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Stocks in Focus: ONGC, Reliance Power, Tata Power and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.06% higher by 14.50 points at 24,672, indicating that the domestic benchmark indices are likely to make a positive start on Thursday. 

On Wednesday, 11 December, Domestic benchmark indices S&P BSE Sensex grew 16 points or 0.02% to end at 81,526 while the Nifty50 traded 32 points lower or 0.13% and settled at 24,641.

Here are some stocks that are likely to remain in focus on 12 December.

ONGC: The company is looking for technology tie-ups with Shell and Petronas for several offshore gas fields. The company has started plans to start drilling operations in the clutch of new fields, which includes the DWN-98/2 block in the deep waters of the Bay of Bengal. 

Reliance Power: The subsidiary of the company, Reliance NU Suntech, has announced securing a 930 megawatt (MW) solar energy contract for a battery energy storage system project from Solar Energy Corporation of India. 

Tata Power: Tata Power Renewable Energy has signed a Memorandum of Understanding (MoU) with Tivolt Electric Vehicles, which is the EV division of the diversified business conglomerate Murugappa Group. 

Gland Pharma: The company has secured approval from the US Food and Drug Administration (USFDA) for Phytonadione Injectable Emulsion USP, 10 mg/mL Single Dose Ampules.

ACME Solar Holdings: The company has announced securing a 250 megawatt (MW) Firm and Dispatchable Renewable Energy project through an e-reverse auction that was held by NHPC on 10 December for a tariff of Rs 4.56 per unit. 

Godawari Power Ispat: The company has announced signing an agreement with GAIL (India) to supply RLNG gas for its upcoming pellet plant for 7 years. 

Ami Organics: The company’s Board of Directors has approved the enhancement of capital expenditure of Rs 177 crore for their brownfield project of electrolyte additives products at the Jhagadia facility.

Shriram Finance: The flagship company of Shriram Group has announced successfully completing the sale of its entire stake of 84.44% in its housing finance subsidiary Shriram Housing Finance to Warburg Pincus. 

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