🇮🇳 India Daybook ~ Stocks in News

Positive Buzz

• Tata Power: The company received a Letter of Intent (LOI) from REC Power Development & Consultancy to acquire Jejuri Hinjewadi Power Transmission SPV for ₹155.78 crore. The project involves approximately 115 km of 400 kV D/c transmission lines.

• Astra Microwave Products: Secured a ₹171.38-crore order from the India Meteorological Department for the supply of six Klystron-based S-band polarimetric Doppler weather radars, along with related systems and long-term maintenance.

• NBCC (India): Received project management consultancy orders totaling ₹255.5 crore from Nalco and ₹33.89 crore from SAIL Bokaro.

• Oswal Pumps: The company secured a ₹380-crore order from the Maharashtra State Electricity Distribution Company (MSEDCL) for the installation of 13,738 off-grid solar water pumping systems across the state.

• Firstsource Solutions: Its subsidiary successfully completed the acquisition of Pastdue Credit Solutions, a UK-based FCA-registered collections agency, for GBP 22 million.

• Rama Steel Tubes: The firm will acquire UAE-based Automech Group for AED 296 million (approximately ₹728 crore), a move that diversifies its business into high-value precision engineering and expands its footprint in the GCC/MENA regions.

• Jindal Steel & Power: The company announced it has tripled its annual capacity for heat-treated plates to seven lakh tonnes, expanding its manufacturing capabilities.

• BEML: The defense public sector unit rolled out a prototype of its new driverless metro trainset at its Bengaluru facility, designated 5RS-DM, for the upcoming Pink and Blue (Airport) lines of the Bangalore Metro Rail Corporation (BMRCL)'s Phase 2, 2A, and 2B corridors.

• Vedanta: Declared the successful bidder for the Genjana nickel, chromium, and PGE block in the Ministry of Mines' Critical Mineral Auctions (Tranche III), which is expected to strengthen its critical minerals portfolio.

• Autoline Industries: Entered the electric two-wheeler segment through its subsidiary, Autoline E-Mobility Pvt. Limited, which has received the necessary accreditation for its OXSTAR Z1 and OXSTAR Z-2 brands.

Neutral Developments

• Honasa Consumer: The company will acquire a 95% stake in BTM Ventures, the owner of men's grooming brand Reginald Men, for an enterprise value of ₹195 crore, with the remaining 5% to be purchased after 12 months.

• Cyient: Acquired Abu Dhabi & Gulf Computer Est. to bolster its digital services and consulting capabilities across key sectors in the Middle East.

• Kansai Nerolac Paints: The board approved the sale of its entire 60% stake in its Sri Lankan arm, Kansai Paints Lanka, to Sri Lanka-based Atire.

• TRF: CFO Anand Chand resigned effective December 11 to pursue other opportunities within the Tata Steel Group.

• Piramal Pharma: The US FDA concluded a GMP inspection at the company's Lexington, Kentucky facility, issuing a Form 483 with four observations related to procedural enhancements, classified as VAI (Voluntary Action Indicated).

• YES Bank: The Nomination and Remuneration Committee decided not to extend the tenure of Rajan Pental, Global Head of Retail Banking, whose term is set to conclude in February 2026.

• GAIL: The company disclosed that it received a GST demand order of ₹143.08 Crore, which includes penalties.

• ICICI Prudential AMC: Its mainboard IPO opened for subscription today.

• SME IPOs: Ashwini Container Movers IPO, Exim Routes IPO, and Stanbik Agro IPO are also open for subscription.

• Analyst Ratings & Recommendations:

  • Kotak Securities has a 'reduce' rating on LG Electronics with a target price of Rs 1,600.
  • Bernstein maintains a cautious stance on SBI Cards.
  • Nuvama is bullish on Yatharth Hospitals due to its expansion plans.
  • Goldman Sachs has a 'neutral' rating on Nestle India, expecting sustained growth.
  • Citigroup maintained a 'neutral' rating on Siemens, noting minimal impact from its LV motors business sale.
  • HDFC Bank, Dr. Reddy's Laboratories, Grasim Industries, and Bajaj Auto showed a bullish RSI upswing, indicating strengthening momentum.
  • Bajaj Broking Research suggests considering Eternal and Divi's Laboratories.
  • Sumeet Bagadia recommended Yatra Online, Natco Pharma, Sakar Healthcare, Ramco Systems, and Prataap Snacks as breakout stocks.
  • Market experts recommended ABB India, RBL Bank, Lupin, Natco Pharma, and Bharat Forge for today's trade.

Negative News

• IndiGo: CEO Pieter Elbers has been summoned to appear before the Committee of Officers at the Directorate General of Civil Aviation (DGCA) today, as the regulator is investigating the airline's significant operational disruptions.

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