🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Tembo Global is in discussions with a major corporate group for potential projects valued at ₹700 crore, encompassing ports, data center development, and fuel farm systems.
• Astra Microwave secured an order worth ₹171 crore from the India Meteorological Department (IMD) for the procurement of six Polarimetric Doppler Weather Radars.
• Tata Power received an annual order valued at ₹156 crore for 35 years to commission a 400 KV transmission line, following a Letter of Intent (LoI) from REC's arm.
• Vedanta emerged as the successful bidder for the Genjana block, which contains critical minerals such as nickel, chromium, and Platinum Group Elements (PGE).
• NBCC was awarded orders totaling ₹289 crore, including projects from SAIL Bokaro and NALCO.
• Interarch Building received a Letter of Intent worth ₹70 crore for the design of a pre-engineered steel building system.
• Jindal Steel & Power announced a significant expansion, tripling its annual capacity for heat-treated plates to seven lakh tonnes.
• ITC Hotels signed an agreement for the "Epiq Collection Jaipur, Bagru," a 150-key hotel set to open in 2030.
• Glenmark Pharmaceuticals is set to launch a generic medication for anaemia treatment in the US market this month.
• Rama Steel Tubes approved the joint acquisition of UAE-based Automech Group Holding Limited for approximately ₹728 Crore.
• Infosys completed its share buyback program, extinguishing 10 crore equity shares.

Neutral Developments

• Honasa Consumer plans to acquire a 95% stake in BTM Ventures for an enterprise value of ₹195 crore, marking its entry into the Men's Personal Care Category.
• Kansai Nerolac Paints approved the sale of its entire 60% stake in its Sri Lankan subsidiary, Kansai Paints Lanka (Private) Ltd.
• Several companies announced ex-date events:
  • Bharat Rasayan for a 1:2 stock split and a 1:1 bonus issue.
  • Mrs. Bectors Food for a 1:5 stock split.
  • Nureca and VLS Finance for buybacks.
  • NACL for a 5:31 rights issue.
• The Park Medi World IPO was subscribed 98% on its second day.
• Bandhan Bank and Sammaan Capital entered the F&O ban period.
• Analysts suggest caution despite the positive market opening, recommending investors monitor key resistance levels for the Nifty, with consolidation expected due to continued foreign fund outflows.

Negative News

• InterGlobe Aviation (IndiGo) CEO Pieter Elbers has been summoned by the Directorate General of Civil Aviation (DGCA) to address severe operational disruptions.
• Piramal Pharma received a Form 483 with four observations from the US FDA following a Good Manufacturing Practices (GMP) inspection at its Lexington, Kentucky, facility.
• GAIL received a GST demand order of ₹143.08 crore, including penalties.
• The Indian Rupee depreciated significantly, plunging 39 paise to an all-time low of 90.33 (provisional) against the US dollar, amid uncertainties surrounding the India-US trade deal.
• Foreign Institutional Investors (FIIs) continued their selling streak for the tenth consecutive session, offloading equities worth ₹1,651 crore.
• On December 11, Asian Paints, SBI Life Insurance, and Bharti Airtel were among the top losers.
• Several stocks, including Trent, NCC, Sterling and Wilson Renewable Energy, Piramal Pharma, PCBL Chemical, Page Industries, Vedant Fashions, Dixon Technologies, Blue Dart Express, and BASF India, hit 52-week lows on December 11.

TAGS: Stocks in News, Stock Market, Buzzing Stocks, Nifty, Sensex

Tags: Stocks in News Stock Market Buzzing Stocks Nifty Sensex