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Stocks in Focus: Adani Enterprises, Zee Entertainment, Eicher Motors and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Tuesday. Indices are expected to open on a similar positive note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex closed with losses on Monday, ending their two-day winning streak. Nifty tanked 197.80 points or 0.91% to settle at 21,513, while Sensex declined 0.93% or 670.93 points to 71,355.22.

Here are some stocks that are likely to remain in focus on January 9.

Eicher Motors: Royal Enfield, a unit of the automobile company, has inked a non-binding Memorandum of Understanding (MoU) with the Tamil Nadu government, committing to invest around Rs 3,000 crore over eight years in the development of greenfield and brownfield projects.

BEML: The public sector company has bagged a Rs 329.87 crore order from the Defence Ministry to supply Mechanical Minefield Marking Equipment Mark-II.

Gujarat Mineral Development Corp (GMDC): The state-owned mining company has received environmental clearance from the Ministry of Environment, Forest, and Climate Change for the capacity expansion at its Surkha North Lignite mines.

Zee Entertainment: According to a Bloomberg report, Sony Group is planning to call off the $10 billion merger pact of its India unit with Zee Entertainment.

Aurobindo Pharma: The US Food and Drug Administration (FDA) conducted an inspection at the pharma company’s formulation manufacturing facility unit VI B in Chitkul, Sangareddy, Telangana, from September 22 to 29. The FDA has classified the facility as ‘Voluntary Action Indicated’ in the establishment inspection report. 

Bajaj Auto: The board of the automotive manufacturing company has approved a Rs 4,000-crore buyback of up to 40 lakh fully paid-up equity shares via a tender offer at a price of Rs 10,000 per share. 

Adani Enterprises: The Gautam Adani-led company’s step-down subsidiary, Mumbai International Airport Ltd (MIAL), has won the arbitration case against the Airports Authority of India. MIAL has obtained relief from a panel of the Arbitral Tribunal from making monthly annual fee payments for the period between March 13, 2020, and February 28, 2022.

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