Here’s a quick overview of stocks that are expected to be in focus in today’s trade:
IT Stocks: Accenture posted impressive Q1 FY25 results, reporting revenue of $17.7 billion, marking a 9% YoY increase in US dollar terms, and 8% in local currency. This performance led to a 5% surge in its shares during premarket trading on December 19. Additionally, Accenture raised its annual revenue growth forecast to 4-7%, up from 3-6%, although it still falls slightly below analysts’ expectations of 5.63%.
KPI Green Energy: KPI Green Energy has set January 3 as the record date for its proposed bonus issue of equity shares in a 1:2 ratio, subject to shareholder approval through a postal ballot. The bonus shares will be dispatched by January 14, 2025. The company has also partnered with the Rajasthan government to develop hybrid solar and wind power projects in Jaisalmer.
Bharti Airtel: Bharti Airtel announced the prepayment of its remaining ₹3,626 crore spectrum liabilities from 2016, eliminating an interest burden exceeding 8.65%. In total, Airtel has prepaid ₹28,320 crore in spectrum-related debt this year.
IndiGo: IndiGo, operated by InterGlobe Aviation, approved an inter-corporate loan of up to $43 million for its subsidiary IndiGo IFSC to fund aircraft acquisitions. The loan, with a tenure of 10 years, carries an interest rate linked to the six-month SOFR benchmark plus a spread of 275 basis points.
AU Small Finance Bank: AU Small Finance Bank received RBI approval for the reappointment of Harun Rasid Khan as Part-Time Chairman for a three-year term, effective from December 28, 2024.
Hyundai Motor India: Hyundai Motor is set to become the first automaker in India to incorporate locally manufactured battery cells in its electric vehicles. The company has signed a binding term sheet with Exide Energy Solutions, a subsidiary of Exide Industries, to produce lithium-iron-phosphate (LFP) battery cells for Hyundai’s EVs, boosting cost competitiveness and supporting India’s carbon-neutrality goals.
JK Cement: JK Cement successfully bid for the Mahan coal mine in Singrauli, Madhya Pradesh, with geological reserves of 107.4 million tonnes. The acquisition aligns with the company goal of self-reliance for its cement plants, and surplus coal will be sold commercially.
Dhanlaxmi Bank: Dhanlaxmi Bank approved a ₹297.54 crore rights issue, offering shares at ₹21 each. The rights issue will be available to eligible shareholders from January 8 to January 28, 2025.
Parle Industries: Parle Industries plans to increase prices by at least 5% across its product range, including bread, biscuits, rusks, cakes, and snacks, starting January 2025, due to rising input costs.
