Stocks To Watch: Grasim, Dr Reddy’s, ACC, Torrent Power, SKF India, Nazara Tech, Hikal, Aditya Birla Capital

Grasim Industries Ltd., Dr. Reddy’s Laboratories Ltd., and ACC Ltd. will be among the major stocks to watch on the first day of the trading session in 2024.

Grasim Industries commissioned an additional 1.23 lakh tonne of annual advanced materials capacity at the Bharuch plant in Gujarat, while Dr. Reddy’s global arm acquired 6.46% stake in Israel-based biotechnology company Edity Therapeutics for $1.97 per share to further develop its technology platform.

ACC said that it commissioned a cement manufacturing unit with a capacity of 1.0 MTPA at Ametha, Madhya Pradesh.

India's benchmark indices snapped its four-day record rally and closed the last session of 2023 lower on Friday.

However, the indices ended the year higher, with the NSE Nifty 50 gaining 19.42% and the S&P BSE Sensex rising 18.10%. All stocks of the Sensex ended with yearly gains in 2023 and only two stocks of the Nifty ended the year lower.

Overseas investors ended the year as net buyers of Indian equities for the third day in a row on Friday. Foreign portfolio investors mopped up stocks worth Rs 1,459.1 crore, while domestic institutional investors bought equities worth Rs 554.4 crore, according to provisional data from the NSE.

The Indian rupee settled 4 paise lower at Rs 83.21 against the U.S. dollar.

Most of Asian markets are closed today on account of New Year.

Wall Street’s final session of 2023 saw stocks take a breather after a rally that put the market on pace for its ninth straight week of gains—the longest winning streak since 2004, Bloomberg reported.

The S&P 500 fell 0.28%, while Nasdaq 100 declined 0.43% on Friday . Dow Jones Industrial Average settled 0.05% down on Friday.

Brent crude was trading 0.11% lower at $77.04 a barrel. Gold was down 0.13% at $2,062.98 an ounce.

• Grasim Industries: The company commissioned an additional 1.23 lakh tons of annual advanced materials capacity at the Bharuch plant in Gujarat. The total capacity of advanced materials is 2,46,000 tons per annum. The expansion shall facilitate the growth of the specialty chemical business.

• Dr. Reddy’s Laboratories: The company’s global arm acquired 6.46% of Israel-based biotechnology company Edity Therapeutics for $1.97/share to further develop its technology platform.

• ACC: The company successfully commissioned a cement manufacturing unit with a capacity of 1.0 MTPA at Ametha, Madhya Pradesh.

• Torrent Power: The company incorporated a wholly owned subsidiary for generating electricity from renewable sources in Gujarat.

• Hikal: The Gujarat Pollution Control Board imposed a fine worth Rs 17.45 crore for alleged violation of environmental laws.

• SKF India: The company has successfully acquired 26.74% of Sun Strength Renewables for Rs 2.31 crore.

• Edelweiss Financial Services: The company's unit Zuno General Insurance received a GST demand worth Rs 32.39 crore and penal interest of Rs 3.23 crore.

• Aditya Birla Capital: The timeline for the completion sale of a 50% stake in Aditya Birla Insurance Brokers has been extended till March 31, 2024, subject to receipt of the approval of the Insurance Regulatory and Development Authority of India.

• Nazara Technologies: The company’s arm signed agreements for subscribing to a convertible note of Freaks 4U Gaming GmbH at a consideration of Rs 33.26 crore to be paid in cash.

• Oil India: The company appointed Anfor Ali Haque as resident chief executive effective Jan. 1.

• Nippon Life India AMC: CFO Prateek Jain resigned from the position due to personal reasons.

• Strides Pharma Science: Shasun Enterprises LLP sold 2.5 lakh shares (0.27%) while Pace Stock Broking Services bought 2.5 lakh shares (0.27%) at Rs 637 apiece.

