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Stocks in Focus: Coal India, Piramal Enterprises, Zee Entertainment 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 ended higher after a volatile session. Nifty gained 215.15 points or 1.01% to settle at 21,453.95, while Sensex ended 0.98% or 689.76 points higher at 71,060.31.

Here are some stocks that are likely to remain in focus on January 25.

Coal India: The coal mining company and Bharat Heavy Electricals Ltd (BHEL) will invest up to Rs 11,782 crore in a coal-to-ammonium nitrate joint venture (JV) project in Odisha. The cabinet has also approved the setting up of a coal-to-synthetic natural gas JV project with GAIL in West Bengal, where the companies would invest up to Rs 13,053 crore.

Mazagon Dock Shipbuilders: The acquisition wing of the Ministry of Defence inked a contract worth Rs 1070.47 crore with the shipbuilding company for the design, construction and delivery of 14 fast patrol vessels for the Indian Coast Guard.

Piramal Enterprises: Piramal Alternatives Trust, a wholly-owned subsidiary of the financial services company, has inked an agreement to acquire a 10.4% stake in Annapurna Finance for Rs 300 crore through a mix of equity and debt.

Zee Entertainment Enterprises Ltd (ZEEL): The media company has approached the National Company Law Tribunal (NCLT) seeking directions to implement the $10 billion merger with Sony Group’s Indian subsidiary, just days after receiving the termination notice from Sony.

Companies announcing their Q3FY24 Results today: ACC, Adani Power, Aeroflex Industries, Associated Alcohol & Breweries, AU Small Finance Bank, Cyient, Equitas Small Finance Bank, Hindustan Petroleum Corporation, Indian Energy Exchange, Indraprastha Gas, JSW Steel, Punjab National Bank, SBI Cards and Payment Services, SBI Life Insurance, Shriram Finance, Tata Technologies and Vedanta, among others. 

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