 "Stocks to Watch, Dec 4: Swiggy, Adani Group shares, Vedanta, GMR Airports")
Stocks to Watch on December 4, 2024: The GIFT Nifty futures, around 6:58 AM, were trading lower by 40.5 points at 24,506.5. In the previous session, the 30-share gauge advanced 597.67 points, or 0.74 per cent, to settle at 80,845.75. Mirroring the Sensex, the NSE Nifty50 also added 181.10 points, or 0.75 per cent, to close at 24,457.15.
Here is a list of stocks that will be in spotlight today (December 4, 2024):
Bank stocks: The Lok Sabha approved the Banking Laws (Amendment) Bill, 2024, on Tuesday. It was tabled in the House by Union Finance Minister Nirmala Sitharaman. The Bill proposes 19 amendments to banking laws, including the Reserve Bank of India Act, Banking Regulation (BR) Act, and Banking Companies (Acquisition and Transfer of Undertakings) Act.
Hindustan Unilever (HUL): The company's Vim brand, which leads the market in the dishwashing space, is expected to cross the Rs 3,000 crore mark soon in sales.
Adani Energy Solutions (AESL): The company is the preferred bidder for a transmission system project housed under Rajasthan Part-I Power Transmission, as per reports. The project worth around Rs 25,000 crore reportedly will be AESL’s largest order win ever, once formally awarded.
Adani Group stocks: The group in the last two years improved its net debt to earnings before interest, taxes, depreciation, and amortisation (Ebitda) ratio and cash reserves as gross debt grew, according to global financial services firm Bernstein. Net debt to Ebitda ratio improved to 2.7 in September 2024 against 4.4 in March 2023, with improvements by Adani Green, Adani Transmission, and Adani Power.
Meanwhile, the Andhra Pradesh government, led by Chief Minister N Chandrababu Naidu, is assessing its options regarding a 7,000 MW solar power project with the Adani Group. This project has come under scrutiny following Rs 1,750 crore bribery allegations linked to both Adani Green Energy Limited (AGEL) and Opposition leader and former Chief Minister YS Jagan Mohan Reddy.
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Swiggy: The company has marginally narrowed its consolidated net loss in the second quarter of financial year 2025 (Q2FY25) to Rs 625.5 crore from Rs 657 crore a year ago. But sequentially, the loss was up as the firm had reported a consolidated loss of Rs 611 crore in the first quarter of FY25.
DLF: The real estate company announced the appointment of Badal Bagri as the new Chief Financial Officer (CFO) of the company effective December 6.
Vedanta: CRISIL Ratings Ltd has upgraded its rating on the company's long-term bank facilities and debt instruments. Improved capital structure, better financial flexibility, and strong volume growth are the key reasons for the upgrade.
GMR Airports: The Competition Commission of India (CCI) has approved a proposed transaction involving GMR Infra Enterprises Pvt Ltd and a trust of the Abu Dhabi Investment Authority. The proposed the combination involves subscription to unlisted and unrated optionally convertible debentures of GMR Infra Enterprises by Platinum Stone A 2014 Trust (acting through its trustee Platinum Rock B 2014 RSC Ltd).
Bank of Baroda (BoB): The public sector bank is looking to raise an additional Rs 5,000 crore through infrastructure bonds, against the backdrop of soft interest rate trends.
Bank of India (BoI): The bank is looking to raise an additional Rs 5,000 crore through infrastructure bonds, against the backdrop of soft interest rate trends.
Defence stocks: The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh, has accorded acceptance of necessity (AoN) for five capital acquisition proposals worth over Rs 21,772 crore.
InterGlobe Aviation (IndiGo): IndiGo has taken Mahindra Electric Automobile to the Delhi High Court (HC) for infringement of its trademark ‘6e’ in Mahindra’s new electric car, the Mahindra BE 6e, which is expected to hit Indian roads in February 2025.
PNB Housing Finance: The company will start loans against property (LAP) as a separate segment from April, said its Managing Director & Chief Executive Officer (MD & CEO) Girish Kousgi.
Reliance Power: Solar Energy Corporation of India Limited (SECI), which serves as the implementing agency for renewable energy projects, has withdrawn the debarment notice issued to Reliance Power, enabling the Anil Ambani-led firm to participate in future tenders of the public sector entity.
Godrej Properties: The company has raised Rs 6,000 crore through a qualified institutional placement (QIP), making it the largest such fund-raise by a real estate company in India.