At 08:40 AM, Nifty futures on the Singapore Exchange (SGX) were trading 20 points or 0.16 per cent lower at 12,129.50, indicating a negative start for the Indian market on Monday.
Here's a look at the top stocks that may remain in focus today -
Banks to remain in focus on news that the global steel giant ArcelorMittal has initiated payment for acquisition of debt-ridden Essar Steel for Rs 42,000 crore. "ArcelorMittal has arranged the entire amount of Rs 42,000 crore which is likely to be transferred to State Bank of India, the lead banker to take control of Essar Steel under the Insolvency and Bankruptcy Code," news agency PTI reported citing cources. READ MORE
HUL: GlaxoSmithKline (GSK) Plc may exit from Hindustan Unilever Limited (HUL), early in the New Year, according to a report by The Economic Times. GSK Plc, as per the report, said it would sell the stake once the merger was completed in early 2020. It didn’t say when it would do so and that the sale would occur in “tranches”.
Select pharma companies: The government has for the first time invoked the Drug Price Control Order, 2013, (DPCO, 2013) to raise the prices of 21 formulations or medicines that are under price regulation to ensure their availability. This would be a one-time increase of 50 per cent above the present ceiling prices.
Sun Pharma: The company's Halol facility has received 8 USFDA observations. The inspection took place from December 3 to December 13.
PNB: Public sector lender Punjab National Bank (PNB) under-reported its non-performing assets by Rs 2,617 crore for the fiscal year 2018-19, as per RBI's risk-assessment report.
JB Chemicals: The company's buyback offer is slated to open today and close on December 30. The company plans to buy back 29.54 lakh shares at a price of Rs 440.
Adani Transmission: Adani Transmission on Saturday said it has won a project to develop a 400 kV substation facility in Mumbai. The project is likely to ease transmission congestion and carry more power to meet the city’s future electricity needs.
Vardhman Textiles: The company has decided to withdraw the Scheme of Arrangement filed with the Stock Exchanges. The board of directors of the Company, at its meeting held on August 13, 2019, considered and approved the scheme of arrangement amongst VMT Spinning Company Limited, VTL Investments Limited, Vardhman Nisshinbo Garments Company Limited, Vardhman Acrylics Limited, the Company and their respective creditors and shareholders (“Scheme of Arrangement’).
Jubilant Industries' subsidiary Jubilant Agri and Consumer Products (JACPL) to recommence operations from May 15, 2020.
Granules India said it will divest its entire stake in overseas joint venture company situated in China.
Ashiyana Housing has converted 244 'Expression of Interests' into booking out of the total 250 units available in Phase 1 of the project 'Ashiana Aditya'. As on date area of 3,46,834 sq. ft. out of the total area of 3,54,750 sq. ft. have been booked. 'Ashiana Aditya' project has a total saleable area of 6.72 lakhs sq. ft. The project consists of 2 BHK and 3 BHK units and is located at Adityapur, Jamshedpur (Jharkhand), the company said.