Stocks to watch out for today: Sugar stocks, Mazagon Dock, Lupin, PNB, Vedanta, NBCC

Stocks to watch on Monday, December 18: At 8:20 AM, GIFT Nifty traded 31 points, or 0.14 per cent higher, at 21,485.50, indicating a muted to positive start for domestic equities on December 18.

Domestic equity benchmarks scaled a series of record highs in a magnificent trading week on the back of supportive global developments, with the Nifty50 finishing a stellar session on Friday with a gain of 274 points, or 1.3 per cent, at 21,456.7 after scaling an all-time high of 21,492.3. The Sensex surged 969.6 points, or 1.4 per cent, to end at a record 71,483.8 after touching a life high of 71,605.8 during the session.

Domestic macroeconomic data and easing concerns over US economic growth bolstered market sentiment on Dalal Street.

The market staged an astounding move in the later half of the week to clock a seventh straight weekly gain. 

Here are some of the stocks that will be in focus on Monday, December 18:

Mazagon Dock Shipbuilders

Mazagon Dock Shipbuilders Ltd (MDL) signed individual contracts with a European client for the construction of three units of 7,500 DWT multi-purpose hybrid-powered vessels on December 14, 2023, for around $42 million. 

Lupin

The company got tentative approval from the US drug regulator for a new drug application, Sitagliptin Tablets USP.

NBCC (India)

The company sold a total commercial inventory of around 2.23 lakh square feet worth Rs 905 crore, out of which 0.43 lakh square feet worth Rs. 191.84 crore went to private entities.

Orient Green Power

The board approved an increase in the size of the proposed fundraise by way of issuance of equity shares on a rights basis for a value not exceeding Rs 300 crore.

Punjab National Bank (PNB)

PNB Bank surpassed the Rs 1 lakh crore market capitalisation mark on Friday, December 15, even as the stock price was yet to scale a fresh high.

Vedanta

The company's board will consider a second interim dividend on Monday, December 18. 

Sandur Manganese

The company's board will consider the issuance of bonus shares on Monday, December 18. 

IPOs to open on December 18

Suraj Estate Developers, Muthoot Microfin and Motisons Jewellers are all set to launch their IPOs on Monday. Inox India's public offer will conclude on the same day. 

Sugar companies in focus

OMCs will issue new contracts for ethanol production from sugar cane juice and B-heavy molasses. The Food and Public Distribution Ministry orders that OMCs immediately inform the ministry after the new contract.

Granules India

The USFDA conducted a Good Manufacturing Practice inspection at Granules Pharma's Virginia unit, USA. After the inspection, five observations have been issued to the facility.

(With inputs from agencies)

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