Stocks to Watch Today: The stormy rise in the Indian stock market on Wednesday is expected to continue even today. Amidst the strong signals from the global market, GIFT Nifty is seen up 70 points at 21,750 at 7.30 am. Whereas, monthly derivatives expiry may create some volatility in later half of the day. On the other hand, SEBI has extended the deadline for demat and mutual fund account holders to provide nomination in their account till June 30, 2024. Business in other countries of Asia is almost above normal. In such a situation, the market will keep an eye on these shares today.
Bank, NBFC: Shares of banks and non-banking financial companies (NBFCs) are likely to remain in focus on Thursday, as the RBI in its ‘Trend and Progress Report for 2022-23’ said that both the financial institutions remain strong and resilient. Gross non-performing assets (GNPA) of banks at a decade low. The report also said that banks and NBFCs need to further strengthen their balance sheets, improve governance standards and keep an eye on the rise in unsecured loans.
Azad Engineering: Will debut in the stock market today. The gray market premium suggests potential listing gains of more than 50 percent for the stock following a strong response to its IPO.
zomato: Directorate General of GST Intelligence, Pune Zonal Unit has issued a show cause notice to the company as to why the alleged tax liability of Rs 401.70 crore along with interest and penalty for the period October 29, 2019 to March 31, 2022 should not be paid. No demands will be made from the company.
bata indiaSales Tax: Show cause notice has been received from Anna Salai Assessment Division, in which it is proposed to levy tax of Rs 60.56 crore and interest thereon.
Adani Energy Solutions, Adani Total Gas: These Adani Group companies revealed a new partnership, a new order win and the completion of a joint venture (JV) in separate announcements on Wednesday. Adani Energy has entered into a smart meter joint venture with the smart metering solutions arm of AsiaSoft Holdings. Apart from this, the company also got an order worth Rs 3,000 crore for a transmission project in Gujarat.
Kansai Nerolac Paints: Mumbai land including building will be sold to Runwal Group for Rs 726 crore.
KPI Green Energy (KPI Energy): The Board will meet on December 30 to consider the bonus issue/increase in authorized capital/other business.
Mahindra & Mahindra (M&M): To sell 28.06 lakh equity shares, constituting 0.58 per cent of the existing issued and paid-up equity share capital, as initial share of BrainBiz Solutions Pvt. Ltd. (‘BrainBiz’).
South Indian Bank: Will raise up to Rs 1,750 crore by issuing equity shares on the right basis.
SB I: An increase of up to 50 basis points (bps) in interest rates on retail and wholesale deposits of various maturities has become effective from Wednesday.