GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a subdued opening on Thursday. Here’s a look at the key stocks to watch in trade.

Stocks in Focus: GIFT Nifty was trading 14.50 points or 0.06% higher at 24,749 indicating a subdued start for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 closed the session 32 points or 0.13% higher at 24,641, while the BSE Sensex rose 16 points or 0.02% to close at 81,526.

Stocks to watch on December 12, 2024

ONGC 

ONGC is discussing technology tie-ups with global energy giants like Shell and Petronas for several offshore gas fields. The company has also firmed up plans to start drilling operations in a clutch of new fields, including the promising DWN-98/2 block in the deep waters of the Bay of Bengal, in a bid to arrest a declining trend in hydrocarbon production. “We expect oil production to start growing again in the next couple of years,” a senior company executive told FE.

Jubilant Foodworks

Coca-Cola announced it had agreed with Jubilant Bhartia Group to sell a 40% stake in Hindustan Coca-Cola Holdings. HCCH is the parent company of Hindustan Coca-Cola Beverages, Coca-Cola’s largest bottler in India. Individuals familiar with the deal at Bhartia Group have signed non-disclosure agreements with the beverage major, reported Business Standard citing sources. However, media reports suggest the deal is pegged at around Rs 12,500 crore, valuing HCCB at Rs 31,250 crore.

Reliance Power

Reliance NU Suntech, a subsidiary of Reliance Power, has bagged a 930 MW solar energy contract for battery energy storage system (BESS) project from Solar Energy Corporation of India (SECI) in an e-reverse auction held on December 9. 

Reliance Infrastructure

The Supreme Court on Wednesday issued a contempt notice to Reliance Infrastructure subsidiary Delhi Airport Metro Express Pvt Ltd (DAMEPL), its managing director (MD), as well as Axis Bank and its MD for failing to refund Rs 4,700 crore, including interest, to the Delhi Metro Rail Corporation (DMRC), as directed by the apex court on April 10.

Reliance Industries

George Heber Joseph will be the first chief investment officer (CIO) of the newly incorporated joint venture firm Jio BlackRock Asset Management Company (AMC). According to his LinkedIn profile, Joseph has been associated with Jio Financial Services since March 2023 as Head of Special Projects. He announced the appointment in a social media post.

State Bank of India 

State Bank of India (SBI) has invited counter bids from entities interested in acquiring bad debt of Rs 52,074 crore in Jaiprakash Associates (JAL) through a Swiss challenge auction, triggered by an anchor bid from state-owned National Asset Reconstruction Company. (NARCL). NARCL has made an offer of Rs 12,000 crore to acquire the debt of 25 lenders on a 15:85 cash: security receipts basis.

Tata Power

Tivolt Electric Vehicles, the EV division of the diversified business conglomerate Murugappa Group, has signed a memorandum of understanding (MoU) with Tata Power Renewable Energy to enhance e-mobility for commercial vehicles, reported Reuters citing a top official.

Shriram Finance

Shriram Finance, the flagship company of the Shriram Group, announced the successful completion of the sale of its entire stake of 84.44% in its housing finance subsidiary Shriram Housing Finance to Warburg Pincus, a leading global growth investor firm for a sale consideration of Rs 3,929 crore.