Tata Steel, SBI, BEL, Infosys, Cipla: Stocks to watch out for on Tuesday

Stocks to watch on Tuesday, December 26: At 7:54 am, GIFT Nifty traded 35.45 points, or 0.17 per cent higher, at 21,420.5, indicating a positive start for domestic equities on the first trading session of the last week of CY 2023.

The Indian stock market remained closed on Monday, December 25, due to Christmas. On Friday, December 22, the benchmark indices, Sensex and Nifty 50, extended gains for a second day following buying in IT stocks and firm trends in the US markets.

The 30-share BSE Sensex climbed 241.86 points or 0.34 per cent to settle at 71,106.96. The Nifty 50 went up by 94.35 points or 0.44 per cent to 21,349.40. 

Here are some stocks that will be in focus on Tuesday, December 26:

Infosys

The IT firm terminated its AI deal with a global company worth $150 million (Rs 12,450 crore). The memorandum of understanding (MOU) was signed in September.

Tata Steel

The steel maker announced a shareholders’ meeting on January 25, 2024, to consider a merger with Indian Steel and Wire Products.

State Bank of India (SBI)

The public sector lender concluded the issuance of $250 million of senior unsecured green floating rate notes.

Vedanta

Bharat Aluminium Company Limited, the company's subsidiary, received a Goods and Services Tax (GST) demand notice worth Rs 84,70,09,977 for FY 2017-18 on account of various interpretational issues. As per the filing, Vedanta and Bharat Aluminium Company are not expected to have any material financial impact.

Reliance Industries

Reuters reported that Reliance Industries and Walt Disney have signed a non-binding term sheet to merge their Indian media operations, citing unnamed sources.

Jindal Steel & Power

The company entered into an MoU with Rashtriya Ispat Nigam Limited (RINL) for the operationalisation of RINL's Blast Furnace-3 (BF-3). The furnace, set to be lit up on December 30, 2023, will boost production by 2 lakh tonnes of hot metal per month.

Cipla

The company received an order from the GST Authority imposing a penalty of over Rs 11 crore.

Aurobindo Pharma

The United States Food and Drug Administration (US FDA) conducted a pre-approval inspection (PAI) at the new injectable facility of Eugia US Manufacturing LLC (a step-down wholly owned subsidiary of Aurobindo Pharma Ltd.), situated in the USA, from December 11 to December 22, 2023. The inspection closed with 10 observations. As per the filing, the company will file the necessary appeal with the appellate authority in this regard.

Siemens

Promoter Siemens Energy Holding BV sold 1.78 crore shares, which translates to 5 per cent shares, to subsidiary Siemens Energy Holdco BV.

Bajaj Holdings & Investment:

The company bought a 0.0066 per cent stake in Nestle India for Rs 16.01 crore.

Religare Enterprises:

Religare Finvest Limited (RFL), a subsidiary of Religare Enterprises Limited, has commissioned an investigation into the siphoning-off of funds from RFL by the erstwhile promoters of the company.

Divi's Laboratories

The company received a notice from Deputy Commissioner Central Tax, Gachibowli CGST Division, Hyderabad, of Rs 19.34 lakh on December 23. The order pertains to the alleged CGST-GST irregular carry-forward of the input tax credit on ISD in Form GST TRAN-I filed.

Grindwell Norton

The abrasives and silicon maker's board has approved the investment in VEH Wind Energy towards sourcing green power. The company also got a nod to invest in Advanced Synthetic Minerals.

Biocon

Biocon Biologics, a subsidiary of Biocon, partnered with Sandoz for the distribution of Adalimumab BS subcutaneous injection and got exclusive rights to promote, sell, and distribute Adalimumab BS in Japan.

Zydus Lifesciences

The US Food and Drug Administration (USFDA) inspected the API site situated in Ahmedabad. The inspection closed with six observations.

BEL

Bharat Electronics Limited (BEL) has received orders worth Rs 2,673 crore for the supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels, the Navratna Defence PSU said on Friday. CLSA has raised its target on the defence major from the earlier Rs 154 to Rs 207.

UPL

The company's board has approved fundraising to the tune of Rs 4,200 crore through rights issue.

RBL Bank

The lender, via an exchange filing, informed bourses that, in accordance with the RBI letter, the term of Yogesh Dayal has ended on December 23, 2023. Dayal, Chief General Manager, Reserve Bank of India, was appointed as an Additional Director on the board of the bank for two years, w.e.f. December 24, 2021.

Wipro

Sanjay Jalona, former MD and CEO of LTI, has denied reports of joining the IT major.

Paytm

The payments major has laid off as many as 1000 employees from its operations and marketing division amid Artificial Intelligence (AI) transformation.

Polycab

The Income Tax Department of Mumbai conducted search and seizure operations at some of the company's premises and facilities.

Radico Khaitan, Sula Vineyards, and others

After the Gujarat government has allowed liquor consumption at hotels, restaurants, and clubs in the GIFT City, liquor stocks will be seen in action today.

EMS

The engineering sector company bagged an order worth around Rs 358.56 crore.

PNC Infra

The small-cap construction and engineering company won an order estimated at Rs 1,602 crore from the NHAI.

Anupam Rasayan

The company has received a letter of intent (LOI) worth Rs 507 crore from a Japan-based multinational company.

J Kumar Infraprojects

CLSA has maintained its 'Buy' call on the counter and has significantly raised the target price from Rs 385 to Rs 720 per share.

(With inputs from agencies) 

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