Stocks to Watch, Dec 18: Ambuja Cements, Jindal Saw, Minda Corp, ABREL

Stocks to watch on December 18, 2024: Ambuja Cements approved a scheme of arrangement for the amalgamation of Sanghi Industries and Penna Cement Industries with Ambuja Cements

Stocks to watch on Wednesday, December 18, 2024: Indian equities are expected to have another gloomy start on Wednesday, according to GIFT Nifty futures. The futures were trading 57 points lower than Nifty50 futures at 24,359 level. 

 

On Tuesday, the key benchmarks settled in red with the BSE Sensex closing 1,064 points or 1.30 per cent lower at 80,684.45, while the Nifty50 settled at 24,336, falling 332 points or 1.35 per cent.

 

Meanwhile, for Wednesday, below are some hot stocks to keep tabs on:

 

Stocks to Watch:

 

Listings today: One Mobikwik Systems IPO (Mainline), Vishal Mega Mart IPO (Mainline), Sai Life IPO (Mainline), Purple United IPO (SME) and Supreme Facility IPO (SME) will list on the bourses.

 

 

Ambuja Cements: Approved a scheme of arrangement for the amalgamation of Sanghi Industries and Penna Cement Industries with Ambuja Cements. For every 100 shares of Sanghi Industries, shareholders will receive 12 shares of Ambuja Cements.  

 

Aurobindo Pharma: The US FDA completed an inspection of Unit-V, the API manufacturing facility of its wholly-owned subsidiary, Apitoria Pharma Private Ltd, issuing two procedural observations.  

 

Minda Corporation: Formed a 50:50 joint venture with HCMF to establish Minda-HCMF Technologies Pvt Ltd for manufacturing automotive sunroof solutions and closure technology products.  

 

Exide Industries:  Invested Rs 99.99 crore in its unit, Exide Energy Solutions Ltd, for a greenfield lithium-ion battery manufacturing project. Total investment in the unit now stands at Rs 3,152 crore.  

 

Edelweiss Financial Services: The Reserve Bank of India (RBI) lifted business restrictions on two Edelweiss Group entities — ECL Finance Ltd and Edelweiss Asset Reconstruction Company Ltd (Edelweiss ARC).    Rites: The company has a won a new order worth Rs 122 crore. 

Supriya Lifesciences: Expanded its Lote Parshuram facility, increasing capacity by over 55 per cent, from 597 KLPD to 932 KLPD.  

 

Jindal Saw: The company has entered into a share purchase agreement with ReNew Green Energy Solutions Private Limited (RGES) to acquire up to 31.20 per cent equity share capital in ReNew Green MHH One Private Limited (RGMHH), resulting in RGMHH becoming an associate of the company.  

 

VA Tech Wabag: The company announced the cancellation of its $317 million (approximately Rs 2,700 crore) order for a 300 MLD mega sea water desalination plant in Saudi Arabia.  

 

Glenmark Life Sciences: The Ministry of Corporate Affairs (MCA) has approved the company’s name change to Alivus Life Sciences, effective December 17, 2024.  

 

Kirloskar Ferrous Industries: The company announced the commencement of iron ore dispatches from Kirloskar Bharath Mines after receiving necessary approvals.  

 

Gujarat Industries Power: Awarded an EPC contract for the BOS package at Khavda for a 500 MW solar PV project in the Great Rann of Kutch, Gujarat.  The board approved debt syndication plans for term loans to fund two other solar projects: a 500 MW solar power project (Phase-II) at Khavda and a 75 MW solar power project at Vastan.  

 

Sun TV Network: The National Company Law Tribunal (NCLT) approved the scheme of amalgamation for South Asia FM and its joint ventures/associate companies.  

 

Cellecor Gadgets: Partnered with Epack Durable Pvt Ltd to strengthen air conditioner manufacturing capabilities.  

 

Aditya Birla Real Estate: Acquired a land parcel in Boisar for Rs 104 crore.  

 

Sonata Software: Launched Harmoni.AI-powered test acceleration platform, IntelliQ, to support digital transformation for global enterprises.  

 

Fermenta Biotech: Announced the sale of its commercial office premises in Worli, Mumbai, for Rs 40 crore.  

 

Piramal Enterprises: The company announced that its Administrative Committee will meet on December 20, 2024, to discuss and approve a proposed public issuance of non-convertible debentures (NCDs).