Stocks to watch: Infosys, Tata Motors, LIC, HUL, MOIL, Allcargo Gati, CEAT

GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Friday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty traded up by 108 points or 0.51% at 21,425, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Thursday, the NSE Nifty 50 gained 104.90 points or 0.50% to settle at 21,255.05, while the BSE Sensex ended higher by 358.79 points or 0.51% to 70,865.10.

Stocks to Watch on December 22, 2023

Infosys

IT services giant Infosys announced a strategic five-year collaboration with leading automotive parts distributor LKQ Europe. The partnership aims to drive a comprehensive transformation of LKQ Europe’s business processes.

Life Insurance Company

The Department of Economic Affairs has granted a one-time exemption to a life insurance company, allowing it a 10-year window until May 2032 to achieve a minimum 25% public shareholding, starting from the date of listing.

Tata Motors

Tata Motors has obtained a no-objection certificate from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for the conversion of its differential voting rights shares to ordinary shares.

CEAT

CEAT has invested Rs 3 crore in its subsidiary, Tyresnmore Online, acquiring a 100% stake post-investment.

Kaynes Technology

Kaynes Technology successfully raised Rs 1,400 crore through a Qualified Institutional Placement (QIP) at an issue price of Rs 2,424 per share, indicating a 1.06% discount to the floor price.

HUL

The National Company Law Tribunal has granted approval for the voluntary liquidation of the entity Bhavishya Alliance Child Nutrition Initiative.

KPI Green

KPI Green has raised Rs 300 crore through a Qualified Institutional Placement (QIP) at an issue price of Rs 1,183 per share, reflecting a 4.98% discount to the floor price.

Allcargo Gati

Allcargo Gati approved raising up to Rs 500 crore through various instruments and sanctioned an amalgamation scheme involving the company, Allcargo Logistics, and their subsidiaries.

GMR Airports

The National Investment and Infrastructure Fund (NIIF) will invest Rs 675 crore in GMR Airports for the development of its upcoming greenfield airport in Bhogapuram, Andhra Pradesh.

Suven Pharma

Suven Pharma’s board approved the appointment of Himanshu Agarwal as Chief Financial Officer, effective from January 2, 2024. Subba Rao Purapalli is set to step down from the CFO position on the same date.

MOIL

MOIL reported a remarkable achievement in 2023, reaching a production capacity exceeding 16 lakh tones, the highest since 2019, and recording sales of over 14 lakh tones, marking the highest since 2007.