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Sensex, Nifty rose after RBI rate cut; Biocon to merge Biologics, IndiGo shares fell on flight chaos, Adani Power eyes 24 GW expansion, HFCL wins export order.
Stocks To Watch Today, December 8
Stocks To Watch, Monday, December 08: Benchmark indices ended Friday (December 5) on a firm note, boosted by the RBI’s rate cut that revived sentiment and added fresh momentum to the market. Gains held steady through the session, helped by a better growth outlook and supportive global cues. At close, the Sensex rose 447.05 points (0.52%) to 85,712.37, while the Nifty climbed 152.70 points (0.59%) to 26,186.45.
Gift Nifty on Monday was trading flat at 26,318.50 around 8:22 AM.
The following stocks will be in focus today for varied reasons:
Biocon Share Price
Indian biopharmaceutical company, Biocon, has announced its plan to merge Biocon Biologics Limited (BBL) as wholly owned subsidiary. According to the press release, Biocon will acquire minority stakes of BBL from Mylan, Serum Institutes Life Sciences, Tata Capital Growth Fund II and Activ Pine LLP in a share swap deal and cash transfer.
“Approved the acquisition of the equity shares of Biocon Biologics Limited (“BBL”) by the Company, held by: (a) Mylan Inc. (“Mylan”); (b) Serum Institute Life Sciences Private Limited (“Serum”); (c) Tata Capital Growth Fund II (“TCGF”); and (d) Activ Pine LLP (“Activ Pine”) (collectively referred as “Selling Shareholders/Proposed Allotees”) (“Proposed Transaction”),” Biocon said in the filiing.
InterGlobe Aviation (IndiGo)
The turmoil and chaos ensued following the mass level flight cancellations and delays, which had a great shock to the shares of IndiGo, which has fallen over 10 per cent over the past one week. The carrier is working to restore the operations after a stark warning from DGCA.
Adani Power Share Price
Adani Power is betting big on the future of thermal energy, far ahead of any private-sector rival. The company plans to add nearly 24 GW of new thermal capacity by FY32 — roughly 30% of all additions India expects in that period. For this, it has set aside Rs 2 lakh crore, which it calls the largest private-sector capex in the thermal space.
If the plan stays on track, Adani Power’s thermal portfolio will jump from 18.15 GW today to 41.87 GW by FY32. In terms of ambition, only state-run NTPC is ahead, with a target of adding 30 GW by FY32.
ITC Hotels Share Price
British American Tobacco (BAT) on Friday sold a 9% stake in ITC Hotels for Rs 3,820 crore, trimming its holding to 6.3% from 15.3% earlier. In a regulatory filing, the maker of Dunhill and Lucky Strike said it had completed the block trade of 187.5 million shares through an accelerated book-building process. The final sale size is larger than the 145.8 million shares BAT had initially planned to offload, as per a term sheet reviewed by FE on Thursday.
Zomato (Eternal) Share Price
A major block deal is lined up in Eternal on Monday, December 8, with an institutional investor likely to sell up to 0.5% equity, CNBC-TV18 reported. The deal size is expected to be up to Rs 1,500 crore, with a floor price of Rs 289.5 per share.
HFCL Share Price
HFCL has bagged export orders worth $72.96 million (Rs 656.10 crore) for supplying optical fibre cables. The orders were placed with the company’s overseas wholly owned subsidiary by an international client. As per the disclosure, the contracts follow standard terms and require HFCL to deliver optical fibre cables tailored to the customer’s specifications.
Ola Electric Share Price
The company has started large-scale deliveries of vehicles powered by its new 4,680 Bharat Cell. The S1 Pro+ (5.2 kWh) is the first model to feature this locally developed battery pack, which promises better range, stronger performance, and improved safety.
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