Stocks to Watch Today, December 12: Key Developments Moving the Markets
Indian equities are set for an active session today as several companies announced major business updates, project milestones, partnerships, and IPO-related developments. Here are the top stocks likely to be in focus during today’s trade.
Jindal Steel Ltd – Capacity Boost
Jindal Steel has expanded its heat-treatment capacity to 60,000 tonnes per month, positioning itself as the largest player in this segment in India. The scale-up strengthens its specialty steel capabilities and supports its long-term growth plans.
Tata Power – LOI for Transmission SPV
Tata Power has received a Letter of Intent (LOI) from REC Power Development and Consultancy Ltd to acquire Jejuri Hinjewadi Power Transmission Ltd, a special purpose vehicle (SPV) that will enhance Tata Power’s footprint in the power transmission sector.
Tata Steel – NINL Expansion Begins
Tata Steel announced that engineering activities have officially started for Phase 1 of the Neelachal Ispat Nigam Ltd (NINL) expansion. This project is expected to be one of the company's largest capital investments under its India capacity growth program.
Glenmark Pharmaceuticals – New US Launch
Glenmark Pharmaceuticals is set to introduce a new generic medication in the US this month. The drug is aimed at treating anaemia and preventing severe side effects caused by medications that interfere with folic acid metabolism.
Vedanta – Wins Critical Minerals Block
Vedanta has emerged as the successful bidder for the Genjana nickel, chromium, and PGE (platinum group elements) block under Critical Mineral Auctions – Tranche III, strengthening its presence in strategic minerals.
Infosys – Share Buyback Complete
Infosys has completed its share buyback program and confirmed the extinguishment of 10 crore equity shares, which were purchased through the tender offer route.
NBCC (India) – New Orders Worth ₹289 Crore
NBCC (India) Ltd secured fresh orders totaling ₹289 crore, including:
- ₹255.50 crore project management consultancy order from NALCO
- ₹33.89 crore order from SAIL Bokaro
Cyient – Acquisition in Abu Dhabi
Cyient has acquired Abu Dhabi and Gulf Computer Est. (ADGCE), strengthening its capabilities across energy, utilities, transportation, and connectivity sectors in the Middle East region.
RRP Defense – Collaboration With Meprolight
RRP Defense has formed a strategic partnership with Israel-based Meprolight, known for its advanced electro-optics, night-vision systems, and weapon sights. The collaboration aims to boost India’s indigenous defense ecosystem.
IPO Corner
Corona Remedies IPO – Listing on December 15
The IPO allotment was completed on December 11. The issue lists on December 15, with the grey market premium (GMP) at ₹291, marginally lower than the previous ₹295.
Wakefit Innovations – Listing Expected Monday
Wakefit’s ₹1,288.89-crore book-built IPO is likely to list on Monday. The current GMP stands at ₹0, indicating a flat listing expectation.
Park Medi World – Final Subscription Day
Today marks the final day to subscribe to the Park Medi World IPO. The issue was fully subscribed by Day 2, and the GMP is ₹8.5.
Nephrocare Health Services – Last Day to Subscribe
The ₹871.05-crore book-built IPO enters its final subscription day. With a GMP of ₹11.5, sentiment indicates a possible premium listing if demand sustains.
ICICI Prudential AMC – IPO Opens Today
The much-awaited ₹10,602.65-crore IPO of ICICI Prudential Asset Management Company opens for subscription today. A GMP of ₹150 suggests strong investor appetite.
(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.)