Stocks to Watch, Dec 9: GCPL, IndiGo, M&M, CEAT, Bajaj Auto, Paytm, SBI

Stocks to Watch, Dec 9: Here is a list of stocks from Adani group shares to GCPL that will remain in focus today

Stocks to Watch on December 9, 2024: The GIFT Nifty futures, around 7:48 AM, were trading lower by 46.75 points at 24,737. In the previous session, Sensex settled lower by merely 56.74 points or 0.07 per cent at 81,709.12. Similarly, the NSE Nifty50 ended at 24,677.80, up 30.60 points or 0.12 per cent. 

Here is a list of stocks that will be in the spotlight today (December 9, 2024):

M&M/IndiGo: Mahindra & Mahindra (M&M) is set to contest IndiGo's trademark claim on the name "BE 6e" for its upcoming electric SUV in court, even as the automobile giant said that it would rebrand its SUV as “BE 6” to avoid unnecessary distractions. 

 

 

Bajaj Auto: A video of smoke emanating from an electric scooter in Chhatrapati Sambhajinagar has gone viral, after which leading two-wheeler maker Bajaj Auto said the incident was being probed. Smoke came out of the vehicle, apparently a Bajaj Chetak electric scooter, at a busy traffic signal on the Jalna Road on Thursday. 

 

CEAT: Tyre maker and RPG Group company CEAT have entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway tyres (OHT) and tracks business for about USD 225 million (about Rs 1,905 crore).

 

Adani Group stocks: JP Morgan has assigned an ‘overweight’ rating to four Adani Group bonds and has ruled out “any signs of stress” across the key listed entities of the conglomerate saying most of them have leverage less than 5 times.

 

Three of these bonds were issued by Adani Ports and Special Economic Zone (APSEZ) and one by Adani Electricity Mumbai. The firm said that it was ‘neutral’ on the five other bonds and ‘underweight’ on a bond issued by Adani Green Energy in its report.

 

The review comes on the heels of charges of bribery levelled against the group in the US. The Adani group has denied the allegations. 

Godrej Consumer Products: Impacted by an increase in soap prices and unseasonal rainfall slowing down sales of the home insecticides (HI) segment, the company expects a "flattish" underlying volume growth and a mid-single-digit sales growth in the domestic market in the December quarter.

 

One 97 Communications: The parent company of Paytm's Singapore entity is set to sell its stake in Japanese fintech corporation PayPay to Softbank Vision Fund 2 for Rs 2,364 crore.

 

SBI Card: According to a press release by SBI Card, it achieved the milestone of 20 million credit cards in force, having started its credit card business in 1998.

 

Aadhar Housing Finance: The company expects its asset under management (AUM) to cross Rs 25,000 crore by the end of the current financial year.

 

ITC: ITC Agri Business Division is encouraging the cultivation of medicinal and aromatic plants to expand the conglomerate's presence in the fast-growing health and wellness products market in the food, personal care, and other categories. 

 

SBI: State Bank of India (SBI) is planning to sell bad loans worth Rs 2,732.5 crore related to Odisha-based ARSS Infrastructure Projects Ltd through a Swiss challenge auction and has invited expressions of interest (EoIs) from entities interested in submitting counter bids for the asset on a full cash basis.

 

Tata Power: As per the company, the construction work of the Rs 6,900 crore Khorlochhu Hydropower Project in Bhutan has started, and the plant is likely to be commissioned by 2029.

 

GMR Airports: GMR Hyderabad Air Cargo has secured the prestigious Customs Trade Partnership Against Terrorism (CTPAT) certification. CTPAT, a voluntary program led by US Customs and Border Protection (CBP), is designed to strengthen the security of international trade by establishing a partnership between US Customs and the trade community.

 

SpiceJet: SpiceJet is planning to seek shareholders' approval for increasing the authorised share capital to infuse fresh share capital in the annual general meeting for the 2023-24 financial year on December 30.

 

UltraTech Cement: The company received a notice from the fair trade regulator CCI over its proposed acquisition of the South-based India Cements Ltd.

 

TVS Motor: The company has unveiled the TVS RT-XD4 engine platform, developed at its research and development center in Hosur, as per reports. The TVS RT-XD4 300 will be the first engine to be fully developed on this new platform.