The Indian stock market continued to climb for the second week in a row, nearing record highs due to positive market signals. Today’s focus will be on several stocks, including Trent, BEL, LTIMindtree, Ambuja Cements, Alembic Pharma, and Transport Corporation, due to recent news and developments.
Key Stocks to Watch:
- Transport Corporation: The company announced its first-ever buyback of equity shares, valued at up to ₹160 crore.
- Trent, BEL, LTIMindtree: Tata Group’s Trent and state-run Bharat Electronics (BEL) have been added to the Nifty 50 index, while LTIMindtree and Divi’s Laboratories have been removed.
- Vodafone Idea: Vodafone Idea has been removed from the Nifty 500 index and Nifty Midcap 100 as part of NSE’s semi-annual index reshuffle.
- Reliance Power: Anil Ambani has resigned from the boards of Reliance Infrastructure and Reliance Power following a SEBI order from February 2022.
- Ambuja Cements: GQG Partners purchased 17.1 million shares of Ambuja Cements through a block deal on Friday. Other buyers included Morgan Stanley, Norges Bank, and SBI Life Insurance.
- ONGC: ONGC has started production from its 5th oil well in the Krishna River Deepwater Block.
- Alembic Pharma: The company received US FDA approval for Betamethasone Valerate Foam, a treatment for scalp skin conditions.
- Ashoka Buildcon: Ashoka Buildcon was the lowest bidder for a Mumbai project worth ₹478 crore by the MMRDA.
- Karur Vysya Bank: The Reserve Bank of India has approved SBI Mutual Fund’s proposal to acquire a 9.99% stake in Karur Vysya Bank.
- JSW Energy: JSW Neo Energy, a part of JSW Energy, received a Letter of Award (LoA) for a 250 MW wind power project from Adani Electricity Mumbai.
- IDFC: IDFC received an income tax refund of ₹202.55 crore, including tax and interest, for the assessment year 2023-24.
- KEC International: The company won new orders worth ₹1,079 crore in its Transmission & Distribution and Cables businesses.
These stocks are set to make big moves today, so keep an eye on them for potential opportunities!
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