notable leadership changes are underway, with Gautam Adani being redesignated as the executive chairman, Karan Adani as managing director, and Ashwani Gupta appointed as CEO, effective from Jan. 4.

Vedanta

Vedanta reveals a 6% YoY surge in aluminum output at 599 KT, a 4% YoY dip in refined zinc output at 203 KT, and a 15% YoY decline in oil & gas average gross operated output at 1,23,413 boe/day. Financially, the company successfully raises Rs 3,400 crores through a private placement of Non-Convertible Debentures (NCDs). Vedanta Resources also secures support from bondholders for its proposed restructuring of four series of bonds.

Religare Enterprises

The Burman family calls for an investigation into the allotment of shares of Religare Finvest to Rashmi Saluja through employee stock ownership plans.

RVNL

Company signs MOU with REC, to finance multi-modal infrastructure projects upto Rs 35,000 crore over the five years.

Telecom Companies

Bharti Airtel witnesses a drop in net subscriber additions for October, totaling 3.52 lakh. In contrast, Reliance Jio adds 31.59 lakh wireless subscribers, while Vodafone Idea experiences a loss of 20.44 lakh wireless subscribers.

Power Finance Corp

Power Finance Corp enters into a Memorandum of Understanding (MoU) with the Gujarat Government for projects amounting to Rs 25,000 crore.

Maruti Suzuki India

Maruti Suzuki India’s unit faces an adjudication order from the Gujarat GST Authority, upholding a Rs 174 crore GST demand. The unit intends to appeal this order to the first appellate authority.

MRF

MRF announces plans to acquire a 27.2% stake in First Energy 8 for Rs 35.8 crore, enhancing its renewable power supply sources.

KPI Green Energy

KPI Green Energy, along with its unit KPIG Energia, secures new orders of 2.10 MW for executing solar power projects from Radhey Krishna Terene and Jay Metal Tech.

Indian Energy Exchange

Indian Energy Exchange posts robust performance metrics, recording Q3 overall volume at 28,326 MU, up 16.9% YoY. In December, the overall volume reaches 9,707 MU, marking a 14.9% YoY increase. The total electricity volume for December stands at 8,655 MU, reflecting an 8.7% YoY growth.

IndusInd Bank

IndusInd Bank reports significant financial figures, with deposits reaching Rs 3.68 lakh crore as of Dec. 31, showcasing a 13% YoY increase. Net advances stand at Rs 3.26 lakh crore, up 20% YoY, and the bank’s CASA ratio is recorded at 38.5%, compared to 42% YoY.