Indian equity benchmarks Sensex and Nifty 50 closed marginally lower on Wednesday, December 24, as investors booked profits in select heavyweight stocks such as Reliance Industries and ICICI Bank, amid mixed global cues.
The Sensex slipped 116 points, or 0.14%, to close at 85,408.70, while the Nifty 50 declined 35 points, or 0.13%, to settle at 26,142.10. Broader markets also ended weak, with the BSE Midcap index falling 0.37% and the Smallcap index easing 0.14%.
Market movement remained range-bound throughout the session, with sectoral trends mixed. Profit-taking was seen in select IT, pharma and FMCG stocks, while realty and metal stocks ended largely flat. Overall participation remained selective, reflecting consolidation after the recent rally.
Stocks to Watch
Here are some stocks that may remain in focus in the upcoming session due to company-specific developments:
IndusInd Bank
The Serious Fraud Investigation Office (SFIO) has initiated a probe into the bank over alleged irregularities in its derivatives trading portfolio. The lender informed exchanges that it has received official communication from the investigation agency.
Ola Electric
The company said it has received government approval for the release of ₹366.78 crore under the Production Linked Incentive (PLI) scheme for automobiles and auto components.
Vikran Engineering
Vikran Engineering has secured an EPC contract worth ₹459 crore from NTPC Renewable Energy for a 400 MW AC grid-connected solar power project at Chitrakoot-1 in Uttar Pradesh.
Castrol India
Canada Pension Plan Investment Board and US-based private equity firm Stonepeak are set to make an offer to acquire up to a 26% stake in Castrol India, following an agreement to purchase the company from its parent, BP.
Vodafone Idea
The telecom operator said it has received two GST penalty orders from tax authorities in Mumbai and Bengaluru, with a total potential liability of over ₹83 crore.
Lenskart Solutions
The company announced that its Singapore subsidiary has approved an investment of KRW 3 billion (₹186 million) to acquire a 29.24% stake in South Korea-based optical machinery firm iiNeer Corp. Ltd.
Adani Power
Adani Power has raised its long-term installed capacity target to 41.87 GW by FY32 and announced a capital expenditure plan of around ₹2 lakh crore, marking a major expansion push in the thermal power segment.
UltraTech Cement
The cement major said it has commissioned 1.8 mtpa of new capacity, including 0.6 mtpa at Dhule (Maharashtra) and 1.2 mtpa at Nathdwara (Rajasthan).
KNR Construction
The company has signed share purchase agreements with Indus Infra Trust to divest its entire stake in four road SPVs for a total value of ₹1,543.19 crore.
NBCC
NBCC has entered into an MoU with the Mumbai Port Authority to develop the CGO Complex on 25 acres of port land in Mumbai, where it will act as the project management consultant and executing agency.
Disclaimer
This news article is for informational purposes only and does not constitute investment advice. Readers are advised to consult their financial advisors before making any investment decisions.
