Stocks To watch- M&M, Delta Corp, IRCTC, BEML, Lupin, Power Fin Corp

Stocks To watch: M&M, Delta Corp, IRCTC, BEML, Lupin, Power Fin Corp

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Wednesday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded down by 29 points or 0.13% at 21,569.50 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 31.85 points or 0.15% to settle at 21,544, while the BSE Sensex ended higher by 30.99 points or 0.04% to 71,386.22.

Stocks to Watch on January 10, 2024Mahindra and Mahindra

Mahindra and Mahindra announced a strategic collaboration with US-based automobile technology company Mobileye. The partnership aims to explore the development of a full-stack autonomous driving system and the implementation of software solutions in Mahindra’s vehicles.

Power Finance Corp

Power Finance Corp has received a no-objection letter from the Reserve Bank of India to establish a finance company in the International Financial Services Centre located in GIFT City, Gujarat.

Delta Corp

Delta Corp witnessed a consolidated year-on-year decline in Q3FY24 financials. The company’s revenue dropped by 15.3% to Rs 231.7 crore, EBITDA fell by 45.6% to Rs 55.7 crore, and net profit declined by 59.3% to Rs 34.5 crore.

Polycab

Polycab India refuted media reports alleging tax evasion, stating that the company has not received any communication from the income-tax department regarding the outcome of the search.

Lupin

Lupin, a pharmaceutical major, received approval from the US Food and Drug Administration (USFDA) for the launch of Bromfenac Ophthalmic Solution, 0.07% in the United States.

BEML

BEML has bagged an order worth Rs 329.87 crore from the Ministry of Defence for the supply of Mechanical Minefield Marking Equipment Mark-II.

Shyam Metalics

Shyam Metalics And Energy successfully raised Rs 1,385 crore through a qualified institutional placement (QIP) at Rs 576 per share, indicating a 9.70% discount to the current market price.

Steel Strips Wheels

Steel Strips Wheels received approval from the National Company Law Tribunal (NCLT) for the acquisition of AMW Autocomponent. The company invested Rs 138.15 crore through equity and an inter-corporate loan.

IRCTC

The Railway Ministry has nominated Sanjay Kumar Jain as the Chief Managing Director of IRCTC (Indian Railway Catering and Tourism Corporation).

LIC

Life Insurance Corporation (LIC) has increased its stake in Navin Fluorine from 4.8% to 5%.

KIOCL

KIOCL has temporarily suspended operations at its Mangalore pellet plant due to the non-availability of iron-ore fines.

Karnataka Bank

Karnataka Bank has partnered with Digivriddhi to offer a range of financial services specifically tailored to the needs of dairy farmers and milk societies.