Latest Stock News of December 26: Key Developments and Market Insights

Sandip Raj Gupta

    26/Dec/2024

What’s covered under the Article:

  1. Key stock updates: Panacea Biotech, Bharat Forge, Garware Technical Fibres, and others.

  2. Market performance: IPO news, bonus issues, and brokerage insights.

  3. Sector trends: Housing market analysis and future projections.

Stay updated with the latest stock developments and market insights. Here are the highlights from today’s market activity:

1. Panacea Biotech surged to its 5% upper circuit after securing a $15 million (~₹127 crore) order from UNICEF for the supply of 11.5 crore bivalent oral polio vaccines (bOPV) in 2025. This marks a significant milestone in the company's international outreach.

2. Garware Technical Fibres gained approval from the NSE for a bonus issue of 7.9 crore equity shares. Shareholders will receive four equity shares with a face value of ₹10 for every share held. This move is expected to enhance shareholder value.

3. Ramky Infrastructure rose on receiving a ₹215.1 crore letter of acceptance (LoA) from the Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB). The contract involves maintaining sewage treatment plants (STPs) and related systems for five years.

4. Ceigall India shares surged after its subsidiary signed a ₹981 crore concession agreement with the National Highways Authority of India (NHAI). The agreement focuses on developing a six-lane access-controlled Ludhiana-Bathinda Greenfield highway.

5. Bharat Forge approved a €39 million (₹345 crore) investment in its German subsidiary, Bharat Forge Global Holding GmbH (BFGH), to strengthen its financial position and address borrowings in European units.

6. National Aluminium gained momentum after signing a mining lease with the Angul District Collector for the Utkal-D and Utkal-E coal blocks. This is part of its plan to increase coal production to 4 MTPA, ensuring supply to its captive power plants.

7. Jammu & Kashmir Bank appointed Amitava Chatterjee as the new Managing Director (MD) and Chief Executive Officer (CEO) for three years, effective December 30, replacing Baldev Prakash.

8. PNB Housing Finance received a bullish call from Motilal Oswal, maintaining a 'Buy' rating with a target price of ₹1160, indicating a potential 37.3% upside. The brokerage cited a robust product mix and expected revenue growth at a CAGR of 26.6% over FY25-27.

9. Welspun Corp witnessed gains as its associate, East Pipes Integrated Company for Industry, secured contracts worth approximately ₹130 crore for steel pipe manufacturing and coatings.

10. Surya Roshni received NSE and BSE approval for a bonus issue of 10.9 crore shares in a 1:1 ratio, with January 2 set as the record date.

11. Welspun Group is reportedly exploring options to reduce its stake in Welspun One. Promoters aim to grow assets under management (AUM) to $1 billion (₹83,000 crore) by 2026.

12. Vantage Knowledge Academy surged ahead of its January 7 board meeting to discuss a bonus issue and interim dividend.

13. One Mobikwik Systems hit an all-time high of ₹698.3 after 18.6 lakh shares changed hands in a block deal at an average price of ₹635.

14. Bharat Petroleum Corporation secured 150 MW in NTPC's 1,200 MW solar tender. The project, valued at ₹756.5 crore, will generate ₹100 crore annually post-completion.

15. Indian housing market trends: Anarock reported a 4% decline in housing sales across seven major cities. However, average housing prices rose 21% due to higher input costs. The total sales value reached ₹5.7 lakh crore in 2024, a 16% YoY increase.

16. India Cements announced the resignation of its MD and CEO, N Srinivasan, effective December 25.

17. Ola Electric Mobility expanded its network to 4,000 stores, enhancing EV adoption across India.

18. NTPC Green Energy shares fell as anchor investors offloaded stakes post-lock-in, with 18.3 crore shares entering the open market.

19. Redtape approved a 3:1 bonus share issue, offering three equity shares for every share held.

20. IRCTC shares declined following platform downtime due to maintenance, which has since been resolved.

21. Unimech Aerospace and Manufacturing saw overwhelming IPO demand, oversubscribed 118.5 times. Retail quota witnessed bids 45.6 times the available shares.

22. Happiest Minds Technologies reaffirmed a growth target of 30-35% for FY25, with stability expected in the EdTech and Healthcare sectors and recovery in Retail and CPG.


The Upcoming IPOs in this week and coming weeks are Citichem IndiaIndo FarmTechnichem OrganicsLeo Dry FruitsThe Current active IPO is Anya Polytech and Unimech Aerospace.

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