 "Stocks to Watch, Dec 6: Vi, Canara Bank, rate sensitives, Nykaa, RITES")
Stocks to Watch on December 6, 2024: Ahead of the Reserve Bank of India (RBI) policy decision at 10 AM, the GIFT Nifty futures, around 7:01 AM, were trading higher by 40.65 points at 24,805. In the previous session, the Sensex settled 809.53 points or 1 per cent higher at 81,765.86 and the NSE Nifty50 ended at 24,708.40, up 240.95 points or 0.98 per cent.
Here is a list of stocks that will be eyed by investors and traders today (December 6, 2024):
Rate-sensitive stocks: Banking, auto, and realty stocks will be on investors' radar as RBI will unveil its policy decision at 10 AM today.
Vodafone Idea (Vi): On December 9, the Vi board will consider a proposal to raise Rs 2,000 crore from entities belonging to promoter Vodafone Group through a preferential issue.
Hyundai Motor India: The company announced a price increase of up to Rs 25,000 across models, effective January 1. The adjustment is attributed to rising input costs, unfavourable exchange rates, and higher logistics expenses.
Canara Bank: The RBI has approved the stake sale by Canara Bank in its mutual fund and insurance arms through an initial public offering (IPO). In March 2024, Canara Bank received board approval to sell stakes in the two subsidiaries.
ITC: The cigarette-to-hotel conglomerate is expanding its network of Farmer Producer Organisations (FPOs), further aiming to connect one crore farmers in the next 4-5 years and scaling up sourcing of fruits and vegetables through this platform, said its Agri Business Division CEO S Ganesh Kumar.
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FSN E-Commerce Ventures (Nykaa): Nykaa Fashion chief executive officer Nihir Parikh has resigned and has been relieved with immediate effect.
Ola Electric: The Central Consumer Protection Authority (CCPA) has sought additional documents and information from Ola Electric with regard to the show cause notice issued in October related to 10,644 complaints.
PSB stocks: Public-sector banks (PSBs) have fallen short of achieving the annual targets of two flagship insurance schemes for social security, Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), according to the government data reviewed by Business Standard. Till October 2024-25, while PSBs have achieved only 40 per cent of their enrolment target of 64 million for the PMSBY, they have met just 30 per cent of the 41 million target of the PMJJBY.
Procter & Gamble Hygiene & Healthcare: The company's parent P&G has overhauled its supply chain for the tiny, extra-thin strips of stainless steel in its Gillette razors to source from India, a move expected to help protect its margins from any tariffs US President-Elect Donald Trump may impose.
Garden Reach Shipbuilders & Engineers: The company has inked a contract for the construction and delivery of the second ship from a series of four additional 7,500 DWT multi-purpose vessels in Germany. In September, the company secured an order for the construction and delivery of four additional multi-purpose vessels of 7,500 DWT each.
Coromandel International: The company and International Fertilizer Development Center (IFDC) have signed a strategic master research agreement to foster innovation and sustainability in fertiliser development.
RITES: The civil construction company has been appointed as a project management consultant (PMC) for the execution, supervision, monitoring, and development of the phase II campus of the Indian Institute of Management Raipur (Chhattisgarh) project. The size of the order is around Rs 148.25 crore.
GPT Health: The company has entered into a Memorandum of Understanding (MOU) for the construction and finishing of a hospital building at Jamshedpur, Jharkhand.
Waaree Energies: The solar PV module manufacturer has secured NABL accreditation for its PV module testing lab at the module manufacturing facility in Chikhli, Gujarat.
Afcons Infrastructure: The recently listed company has completed the longest tunneling drive between the Tughlakabad Airforce Launching Shaft and Maa Anandmayee Marg Station on the Tughlakabad-Aerocity corridor, for the Delhi Metro Rail Corporation (DMRC) as part of the Delhi Metro Phase IV project.