Stocks to Watch Out for on December 10: Syngene, Brookfield REIT, Metropolis Healthcare, Tata Motors, Insurance Stocks, Vodafone Idea, and More
At 08:06 AM, the GIFT NIFTY futures were trading at 24,709, reflecting a decline of 20.50 points, or 0.08%. This suggests that the NIFTY50 index is set to open 14 points higher.
Stock Markets
Market Update for December 10
The domestic equity market is anticipated to open flat on Tuesday, December 10. As of 08:06 AM, GIFT NIFTY futures were trading at 24,709, reflecting a decrease of 20.50 points (0.08%). This indicates that the NIFTY50 index is expected to open 14 points higher.
Global Market Insights
On the global front, Chinese stocks have surged in response to Beijing's new promises of rate cuts and measures to boost consumption. However, global stocks remain wobbly ahead of a significant US inflation report. Australia's central bank is expected to maintain its cash rate at 4.35% later today. Overnight, the S&P 500 fell by 0.6%, while futures dipped 0.1% in the Asian morning. Conversely, MSCI's broadest index of Asia-Pacific shares outside Japan rose by 0.3% led by a 1% gain in the Hang Seng index and a 2% increase in the blue-chip CSI300 index. Japan's Nikkei also rose by 0.4%.
Stocks to Watch Today
Here are some key stocks that may attract attention today:
- Bharat Forge: Announced the closure of its Qualified Institutional Placement (QIP), raising ₹1,650 crore by issuing 1.25 crore equity shares to institutional buyers. The issue price was set at ₹1,320 per share.
- Syngene International: Reports indicate that Biocon Ltd plans to sell a 2% stake in Syngene through block deals, with the indicative sale price at ₹825 per share, offering a discount to the current market price.
- Insurance Stocks: Share prices are expected to be in focus after the Life Insurance Council released November data recently.
- NHPC: The board is set to meet on December 12 to approve a revised borrowing plan for FY 2024-25.
- Brookfield REIT: Launched its QIP issue to raise up to ₹3,500 crore by issuing shares to institutional investors.
- Metropolis Healthcare: Announced the acquisition of Core Diagnostics, financing the 100% stake through a mix of cash and an equity swap totalling ₹246.8 crores.
- Vodafone Idea: The company’s board approved issuing up to 175.53 crore shares on a preferential basis to Vodafone Group entities aiming to raise up to ₹1,980 crore.
- Lupin: Life Insurance Corporation (LIC) has reduced its stake in Lupin, divesting 2.027% equity and bringing its shareholding down to 2.542%.
- Bharat Electronics: Announced additional orders worth ₹634 crore, bringing total orders for FY 2024 to ₹8,828 crore.
- JSW Steel: Reported consolidated crude steel production of 23.23 lakh tonnes in November, reflecting a 5% year-on-year increase.
- Bajaj Healthcare: Entered a definitive CDMO contract for 15 new APIs with UK/EU-based clients, adding to a prior contract for 15 molecules established in February 2024.
- IRB Infra: Reported a 23% year-on-year growth in toll collections amounting to ₹536 crore in November, attributed to increased travel and economic momentum.
- Tata Motors: Announced plans to raise prices of its passenger vehicle portfolio, including electric vehicles, by up to 3% from January 2025 to partially offset rising costs.
Stay tuned for more updates as the market opens!
