Indian benchmark indices kicked-off the week with severe selling pressure on Monday amid the HMPV scare and FIIs dumping Indian equities. BSE Sensex tumbled 1,258.12 points, or 1.59 per cent, to end at 77,964.99. NSE's Nifty50 crashed 388.70 points, or 1.62 per cent, to settle at 23,616.05. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, January 7, 2025:
Indo Farm Equipment: The commercial vehicle maker will make its Dalal Street debut on Tuesday after the company raised a total of Rs 260.15 crore via IPO, selling its shares for Rs 215 apiece between December 31 and January 02.
Bharti Airtel: The telecom major has entered into a share purchase agreement with iBUS Network and Infrastructure for the transfer of its entire 50 per cent stake in Firefly Networks. After the transfer of the 50 per cent stake, Firefly will cease to be a joint venture of the company.
Power Grid Corporation of India: The PSU power player has been declared the successful bidder for two projects to establish the interstate transmission system on a build, own, operate, and transfer (BOOT) basis. The projects comprise augmentation works at under-construction substations in Gujarat and Karnataka.
Coal India: The state-run coal miner has executed a non-binding MoU with IREL (India), a public sector undertaking, to cooperate and collaborate for the development (mining, extraction, refining, etc.) of mutually agreed assets of critical minerals, including mineral sands and rare earth elements (REE), by acquiring assets or sourcing raw materials domestically or internationally.
InterGlobe Aviation: The Principal Commissioner of Customs, Air Cargo Complex (Import), has imposed a penalty of Rs 2.17 crore on IndiGo. The customs officer has denied the duty exemption on the import of aircraft parts. The company is in the process of contesting this order before the appropriate appellate authority.
Vodafone Idea: The telecom company has entered into a share purchase agreement with iBUS Network and Infrastructure for the transfer of its entire 50 per cent shareholding in Firefly Networks, for Rs 4.5 crore. Post the transfer of shareholding, Firefly will cease to be a joint venture of the company.
Zydus Lifesciences: Sentynl Therapeutics Inc, a US-based biopharmaceutical company wholly owned by Zydus Lifesciences, and Fortress Biotech Inc, announced that the USFDA has accepted for filing and priority review Sentynl’s new drug application (NDA) for CUTX-101, the product candidate for the treatment of Menkes disease.
NMDC: The Steel Ministry has proposed the merger of KIOCL with NMDC to the Finance Ministry, suggested some media reports quoting sources. NMDC aims to export iron ore pellets from KIOCL after the proposed merger.
Bharat Petroleum Corporation: The oil marketing company has issued a clarification on news reports that Maharashtra Natural Gas (MNGL) is preparing to list through an initial public offering (IPO) of over Rs 1,000 crore. BPCL stated that the Board has given in-principle approval for the IPO, subject to regulatory and other approvals.
Ashoka Buildcon: The infra company's subsidiary, Ashoka Bowaichandi Guskara Road, has executed a concession agreement with the National Highways Authority of India (NHAI) for the development of a 4-lane Economic Corridor in West Bengal under the Hybrid Annuity Mode. The accepted bid project cost is Rs 1,391 crore.
Caplin Point Laboratories: The pharma company has received the establishment inspection report (EIR) from the USFDA for the recent inspection conducted at Caplin Steriles’ injectable and ophthalmic manufacturing facility at Gummidipoondi, Tamil Nadu. The unannounced USFDA inspection was conducted between August 5 and August 9 and concluded with zero 483 observations.
Nuvoco Vistas Corporation: The committee of creditors of Vadraj Cement has approved the company's Resolution Plan for Vadraj Cement. The company has received a Letter of Intent from the Resolution Professional and will make phased investments in Vadraj Cement over 15 months.
Akzo Nobel India: Parent company Akzo Nobel NV has requested the board of the company to explore steps for a potential sale of the company’s powder coatings business and its international research centre (R&D operations) to a separate indirect wholly owned subsidiary; and the potential acquisition of decorative paints intellectual properties by the company.
Vakrangee: The IT-enabled services company has renewed its agreement with the Bank of Baroda to continue offering business correspondent (BC) banking and comprehensive financial inclusion (FI) services across Pan India through Vakrangee Kendra outlets.
NESCO: The National Highways Logistics Management has declared the commercial services player as the highest bidder and has accepted its proposal for developing, operating, and maintaining Wayside Amenities in the South Zone on the Bengaluru-Chennai Expressway Corridor (Phase II) section on a lease basis.
Rudra Gas Enterprise: The Ministry of Corporate Affairs has approved the incorporation of the company's subsidiary, Rudra Global Green Energy.
Dynamic Services and Security: The company has received a work order worth Rs 476 crore from Orion Security Solutions.