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Stocks in Focus: SJVN, Adani Green Energy, LIC and Others

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

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, ended higher on Tuesday, supported by the surge in some Asian stocks. Nifty settled 91.95 points or 0.43% higher at 21,441.35, while Sensex gained 0.32% or 229.84 points to settle at 71,336.80.

Here are some stocks likely to be in focus on December 27.

Life Insurance Corporation (LIC): The board of the life insurer has approved its proposal to set up a Branch Office of the Corporation at the International Financial Services Centre, GIFT City, Gandhinagar, Gujarat.

Maithan Alloys: The manganese and ferro-alloy seller has inked an agreement to acquire 10 lakh shares of the National Stock Exchange of India (NSE) at a price consideration of Rs 324 crore. The share purchase will be completed by March 31, 2024.

Vishnu Prakash R Punglia: The integrated EPC company has received a letter of award for a Rs 899 crore order from the Uttarakhand government for various development projects.

Piramal Enterprises: The diversified NBFC has invented Rs 289.60 crore in its consumer products unit, Piramal Consumer Products, through a rights issue. The latter has acquired Piramal Tower for Rs 875 crore. 

Adani Green Energy: The renewable energy company is set to receive a Rs 9,350 crore investment from its promoters through preferential share warrants for Rs 1,480.75 per share.

Seamec: The shipping company signed a Memorandum of Understanding (MoU) with HAL Offshore for the Charter Hire of Offshore Support Vessel ‘Sea Pearl’ at the rate of $8,750/per day for three years, aggregating to $9.59 million.

Axis Bank, Zee Learn: The lender has filed a petition before the National Company Law Tribunal (NCLT), Mumbai, seeking insolvency proceedings against Zee Learn. The latter said it was compiling information to verify the facts claimed in the petition.

SJVN: SJVN Green Energy, a hydroelectric power generation company subsidiary, has won a 100 MW solar power project from Gujarat Urja Vikas Nigam at an estimated tentative cost of Rs 550 crore.

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