As the Indian stock market opens on December 3, 2024, investors are keenly observing several key stocks that are likely to impact trading today. Amid mixed global cues, the GIFT Nifty futures are trading flat at 24,424, while the BSE Sensex and NSE Nifty50 have shown positive movement in the previous session. Here’s a look at the stocks that will be on traders’ and investors’ radars.
Market Overview
Recent Performance
In the last trading session, the BSE Sensex added 445.29 points (0.56%) to settle at 80,248.08, while the NSE Nifty50 finished at 24,276.05, rising 144.95 points (0.6%). This upward trend indicates a recovery in the market, driven by heavyweight stocks.
Key Stocks to Watch
1. Adani Group Stocks
Adani Group stocks are under scrutiny as Bangladesh has halved its electricity imports from Adani Power due to lower winter demand and ongoing payment disputes. This development may affect investor sentiment regarding Adani’s operations and future contracts.
- Key Concern: Payment delays and reduced supply to Bangladesh.
2. Adani Ports and Special Economic Zone (APSEZ)
APSEZ has received a credit rating upgrade for Gopalpur Ports Limited from “BBB” (RWP) to “AA/Stable” by CareEdge. This positive news may bolster investor confidence in APSEZ as it continues to expand its portfolio.
- Rating Upgrade: From “BBB” to “AA/Stable”.
3. Cipla
Cipla’s promoters have sold a 1.72% stake for ₹2,111 crore through open market transactions. This move has attracted significant investments from major global firms, including Singapore government entities and international banks.
- Stake Sale: Promoters sold shares worth ₹2,111 crore.
4. Coal India
Coal India reported a 2.4% increase in coal production during the April-November period, reaching 471 million tonnes. This growth is crucial as Coal India accounts for over 80% of domestic coal production.
- Production Growth: Increased to 471 million tonnes.
5. Axis Bank
Axis Bank is currently awaiting clarifications from the Reserve Bank of India regarding its subsidiary, Axis Finance. The outcome of this regulatory review could influence the bank’s operational strategy moving forward.
- Regulatory Clarification: Awaiting RBI’s decision on Axis Finance.
6. Tata Motors
Tata Motors has launched a registered vehicle scrapping facility in Pune named ‘Re.Wi.Re—Recycle with Respect’. This initiative aims to dismantle up to 21,000 end-of-life vehicles annually, enhancing sustainability efforts.
- New Initiative: Launch of vehicle scrapping facility in Pune.
7. State Bank of India (SBI)
SBI plans to open 500 new branches across India this financial year, with 135 branches already operational as of October 31, 2024. This expansion strategy reflects SBI’s commitment to increasing its footprint in the banking sector.
- Branch Expansion: Plans for 500 new branches.
8. Swiggy
Swiggy has expanded its 10-minute food delivery service, Bolt, to over 400 cities and towns across India, indicating strong growth in its operational capabilities and customer reach.
- Service Expansion: Bolt now available in over 400 locations.
9. Torrent Power
Torrent Power announced a qualified institutional placement (QIP) at a floor price of ₹1,555.75 per share as part of its plan to raise up to ₹5,000 crore in one or more tranches.
- Fundraising Plan: QIP for up to ₹5,000 crore.
10. Nazara Technologies
Nazara Technologies’ board has approved five investments totaling ₹196 crore, including a full acquisition of Absolute Sports, which owns Sportskeeda. This move is part of Nazara’s strategy to expand its gaming portfolio.
- Investment Approval: ₹196 crore for acquisitions.
Conclusion
As traders prepare for today’s market session, these stocks will be closely watched due to their recent developments and potential impact on market dynamics. Investors should remain vigilant and consider these factors when making trading decisions. Disclaimer: This article is for informational purposes only and does not constitute financial advice or recommendations regarding stock purchases. Readers should conduct their own research or consult with financial advisors before making investment decisions related to any stocks mentioned herein.
