Stocks in focus: Zomato, IRCON, IIFL Securities, Maruti Suzuki and more

Indian market closed lower on Thursday amid profit booking from record highs. Sensex declined 132 points to close at 69,521 and Nifty slipped 36.55 points to end at 20,901. Here’s a look at stocks that are likely to remain in news today.  

Container Corporation of India 

CONCOR and NTPC Vidyut Vyapar Nigam (NVVN) have inked an agreement for setting up PV solar renewable energy projects in CONCOR terminals. This is in line with companies commitments to reduce carbon emissions and promote renewable power generation.  

Also read: Adani Power shares rose 300% from 52-week low but overbought on charts; more gains likely? 

Olectra Greentech 

The electric bus manufacturer has received a letter of award (LoA) from Vasai Virar City Municipal Corporation, Mumbai, for the supply and maintenance of 40 electric buses. The order is for the supply of 40 electric buses is on an outright sale basis and shall be delivered over a period of 7 months. The value of this order is Rs 62.80 crore.  

Kesoram Industries  

Morgan Stanley has purchased shares worth Rs 32.87 crore in Kesoram Industries. Morgan Stanley Asia Singapore Pte has bought 21.32 lakh shares or 0.68% of paid-up equity at an average price of Rs 154.17 per share.  

ALSO READ: Tata Power shares hit record high for second straight session; how strong is the uptrend?

IRCON   

IRCON’s non-retail portion of the offer for sale (OFS) was subscribed 4.63 times of the base size on the first day. The government has decidesd to exercise the green shoe option. The retail investors will bid in the OFS today, December 8, 2023.   

Natco Pharma   

Natco Pharma said operations at Manali Unit in Chennai have been shut temporarily due to cyclone.   

ALSO READ: Zomato shares in focus as SoftBank likely to sell 1.1% stake today

PSP Projects   

The company has won a work order worth Rs 101.67 crore for a project at GIFT city Gandhinagar, Gujarat.  

REC   

Rural Electrification Corporation (REC) plans to raise up to Rs 6,000 crore by issuing two bonds, said a report. REC plans to raise up to Rs 4,000 crore through the first bond, which includes Rs 3,300 crore in a greenshoe option. The bond matures in 15 years or on November 30, 2038. Through the second bond, the company will raise up to Rs 2,000 crore, which includes Rs 1,500 crore in a greenshoe option. 

Jindal Saw 

The iron and steel pipes and pellets manufacturer said its board would meet on December 14 to consider the proposal of raising funds via one or more qualified institutions placement (QIP) of equity shares. 

Zomato  

Shares of online food delivery provider Zomato Ltd are in focus today amid  reports which said Japanese tech giant SoftBank is likely to sell shares of Zomato worth Rs 1125 crore via a block deal. The shares will be sold at a price of Rs 120.50 per share. Zomato shares ended at Rs 121.80 , up 2.44% in the last session on BSE. However, it was not immediately known who will be the buyers in this transaction. 

Maruti Suzuki India 

The country's largest car maker has received an order for dropping an earlier show-cause notice from the Gujarat Goods and Services Tax (GST) Authority, for a Rs 1.79 crore demand on September 29 from July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company. 

Shriram Finance 

The company has executed a master agreement for co-lending of loans to micro, small, and medium enterprises (MSMEs) borrowers under the scheme of co-lending by way of back-to-back assignments of loans and loan portfolios in tranches with the Small Industries Development Bank of India (SIDBI). 

IIFL Securities 

The company said the Securities Appellate Tribunal (SAT) has set aside a Securities and Exchange Board of India (SEBI) order of June 19, which  prohibited it from onboarding new clients for two years in respect of its business as a stock broker. The penalty imposed by the adjudicating officer has been reduced to Rs 20 lakh.  

Also read:Top stocks to watch on December 8, 2023: HUL, Focus Lighting, REC, IRCON, Wheels India and more