GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Monday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lacklustre as the index was trading 254.50 points or 1.06% higher at 23,293 indicating a higher start for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 closed the session 557 points or 2.39% higher at 23,907, while the BSE Sensex jumped 1,961 points or 2.54% to close at 79,117.
Stocks to watch on November 25, 2024
Adani Group
The U.S. Securities and Exchange Commission has issued a summons to Indian billionaire Gautam Adani, indicted on U.S. bribery allegations related to a bombshell federal indictment against him, a court filing showed.
Also, Adani Group clarified reports of Kenya cancelling more than $2.5 billion in deals after US indictment on bribery charges, saying it had not entered into any binding agreement to operate Kenya’s main airport.
Tech Mahindra
Tech Mahindra has partnered with 60 to 70 global capability centres (GCCs), focusing on providing specialised services, addressing growing demands, and grooming talent to cater to their evolving requirements.
Zomato
The company’s shareholders have approved a proposal to raise Rs 8,500 through a Qualified Institutions Placement (QIP). The approval was granted via a special resolution passed through a postal ballot conducted through remote e-voting. The fundraising is meant to strengthen the balance sheet at this point, said the company in an exchange filing.
Patanjali Ayurved
Patanjali Ayurved’s total income rose by 23.15% to Rs 9,335.32 crore in FY24, helped by other income which includes OFS of Patanjali Foods (earlier known as Ruchi Soya) and income from other group entities, according to RoC filing by the company. In FY24 Patanjali Ayurved’s other income was at Rs 2,875.29 crore against Rs 46.18 crore in the year-ago period, according to financial data accessed through business intelligence platform Tofler. Its revenue from operations was down 14.25% to Rs 6,460.03 crore for FY24.
ZEE Entertainment
ZEE Entertainment CEO Punit Goenka, who resigned from the post of Managing Director last week, has also withdrawn himself from reappointment for the post in the coming AGM, according to an exchange filing.
Hero MotoCorp
Hero MotoCorp and its US-based partner Zero Motorcycles are in the advanced stage of developing a mid-sized performance segment electric motorcycle, reported Reuters citing a top company executive. California-based Zero Motorcycles specialises in electric motorcycles and powertrains. In September 2022, Hero MotoCorp’s board approved an equity investment of up to $60 million in the company.
Escorts Kubota
Tractor sales in the festive months, spanning from September to November, are expected to grow 8-10% this year on the back of good monsoon lifting market sentiments, according to farm and construction equipment firm Escorts Kubota whole-time director and CFO Bharat Madan.
CESC
After a nearly three-year wait because of legal wrangles, Eminent Electricity Distribution, a subsidiary of CESC, has received the Letter of Intent (LOI) for acquiring 100% equity in a company responsible for electricity distribution and retail supply in Chandigarh.