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Stocks to watch: Shares of firms like Ultratech, Paytm, Tata Power, Delta Corp, Biocon, and others will be in focus on Monday’s trade
Stocks To Watch
Stocks To Watch On December 9: Markets traded in a narrow range on Friday, closing almost flat despite a busy session. Today’s focus will be on companies such as Ultratech, Paytm, L&T, Biocon, Alembic Pharma, and others, following recent news developments.
Tata Power: Tata Power plans to significantly increase its capital expenditure (capex) over the next five years, targeting 2.5 times more than the Rs 50,000 crore spent between 2021 and 2025. The company aims for a capex of Rs 1.25 lakh crore from 2026 to 2030, according to Praveer Sinha, MD and CEO, at their cell and module plant in Tirunelveli, Tamil Nadu.
Godrej Consumer Products: The company has provided its outlook for Q3 of the current fiscal year, highlighting challenges in key business segments due to a tough demand environment and external pressures. In particular, soaps, which account for around a third of its revenue, have been affected by a 20-30% year-on-year increase in palm oil and derivative prices.
Welspun Corp: Welspun Corp has secured two large orders for supplying HSAW-coated pipes for Natural Gas Pipeline Projects in the US. The orders, won by its US plant, have brought the cumulative value of orders received by the unit to over Rs 7,000 crore as of Q3 FY25.
Suven Pharmaceuticals: Suven Pharmaceuticals has entered into agreements to acquire a 56% equity stake in NJ Bio, Inc. for $64.4 million. The deal includes both primary equity infusion and secondary acquisition, with Suven investing $15 million to support NJ Bio’s growth initiatives.
Delta Corp: Delta Corp has revised its previously approved demerger scheme for its hospitality and real estate businesses. The updated plan focuses on optimizing the financial and operational aspects of the Dhargalim project in Goa, a key part of the company’s growth strategy.
Paytm: Paytm’s wholly-owned Singapore entity is set to sell its stake in Japanese fintech company PayPay to SoftBank Vision Fund 2 for Rs 2,364 crore. The transaction, which includes the sale of Stock Acquisition Rights (SARs), is expected to close this month, subject to approvals, and will enhance the parent company’s cash reserves.
Biocon: Biocon has received EIR With VAI Status From US FDA For Its API facility (Site 2), Bengaluru.
Easy Trip Planners: Easy Trip Planners is acquiring a 49% stake in Dubai-based Pflege Home Health Care Center for Rs 30 crore, a 50% stake in Jeewani Hospitality in Uttar Pradesh for Rs 100 crore to expand its hotel business, and a 49% stake in Australia’s Planet Education for Rs 39.2 crore, marking its foray into the international education and student services market.
L&T: Larsen & Toubro (L&T) has successfully overturned a Rs 702 crore customs duty demand following a favorable ruling from the Central Excise & Service Tax Appellate Tribunal.
Ultratech: India Cements is responding to a notice from the Competition Commission of India (CCI) regarding the UltraTech Cement deal. The company is confident that it can address any concerns raised by the CCI, as the cement market remains highly competitive.
Star Health: Star Health has received a show-cause notice from IRDAI for non-compliance with various regulations and guidelines.
CEAT: CEAT is acquiring Michelin’s Camso brand Off-Highway Tyres and Tracks business for $225 million.
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