Stocks in Focus on December 24: Vedanta, Ambuja Cement, Dish TV, Hotel Stocks to MSTC; here are the 5 Newsmakers of the Day

Key domestic indices ended with strong gains on Wednesday, December 23, 2020, supported by buying in IT and pharma stocks. The BSE Sensex rallied 437.49 points or 0.95 per cent to 46,444.18. The Nifty 50 index added 134.8 points or 1 per cent to 13,601.10. But certain stocks came in news after the market was closed. These stocks can impact the indices when it reopens on Thursday, December 24, 2020. List of such five stocks:

Vedanta: Promoters of Vedanta Limited has plans to buy 18.5 crore equity shares (4.98 per cent stakes) in the company on Thursday through block deals. They have fixed the price range of Rs 150.45 to 160 per share for the offer and the deal size will be in the range of Rs 2,783 to Rs 2,960 crore. With this transaction, promoters’ stake in the company will likely to increase from 50.14 per cent to 55.04 per cent.

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Ambuja Cement/ ACC: Ambuja Cement and ACC on Wednesday approved the renewal of the current Technology and Know-How Agreement (''TKH Agreement'') with Holcim Technology Limited (HTL) pursuant to which the Company pays TKH fees @ 1 per cent of net sales each year, to HTL, for 2 years w.e.f. January 01, 2021, on the same terms as the present TKH Agreement. Besides, the Board of Ambuja Cements at its meeting held on December 23, 2020, accepted the resignation of Roland Kohler as a Non-Executive Non- Independent Director of the Company. The Board has appointed Ramanathan Muthu as a Non-Executive (Non-Independent) Director of the Company.

Dish TV, Den Networks, GTPL Hathway, Hathway Cable: The Union Cabinet on Wednesday approved changes to the guidelines for providing Direct to Home (DTH) services to bring it in line with the existing policy that allows 100 per cent FDI in the DTH broadcasting services sector. It has introduced changes in the licence period and fees. It said that licences will now be issued for 20 years with a renewal provision after every 10 years. At present, DTH licences are issued for 10 years. The licence fee has also been lowered from 10 per cent of gross revenue to 8 per cent. The fee will have to be paid quarterly instead of annual payment as at present.

Restaurants/Hotel Stocks in Focus: Maharashtra government cuts excise license fees by 50 per cent and it also waived the excise fee that was imposed for this year. At the same time, it also withdraws its decision to hike excise fees of 15 per cent. 

MSTC: MSTC is likely to get large orders related to e-commerce, Zee Business exclusive. It is likely to conduct e-tenders and e-auction for the government. It will also conduct auction related to sale and purchase of assets and will connect with farmers and buyers to sell their crops.