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Stocks in Focus: Reliance Power, PB Fintech, GMR Airports, and Others

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The GIFT Nifty futures, which is an early indicator of the Nifty50 index, was trading 0.03% higher by 6.5 points at 24,540, indicating that the domestic benchmark indices are likely to make a lacklustre start on Wednesday. 

On Tuesday, 3 December, Domestic benchmark indices S&P BSE Sensex surged 597 points or 0.74% to end at 80,845 while the Nifty50 traded 181 points higher or 0.75% and settled at 24,457.

Here are some stocks that are likely to remain in focus on 4 December.

Reliance Power: Solar Energy Corporation of India has taken back the debarment notice that was issued against the company, which will enable them to take part in future tenders of the public sector. 

PB Fintech: The board of directors of the company has approved incorporating a healthcare arm that will undertake healthcare and allied services. The company will offer health services through this arm, PB Healthcare. 

GMR Airports: The company has received approval from the Competition Commission of India (CCI) for a proposed transaction that involves GMR Infra Enterprises Pvt Ltd and the trust of the Abu Dhabi Investment Authority. 

Vodafone Idea: The company’s revenue market share has slumped to an all-time low of 14.5% during the July-September quarter, witnessing a sharp decline in all 22 circles. 

Godrej Properties: The company has announced raising Rs 6,000 crore via Qualified Institutional Placement (QIP). The demand for the QIP was 4 times the size of the issue. After the fundraising, the company’s net worth grew by more than 50%. 

IndiGo: The company has filed a trademark infringement lawsuit against Mahindra Electric Automobile with the Delhi High Court, barring the use of ‘6E’ for its upcoming electric car, Mahindra BE 6E, which is set to launch in February 2025.

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