Stocks to Watch, Nov 29: SBI, PC Jeweller, Nazara Tech, Adani Group shares

Stocks to Watch, Nov 29: Here are few stocks that will remain in focus for today's session

Stocks to Watch on November 29, 2024: The GIFT Nifty futures, around 7:08 AM, were trading 23.75 points higher at 24,139.

In the previous session, the BSE Sensex plunged 1,190 points or 1.48 per cent to settle at 79,043.74. Similarly, the NSE Nifty50 ended down by 360.75 points or 1.49 per cent at 23,914.15.

Here is a list of stocks that will be in focus for today's (November 29) session: 

State Bank of India (SBI): In an exclusive interview with Business Standard, SBI Chairman CS Setty said that the public sector lender is poised to touch the Rs 100 trillion mark in total business in the next financial year, provided it maintains the current rate of 14-16 per cent loan growth and 10 per cent growth in deposits.

 

 

PC Jeweller: The board has set the record date as December 16, 2024, for stock split. As per the terms, 1 equity share with a face value of Rs 10 each will be split into 10 equity shares, each with a face value of Re 1.

 

Adani Group stocks: Abu Dhabi’s International Holding Company (IHC) has reaffirmed its support for the Adani Group, saying its outlook on investments in the group remains unchanged despite the US indictment of the conglomerate’s founder chairman Gautam Adani.

 

Meanwhile, Kerala Chief Minister Pinarayi Vijayan signed a supplementary concession agreement between the state government and Adani Vizhinjam Port, ensuring the future development of the international seaport, the first phase of which is now slated for commissioning next month. The phases will involve an additional investment of Rs 10,000 crore, expanding the port’s capacity to 30 lakh twenty-foot equivalent units.

 

However, top Indian banks are reviewing their exposure to the Adani Group. Public sector lenders, including the State Bank of India (SBI), Bank of India, and Union Bank of India, are reportedly undertaking the exercise. Similarly, private banks such as ICICI Bank, Canara Bank, IDBI Bank, and RBL Bank have joined the effort, according to the reports.  Reliance Industries (RIL): Reliance Finance and Investments, a US subsidiary of RIL, has picked up a 21 per cent stake in US-based Wavetech Helium, Inc. (WHI), marking the oil-to-telecom conglomerate’s expansion in the helium segment which has a significantly lower carbon footprint.  

  Nazara Tech: The company has raised Rs 855 crore ($101 million) via a preferential issue, which saw participation from SBI Innovative Opportunities Fund, Junomoneta Finsol, and Think India Opportunities Master Fund LP, among others. In a regulatory filing on November 27, Nazara’s board approved the allotment of 8.95 million shares at an issue price of Rs 954.27 per share.  

Sun Pharmaceuticals: The Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials, including CMD Dilip Shanghvi, for nondisclosure and not obtaining approval of its board and shareholders for certain related party transactions.

 

Dr Reddy's Laboratories: The pharma company launched Toripalimab in India for patients diagnosed with nasopharyngeal carcinoma (NPC), a rare form of head and neck cancer.

 

ONGC: Oil and Natural Gas Corporation (ONGC) is awaiting the state government's nod for a petroleum mining lease to develop them, as per Oil Minister Hardeep Singh Puri.

 

Sugar stocks: Sugar cooperatives, which accounted for almost 30 per cent of India’s annual sugar output as of 2023-24 season (Oct-Sept), are against repeated attempts to raise the issue of labour exploitation in their factories and farms, alleging that it is a ploy to divert customers from cooperatives to others. 

 

BSNL: Bharat Sanchar Nigam Ltd (BSNL's) installed 50,708 4G sites and 41,957 sites on-air, as per the Minister of State for Communications. 

 

KEI Industries: The company raised Rs 2,000 crore through the allocation of 52,63,157 equity shares to 104 qualified institutional buyers at an issue price of Rs 3,800 per share, which is at a discount of 2.07 per cent to the floor price of Rs 3,880.54 per share. 

 

Newgen Software Technologies: The company bagged a purchase order from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS). The value of order is around Rs 32 crore. 

 

Hinduja Global Solutions: The company's board has approved to provide guarantee of CAD 40 mn from Hinduja Global Solutions to Metrolinx, a Canadian public sector organisation, for executing the contract for digital services and back office services by HGS Canada Inc., a subsidiary of the company.

 

Sindu Valley Technologies: The company received a subcontract worth Rs 38 crore for road construction work from GHV India in Maharashtra, and another subcontract worth Rs 125 crore from GHV-MHK JV in Gujarat.

 

James Warren Tea: The company has signed a Business Transfer Agreement with Rajah Alli Tea & Industries LLP for the sale of Rajah Alli Tea Estate for Rs 19 crore.