Stocks to watch: Shares of companies like Ultratech, Paytm, Tata Power, Delta Corp, Biocon and others will focus on Monday’s trade.
Stocks to watch on December 9: Markets traded in a narrow range on Friday, closing almost flat despite a busy session. Today’s focus will be on companies like Ultratech, Paytm, L&T, Biocon, Alembic Pharma and others, following recent news developments.
Tata Power: Tata Power plans to significantly increase its capital expenditure (capex) over the next five years, aiming to spend between 2021 and 2025 at Rs. 50,000 crore is 2.5 times more. Praveer Sinha, MD and CEO, at their cell and module plant in Tirunelveli, Tamil Nadu.
Godrej Consumer Products: The company provided its outlook for Q3 of the current financial year, highlighting challenges in key business segments due to a tough demand environment and external pressures. In particular, soap, which accounts for about a third of its revenue, has been hit by a 20-30% year-on-year rise in palm oil and derivative prices.
Welspun Corporation: Welspun Corp has secured two major orders to supply HSAW-coated pipes for natural gas pipeline projects in the US. The orders won by its US plant took the cumulative value of orders received by the unit as of Q3 of FY25 to Rs. 7,000 crores has been done.
Suven Pharmaceuticals: Suven Pharmaceuticals acquired NJ Bio, Inc. has entered into an agreement to acquire 56% equity stake for $64.4 million. The deal includes both a primary equity infusion and a secondary acquisition, with Suven investing $15 million to support NJ Bio’s growth initiatives.
Delta Corp: Delta Corp has revised its previously approved demerger plan for its hospitality and real estate businesses. The updated plan focuses on optimizing the financial and operational aspects of the Dhargalim project in Goa, which is a key part of the company’s growth strategy.
Paytm: Paytm’s wholly-owned Singapore entity has sold its stake in Japanese fintech company PayPay to SoftBank Vision Fund 2 for Rs. 2,364 crore ready to sell. The transaction, which includes the sale of stock acquisition rights (SARs), is expected to close this month, subject to approvals, and will add to the parent company’s cash reserves.
Biocon: Biocon has received an EIR with VAI status from the US FDA for its API facility (Site 2), Bengaluru.
Easy Trip Planners: Easy Trip Planners Pflege Home Health Care Center in Dubai Rs. 30 crore for 49% stake in Jeewani Hospitality in Uttar Pradesh for Rs. 100 crores and is acquiring 50% stake to expand its hotel business and 49% stake in Australia. Planet Education Rs. 39.2 crore, entering the international education and student services market.
L&T: Larsen & Toubro (L&T) following the favorable judgment of the Central Excise and Service Tax Appellate Tribunal has recovered Rs. 702 crore custom duty demand has been successfully withdrawn.
Ultratech: India Cements is responding to the Competition Commission of India’s (CCI) notice on the Ultratech Cement deal. The company is confident that it can overcome any concerns raised by the CCI, as the cement market is highly competitive.
Star Health: Star Health has received a show cause notice from IRDAI for non-compliance of various rules and guidelines.
CEAT: CEAT is acquiring Michelin’s Camso brand off-highway tire and tracks business for $225 million.
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