Stocks to watch on Tuesday: At 8:14 am, GIFT Nifty traded 6 points, or 0.03 per cent lower, at 21,480, indicating a muted start for domestic equities on December 19.

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Benchmark equity indices Sensex and Nifty slipped on Monday due to profit-taking by investors after a three-day record-breaking rally and a largely weak trend in Asian markets. Snapping its three-day rally, BSE Sensex declined 168.66 points, or 0.24 per cent, to settle at 71,315.09. Nifty 50 fell by 38 points, or 0.18 per cent, to 21,418.65.

Here are some stocks that will be in focus on Tuesday, December 19:

Vedanta: 

The company's board approved the second interim dividend of Rs 11/- per equity share i.e. 1100 per cent on the face value, amounting to around Rs 4,089 crore. 

Devyani International: 

The company's Dubai subsidiary, Devyani International DMCC, entered into the Thailand market by signing a share purchase agreement and other transaction-related documents to acquire a controlling interest in Restaurants Development Co., Ltd., Thailand. The subsidiary will enter the Quick Service Restaurants (‘QSR’)/Limited Service Restaurants (‘LSR’) market in Thailand.

Prataap Snacks: 

The company clarified through a regulatory filing that its promoters were not in talks with potential buyers for the sale of controlling stake. 

Allcargo Logistics: 

The company’s subsidiary ECU Hold N.V. and Antwerp Freight Station NV have together acquired stakes in Eurocenter FZCO and ECU Line Middle East (LLC). The acquisition was completed by December 7. 

Biocon: 

The company's subsidiary, Biocon Biologics, completed the transition of the acquired biosimilars business in 120 countries across advanced and emerging markets, a year ahead of schedule.

DCW: 

The company's Tamil Nadu plant operations have been temporarily suspended owing to flooding and water logging at the factory premises because of heavy rains since Sunday, December 17. 

Apollo Tyres:

White Iris Investment in a block deal can dilute 3 per cent stake in the tyre stock via an upsize option in a deal valued at around Rs 832 crore. The floor price for the deal is pegged at Rs 440 apiece, which is at a discount of 2 per cent to the last closing price.

Kaynes Technology:

The industrial products company launched its QIP on  Monday at a floor price of Rs 2449.96 per share. The company is set to raise an approximate Rs 1400 crore through the issue. Also, the company announced the acquisition of Digicom Electronics for US$ 2.5 million.

KPI Green Energy:

The utility company launched its QIP with a floor price set at Rs 1245 per share. This is at a steep discount of 10.2 per cent. The company’s board meeting is scheduled on December 21 to consider the issue price.

Shankara Building Products:

The company’s board has approved the demerger of its trading business. For the demerging company, a subsidiary company will be set up. For 1 share of the demerged undertaking, shareholders will get 1 share of the subsidiary company.

Ircon International:

The International Chamber of Commerce  (ICC) gave arbitration award of Rs 103.62 Cr in favor of the company.

JK Tyre & Industries:

The company has received shareholders' nod for fund raising. The tyre company via the QIP route will aggregate a sum of Rs 500 crore.

South Indian Bank  

The lender's board meeting is scheduled to take place on December 27 to mull fund raising plans through preferential issue, private placement, FPO, QIP or any other modes.

Oil and gas stocks:

The centre has slashed the windfall gain tax on domestic crude oil from Rs 5000 per tonne to Rs 1300 per tonne. Also, the windfall tax on diesel has been reduced to Rs 0.5 per litre from Rs 1 per litre, according to a government notification.

Dixon Technologies:

Global brokerage CLSA has maintained outperform call on the consumer durable company with a raised target of Rs 7070 per share as against the earlier target of Rs 5675 apiece.

Dr Lal Path Labs, Krsnaa Diagnostics etc:

As a new variant of Covid has been identified, an advisory has been issued to States for increasing the testing as well as surveillance measures. 

(With inputs from agencies)

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