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Stocks to Watch Today: These stocks will be in focus including Tata Steel, LIC, IndiGo, Mazagon Dock
highlights
- Today, Thursday, December 11, there will be special attention on the stocks of 16 companies in the stock market.
- Some companies have made new acquisitions, some have received large orders, while some have received regulatory approvals.
- Additionally, some companies have announced rights issues and new partnerships.
Tata Steel has approved to buy 50.01% stake of Thriveni Pellets Company. This purchase will be for ₹636 crore. This will make it easier for Tata Steel to get raw materials.
LIC has received a GST notice of ₹2,370 crore from the Mumbai tax department, which also includes interest and penalty. The company is currently investigating this notice and will decide later what to do next.
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Adani Enterprises’ ₹25,000 crore rights issue was well received and subscribed by 108%. This seems to indicate that investors have confidence in the company. The company will invest this money in expansion and new schemes.
The Reserve Bank of India has approved making SBI a Section 8 company. Such companies are for non-profit work. RBI has also given permission to SBI to create a Digital Payments Intelligence System.
Cipla has got the right to sell Yurpeak medicine in India after getting approval from DCGI. This medicine is used in the treatment of obesity and type-2 diabetes.
IndusInd Bank has launched a new credit card named ‘IndusInd Bank Jio-bp Mobility+’. It is based on RuPay and will offer special benefits on fuel, travel and digital payments.
DGCA has formed an oversight team for IndiGo, which will monitor complaints related to refunds, ticket cancellations, compensation and baggage. This has been done in view of increasing complaints.
Mazagon Dock has signed an MoU with the Indian Navy and the Brazilian Navy. Under this, work will be done together in the repair and maintenance of submarines and naval ships.
Bank of Baroda has reduced the interest rate (MCLR) for some of its loans.
Overnight MCLR: 7.85% → 7.8%
3 month MCLR: 8.2% → 8.15%
KEI has started the first phase of production at its new plant in Ahmedabad. This will increase the company’s cable manufacturing capacity.
DCM Shriram has entered into an agreement with Bayer CropScience to promote advanced and sustainable agriculture technologies. With this, new technologies will come rapidly in the agricultural sector.
Prestige Estates has completed the deal to buy 66.93% stake in Bharatnagar Buildcon for ₹939 crore. With this the company will be able to further expand its real estate projects.
NALCO has bagged a mega order worth ₹5,032 crore from Dilip Buildcon to develop and operate Pottangi Bauxite Mines.
Petronet LNG has entered into an agreement to take a loan of ₹12,000 crore. This loan has been given by the group led by SBI and Bank of Baroda and will be used by the company for its expansion plans.
Ashok Buildcon has received a ₹1,816 crore order (LoA) from BMC for Mumbai’s Mithi River Development project. This project is very important for river improvement.
Purvankara’s subsidiary Starworth Infra & Construction has received an order worth ₹509.5 crore. This order will further strengthen the construction services of the company.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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