Stocks To Watch: HUDCO, Zomato, Power Finance Corp, Azad Engineering, Tata Power, Canara Bank, Lupin

Companies such as Housing and Urban Development Corp., Zomato Ltd., Power Finance Corp. and Power Grid Corp. will be in focus on Thursday.

HUDCO executed an MoU with the Gujarat government for an investment of up to Rs 14,500 crore for financing housing and urban infrastructure projects, while Zomato received a show cause notice from GST authorities for alleged tax liability of Rs 401.7 crore related to delivery charges collected.

Zomato received a show cause notice from GST authorities for alleged tax liability of Rs 401.7 crore for the period from Oct. 29, 2019 to March 31, 2022, related to delivery charges collected. The company said it is not liable to pay any tax since the delivery charge is collected on behalf of the delivery partners.

Most markets in Asia gained on Thursday with the equity indices in Australia trading near two-year high.

The S&P/ASX 200 was 0.44% or 33.48 points higher at 7,594.70, while the Krospi was 0.22% higher at 2,619.15.

Share indices in Japan fell on Thursday, with the Nikkei trading 0.73% down at 33,434.55 as of 06:14 a.m.

The S&P 500 index and Nasdaq 100 rose by 0.14% and 0.17%, respectively, as of Wednesday. The Dow Jones Industrial Average rose by 0.30%.

Brent crude was trading 1.75% lower at $79.65 a barrel. Gold was higher by 0.15% at $2,080.66 an ounce.

India's benchmark indices continued to rally for the fourth consecutive session on Wednesday and closed at an all-time high due to gains in the shares of financial services and IT stocks.

The NSE Nifty 50 ended 213 points, or 1%, higher at 21,654.75, while the S&P BSE Sensex closed 702 points, or 0.98%, up at 72,038.43—closing above the 72,000 mark for the first time.

Overseas investors turned net buyers of Indian equities on Wednesday after six consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 2,926.1 crore, while domestic institutional investors turned net sellers for the second straight day and offloaded stocks worth Rs 192 crore, the NSE data showed.

The Indian rupee weakened 16 paise to close at Rs 83.35 against the U.S. dollar on Wednesday.

• Housing and Urban Development Corp: The company executed a Memorandum of Understanding with the Gujarat government for an investment of up to Rs 14,500 crore for financing housing and urban infrastructure projects.

• Zomato: The company received a show cause notice from GST authorities for alleged tax liability of Rs 401.7 crore for the period Oct. 29, 2019, to March 31, 2022, related to delivery charges collected. The company said it is not liable to pay any tax since the delivery charge is collected on behalf of the delivery partners.

• Power Finance Corp, Tata Power: PFC subsidiary Bikaner III Neemrana II Transmission has been transferred to Tata Power for Rs 18.60 crore and Neemrana Il Kotputli Transmission has been transferred to Sterlite Grid 32 for Rs 18.59 crore.

• Power Grid Corp: The company has acquired Bikaner III Neemrana Transmission in Rajasthan under tariff-based competitive bidding route for Rs 18.82 crore.

• Exide Industries: The company has made an investment of Rs 40 crore in its arm Exide Energy Solutions. Total investment in its arm now stands at Rs 1,820.01 crore.

• GE Power India: The company received an order worth of Rs 10.47 crore from NTPC to supply generator spares and received order worth of Rs 9.91 crore from Bokaro Power Supply Co. for the supply of spares.

• Affle India: The company has approved to enter a non-binding Memorandum of Understanding to invest Rs 37.3 crore as cash consideration to acquire minority ownership in Explurger.

• Kotak Mahindra Bank: Reserve Bank of India has approved the appointment of CS Rajan, Independent Director, as the part-time chairman, for a period of two years, effective Jan. 1, 2024.

• Life Insurance Corp: The company appointed S Sunder Krishnan as chief risk officer effective from Dec. 27.

• Lupin: The pharma major announced that it has received approval from the USFDA for its abbreviated new drug application for Loteprednol Etabonate Ophthalmic Suspension.

• Reliance Capital: The Competition Commission approved the proposed acquisition of the stake in Reliance Capital by IndusInd International Holdings, IIHL BFSI (India) and Aasia Enterprises LLP.

• Canara Bank: The bank has approved the process of listing its mutual fund subsidiary Canara Robeco Asset Management Company by way of an IPO.

