IRCTC, Lemon Tree Hotels, City Union Bank: Stocks to watch on Friday

Stocks to watch out for on Friday: At 8:14 am, GIFT Nifty traded 5.7 points, or 0.03 per cent higher, at 21,948, indicating a muted to positive start for domestic equities today.

Domestic benchmark indices finished yet another session at fresh closing peaks on Thursday, December 28, thereby continuing their rally for the fifth straight session as bulls continued to dominate D-Street.

The Nifty50 index ended 123.95 points, or 0.57 per cent, higher at 21,778.7, and the Sensex settled the day at 72,410.38, up 371.95 points, or 0.52 per cent, both record closing highs, after each staged a spectacular rally to life-time highs during the session. Besides, the 50-scrip barometer crossed the 21,800 mark for the first time in intraday trade.

Here are some stocks that will be in focus on Friday, December 29.

Lemon Tree Hotels

The company signed a franchise agreement for an upcoming hotel in Mussoorie, Uttarakhand. This opening will be in addition to the existing eight and seven upcoming hotels and resorts in the state.

MCX

Suparna Tandon has been appointed as a non-executive, non-independent director.

Updater Services Ltd

Director of Matrix Business Services India Private Limited, Jayasree Srinivasan, a subsidiary of Updater Services Limited, resigned from the Board of Matrix Business Services with effect from March 31, 2024.

City Union Bank

The private sector lender opened five new branches across India.

IRCTC

Pradeep Kumar joined the post of Chief Vigilance Officer, Indian Railway Catering and Tourism Corporation Limited, on December 28.

PCBL Ltd

The company has incorporated its subsidiary, Advaya Chemicals Limited.

Equitas Small Finance Bank

The Reserve Bank of India (RBI) approved ICICI Prudential Asset Management Company Limited (“ICICI AMC”) to acquire an “aggregate holding” of up to 9.95 per cent of the paid-up equity capital or voting rights in Equitas Small Finance Bank.

Marine Electricals:

The NSE-listed company bagged an order from the Ministry of Defence amounting to a total of Rs 31.85 crore. The order is for the procurement of six Integrated Bridge Systems (IBS) for TEG and Shivalik classes of ships.

BPCL/ HPCL/ IOCL:

As per sources, petrol and diesel prices are likely to be slashed by Rs 8–10 per litre soon.

HDFC Bank/SBI:

The Reserve Bank of India has shifted SBI and HDFC Bank to the upper bucket in the list of domestically systemic important banks. SBI has been moved to bucket 4 from bucket 3, while HDFC Bank has been shifted to bucket 2 from bucket 1. Now, both of the banks will be required to maintain a higher Tier-1 capital ratio with effect from April 1, 2025.

Balrampur Chini Mills, Dhampur Sugar, etc.:

Sugar stocks will be in focus as the centre can import duty on the export of molasses to the tune of 40–60 per cent.

PNB:

The lender's board has approved fund raising to the tune of Rs 7,500 crore via FPO or QPI in one or more tranches in FY25.

ICICI Lombard:

The general insurer has received a demand notice of around Rs 1729 crore from CGST (Thane). The department has also imposed a penalty of around Rs 173 crore.

Aarti Drugs:

The market regulator SEBI has issued an administrative warning letter to the pharma company. The company failed to disclose material information regarding the order of the Gujarat Pollution Control Board for the closure of operations at the Sarigam plant.

RailTel:

The company bagged an order worth Rs 120.45 crore from South Central Railway for comprehensive signalling and telecommunication works for the provision of an automatic block signalling system in the Yermaras-Nalwar section of the Guntakal division of South Central Railway.

Indiabulls Housing Finance:

The housing financier is out of the F&O ban. SBI Opportunity Fund sold 30.9 lakh shares, or 0.64 per cent equity, at 218.16 per share. Simultaneously, ICICI Prudential also sold 25.34 lakh shares in the entity for Rs 218.74 per share.

Azad Engineering Limited:

In a block deal, Abu Dhabi Investment Authority bought 3.98 lakh shares at Rs 719.9 per share. Also, the entity bought 11.1 per cent during the anchor investment.

JK Tyre:

1.44 crore shares allotted to QIBs will be listed.

Tata Motors/ M&M and other EV stocks: 

Reuters reported that the centre is deliberating over the new electric vehicle or EV policy that will promote EV manufacturing in the domestic markets. 

(With inputs from agencies.)

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