Here is a brief overview of the stocks that are probably going to be the focus of today’s trading.
Here is a brief overview of the stocks that are probably going to be the focus of today’s trading
IT Stocks: Accenture reported revenue of $17.7 billion in the first quarter of FY25, which was a 9 percent YoY rise in US dollars and an 8 percent YoY increase in local currency. During premarket trading on Thursday, December 19, its shares surged 5% as a result of this outstanding performance. In addition, the business raised its projection for yearly sales growth from its previous range of 3-6 percent to 4-7 percent. The forecast’s midpoint, however, is still marginally behind analysts’ 5.63 percent prediction.
KPI Green Energy: The record date for assessing shareholder eligibility for its proposed bonus issue of equity shares is January 3. Subject to shareholder approval through a postal poll, the bonus will be paid out in a 1:2 ratio. The extra shares, which were first suggested on November 14, will be shipped by January 14, 2025. near addition, KPI Green and the Rajasthani government have teamed up to create hybrid wind and solar power projects near Jaisalmer.
Bharti Airtel: Bharti Airtel declared that it had paid ₹3,626 crore in advance for the outstanding spectrum obligations from 2016. This action removes an interest load that is higher than 8.65 percent. Airtel has prepaid ₹28,320 crore in spectrum-related debt throughout the course of the year.
IndiGo: InterGlobe Aviation’s IndiGo subsidiary, IndiGo IFSC, has been granted an intercorporate credit of up to $43 million. The loan, which is intended to finance aircraft purchases, has an interest rate that is 275 basis points higher than the six-month SOFR benchmark. Monthly interest payments and a principal payback are due at the end of the loan’s ten-year term.
AU Small Finance Bank: Harun Rasid Khan’s reappointment as AU Small Finance Bank’s part-time chairman has been approved by the Reserve Bank of India (RBI). The approval will take effect on December 28, 2024, and will last for three years. Prior to the RBI’s approval, the reappointment was suggested in October 2024. Today, the bank affirmed that it had obtained the required regulatory approval.
Hyundai Motor India: The company plans to be the first in the nation to use domestically produced battery cells in its electric cars. This comes after the business and Exide Energy Solutions, a division of Exide Industries, signed a legally binding term sheet. The development and distribution of lithium-iron-phosphate (LFP) battery cells specifically designed for Hyundai’s EVs in the Indian market is the main objective of the deal. By encouraging localized battery procurement, this program not only makes Hyundai more cost competitive but also supports India’s carbon-neutrality goals.
JK Cement: With a geological reserve of roughly 107.4 million tonnes and an annual capacity of 1.2 million tonnes, JK Cement won the auction for the Mahan coal mine in Singrauli, Madhya Pradesh. In keeping with its objective of achieving self-reliance for both present and future cement plants, JK Cement has acquired its second coal block. The mine’s excess coal will be sold on the market.
Dhanlaxmi Bank: A rights issue worth ₹297.54 crore has been approved by Dhanlaxmi Bank, with shares priced at ₹21 each. Existing eligible shareholders may participate in the rights issue between January 8, 2025, and January 28, 2025.
Parle Industries: Beginning in January 2025, Parle Industries intends to raise the prices of all of its products by at least 5%. This adjustment will effect a number of commodities, including bread, biscuits, rusks, cakes, and snacks, reflecting rising input costs.