• Dabur India: The dissolution of the company's subsidiary Dabur Tunisia is delayed till Dec. 31, 2024, as the response from the Reserve Bank and authorities in Tunisia on the matter is still awaited.

• City Union Bank: The company has opened four new branches on Dec. 27.

• PTC Industries: The company and Nasmyth signed a Memorandum of Understanding for collaboration to leverage their capabilities for offering solutions to defence and aerospace customers in India and globally.

• One 97 Communications: The company said merchant payments worth Rs 912 crore were made using Paytm in Q2 FY24.

• South Indian Bank: The company approved raising Rs 1,750 crore via rights issue.

• Petronet LNG: The company signed the binding transaction documents with Gopalpur Ports for setting up of LNG terminal on the east coast of India.

• KPI Green Energy: The company and its arm commissioned solar power projects totalling 17.35 MWp.

• Sula Vineyards: The company’s iconic Wine Tourism business set new records in visitor numbers, revenues and tastings over the long Christmas weekend.

• Azad Engineering: The company’s shares will debut on the stock exchanges on Thursday at an issue price of Rs 524 apiece. The Rs 740 ­­crore IPO was subscribed 80.65 times on its third and final day. The bids were led by institutional investors (179.66 times), non-institutional investors (87.61 times) and retail investors (23.79 times).

• Lumax Auto Technologies: Asia Investment Corp. Mauritius sold 28.11 lakh shares (4.12%) while Griffin Growth Fund VCC bought 28.11 lakh shares (4.12%) at Rs 386 apiece.

• GMR Power and Urban Infra: ASN Investments sold 92.63 lakh shares (1.53%) at Rs 52.34 apiece while Setu Securities bought 46 lakh shares (0.76%) at Rs 51.91 apiece.

• Swan Energy: Hypnos Fund sold 32.82 lakh shares (1.24%) at Rs 500.58 apiece, Kasturi Vintrade sold 25.27 lakh shares (0.95%) at Rs 502.14 apiece while Jainam Broking bought 29.51 lakh shares (1.11%) at Rs 504.55 apiece.

• Gujarat Themis Biosyn: Pharmaceutical Business Group I sold 30 lakh shares (4.12%) at Rs 215.35 apiece while MC Jain Info Services bought 4.9 lakh shares (0.67%) at Rs 215 apiece.

• Bengal and Assam Company: Ashok Kumar Kinra sold 0.82 lakh shares (0.72%) at Rs 7461.44 apiece.

• VIP Industries: Promoters Kiddy Plast and DGP Enterprises bought 70,000 shares each on Dec. 26, and promoter Dilip G. Piramal bought 1.03 lakh shares on Dec. 26.

• Ultramarine and Pigments: Promoter group Deepa Ajay sold 39,239 shares on Dec. 26.

• Ramkrishna Forgings: Promoter Naresh Jalan bought 5,775 shares on Dec. 26.

• Jindal Steel and Power:  Promoter Siddeshwari Tradex revoked a pledge for 2.5 lakhs shares on Dec. 26.

• VRL Logistics: To meet investors and analysts on Dec. 29.

• AGI Greenpac: To meet investors and analysts on Dec. 28.

• Sky Gold: To meet investors and analysts on Jan. 3.

• Globus Spirits: To meet investors and analysts on Dec. 30.

• Dodla Dairy: To meet investors and analysts on Jan. 2.

• Price band revised from 5% to 2%: OM Infra.

• Moved into a short-term ASM framework: Heritage Foods.

• Moved Out of short-term ASM framework: Adani Total Gas, Dhunseri Investments, Gallantt Ispat.

• Nifty December futures up by 0.98% to 21,681.80 at a premium of 27.05 points.

• Nifty December futures open interest down by 18.2%.

• Nifty Bank December futures up by 1.12% to 48,359.95 at a premium of 77.75 points.

• Nifty Bank December futures open interest down by 11.3%.

• Nifty Options Dec 28 Expiry: Maximum Call open interest at 22,000 and Maximum Put open interest at 21,500.

• Bank Nifty Options Dec 28 Expiry: Maximum Call Open Interest at 49,000 and Maximum Put open interest at 47,000.

• Securities in the ban period: National Aluminium, RBL Bank.

Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Ltd., an Adani Group company.