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Stocks in Focus: Maruti Suzuki, LIC, Eicher Motors and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Tuesday. Indices are expected to open on a similar flat-to-positive note.

Domestic benchmark indices, NSE Nifty 50 and S&P BSE Sensex finished another volatile session unchanged on Friday. Markets were closed on November 27 on account of Gurunanak Jayanti. Nifty lost 7.30 points or 0.04% to settle at 19,790.55, while the BSE Sensex closed 47.77 points or 0.07% lower at 65,970.04. 

Here are the stocks likely to remain in focus on November 28.

DLF: The Enforcement Directorate searched the premises of realty major DLF in Gurugram on Friday in connection with its money probe against another builder, Supertech Group and its promoters. The central agency has recovered some documents during the action. 

Life Insurance Corporation (LIC): LIC has initiated a total digital transformation project, DIVE (Digital Innovation and Value Enhancement) and appointed a consultant to steer the project. As part of its digital transformation exercise, the insurance behemoth is exploring the possibility of setting up a fintech unit, said chairman Siddhartha Mohanty. 

Bank of Baroda: The Reserve Bank of India (RBI) has imposed a penalty of Rs 4.34 crore on the bank for non-compliance with certain norms and directions issued by the RBI.

Fortis Healthcare: The company inked definitive agreements with MGM Healthcare for the sale of the business operations along with the land and building assets pertaining to Fortis Malar Hospital at Gandhi Nagar in Chennai for Rs 128 crore. 

Eicher Motors: The company’s subsidiary, Royal Enfield, has launched a new Himalayan bike at an introductory price of Rs 2.69 lakh, valid till December 31. Further, the company unveiled the Royal Enfield Shotgun 650, with a special colourway and edition: the Shotgun 650 Motoverse Edition, at an ex-showroom price of Rs 4.25 lakh.

Maruti Suzuki: The Company plans to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. 

Newgen Software: The board of the software company has approved the issue of bonus shares in the ratio 1:1, with the record date fixed as January 12, 2024. The board also increased the company’s authorised share capital to over Rs. 180 crore.

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