Stocks of the Bhusan Steel will be in focus as the National Green Tribunal allowed the company’s Sahibabad plant in Uttar Pradesh, which had been ordered to be closed for polluting the environment, to operate for three weeks.
The BSE Sensex and NSE Nifty are expected to open in positive terrain tracking global cues.
Domestic equity markets closed in green on Wednesday on account of buying in front line blue chip stocks. Sensex closed 173.93 points up at 25,494.37, while Nifty closed 50 points up at 7,750.90.
Below are the stocks that are likely to be in focus:
Bhushan Steel: The National Green Tribunal allowed Bhushan Steel and Strips Ltd’s Sahibabad plant in Uttar Pradesh, which had been ordered to be closed for polluting the environment, to operate for three weeks. The green panel also directed a joint inspection team, comprising members from IIT-Delhi, Uttar Pradesh Pollution Control Board and Central Pollution Control board, to inspect the unit and submit a comprehensive report to it within a week.
Reliance Infrastructure and Pipavav Defence: Stocks of these companies will be in focus as Anil Ambani-led Reliance Infrastructure has acquired an additional 17 per cent stake in Pipavav Defence for an estimated Rs 850 crore through an open offer, taking its total holding to nearly 35 per cent.
ONGC: The Cabinet approved ONGC Videsh Ltd buying 15 per cent stake in Russia’s Vankor oilfield for USD 1.26 billion, the first oil deal since the Narendra Modi-led government came to power. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), will get 4 million tonnes of oil and oil equivalent gas for the stake in Vankorneft, the developer of the Vankor oil and gas condensate field in Turukhansky district of Krasnoyak Territory in Russia.
NTPC: The National Thermal Power Corporation (NTPC) has urged the Delhi government not to shut down its coal-based Badarpur thermal power plant here, a week after being served a closure notice for being a contributor to air pollution.
Suzlon: Billionaire Dilip Shanghvi- controlled entities along with promoters of Suzlon will make an open offer worth Rs 2,837 crore to acquire 26 per cent stake in the wind turbine maker. The offer, that would begin on December 28 and close on January 8, 2016, comes after Shanghvi decided to acquire 23 per cent stake in Suzlon with an equity investment of Rs 1,800 crore. The deal was announced earlier this year.
Hubtown: Realty firm Hubtown Ltd said it has delayed the redemption of debentures worth Rs 100 crore due to liquidity crunch. In a filing to the BSE, the company informed that “owing to the liquidity crunch, the company has delayed the redemption in full, the principal amount of the Rated Secured Redeemable Non-convertible Debentures aggregating Rs 100 crores.” The due date for redemption was December 14, 2015.
State Bank of India: SBI is looking to raise both equity and non-equity capital through issuance of preferential shares and bonds, and a meeting of the Committee of Directors is slated for Monday to consider these proposals.
Power Finance Corporation: Corporation declared an interim dividend of Rs 8.80 per share for 2015-16, which will fetch Rs 787.53 crore to the government. Power Finance Corp in a filing to the BSE said that its board at its meeting held on December 16, 2015, “declared and approved the payment of interim dividend @ Rs 8.80 per equity share on the face value of the paid-up equity shares of Rs 10 each for the Financial Year 2015-16”.
Golden Tobacco: Dalmia Group firm Golden Tobacco Ltd said it has been issued a Rs 121.55-crore demand notice by the central excise department, which the company is contesting.
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