Stocks in focus today: Gift Nifty is higher and trading at a premium of 27.50 from Nifty Futures close on Tuesday. This indicates a flat-to-positive start for the markets.
A day after benchmark indices Sensex and Nifty witnessed narrow-range activity, stock markets are expected to begin today’s session with a mildly positive yet cautious bias. While the Nifty closed 5 points higher, the Sensex was down 43 points in yesterday’s session. Meanwhile, Gift Nifty is higher and trading at a premium of 27.50 from Nifty Futures close on Tuesday. This indicates a flat-to-positive start for the markets. On the institutional front, Foreign Institutional Investors (FIIs) turned net sellers on December 23 and offloaded equities worth Rs 1,794.80 crore, while DIIs extended their buying streak with net purchases of Rs 3,812.37 crore. In this backdrop, there are some stocks that are likely to be in focus today. Let’s have a look at them.
NHPC
Shares of India’s largest hydropower company NHPC will be in focus as its much-delayed 2,000 MW Subansiri hydropower project along the Assam-Arunachal Pradesh inter-state boundary started commercial production partially. The commercial production has begun after a delay of 13 years from the original completion schedule.
Belrise Industries
Belrise Industries will be in focus as SBI Mutual Fund and BlackRock has bought a combined stake of 6.56 per cent from a promoter entity of the automotive systems manufacturer for about Rs 897 crore through open market transactions.
Coal India
Coal India has approved the stock market debut of South Eastern Coalfields Ltd (SECL) – a wholly owned subsidiary of mining major Coal India Ltd (CIL) – with the latter’s board of directors according in-principle approval for the listing.
Ceigall India
EPC player Ceigall India has secured a Rs 550-crore solar project under the PM-KUSUM Yojana in Madhya Pradesh. The order has been placed by Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for setting up solar PV-based power generating stations with an aggregate capacity of 130 MW (AC) under the C component of the scheme.
GAIL
State-owned gas utility GAIL (India) Ltd on Tuesday said it has signed a memorandum of understanding with the Chhattisgarh government for exploring the development of a greenfield gas-based fertiliser project in the state.
Tata Motors
Tata Motors Passenger Vehicles has announced that it will roll out five new electric vehicle models, including the premium product range Avinya, and invest up to Rs 18,000 crore by 2029-30, as it looks to retain a dominant market share of 45-50 per cent in the country’s growing electric vehicle segment.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
