Stocks to Watch: Reliance Power, RVNL, Epack Durable, PB Fintech, Swiggy, M&M, IEX, and more
Here’s a quick look at stocks likely to be in focus in today's trade.
Indian markets are expected to open lower on Wednesday, December 04, as Asian shares began trading cautiously, influenced by political unrest in South Korea. The Kospi Index in South Korea dropped by as much as 2.3% on Wednesday.
Equities in Hong Kong, mainland China, and Tokyo also opened lower. Meanwhile, the South Korean won made some gains after losses in offshore trading. However, Western markets showed limited reaction to the developments overnight. The S&P 500 edged to a new record close on Tuesday, and the Nasdaq 100 gained 0.4%, building on Monday's record finish.
U.S. stock index futures are hovering in the marginally positive zone, with investors focusing on an upcoming speech by Federal Reserve Chair Jerome Powell for further guidance on interest rates.
The following stocks are expected to be in focus during today's trading session:
Defence Stocks: The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh, accorded Acceptance of Necessity (AoN) for 5 capital acquisition proposals amounting to over ₹21,772 crore on Tuesday, as per a statement from the Ministry of Defence.
According to the ministry, DAC AoN has approved the purchase of 31 new water jet fast attack crafts (NWJFACs) for the Indian Navy. These are designed to perform the task of low-intensity maritime operations, surveillance, patrol, and search and rescue (SAR) operations close to the coast.
RVNL: The company received a letter of acceptance from East Central Railway for the design, supply, erection, testing, and commissioning of traction substations with associated switching posts for upgradation work of the electric traction system from 1X25 to 2X25 KV AT feeding system in Gomoh - Patratu Section of the Dhanbad Division of East Central Railway.
Reliance Power: SECI on Tuesday said it has withdrawn the debarment notice issued to Reliance Power, enabling the Anil Ambani-led firm to participate in future tenders of the public sector entity.
Solar Energy Corporation of India Limited (SECI), which serves as the implementing agency for renewable energy projects, had on November 6 debarred Reliance Power Ltd and Reliance NU BESS Ltd from participating in any of its tenders for three years for allegedly submitting "fake documents".
PB Fintech: The company approved the foray into healthcare services by setting up a wholly owned subsidiary, PB Healthcare, the company informed on December 3. The new entity has sought approval to be named as 'PB Healthcare Private Limited' or 'PB Healthcare Services Private Limited' or any other name as may be approved by the Ministry of Corporate Affairs.
Swiggy: The company announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Tuesday, December 3, reporting a consolidated net loss of ₹625.5 crore driven by robust order growth in both its food delivery and quick commerce segments, compared to a loss of ₹657 crore in the corresponding period last year.
Its revenue from operations increased by 30 per cent YoY to ₹3,601.45 crore.
Mahindra and Mahindra: InterGlobe Aviation Ltd, which runs India's largest airline, IndiGo, has filed a trademark infringement case against Mahindra Electric Automobile Ltd in the Delhi High Court over the use of ‘6E’ in the automaker's upcoming electric car model, BE 6e, slated for deliveries in late February next year.
IndiGo claims that ‘6E,’ a key element of its branding and call sign, is protected under trademark laws and has sought an injunction against Mahindra from using the designation.
Epack Durable: The company announced in a statement that its Bhiwadi facility was searched by the Jaipur Customs on December 2, 2024.
Chavda Infra: The company informed the exchanges on Tuesday that the Income Tax Department conducted a search at its registered office and the residences of its promoters on November 29, 2024. The search concluded at 11:30 AM on December 3, 2024.
Indian Energy Exchange: The company achieved an electricity traded volume of 9,689 MU in November 2024, marking a 15.7% year on year increase. During the month, IEX traded 5.46 lakh renewable energy certificates, recording a 27.7% year on year decrease.
Kaynes Technology: The company announces the acquisition of a controlling stake (54%—Fifty-Four Percentage) by its wholly owned subsidiary Kaynes Holding Pte. Ltd. (“Kaynes Singapore”) in Sensonic GmbH, Austria, by way of subscription of shares.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
- Top Gainers
- Top Losers
- 52 Week High