Stocks in Focus: GIFT Nifty traded up 285 points or 1.40% at 20,638, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously, on Friday, the NSE Nifty 50 advanced 0.67% to settle at 20,267.90, while the BSE Sensex added as much as 492.75 points to 67,481.19.
“A new Bull Phase with a clear support for growth awaits the market following a strong mandate for the ruling party at the Center in 3 out of 5 state poll results. A stable political environment could further boost investors’ confidence and drive the markets higher, with the possibility of benchmark Nifty attaining 20,500-20,800 levels going ahead appears bright. Optimistic global trends including signs of foreign investors making a comeback in domestic markets are major factors that will drive the upward movement going forward,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Cochin Shipyard
State-run company has signed a memorandum of understanding with the Adani Group for the construction of green tugs following the Udupi-Cochin Shipyard (UCSL), the wholly owned subsidiary of Cochin Shipyard (CSL) delivered the first 62 T Bollard Pull Tug for Ocean Sparkle, an Adani Group company. Adani Harbour Services & Ocean Sparkle Limited owns around 100 Tugs and are the largest tug owner and operator in India, said the company.
Hindustan Aeronautics (HAL)
The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Shri Rajnath Singh on November 30, 2023, accorded approval in respect of Acceptance of Necessity (AoNs) for various Capital Acquisition Proposals amounting to Rs 2.23 lakh crore, of which, acquisition worth Rs 2.20 lakh crore (98% of total AoN amount) will be sourced from domestic industries, read the press release of the PIB.
In addition, the DAC accorded AoNs for procurement of Light Combat Helicopter (LCH) for Indian Air Force (IAF) & Indian Army and Light Combat Aircraft (LCA) Mk 1A for IAF from Hindustan Aeronautics Limited (HAL) under Buy (Indian-IDDM) category. The AoNs have also been accorded by the DAC for upgradation of Su-30 MKI Aircraft indigenously from HAL.
Alkem Laboratories
The US FDA had conducted an inspection at the Company’s API manufacturing facility located at Mandva from 27th November, 2023 to 01st December, 2023. At the end of the inspection, the Company has received Form 483 with three (3) observations. There is no data integrity observation, the company said in a regulatory filing.
Bajaj Healthcare
Rupesh Nikam, Chief Financial Officer, Whole-time Director (WTD) and Key Managerial Personnel (KMP) of the Company has tendered his resignation on December 1, 2023, due to personal reasons and the last date of his relieving will be intimated to the exchange in due course of time, the company said in the regulatory filing.
Siemens
Siemens Aktiengesellschaft Germany proposed to acquire 64,101,646 equity shares of Siemens India, corresponding to 18% of the equity share capital from Siemens Energy Holding B.V, the company said in a regulatory filing.
(With agency inputs.)
