Stocks to Watch Today – December 3: Adani Enterprises, Bajaj Finance, IndiGo, IRFC, LIC and More
Indian equities are poised for an active trading session today as multiple companies announced key business developments, regulatory actions, fundraising plans and expansion initiatives. From stake sales and penalties to IPO openings and management changes, here are the top stocks likely to remain in focus on December 3.
Bajaj Finance: Promoter Stake Sale Worth ₹1,588 Crore
Bajaj Finance Ltd has sold a 2% stake in its subsidiary, Bajaj Housing Finance, via open market transactions. The sale has generated approximately ₹1,588 crore and is expected to support capital requirements and long-term strategic plans.
Maruti Suzuki: Aggressive EV Push
Maruti Suzuki India is gearing up for a major electric vehicle expansion. The company plans to roll out multiple EV models across different body types as part of its strategy to lead the growing EV market. It also intends to create a widespread national charging infrastructure, according to reports.
Oil India: Boost from Navratna Status for NRL
Numaligarh Refinery Ltd (NRL) has been upgraded to Navratna status, offering greater operational autonomy. Oil India Ltd, the majority shareholder with 69.63% ownership, is expected to benefit significantly from the enhanced status.
SBI, HDFC Bank, ICICI Bank: RBI Retains D-SIB Classification
The Reserve Bank of India has reaffirmed the classification of SBI, HDFC Bank and ICICI Bank as Domestic Systemically Important Banks (D-SIBs), underscoring their crucial role in the country’s financial stability.
InterGlobe Aviation (IndiGo): Penalty Under Challenge
IndiGo has received a penalty order of ₹117.52 crore related to input tax credit discrepancies. The airline said it will contest the ruling issued by the CGST Kochi Commissionerate.
Adani Enterprises: Completes Trade Castle Tech Park Acquisition
Adani Enterprises Ltd has finalized the acquisition of Trade Castle Tech Park Pvt Ltd for ₹231.34 crore. The acquired entity owns significant land parcels, which may support future infrastructure and development plans.
Motilal Oswal Financial Services: Clears ₹300 Crore NCD Issue
Motilal Oswal Financial Services’ Finance Committee has approved issuing up to 30,000 secured, rated, redeemable non-convertible debentures. The issue size totals ₹300 crore, with each bond priced at ₹1 lakh.
IndiGrid Infrastructure Trust: Acquires ₹372 Crore Transmission Project
IndiGrid has signed an agreement to acquire an interstate transmission project in Karnataka valued at ₹372 crore. The move strengthens its portfolio in India’s power transmission sector.
LIC: New Managing Director Appointed
Life Insurance Corporation of India has promoted Ramakrishnan Chander as Managing Director, effective December 1, 2025. The leadership change comes as the insurer continues to expand its digital and business operations.
IRFC: Signs USD 300 Million ECB Loan Deal
Indian Railway Finance Corporation (IRFC) has entered into an agreement with Sumitomo Mitsui Banking Corporation (SMBC), GIFT City, to raise external commercial borrowing equivalent to USD 300 million, aimed at supporting long-term railway financing needs.
IPOs in Focus Today
Vidya Wires IPO Opens
Vidya Wires has launched a ₹300.01 crore book-built issue, opening for subscription today. The IPO is set to list on BSE and NSE on December 10. The grey market premium (GMP) stands at ₹6, implying an estimated listing price of ₹58.
Aequs IPO Opens for Subscription
Aequs, a leading aerospace manufacturing player, opens its IPO with a price band of ₹118–₹124 per share. A GMP of ₹46.5 suggests a potential listing gain of around 37.5%.
Meesho IPO Opens
SoftBank-backed Meesho launches its massive ₹5,421.20 crore IPO today. Strong investor interest and a GMP of ₹49 indicate healthy demand and a favourable listing outlook.
(Disclaimer: The content above is provided solely for informational purposes and should not be treated as investment advice. SmartInvestment advises readers to consult a qualified financial advisor before making any investment or money-related decisions.)