On Friday, December 14, 2024, Sensex 30 ended on an upbeat mood. It gained 843.16 (or 1.04%) at the close of trade and settled at 82,133.12. The other broad index Nifty 30 also gained 219.60 (or 0.89%) to end the day at 24,768.30.
As trading will commence today (Monday, December 16, 2024) all eyes will be especially on a few stocks such as Reliance Industries, Tata Steel, NMDC, Jaiprakash Power Ventures and Aurobindo Pharma. The reasons are varied: from relief in court (for Jaiprakash Power Ventures) to buying stakes in an industrial area developer (Reliance Industries).
Jaiprakash Power Ventures
Jaiprakash Power Ventures Ltd (JPVL) has announced that Andhra Pradesh High Court has stayed penalties amounting on the company of about 1,334 crore imposed by the Department of Mines & Geology.
Reliance Industries
Reliance Industries has picked up 74% stake in an industrial area developer located in Mumbai. The size of the deal: Rs 1,628 crore. The developed comes against a backdrop when the warehousing sector is becoming very active. Industrial park developers are witnessing a jump in demand with steady economic growth.
NMDC Ltd
Life Insurance Corporation of India (LIC) has sold 59,119,234 shares in PSU iron ore producer NMDC, thereby pruning its holding by 2 percentage points. The sale was made through a number of market transactions between September 2023 to December 2024, the PSU insurance behemoth informed the bourses.
Tata Steel
Tata Steel has begun discussions with NMDC and Odisha Mining Corporation for tying up iron ore supplies with an eye to ramping up steel manufacturing capacity. The company is also about to operationalise 2 iron mines to secure raw materials. Now Tata Steel sources iron ore from six mines located in Jharkhand and Odisha.
Aurobindo Pharma
This Hyderabad-based drug maker is recalling products in the US market due to manufacturing issues. The US Food and Drug Administration (USFDA) has said that Aurobindo Pharma USA Inc, a subsidiary of Aurobindo Pharma is recalling more than 1 lakh bottles of Cinacalcet tablets that is used to treat hyperparathyroidism. The reason: “GMP Deviations: Presence of N-nitroso Cinacalcet impurity above FDA recommended interim limit.”
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Stocks in News today: Due to a number of reasons, the shares of major companies such as Reliance Industries, Tata Steel, NMDC, Jaiprakash Power Ventures and Aurobindo Pharma will be under close watch by investors on Monday, December 16. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
