Stocks to Watch: Mazagon Dock, Indus Towers, Torrent Pharma, Hero MotoCorp, IGL, Metropolis Healthcare, and more | Stock Market News

Indian markets are expected to open positively on December 5, following a strong close on Wall Street, while Asian peers opened with mixed movements. The US benchmark indices reached record highs for the third consecutive session on Wednesday, with the Dow surpassing the 45,000 mark for the first time, while the S&P 500 rose by 0.6%, closing near 6,100.

Jerome Powell’s bullish comments supported risk assets. Powell said the US economy is “in remarkably good shape,” and that downside risks from the labor market had receded, in comments at the New York Times DealBook Summit in New York.

He also indicated that Federal Reserve officials could afford to be cautious as they lower rates toward a neutral level one that neither stimulates nor restrains the economy.

The following stocks are expected to be in focus during today’s trading session:

Indus Towers: Vodafone Group Plc will sell its remaining 3% stake in telecom infrastructure developer Indus Towers. The UK firm said on Wednesday that its remaining 79.2 million shares in Indus Towers will be sold through an accelerated book build offering.

The European telecommunications major is selling the shares, with most of the proceeds to be used to repay debt of about $101 million related to its Indian assets. At Wednesday’s closing price of ₹353.60 per share on BSE, the value of the shares was $331.5 million, or ₹2,800 crore.

Torrent Pharmaceuticals: The company on Wednesday said that it had entered into an agreement to acquire brands Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI).

Dynamic Services & Security: The company received an offer letter from the Government of Maharashtra for a “Mega Project” under the Package Scheme of Incentives (PSI) 2019. The project involves setting up a solar PV panel manufacturing facility with a capacity of 1800 MW at MIDC Villebhagad, Raigad district, with a fixed capital investment of ₹1,080 crore.

Bondada Engineering: The company has secured a ₹108 crore order from the Bihar Renewable Energy Development Agency. The project involves the design, supply, installation, testing, and commissioning of smart solar streetlight systems with a comprehensive 5-year maintenance contract, including remote monitoring.

The work will be carried out on existing electric poles under the Mukhyamantri Gramin Solar Street Light Yojana in Bihar, on an EPC basis.

Mazagon Dock Shipbuilders: The company has issued a clarification regarding media reports on the three additional Scorpene-class submarines under Project 75. The company stated that commercial negotiations for the project are ongoing, and no final communication has been received yet.

Metropolis Healthcare: The Board of Directors of the Company will meet on Monday, December 9, 2024, to consider and approve the issuance of equity shares on a preferential basis.

Hero MotoCorp: The company has launched the all-new, power-packed VIDA V2 range of electric scooters, reinforcing its commitment to make VIDA both aspirational and accessible while maintaining affordability.

Indraprastha Gas: The company’s Board of Directors is scheduled to meet on December 10, 2024, to consider a proposal for issuing bonus shares to its equity shareholders.

(with inputs from agencies)

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.