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Stocks in Focus: Ultratech Cement, ICICI Bank, Cochin Shipyard and Others

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The GIFT Nifty futures were trading in the red before the market’s opening on Thursday. Indices are expected to open on a similar negative note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex, reversed early gains and closed lower on Wednesday. Nifty dropped by 1.41% or 302.95 points to 21,150.15, while Sensex slumped 930.88 points or 1.30% to 70,506.31.

Here are a few stocks likely to remain in focus on December 21.

Cochin Shipyard: The shipbuilding company signed a deal with the Defence Ministry amounting to Rs 488.25 crore for repairing and maintaining equipment and systems onboard a naval vessel.

Raymond: The company’s unit, Raymond Lifestyle, has a wholly owned subsidiary, Ten X Realty East, to undertake redevelopment projects and real estate business.

DLF: The commercial real estate development company has sold independent floors and commercial plots for Rs 1,400 crore in Gurugram and Panchkula, Haryana. 

ICICI Bank: The Reserve Bank of India (RBI) has approved Sandeep Batra’s reappointment as the bank’s Executive Director with effect from December 23. 

Adani Green Energy: The board of the renewable energy company will consider raising funds via the issuance of equity shares or convertible securities in a meeting on December 26.

Mazagon Dock Shipbuilders: The shipbuilding company has inked a Rs 1,615 crore contract with the Ministry of Defence to construct and deliver six offshore patrol vessels for the Indian Coast Guard. Mazagon has also signed contracts worth $42 million with a European client to construct three units of 7,500 DWT multi-purpose hybrid-powered vessels. 

Sonata Software: The IT company has inked a strategic partnership with AMMEGA Group to increase transparency in performance, improve collaboration and efficiency, reduce complexities in the IT landscape, and foster digital innovations for business growth.

Ultratech Cement: The cement company has agreed with a renewable energy company, Clean Max Terra, to acquire a 26% stake for Rs 20.25 crore. 

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