Stocks to watch- Grasim Industries, DR

Stocks to watch: Grasim Industries, DR. Reddy’s Lab, ACC, Aditya Birla Capital, Torrent Power

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

Stocks in Focus: GIFT Nifty traded down by 36 points or 0.16% at 21,812.50, indicating negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 dropped 47.30 points or 0.22% to settle at 21,731.40, while the BSE Sensex ended lower by 170.13 points or 0.23% to 72,240.26.

Stocks to Watch on January 01, 2024Grasim Industries

Grasim Industries has augmented its annual advanced materials capacity by an additional 1.23 lakh tons at the Bharuch plant in Gujarat. With a total capacity of 2,46,000 tons per annum.

Dr. Reddy’s Laboratories

The global arm of Dr. Reddy’s Laboratories has acquired a 6.46% stake in the Israel-based biotechnology company Edity Therapeutics at $1.97 per share.

Aditya Birla Capital

Aditya Birla Capital has extended the completion timeline for the sale of a 50% stake in Aditya Birla Insurance Brokers until March 31, 2024. This extension is subject to approval from the Insurance Regulatory and Development Authority of India.

ACC

ACC has successfully commissioned a new cement manufacturing unit with a capacity of 1.0 MTPA at Ametha, Madhya Pradesh, reinforcing its position in the cement industry.

Hikal

The Gujarat Pollution Control Board has imposed a fine of Rs 17.45 crore on Hikal for alleged violations of environmental laws.

Torrent Power

Torrent Power has established a wholly-owned subsidiary dedicated to generating electricity from renewable sources in Gujarat, aligning with the company’s commitment to sustainable energy practices.

Edelweiss Financial Services

Edelweiss Financial Services unit, Zuno General Insurance, has received a GST demand amounting to Rs 32.39 crore along with penal interest of Rs 3.23 crore.

SKF

SKF India has successfully acquired a 26.74% stake in Sun Strength Renewables for Rs 2.31 crore, strengthening its presence in the renewable energy sector.

Nazara Technologies

Nazara Technologies’ subsidiary has signed agreements to subscribe to a convertible note of Freaks 4U Gaming GmbH at a consideration of Rs 33.26 crore, to be paid in cash.

Oil India

Oil India has appointed Anfor Ali Haque as the resident chief executive, effective from January 1, signaling a key leadership change in the company.

Auto Stocks

Eicher Motors, Tata Motors, Here MotoCorp, Bajaj Auto, TVS Motors and other auto stocks to remain in focus as monthly sales numbers to be announced today.