Stocks to watch 20 December
Stocks to watch 20 December

Stocks To Watch On 20 December: IndusInd Bank, Varun Beverages, RVNL, Others In News

The BSE Sensex climbed 122.10 points or 0.17 per cent to settle at 71,437.19. The NSE Nifty closed higher by 34.45 points or 0.16 per cent at 21,453.10

Benchmark equity indices Sensex and Nifty touched new record high levels in a volatile session on Tuesday before closing with gains after buying in FMCG and oil shares and positive global cues.

The BSE Sensex climbed 122.10 points or 0.17 per cent to settle at 71,437.19. The benchmark jumped 308.62 points or 0.43 per cent to reach its all-time intra-day high of 71,623.71. The NSE Nifty rallied 86.4 points or 0.40 per cent to hit its record peak of 21,505.05. It 50-share index closed higher by 34.45 points or 0.16 per cent at 21,453.10.

"The broader market sustained its optimism, but the incremental rally is contracting. Investors are cautious ahead of the Eurozone inflation data announcement, which is forecast to drop marginally. The dovish stance by BOJ maintained the market sentiments. Amid this, the price of oil stabilized as the US government announced plans to protect the shipping route through the Red Sea. After the recent rally of growth stocks, investors are exhibiting interest in consumption stocks as a bargain strategy," said Vinod Nair, Head of Research at Geojit Financial Services.

Top Stocks To Watch On 20 December:

IndusInd Bank

The private sector bank is likely to sell up to 1.79 crore shares or 2.86 per cent equity share in Nippon AMC through block deals, reported CNBC-TV18. The floor price has been fixed at Rs 426.60 per share, which is a 5 per cent discount to Tuesday's closing price. The total offer size for the Nippon AMC stake stands at Rs 762 crore.

Varun Beverages

The beverage company’s board has approved to aquire South Africa (Bevco), for Rs 1,320 crore with an option to accept minority co-investment from a large equity fund. Bevco is a manufacturer and distributor of PepsiCo's own-branded non-alcoholic beverages in South Africa. In addition, the company also signed a MoU with the Jharkhand government to setup a manufacturing plant in Pataru with an outlay of Rs 450 crore.

Rail Vikas Nigam

The RVNL and Kerala Rail Development Corporation joint-venture (JV) emerged as the lowest bidder for a contract to redevelop Varkala Sivagiri Railway station in Kerala. The project is expected to cost around Rs 123.26 crore and take 30 months to complete.

Deepak Nitrate

The company has received approval for a binding term sheet with Petronet LNG Ltd for the off take of 250 KTPA of propylene and 11 KYPA of hydrogen. The offtake is set to originate from the Petronet Petrochemical Project situated in Dahej, Gujarat.

Container Corporation of India

CONCOR and Schenker India Private Limited (DB Schenker), one of the leading Logistics companies, have signed an MoU to collaborate for EXIM & domestic business. With the MoU, the companies aim to provide sustainable supply-chain practices in the logistics industry.

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