Stocks To Watch Today on November 25, 2024: Adani Group Stocks, Zomato, CESC, and more Will be in Focus

On November 25, 2024, at 08:02 AM, the GIFT Nifty futures were trading 324 points higher at 24,342, indicating a positive start for the day. Before the market opens, check out a few stocks that will be in focus during the trading session.

• Adani Group Stocks

Gautam Adani, Founder and Chairman of the Adani Group, along with his nephew Sagar, has been summoned to address allegations from the US Securities and Exchange Commission (SEC). The SEC accuses them of paying $265 million (₹2,200 crore) in bribes to secure lucrative solar power contracts.

• CESC 

CESC, through its unit Eminent Electricity Distribution, has received a Letter of Intent (LOI) for the acquisition of 100% shares in a distribution company serving the electricity and retail supply needs of the Union Territory of Chandigarh. The ₹871 crore deal is expected to be finalized within the next 30 days.

• Zomato 

Zomato’s shareholders have approved a proposal to raise ₹8,500 crore through a Qualified Institutions Placement (QIP). The approval was granted via a special resolution passed by postal ballot and remote e-voting. This fundraising is aimed at strengthening the company’s balance sheet.

• HDFC Life Insurance Company 

Private insurer ICICI Lombard General has acquired a 0.19% stake in HDFC Life Insurance for ₹233 crore. The transaction, conducted during market hours on November 22, 2024, was executed through a cash consideration.

• RVNL

RVNL has received a Letter of Acceptance (LoA) from Eastern Railway for a major infrastructure project that includes earthwork, bridge construction, and railway track laying. Valued at ₹837.67 crore, the project is being executed through RVNL’s joint venture with SCPL, with RVNL holding a 74% stake.

• RITES

RITES has received revised cost estimates for its railway electrification project in the Lumding-Badarpur section under Northeast Frontier Railway (NFR). The revised cost of the turnkey project is ₹531.77 crore (excluding GST), an increase from the original estimate of ₹288.44 crore.

• Cochin Shipyard

Cochin Shipyard (CSL) has signed a Memorandum of Understanding (MoU) with Seatrium Letourneau USA, Inc. (SLET) for the design and supply of critical equipment for jack-up rigs tailored to the Indian market. This collaboration leverages CSL’s expertise in shipbuilding and SLET’s strengths in offshore drilling technology.

• VST Industries

VST Industries has completed the sale of an immovable property in Panjagutta, Banjara Hills, Hyderabad, to ViNS Bioproducts Ltd. and other parties. The transaction, valued at ₹101.7 crore, includes the sale of approximately 2.7 acres of land along with existing structures.

• HG Infra Engineering

HG Infra Engineering has secured a Letter of Award (LoA) from NTPC Vidyut Vyapar Nigam Ltd under a tariff-based global competitive bidding process. The project, valued at approximately ₹1,110 crore, involves handling 185 MW/370 MWh of capacity at a tariff rate of ₹2,38,000 per MW per month, with a completion timeline of 1.5 years.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.