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Stocks to Watch: Sun Pharma, Infosys, Dixon, DLF, Mankind Pharma, SpiceJet

Stocks to watch on December 12, 2023: Sun Pharma has increased its offer price for acquiring remaining shares of Taro Pharma to $43 per share in cash, compared to $38 before


Photo: Bloomberg

Harshita Singh New Delhi

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Equity benchmarks Sensex and Nifty will look to build on recent gains on Tuesday, which will see important inflation data releases in India and the US after market hours. At 7:30 am, the Gift Nifty futures were up 60 points at 21,148. 

Elsewhere in Asia, Nikkei and Hang Seng rose 0.7 per cent each. CSI 300, Kospi and S&P/ASX 200 were also in green, up 0.05-0.4 per cent. 

In the US, the Dow gained 0.43 per cent, the S&P500 rose 0.39 per cent and the Nasdaq Composite added 0.20 per cent overnight. 

Here are some stocks to watch: 

Infosys: The company's board has appointed Jayesh Sanghrajka as the chief financial officer (CFO) with effect from April 1, 2024 as he replaces Nilanjan Roy. 

Coal India: The Coal ministry estimates annual coal output to be at 1.5 billion tonne by 2029-30. Coal India's output is expected to be 1.12 bn tonne by this time.

Sun Pharma: The company has increased its offer price for acquiring remaining shares of Taro Pharma to $43 per share in cash, compared to $38 before. 

Dixon Technologies: Its wholly-owned subsidiary Padget Electronics has won a contract from Lenovo to manufacture laptops and notebooks, under the Production-Linked Incentive (PLI) 2.0 Scheme. 

Mankind Pharma: As per CNBC-TV18, the company will likely see a block deal of 7.9 per cent equity today. The total block deal size is likely to be around Rs 5,649 crore. Beige Investment, Link Investment Trust, Cairnhill CIPEF, Cairnhill CGPE, and Hema CIPEF are likely sellers in the block deal.

DLF: Group chief financial officer (CFO) Vivek Anand has tendered his resignation after a four-year tenure. Anand would remain the group CFO till February 29, 2024. 

SpiceJet: The meeting of the board of directors has been adjourned to December 12 to consider Q2 earnings and options for raising fresh capital. 

Mahindra & Mahindra: It produced 69,875 units in November, up 13.4 per cent from last year. Total sales grew 24.6 percent YoY to 68,760 units, but exports fell 41.8 per cent to 1,816 units in the same period.

Jammu & Kashmir Bank: The company launched its qualified institutional placement to raise Rs 750 crore. The floor price for the QIP is set at Rs 112.66 per share, a 10 per cent discount to last close.

BLS International Services: It has received the contract for outsourcing Consular, Passport, and Visa services from the High Commission of India (HCI) in Canada. This contract encompasses operations at HCI in Ottawa and Consulate Generals of India in Toronto and Vancouver.

Sejal Glass: Chandrakant Vallabhaji Gogri, a part of the promoter group, is selling 11.15 lakh equity shares of the company via an offer-for-sale on December 12–13. 

Capri Global Capital: The company has received a Corporate Agency license from the Insurance Regulatory and Development Authority of India (IRDAI) for setting up its Insurance business.

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First Published: Dec 12 2023 | 7:45 AM IST

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