Mahindra Holidays & Resorts India said Sweden-based Visionsbolaget AB has become its subsidiary through a group firm. (Thinkstock)
The BSE Sensex and NSE Nifty are expected to open in positive terrain on Wednesday following firm global cues.
Back home, the BSE Sensex and NSE Nifty on Tuesday extended gains for the second day on account of short coverings and value buying in front line blue chip stocks. Sensex closed 170.09 points up at 25,320, while Nifty50 index settled 50.85 points up at 7,700.90.
Below are the stocks that are likely to be in focus today
Sugar stocks: A bill seeking to raise the sugar cess ceiling from Rs 25 to Rs 200 per quintal was passed by the Lok Sabha on Tuesday, with the government saying it will help cane-growers who are in crisis as it can facilitate rehabilitation and modernisation of sugar factories. The Sugar Cess (Amendment) Bill 2015 was passed by a voice vote in the House.
Visa Steel: Stocks of the company will be in focus as the strategic debt restructuring (SDR) plan for Visa Steel has run into rough weather with one of the non-consortium lenders, Housing and Urban Development Corporation (Hudco), throwing a spanner in the works.
Mahindra Holidays & Resorts: Mahindra Holidays & Resorts India said Sweden-based Visionsbolaget AB has become its subsidiary through a group firm. Holiday Club Sweden AB, a step-down subsidiary of Mahindra Holidays & Resorts, has subscribed 51 per cent stake in Visionsbolaget.
Thomas Cook: Travel firm Thomas Cook (India) said that it has received approval from competition watchdog CCI for its acquisition of rival Kuoni Travel. The Competition Commission of India (CCI) has passed an order approving the proposed deal, Thomas Cook India said in a statement.
BHEL: State-owned power equipment maker Bhel has commissioned a 500 mw thermal power plant in West Bengal. “Bhel has added one more coal-based power plant to the grid by successfully commissioning a 500 MW thermal generating unit in West Bengal,” the company said in a statement . The 500 MW unit 3 was commissioned at the upcoming Sagardighi Thermal Power Extension Project of West Bengal Power Development Corporation (WBPDCL), located at Sagardighi in Murshidabad district.
Larsen & Toubro (L&T): Engineering major Larsen & Toubro (L&T) said Canada Pension Plan Investment Board (CPPIB) has invested Rs 1,000 crore in its infrastructure arm L&T IDPL. This is the second tranche of investment made by CPPIB’s in L&T Infrastructure Development Projects Ltd. In June last year, CPPIB had committed to invest Rs 2000 crore in L&T IDPL. “CPPIB completed its second tranche investment of Rs 1,000 crore,” L&T said in a regulatory filing.
LIC Housing Finance: LIC Housing Finance Ltd (LIC HFL) will acquire 19.3 per cent shares of LIC Nomura Mutual Fund Asset Management Company for Rs 27 crore. Besides, it will also buy a stake of similar percentage in LIC Nomura Fund Trustee Company Pvt for about Rs 1.5 lakh. Both the decisions were taken at the company’s Board of Directors meeting held .
Maruti Suzuki: Voting by minority shareholders of Maruti Suzuki India to let its Japanese parent Suzuki invest and own the upcoming plant in Gujarat ended . The voting through postal ballot took place from November 16 to December 15 while the results will be announced on December 17.
Nestle India: The Supreme Court sought the Centre’s response to a plea of Nestle India Ltd against an order for testing of 16 more samples of Maggi noodles in connection with the government’s Rs 640 crore suit against the company for alleged unfair trade practices.
Indian Oil Corp, BPCL, HPCL: Stocks of these oil marketing companies will be in focus as they cut petrol price by 50 paise and diesel by 46 paise a litre, much lower than an anticipated decrease as oil companies left cushion for the government to mop up gains accruing from global oil prices dipping to multi-year lows.
Strides Shasun: Drug firm Strides Shasun said it is evaluating claims made by US-based Mylan, to which it sold Agila Specialties for $1.75 billion in 2013, over compliance with USFDA manufacturing norms.
Sharon Bio-Medicine Ltd: Sharon Bio-Medicine has received establishment inspection report form the US health regulator after the inspection of its Dehradun facility.
Alstom T & D India: Alstom T & D India Ltd announced the commencement of regular operations at its facilities in Pallavaram and Padappai, which were closed because of heavy rains in Chennai.
Vedanta, Adani: Companies from Vedanta, Adani and Essel groups are in fray for a Rs 1,500-crore transmission project in Odisha. “For Common Transmission System for Phase-II Generation Projects in Odisha and Immediate Evacuation System for OPGC Project in Odisha, Sterlite Grid, Adani and Essel have submitted financial bids ,” a source said. Sterlite Grid is a Vedanta group firm. The deadline for submission of financial bids for the project ended.
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