Vodafone Idea, Infosys, Torrent Pharma, Tata Power, Metropolis Healthcare, other stocks to track on Tuesday
Share Market News, Stocks to Track: Domestic equity benchmarks Nifty 50 and Sensex finished a session full of wild swings on a lower note on Tuesday as selling pressure in FMCG and energy stocks outweighed buying interest in spaces like IT and metals. As market participants await a new week on Dalal Street, here are a few stocks worth tracking on Tuesday, December 10.
Share Market News, Nifty 50/Sensex/BSE 500 Stocks to Track: Domestic equity benchmarks Nifty 50 and Sensex finished a choppy session lower on Tuesday as losses in FMCG and energy shares outweighed gains in metal and IT counters. The Sensex gave up 200.7 points, or 0.3 per cent, to end at 81,508.5 while the Nifty 50 settled at 24,619, down 58.8 points, or 0.2 per cent, from its previous close.
The Nifty FMCG gauge—whose 15 constituents include some of the country's largest companies in the sector—slumped 2.2 per cent for the day, dragged by heavyweights like Godrej Consumer Products and Tata Consumer Products.
As the focus shifts to the next trading session on Dalal Street, here are a few stocks worth tracking on Tuesday, December 10.
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Torrent Power
Torrent Power's Rs 3,500-crore qualified institutional placement (QIP) has been subscribed four times.
The issue was placed with investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank and Amundi.
Vodafone Idea
Private sector telecom operator Vodafone Idea's board has approved a proposal to raise up to Rs 1,980 crore by issuing up to 175.5 crore shares to two Vodafone group entities on a preferential basis. The debt-ridden telecom company has mentioned an issue price of Rs 11.28 per equity share for the transaction.
GCPL & CEAT to remain in focus
Tyre maker CEAT's stock will continue to be in focus on Monday after staging a rally on Monday.
The RPG Group firm has entered into a definitive agreement with Michelin to acquire Camso brand's Off-highway Tyres and tracks business for about Rs 1,905 crore. The news sent the stock soaring more than 10 per cent on Monday.
Godrej Consumer Products shares will also be watched closely after the FMCG major's mid-Q3 update, suggesting a temporary decline in its margin, sent the stock closing 8.7 per cent lower on Monday.
Vedanta
Vedanta Group is set to invest Rs 1 lakh crore in Rajasthan over next 2-3 years to enhance production capacity of its companies in the state, creating an additional 1 lakh estimated jobs.
Tata Motors
Tata Motors, along with the auto pack, will be in focus as the Tata group auto giant has announced plans to hike the prices of its prices with effect from January.
Infosys
HSBC has upgraded Infosys to 'buy' from 'hold' with a revised target price of Rs 1,795 instead of the Rs 2,120 per share earlier.
Share Split
Achyut Healthcare and Shradha AI Technologies shares are set to trade ex-dividend on Tuesday.
Bonus Shares
Achyut Healthcare shares are also set to trade ex-bonus as soon as the opening bell on Tuesday.
Metropolis Healthcare
Metropolis Healthcare's board has approved the acquisition of Core Diagnostics for Rs 247 crore. After the trasnaction, Core Diagnostics will become a wholly-owned subsidiary of Metropolis.
Tata Power
Tata Power has announced investments to the tune of Rs 1.2 lakh crore in various renewable energy-related projects in Rajasthan including rooftop solar installation and electric vehicle charging infrastructure.
Life Insurance Corp
State-owned Life Insurance Corporation is targeting to enrol 1 lakh Bima Sakhi beneficiaries in the next 12 months as part of its women empowerment drive.