Kolkata: On Thursday, Dec 11, a lot of buying was seen in banking, energy and auto stocks. Thanks to the bullishness, both Sensex 30 and Nifty 50 reversed a three-day slide to end in the green on Thursday, Dec 11. Sensex ended at 84,818, up 426 points, while Nifty closed at 25,898, up 140 points. As many as 21 stock in the Sensex 30 basket and 39 of the Nifty 50 stocks recorded gains. But the rupee dived to a new low against the US Dollar. Today investors would keep a few stocks such as Vedanta, Tata Power and Rama Steel Tubes under watch.
Why Tata Power, Vedanta and Rama Steel Tubes?
Tata Power
The company has received an offer from REC Power Development and Consultancy. Under this agreement, Tata Power will acquire the Jejuri–Hinjewadi Power Transmission SPV for Rs 155.78 crore. The SPV includes approximately 115 km of 400 kV double circuit lines and GIS line bay extensions at both locations.
Vedanta
The Anil Aggarwal-controlled company has been declared the successful bidder for the Genjana Nickel, Chromium, and PGE blocks. This is part of the Critical Mineral Auction (Tranche III), which will further strengthen the company’s critical mineral portfolio.
Rama Steel Tubes
The company has announced plans to acquire Automech Group for Rs 296 million. This will enable the company to enter high-value engineering services and strengthen its presence in the GCC and MENA regions.
Other stocks
Piramal Pharma
The US FDA conducted a GMP inspection of the company’s Lexington (Kentucky) unit between December 3–10. At the end of the inspection, the agency issued four observations under Form 483. These relate to procedural improvements and fall under the VAI (Voluntary Action Indicated) category.
Infosys
The company has completed its Rs 18,000-crore share buyback, extinguishing 10 crore shares. Also Shriyas Shibulal reduced his stake to 0.44% by selling as many as 19.92 lakh shares. Bhairavi Madhusudan Shibulal sold 5.42 lakh shares, reducing his stake to 0.12%. These transactions raised approximately Rs 317 crore and Rs 86.21 crore, respectively.
RRP Defense
RRP Defense has announced a partnership with Israel’s Meprolight Company. Meprolight is a global leader in electro-optics, night vision, and weapon sight systems.
Honasa Consumer
Honasa Consumer has announced the acquisition of a 95% stake in BTM Ventures (Reginald Men’s parent company). The deal is at an enterprise value of Rs 195 crore. The remaining 5% will be acquired after 12 months, based on established criteria.
Cyient
Cyient has acquired Abu Dhabi & Gulf Computer Est. (ADGCE). This will help the company better serve clients in the energy, utilities, transportation, and connectivity sectors.
Firstsource Solutions
The company’s subsidiary has completed the acquisition of UK-based Pastdue Credit Solutions (PDC) for GBP 22 million. PDC operates in collection and recovery services.
Kirloskar Ferrous
The company’s plant in Hiriyur, Karnataka, is still closed for maintenance and repairs.
NBCC (India)
NBCC has received a project management consultancy (PMC) order worth Rs 255.50 crore from NALCO. It also received a PMC order worth ₹33.89 crore from SAIL Bokaro.
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