Stocks to watch out for today: Vedanta, Adani Ports, SJVN, Power Grid and more

The domestic equity market closed higher on Tuesday. Sensex rose 230 points to end the session at 71,336 and Nifty gained 92 points to settle at 21,441.       

Here's a look at stocks to watch out for today.

Power Grid Corporation of India

The project under "evacuation of renewable energy (RE) in Tirunelveli and Tuticorin wind energy zone (Tamil Nadu) 500 MW" has been commissioned with effect from December 24.

Zydus Lifesciences

The Income Tax Department has sent an intimation to subsidiary Zydus Healthcare determining tax demand of Rs 284.58 crore for the assessment year 2023-2024 while processing the return of income of Zydus Healthcare. The company strongly believes that once the rectification is made, the entire demand will be deleted.

ALSO READ: Adani Energy Solutions shares in focus on Halvad acquisition, smart metering JV

Adani Ports

Shares of Adani Ports & Special Economic Zone Ltd (Adani Ports) will be in focus today after the Adani group firm said its board would meet on Wednesday, January 3, to consider and approve a proposal to issue non-convertible debentures by way of public offering, preferential allotment and/or combination thereof as may be considered appropriate, or any other eligible securities, subject to regulatory or statutory approvals, as may be required.

The Mufti Menswear

The Mufti Menswear is set to debut on the bourses on December 27. The final issue price has been fixed at Rs 280 per share.

Adani Energy Solutions

Shares of Adani Energy Solutions Ltd will be in focus today after the Adani group firm said it has signed share purchase agreement with PFC Consulting for acquisition of 100 per cent shares of Halvad Transmission Limited (HTL). Besides, the Adani firm said its wholly-owned subsidiary Adani Transmission Step-Four Ltd entered into a definitive agreement for formation of 49:51 joint venture with UAE-based Esyasoft Holdings, to implement Smart Metering projects in India and globally.

Happy Forgings

The forgings and high-precision machined component maker will make its market debut on the BSE and NSE on December 27. The final issue price is Rs 850 per share.

Vedanta

The metal and mining major will start trading ex-dividend with effect from December 27. The company has announced an interim dividend of Rs 11 per share for FY24.

 SJVN

The state-owned company has won a 100 MW solar power project from Gujarat Urja Vikas Nigam (GUVNL). The company successfully bagged the quoted capacity of a 100 MW solar project at Rs 2.63 per unit on a build-own-operate basis. The ground-mounted solar project will be developed by the company's wholly owned subsidiary, i.e., SJVN Green Energy (SGEL), at a tentative cost of Rs 550 crore.

 Lumax Auto Technologies

Foreign portfolio investor Asia Investment Corporation Mauritius has sold its entire stake in Lumax Auto by selling 28,11,262 equity shares via open market transactions at an average price of Rs 386 per share, which amounted to Rs 108.5 crore. Gryphon Growth Fund VCC was the buyer in the deal.

Vishnu Prakash R. Punglia

The company has received a letter of award from the Uttarakhand government for two projects worth Rs 899 crore. Vishnu Prakash will develop a water supply system with 18 years of operation and maintenance (O&M) in Haldwani and Kotdwar, Uttarakhand.

 UGRO Capital

A meeting of the Investment and Borrowing Committee will be held on December 29 to consider raising funds by way of the issuance of non-convertible debentures through public issue.