GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded lacklustre as the index was trading 37 points or 0.15% lower at 24,312 indicating a lower start for domestic indices NSE Nifty 50 and BSE Sensex on Tuesday. Previously, on Monday, the NSE Nifty 50 closed the session 315 points or 1.32% higher at 24,222, while the BSE Sensex jumped 993 points or 1.25% to close at 80,110.
Stocks to watch on November 26, 2024
Wipro
Wipro has appointed Omkar Nisal as the Chief Executive Officer of its Europe Strategic Market Unit (SMU), effective immediately. Omkar will report to Srinivas Pallia, CEO and managing director, and will also join Wipro’s Executive Board. He succeeds Pierre Bruno, who is stepping down from the role.
Hindustan Unilever
Hindustan Unilever (HUL) announced on Monday that its board of directors has granted in-principle approval to demerge its ice cream business into a separate listed entity.
GQG Partners
GQG Partners issued a statement maintaining confidence in the group companies’ fundamentals. “As the facts currently stand on 21 November, we do not see these actions as having a material impact on these businesses. These businesses operate critical infrastructure regulated by the Indian government,” it said while maintaining that there will be no changes in its investment outlook at present.
Adani Group
There have been worries that the current US bribery charges against chairman and founder Gautam Adani, his nephew Sagar Adani, and six others could impact Adani Group’s cash flow. The conglomerate has, however, announced that it has enough cash balances to exceed long-term debt repayments for the next 28 months. Portfolio-level cash balances stood at $6.33 billion.
Vedanta Resources
Vedanta Resources, which postponed a planned sale of dollar bonds last week after the Adani group’s top officials were indicted by US prosecutors, will now launch the issue on Monday, reported Reuters citing two sources. The issue, which could raise as much as $500 million, is the first since the Adani crisis and will test global appetite for Indian high yield credit following the allegations against Adani.
Ashoka Buildcon
Ashoka Buildcon has received a Letter of Award (LOA) for a Hybrid Annuity Mode (HAM) road project in West Bengal from the National Highways Authority of India (NHAI).
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