On November 28, 2024, several stocks are poised to attract investor attention due to significant developments and market movements. Here’s a look at the key stocks to watch today:
1. Vedanta Resources
Vedanta has announced a substantial $2 billion investment in Saudi Arabia aimed at establishing copper-processing facilities. This initiative will support the kingdom’s ambition to become a leading global mining and metals hub. The plan includes constructing a smelter and refinery with an annual capacity of 400,000 metric tonnes, alongside a facility for producing 300,000 tonnes of copper rods annually, crucial for electric cable manufacturing.
2. Dabur India
Dabur is under scrutiny after receiving a demand order of ₹320.6 crore from the CGST Commissionerate in Chandigarh related to tax compliance. The company has clarified that this order will not disrupt its operations, and any financial impact will be limited to the final tax liability and associated interest.
3. Siemens India
Siemens has reported impressive Q4 results, showcasing a 45.4% year-on-year increase in net profit, reaching ₹830.7 crore compared to ₹571.3 crore in the same quarter last year. Additionally, revenue from operations increased by 11.2%, totaling ₹6,461 crore.
4. GE Vernova
The promoter of GE Vernova has exercised the green shoe option in its offer for sale (OFS), increasing the total offer size to approximately 21.45 million equity shares, which is about 8.38% of the company’s equity capital. The base offer consists of 14 million shares, with an additional 7.45 million shares available under the green shoe option, priced at ₹1,550 per share.
5. Exide Industries
Exide Industries has made a strategic investment of ₹99.99 crore into its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), through a rights issue, maintaining its full ownership stake of ₹3,052.24 crore in EESL, which focuses on lithium-ion battery manufacturing for electric vehicles.
6. Ultratech Cement
Ultratech Cement has approved the allotment of ₹1,000 crore worth of unsecured redeemable non-convertible debentures (NCDs) with a tenure of ten years at an interest rate of 7.22%.
7. Kotak Mahindra Bank
The Competition Commission of India (CCI) has approved Kotak Mahindra Bank’s acquisition of Standard Chartered Bank India’s personal loans portfolio for ₹4,100 crore, enhancing Kotak’s position in the personal loans segment.
These stocks reflect significant corporate actions and financial results that could influence trading strategies today. Investors should consider these developments while making informed decisions in the market.
Disclaimer: This blog is intended for educational purposes only and does not constitute investment advice. Always consult with a financial advisor before making investment decisions.