 "Stocks to Watch: Nestle, Zee Ent, Apollo Tyres, Sun Pharma, JTL Ind, NHPC")
Equity benchmark indices Sensex and Nifty are looking to start on a sombre note on Tuesday as investors look to assess the recent rally.
At 7:30 am, the Gift Nifty futures were 10 points lower at 21,468 over Nifty futures’ last close.
Overnight, the US markets extended their gains. The S&P 500 and Nasdaq gained around 0.5 per cent each, while Dow Jones ended flat.
READ: STOCK MARKET LIVE UPDATES
READ: STOCK MARKET LIVE UPDATES
Asian stocks mostly edged lower ahead of the Bank of Japan’s final rate decision for 2023. Nikkei, Hang Seng and Kospi were down by 0.06-1 per cent.
Meanwhile, here are some stocks to watch out in trade today:
Zee Entertainment: Sony Pictures Entertainment is unlikely to extend the timeline for effecting the $10 billion merger of its India business with Zee Entertainment, which brings the deal to the brink of collapse, said a report by Livemint.
Nestle: It has fixed January 5, 2024 as the record date for its 1:10 stock split.
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Apollo Tyres: An affiliate of Warburg Pincus is seeking about $100 million through a 3 per cent stake sale, according toa report by Bloomberg. The floor price is set at Rs 440 apiece.
NHPC: Its board will meet on December 22 to consider monetisation of future cash flow of its power stations as part of the funding plan for capex of the company for the current financial year or beyond.
Sun Pharmaceutical Industries: The drugmaker will acquire a 16.7% stake in Massachusetts-based Lyndra Therapeutics for $30 million.
Vedanta: It has announced a second interim dividend of Rs 11 per share for FY24, amounting to Rs 4,089 crore. The record date for dividend is December 27.
JTL Industries: It has approved raising up to Rs 1,310 crore via the issuance of warrants and qualified institutional placements. The company will issue up to three crore warrants at an issue price of Rs 270 apiece for Rs 810 crore and will raise the remaining Rs 500 crore via QIP.
Vedanta: It has announced a second interim dividend of Rs 11 per share for FY24, amounting to Rs 4,089 crore. The record date for dividend is December 27.
JTL Industries: It has approved raising up to Rs 1,310 crore via the issuance of warrants and qualified institutional placements. The company will issue up to three crore warrants at an issue price of Rs 270 apiece for Rs 810 crore and will raise the remaining Rs 500 crore via QIP.
Kaynes Technology: The company has launched a Rs 1,400 crore QIP at an issue price of Rs 2,224, as per reports.
PSU stocks: The Finance Ministry has told the Parliament that it is difficult to anticipate quantum of actual proceeds from disinvestment in FY24.
PNC Infratech: It won a new Hybrid Annuity Highway Project worth Rs 1174 crore from MPRDC.
KPI Green: The company has opened a QIP issue and approved the floor price for the QIP at Rs 1,245.
Vakrangee: The company has entered into an agreement to buy 8.8 per cent stake in Vortex Engineering from the International Finance Corporation (IFC).
Allcargo Gati: The board will meet on December 21 to consider fundraising.
Vakrangee: The company has entered into an agreement to buy 8.8 per cent stake in Vortex Engineering from the International Finance Corporation (IFC).
Allcargo Gati: The board will meet on December 21 to consider fundraising.
Devyani International: The company has announced its foray into the Thailand market by acquiring 274 KFC outlets for Rs 1,066.10 crore. It has also approved an investment of Rs 340 crore in its global arm, Devyani International DMCC, Dubai.
Olectra Greentech: The NCLT has dismissed the company's petition against MLR Motors for recovery of Rs 10 crore.
Info Edge (India): The company will invest Rs 40 lakh in Jeevansathi Internet Services, its wholly owned subsidiary, which owns Jeevansathi domain name and related trademarks.
Oriental Rail Infrastructure: The board will meet on December 21 to consider and approve a fund raise plan.