Stocks to Watch: Coal India, Cochin Shipyard, ONGC, Tata Motors, DLF, and more
Here’s a quick look at stocks likely to be in focus in today's trade.
Stock market today: Indian markets are expected to open lower on Monday, December 02, following a series of discouraging developments. These include a weak Q2 FY25 GDP print, which marked a seven-quarter low, mixed auto sales figures from major manufacturers, and President-elect Donald Trump’s threat to impose 100% tariffs on BRICS nations.
According to market experts, volatility is expected to persist this week, driven by key U.S. economic data releases, including job openings, the ADP employment report, and the payrolls report. Notably, Federal Reserve Chair Jerome Powell is scheduled to speak on Wednesday, alongside other Fed officials.
Domestically, attention will turn to the RBI Monetary Policy Committee (MPC) meeting from December 4 to 6, with the rate decision expected on December 6 at 10 a.m. On the other hand, geopolitical tensions, particularly the ongoing Russia-Ukraine conflict, continue to weigh on market sentiment and crude oil prices.
The following stocks are expected to be in focus during today's trading session:
Coal India: Eastern Coalfields Ltd, a subsidiary of Coal India, on Friday announced a hike in the add-on price of coal in the Rajmahal area of Jharkhand to ₹700 per tonne from ₹450, which will earn an additional ₹300 crore revenue to the company.
The revision, effective from November 30, reflects adjustments in logistics costs, which are now being passed on to consumers, company officials said. The hike is expected to generate around ₹300 crore in incremental annual revenue for ECL, contributing significantly to the company's financials.
Cochin Shipyard: The Ministry of Defence signed a contract with Cochin Shipyard Limited on Saturday for Short Refit and Dry Docking (SRDD) of INS Vikramaditya at an overall cost of Rs. 1207.5 Cr, the Ministry of Defence said in a release on Saturday.
As per the release, the estimated contract value for Short Refit and Dry Docking (SRDD) of INS Vikramaditya is above ₹1,000 crore.
DLF: Realty major DLF joint venture firm DCCDL has sold an IT park in Kolkata to Primarc and RDB group for ₹637 crore to monetise the rent-yielding commercial asset.
DLF Cyber City Developers Ltd. (DCCDL), a joint venture firm between DLF Ltd. and Singapore sovereign wealth firm GIC, owns a large portfolio of commercial assets (office complexes and shopping malls), mainly in Delhi-NCR and Chennai.
DLF owns 66.67 per cent stake, while GIC owns 33.33 per cent in the DCCDL.
Oil and Natural Gas Corporation: ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has completed the acquisition of Norwegian firm Equinor's stake in an Azerbaijan oilfield and an associated pipeline for USD 60 million, the firm said in a statement.
OVL "has completed the acquisition of 0.615 per cent participating interest (PI) in the offshore Azeri Chirag Gunashli (ACG) field in Azerbaijan from Equinor. This also includes the acquisition of 0.737 per cent shares of Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly owned subsidiary ONGC BTC Limited," a company statement said.
KEC International: The company secured multiple orders worth ₹1,040 crore in its Transmission and Distribution (T&D) business in international markets. The orders include the supply of towers, hardware, and poles for projects in the Americas, while another order includes 220 kV transmission lines in the Commonwealth of Independent States (CIS).
TVS Motor: TVS Motor Company on Sunday reported a 10 per cent rise in total sales at 4,01,250 units in November compared to 3,64,231 units in the same month last year. Total two-wheeler sales were up 12 per cent at 3,92,473 units last month as against 3,52,103 units in November 2023, the company said in a statement.
Tata Motors: The company on Sunday reported a marginal increase in overall sales at 74,753 units in November as compared to 74,172 units in the same month last year. Total domestic sales were up 1 per cent at 73,246 units last month as against 72,647 units in November 2023, Tata Motors said in a statement.
Total passenger vehicle (PV) sales, including EVs, were at 47,117 units as compared to 46,143 units in the year-ago month, up 2 per cent, it added.
Other stocks likely to be in focus during today's trade include Hero MotoCorp, Maruti Suzuki, H.G. Infra Engineering, Dixon Technologies, RVNL, and Lupin.
(With inputs from PTI)
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