Stocks to Watch: HUL, Coal India, Vedanta, SBI, Wipro, IndiGo, Zomato, and More

Domestic markets opened the week strong, building on Friday’s momentum with a nearly 1.5% gain. As the trading week progresses, several stocks are under focus today due to significant developments:

Key Stocks to Watch

Zomato

The food delivery giant has launched its Qualified Institutional Placement (QIP), setting the floor price at ₹265.91 per share.

Hindustan Unilever (HUL)

HUL's board has approved, in principle, the demerger of its ice cream business into a separate listed entity. Shareholders will receive proportionate shares in the new company post-approval.

Coal India

Coal India, transitioning to its own e-auction platform in January, has floated a tender inviting private players to conduct e-auctions for its subsidiaries over the next two years.

Vedanta

After delaying a dollar bond sale last week due to controversies surrounding Adani Group, Vedanta is set to proceed with a bond issuance aimed at raising $500 million.

Maruti Suzuki

India’s top car manufacturer has reached a major milestone of exporting 3 million vehicles to markets including Latin America, Africa, Asia, and the Middle East.

State Bank of India (SBI)

SBI plans to inject $1.5 billion into its international operations by the end of FY 2024-25, with $500 million from bonds and $1 billion from syndicated loans.

Tata Consumer Products

MD and CEO Sunil D’Souza anticipates easing food inflation and recovering consumer demand within the next two quarters.

HDFC Life

The company has reported a data breach and is collaborating with security experts to investigate and resolve the issue.

Wipro

Wipro has named Omkar Nisal as CEO of its Europe strategic market unit, effective immediately. Nisal will report directly to the company’s CEO and MD, Srini Pallia.

IndiGo

IndiGo and Japan Airlines will commence their codeshare partnership on December 16, expanding access to 18 Indian destinations for the Japanese carrier.

Other Noteworthy Developments

Edelweiss Financial Services: Exploring a minority stake sale in its mutual fund business.

Ashoka Buildcon: Received a ₹1,391 crore Letter of Award for a road project in West Bengal.

BHEL / Hitachi Energy India: Secured a contract for the Khavda Nagpur HVDC transmission project.

Lupin: Recalling over 600,000 bottles of blood pressure medication in the US for CGMP deviations.

Adani Group: GQG Partners, led by Rajiv Jain, reaffirmed their confidence in Adani despite recent allegations.

Market Highlights

The stock market is abuzz with updates, and investors are advised to monitor these developments closely. Please consult certified experts before making investment decisions.

Disclaimer: The views in this report are those of the experts and not of Bizz Buzz or its management.