New Delhi: The Sensex on Thursday tanked 422.59 points or 0.54 per cent to 77,155.79, while the Nifty was down 168.60 points or 0.72 per cent to 23,349.90. Adani group stocks led the decline in Indian indices after the US Securities and Exchange Commission (SEC) as well as the US Department of Justice alleged that the ports-to-retail conglomerate paid kickbacks to Indian government entities for lucrative solar power supply contracts.
The escalation of tensions in the Russia-Ukraine conflict also spiked investor worries. However, FIIs’ selling moderated to an extent, according to market data. Here are stocks that are likely to remain in focus on Friday, November 22, 2024:
Adani Group stocks: Shares of Adani Group-listed companies are likely to remain in focus on Friday after the conglomerate courted controversy for alleged payment of kickbacks to Indian entities from the US SEC and a US district court.
Afcons Infra: The company emerged as the lowest bidder in a Rs 1,274 crore project tendered by the Uttarakhand PSU UPDCC.
BEML: The state-owned comoany said it had secured a Rs 246.78 crore order from Central Coalfields (CCL) to supply rear dump trucks used for mining. BEML will supply 48 BH60M rear dump trucks, and spare parts, apart from after-sales service, it said.
Hyundai Motor India: The carmaker plans to set up 2 renewable energy plants at its factory in Tamil Nadu to ensure a transition to 100 per cent renewable power.
LIC: The company hiked it stake in LTI Mindtree to 7.034 per cent from 5.03 per cent during March-November 2024.
Reliance Capital: The DPIIT gave its nod to Hinduja group-owned IndusInd International Holdings (IIHL) to acquire Reliance Capital, according to people familiar with the matter.
SJVN: the comoany inked an agreement with the Rajasthan State Energy Department for the development of a renewable energy project with 5 GW pumped storage capacity and 2 GW floating solar project capacity.
Tata Power: The company inked an initial agreement with the Asian Development Bank (ADB) to consider $4.25 billion financing for multiple strategic projects, it said in an exchange filing.
Telcos: Reliance Jio, Bharti Airtel and Vodafone Idea reported a combined shrinkage in subscriber base by more than 1 one crore in September, according to TRAI data. State-owned telco BSNL added nearly 8.5 lakh mobile users during the month.
Vedanta: The mining giant cancelled plans for a dollar bond sale after the controversy around Adani Group in US markets which led the latter to axe a $600 million dollar bond sale.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.)
Stocks to Watch: From Adani Group to Vedanta, here are stocks that are likely to remain in focus on Friday, November 22, 2024. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
