Stocks to Watch on Monday: Indian stock markets remained in the green this trading week (22 to 26 December) with slight gains. However, the momentum seen at the beginning of the week could not be sustained till the end. Sensex and Nifty closed with a decline on Friday. Now the eyes of investors are fixed on the next trading week (29 December to 2 January). Due to important news and corporate updates related to some companies, there may be significant movement in some stocks on Monday, December 29. Let us know 9 such stocks, which can remain on the radar of investors in the next week-
1. Punjab National Bank (PNB)
Investors will keep an eye on the shares of public sector bank PNB. The bank said in an exchange filing late Friday evening that a loan fraud of ₹2,434 crore involving former promoters of two SREI Group companies has been unearthed. After this big disclosure, fluctuations in the stock are possible.
2. Coforge
IT sector company Coforge has announced the acquisition of Encora. This deal has been done at an enterprise value of $2.35 billion. After this acquisition, the annual revenue of the combined company can reach around $2.5 billion, which can lead to a positive reaction on the stock.
3. Vikran Engineering
Vikran Engineering has informed about receiving Letter of Award (LOA) for 45.75 MW solar power projects in Madhya Pradesh. Due to this update related to renewable energy, movement in the stock is possible.
4. Aurobindo Pharma
CuraTeQ Biologics, a subsidiary of Aurobindo Pharma, has mutually terminated the licensing agreement with America’s BioFactura Inc. This agreement was related to the development of a biosimilar of Stelara (Ustekinumab). The effect of this news can be seen on the stock.
5. Solarworld Energy Solutions
Solarworld Energy Solutions has received a large EPC order worth about ₹725.33 crore from NTPC Renewable Energy Limited. This order is linked to a 250 MWac grid-connected solar PV project, which will keep the stock in focus.
6. Tamilnad Mercantile Bank (TMB)
Tamilnad Mercantile Bank is going to open 5 new branches across the country on 29th December. This news related to the expansion of the bank may attract the attention of investors.
7. Timex Group India
Timex Group Luxury Watches BV, the promoter company of Timex Group India, has announced to sell its 8.93% stake in the company through Offer for Sale (OFS). The floor price of OFS has been fixed at ₹275 per share, which may increase the volume in the stock.
8. Shree Cement
Shree Cement has received a GST demand notice of ₹25.6 crore from the Bihar state tax department. This includes tax, interest and penalty. This matter is related to valuation and additional ITC claim, the impact of which can be seen on the stock.
9. Diamond Power Infrastructure
Power cable manufacturing company Diamond Power Infrastructure has received a new big order. The company said in a communication to the stock exchanges that it has received a letter of intent from Hild Projects Private Limited for the supply of power cables worth ₹66.18 crore. Tax is not included in this amount.
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