On November 26, 2024, at 08:04 AM, the GIFT Nifty futures were trading 70 points lower at 24,283.50, indicating a negative start. Before the market opens, check out a few stocks that will be in focus during the trading session.
The Andhra Pradesh government is reviewing the power supply contract with the Adani Group, with potential plans to cancel it, according to reports. In the meantime, French energy giant TotalEnergies has paused new investments in the group, citing corruption allegations raised by the US Securities and Exchange Commission (SEC). However, Florida-based GQG Partners has expressed confidence in the Adani Group, highlighting the solid fundamentals of its investments. This follows the indictment of Indian billionaire Gautam Adani by US prosecutors, who accused him of involvement in a $265 million bribery scheme targeting Indian officials.
The HUL board has approved, in principle, the demerger of its ice cream business into a separate, listed entity. Pending necessary approvals, HUL shareholders will receive shares in the new entity based on their current holdings in HUL.
Vedanta Resources, which delayed the planned sale of dollar bonds last week after the indictment of Adani Group executives, is now set to launch the issue on Monday. This $500 million bond issue is the first major offering since the Adani crisis and will gauge global investor interest in Indian high-yield credit following the allegations against Adani.
After transitioning to its internal e-auction platform earlier this year, Coal India has issued a tender seeking bids from private service providers to manage e-auctions of coal for its subsidiaries over the next two years.
Maruti Suzuki has reached a milestone, exporting 3 million cars from India. The majority of these exports have been to markets in Latin America, Africa, Asia, and the Middle East.
The State Bank of India (SBI) plans to deploy $1.5 billion in international operations by the end of the current financial year (2024-25). This includes $500 million in bonds and an additional $1 billion via syndicated loans.
Tata Consumer’s Managing Director and CEO, Sunil D’Souza, has described the current food inflation as a “short-term blip,” predicting that it will moderate in the next two quarters, alongside a revival in consumer demand.
HDFC Life has reported a data breach and has launched a comprehensive investigation in collaboration with information security experts to determine the cause and implement corrective actions.
IndiGo and Japan Airlines are set to begin their codeshare partnership on December 16. This collaboration will give Japan Airlines access to 18 new destinations within India.
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.
Published on: Nov 26, 2024, 8:23 AM IST
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