The Indian stock markets are likely to open higher on Monday, with the GIFT Nifty trading 39 points or 0.16% higher at 24,001, indicating a positive start for both the NSE Nifty 50 and BSE Sensex. On Friday, the NSE Nifty 50 closed 63 points (0.27%) higher at 23,813, while the BSE Sensex fell by 227 points (0.29%) to end at 78,699. Here’s a look at the key stocks to watch out for in trade on December 30, 2024:
Vodafone Idea
Vodafone Idea (Vi) has received a significant relief with the waiver of bank guarantees for spectrum auctions conducted in 2012, 2014, 2016, and 2021. This waiver is conditional and applicable if the pro-rated value of spectrum used is lower than the payment made by the telecom operator on a net present value basis. This move is expected to reduce Vi’s financial burden and could lead to improved market sentiment towards the stock.
Adani Green Energy
Adani Green Energy has incorporated a new wholly-owned subsidiary, Adani Green Energy Sixty Eight Limited (AGE68L). AGE68L’s primary objective is to generate, develop, and distribute renewable energy through wind, solar, and other renewable sources. The new entity further strengthens Adani Group’s renewable energy footprint and aligns with the group’s commitment to expanding its clean energy portfolio.
Tata Motors
Tata Motors, the leader in India’s electric vehicle (EV) market, is focusing on improving the range of its EVs to stay ahead of competitors. The company’s upcoming electric passenger vehicles will offer a minimum range of 500 km on a single charge. This move could help Tata Motors solidify its dominance in the rapidly growing EV market and is expected to positively impact the stock.
Adani Enterprises
Adani Enterprises, the flagship company of the Adani Group, is poised for strong growth, with analysts projecting a CAGR of 17.5% in consolidated revenue and a 45.8% growth in net earnings from FY24 to FY27. These positive projections could make Adani Enterprises a key stock to watch, especially as the company continues to expand its business across diverse sectors.
Reliance Industries
Reliance Industries has acquired Karkinos Healthcare, an oncology-focused healthcare platform, for Rs 375 crore. This acquisition further strengthens Reliance’s position in the healthcare space, particularly in the growing oncology sector. As part of its strategic business ventures, the acquisition is expected to complement the company’s broader focus on technology-driven healthcare solutions.
Zydus Wellness
Zydus Wellness is facing a GST demand of Rs 56.33 crore along with applicable interest and penalty from the tax authorities. The demand is related to its wholly-owned subsidiary, Zydus Wellness Products (ZWPL), and the outcome of this legal matter could have an impact on the company’s short-term stock performance.
UltraTech Cement
UltraTech Cement has announced an Rs 851 crore investment to acquire an 8.6% stake in Star Cement, a major cement manufacturer in East India with a capacity of 7.7 million tonnes per annum. The acquisition, expected to further strengthen UltraTech’s market position in the region, has been approved by the company’s board. The move could bolster UltraTech’s growth prospects and market share in the Indian cement industry.
As we head into Monday’s trading session, these stocks are expected to be in focus, with potential market-moving news that could influence investor sentiment and market trends. Investors should monitor these developments closely as they could present both opportunities and risks in the coming week.
