Stocks to watch out for today: Jio Financial, Adani Ports, Vedanta, Maruti Suzuki and more

The domestic equity market closed lower on Thursday. Sensex fell 536 points to 71,356 and Nifty lost 148 points to settle at 21,517.Here’s a look at stocks to watch out for today.  

Vedanta  

Shares of Vedanta Ltd will be in focus on Thursday morning after the Anil Agarwal-led company gave updates on its December quarter production figures and announced issue of Rs 3,400 crore worth NCDs. Vedanta also informed stock exchanges about GST demand received by subsidiary BALCO.   

Adani Ports 

Adani Ports and Special Economic Zone Limited (APSEZ) said its board of directors has cleared raising up to Rs 5,000 crore through a public issuance of non-convertible debentures. Separately, the company has elevated CEO Karan Adani to the role of Managing Director, a position which was held by Chairman of Adani group Gautam Adani. 

Reliance Industries 

The firm's subsidiary Reliance Jio, with a 39.3 percent market share in the wireless subscriber base, added 31.59 lakh users in October 2023 as against 34.75 lakh users added a month back.  

Larsen & Toubro 

The infrastructure firm has completed the sale of its entire stake in L&T Infrastructure Engineering to STUP Consultants consequent to the completion of customary conditions precedent, as agreed under the Share Purchase Agreement. Subsequently, L&T Infrastructure Engineering has ceased to be an arm of the company.  

 Indian Energy Exchange 

The energy exchange logged a 14.9 percent year-on-year growth in total volumes at 9,707 MU (million units), while total electricity volumes climbed 8.7 percent YoY to 8,655 MU during the month.  

Satin Creditcare Network 

The microfinance firm said the meeting of the Working Committee of the Board of Directors was scheduled to be held on January 8 to consider the fund-raising proposal through the issuance of non-convertible debentures on a private placement basis. 

Jio Financial 

Shares of Jio Financial Services Ltd (JFS) will are in news after the market regulator Sebi's latest processing status report on mutual fund applications suggested that the application by JFS and BlackRock Financial Management dated October 19, 2023 was under consideration of getting an in-principle approval.  

Life Insurance Corp of India 

The insurer on Wednesday said that tax authorities have sent a demand notice of about Rs 663.45 crore on it for short payment of GST. The demand order for interest and penalty came from the Office of the Commissioner of CGST & Central Excise, Chennai North Commissionerate. 

LTIMindtree 

The IT services company received a tax demand order under the Maharashtra Goods & Services Tax Act from the Department of Goods and Service Tax, Office of the Deputy Commissioner of State Tax, Mumbai. The authority raised a tax demand amounting to Rs 205.9 crore (including a penalty of Rs 9.1 crore and interest).  

Bajaj Auto 

The automaker said its board would consider a share buyback at its meeting on January 8.  

Maruti Suzuki  

Maruti Suzuki India said the Gujarat GST authority has upheld the tax demand of Rs 173.9 crore along with a penalty of Rs 17.4 crore against its arm Suzuki Motor Gujarat Pvt Ltd . The subsidiary company will move the first appellate authority to challenge the order.  

InterGlobe Aviation 

The promoter of airline IndiGo has received a show cause notice from food safety regulator FSSAI for serving unsafe food to a passenger. The notice was issued days after a worm was found in a sandwich served onboard a flight. The airline said on Wednesday it has received the show cause notice and would respond as per protocol. The incident happened onboard flight 6E 6107 from Delhi to Mumbai on 29 December. 

Tech Mahindra 

The IT firm has appointed Richard Lobo as Chief People Officer of the company, effective January 3, 2024. Prior to joining Tech Mahindra, Lobo was the Executive Vice President and HR Head for Infosys Ltd.  

 

 

 

 

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