• Ramco Industries: Nalina Ramalakshmi sold 7.2 lakh shares (0.82%) while Ramco Cements bought 7.2 lakh shares (0.82%) at Rs 215 apiece.

• Innova Captab: Canara Robeco Mutual Fund bought 9 lakh shares (1.57%) at Rs 474.41 apiece and Invesco Mutual Fund bought 6 lakh shares at Rs 452.1 apiece.

• Aditya Vision: Sunita Sinha sold 1.3 lakh shares (1.08%) at Rs 3,463.34 apiece, Nishant Prabhakar sold 1 lakh shares (0.83%) at Rs 3,462.1 apiece while ASK Investment Managers bought 0.65 lakh shares (0.54%) at Rs 3,462.1 apiece.

• Azad Engineering: PCA Securities Investment Trust bought 3.39 lakh shares (0.58%) at Rs 703.40 apiece.

• Kolte-Patil Developers: Rajesh Anirudha Patil sold 11.4 lakh shares (1.49%), Sunita Milind Kolte sold 7.6 lakh shares (0.99%), Sunita Rajesh Patil sold 3.8 lakh shares (0.49%) at Rs 486 apiece.

• Seamec: Gentleman Products P Ltd sold 1.59 lakh shares (0.62%) at Rs 960.06 apiece, Padmashree INC sold 1.48 lakh shares (0.58%) at Rs 960.01 apiece, Puesh Kumar Gupta sold 1.83 lakh shares (0.72%) at Rs 960.02 apiece, Sunil Kumar Bhala (HUF) sold 1.51 lakh shares (0.59%) at Rs 960.05 apiece.

• VIP Industries: Promoter Kiddy Plast bought 4,150 shares on Dec. 28. The promoter group DGP Enterprises bought 4,400 shares on Dec. 28. Promoter Dilip G. Piramal bought 7,100 shares on Dec. 28.

• Paisalo Digital: Promoter group Equilibrated venture CFLOW bought 9.72 lakh shares between on Dec. 29.

• Nahar Spinning Mills: Promoter group Nahar Capital and Financial Services bought 22,000 shares between Dec. 27 and Dec. 28.

• Wardwizard Innovations and Mobility: Promoter group Wardwizard Solutions India sold 26 lakh shares on Dec. 27.

• Shalimar Paints: Promoter group Sarita Devi Jain sold 20,000 shares on Dec. 29.

• Ultramarine and Pigments: S Narayan sold 4,000 shares and Promoter Deepa Ajay sold 7,000 shares on Dec. 28.

• Cigniti Technologies: Promoter C.V.Subramanyam sold 13,815 shares on Dec. 26.

• Mangalore Chemicals and Fertilizers:  Promoter Zuari Agro Chemicals create a pledge for 10 lakh shares on Dec. 27.

• Century Textiles and Industries: To meet investors and analysts on Jan. 4.

• Tata Consultancy Services: To meet investors and analysts on Jan. 11

• Price band revised from 10% to 20%: PTC India Financial Services.

• Price band revised from 5% to 20%: Centum Electronics, JBM Auto, KSolves India.

• Moved into a short-term ASM framework: Mangalam Cement.

• Moved out of short-term ASM framework: Kiri Industries, NINtec Systems, PC Jeweller.

• Nifty January futures up by 0.49% to 21,885.95 at a premium of 154.55 points.

• Nifty January futures open interest down by 0.7%.

• Nifty Bank January futures up by 0.25% to 48,628.8 at a premium of 336.55 points.

• Nifty Bank January futures open interest down by 0.5%.

• Nifty Options Jan 4 Expiry: Maximum Call open interest at 22,000 and Maximum Put open interest at 21,500.

• Bank Nifty Options Jan  Expiry: Maximum Call Open Interest at 51,000 and Maximum Put Open Interest at 46,000.

• Securities in ban period: Hindustan Copper.

(Disclaimer: NDTV is a subsidiary of AMG Media Networks Limited, an Adani Group Company.)