Stocks in focus: Chemcon Speciality, Yes Bank, Tata Steel, Adani Green Energy, Vedanta, PNB

Nifty futures were trading 36 points or 0.26 per cent down at 14,033.20 on Singaporean Exchange, suggesting a negative start for BSE Sensex and Nifty 50 on Thursday. So far this calendar year, headline indices have surged 15 per cent. Indian markets may remain volatile as today is the last expiry of the calendar year 2020. Investors will keep tabs on newsflows related to COVID-19 vaccine, foreign fund inflows and other global cues. “Markets are likely end 2020 on a high note on the back of strong global cues, sustained inflows, and improving macros trends. The December quarterly results will be the next key event for the market and are expected to be much better due to strong festival season. As the long term market structure remains positive, we would advise investors to adopt Buying on Dips strategy to accumulate quality stocks,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus today:

Chemcon Speciality, PNB: Plutus Wealth Management LLP bought shares of Chemcon Speciality Chemicals through a bulk deal. GMR Enterprises sold shares of GMR Infrastructure while Essar India sold shares of Prabhat Technologies. Societe Generale sold shares of Punjab National Bank while Segnatii India Mauritius bought shares of the lender.

Tata Steel: Tata Steel has installed a Long Pipe Conveyor (LPC) at its opencast coal mines in the West Bokaro Division, the facility that will bring coal and by-products from the washeries to the Chainpur railway siding, replacing the existing ropeway transportation system.

Yes Bank: Yes Bank on Wednesday elevated two key senior management personnel to head the finance and human resources functions. The bank, now majority-owned by State Bank of India and other financial institutions, said its board has approved promotion of Niranjan Banodkar as the Group Chief Financial Officer (CFO) and Anurag Adlakha as the Group Chief Human Resources Officer following the recommendations of the nomination and remuneration panel and the audit committee.

Adani Green Energy: Adani Solar Energy Kutchh Two Private Limited has commissioned 100 MWac Solar Power Project at Khirsara, Gujarat, ahead of its scheduled Commercial Operation Date (COD) according to its 25-year-long Power Purchase Agreement (PPA ) with the Gujarat Urja Vikas Nigam India (GUVNL).

Vedanta: Vedanta Ltd’s promoters cannot sell or create any security on shares they hold in the group as part of the terms attached to the recent USD 1.4 billion fundraising, conditions which technically fall within the definition of ”encumbrance” but no pledge on shares has been created, the company said on Wednesday.