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Stocks to watch: Shares of firms like Vedanta, Maruti Suzuki, HDFC Bank, HCL Tech, RVNL, Zomato, and others will be in focus on Monday’s trade
Stocks To Watch
Stocks to Watch on November 25, 2024: After a strong rebound on Friday, with domestic markets gaining over 2% following a recent decline, several stocks are expected to be in focus today due to various developments:
Vedanta: The Mumbai bench of the NCLT has instructed Vedanta to hold meetings with its secured and unsecured creditors and shareholders within 90 days to discuss the proposed demerger. Chairman Anil Agarwal previously stated that the demerger, involving over 15 commodities, would transition the company from asset managers to asset owners.
Maruti Suzuki: In collaboration with gas distribution companies, Maruti Suzuki plans to boost CNG car sales in the top 10 markets, according to MSIL’s senior marketing and sales executive, Partho Banerjee.
HDFC Bank: The private lender has securitized new car loans worth over Rs 12,700 crore through pass-through certificates (PTCs), which is expected to generate liquidity.
PVR Inox: PVR Inox plans to expand its screen portfolio to 2,000 by 2026, with a focus on Tier II and III cities in southern India. As of Q3FY25, the company operates 1,747 screens across 356 cinemas in 111 cities in India and Sri Lanka.
HCL Tech: Sebi has exempted Roshni Nadar, Chairperson of HCL Tech, from making an open offer related to her proposed indirect acquisition of shares and voting rights in the company.
RVNL: RVNL has received a Letter of Acceptance (LoA) from Eastern Railway for an infrastructure project involving earthwork, bridge construction, and track laying.
Hero MotoCorp: In partnership with US-based Zero Motorcycles, Hero MotoCorp is in advanced stages of developing a mid-sized performance electric motorcycle, according to a senior executive. The companies announced their collaboration for premium electric bike development in 2023.
Reliance Industries (RIL): JP Morgan reports that while one of RIL’s underperformance drivers—weak refining margins—has reversed, the other, poor retail growth, remains difficult to forecast.
Zomato: Zomato will be added to the BSE Sensex, replacing JSW Steel from December 23, following a reconstitution by Asia Index Private Ltd, a BSE subsidiary.
Solar Power Companies: The Indian solar industry faces uncertainty after charges were filed against Adani Group and NYSE-listed Azure Power. The Solar Energy Corporation of India’s (SECI) 12GW manufacturing-linked solar auction is amid the turmoil, and the sector is bracing for potential backlash.
Zee Entertainment: CEO Punit Goenka, who resigned as Managing Director last week, has also withdrawn from consideration for reappointment during the upcoming annual general meeting (AGM), according to an exchange filing.
Patanjali Foods: Patanjali Ayurved, led by Baba Ramdev, reported a 23.15% rise in total income to Rs 9,335.32 crore for FY24. Its other income surged to Rs 2,875.29 crore from Rs 46.18 crore in FY23.
Bank of India: The public sector lender plans to raise Rs 5,000 crore through 10-year infrastructure bonds this week, according to reports.
Realty Stocks: In Q3FY24, 26 major listed real estate firms in India sold properties worth approximately Rs 35,000 crore. Godrej Properties led with the highest sales bookings.
Signature Global: The company plans to launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years, aiming to capitalize on strong consumer demand.
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