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Stocks in Focus: State Bank of India, ONGC, Pricol, 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 7 points at 24,429, indicating that the domestic benchmark indices are likely to make a lacklustre start on Tuesday. 

On Monday, 2 December, Domestic benchmark indices S&P BSE Sensex surged 445 points or 0.56% to end at 80,248 while the Nifty50 traded 145 points higher or 0.60% and settled at 24,276.

Here are some stocks that are likely to remain in focus on 3 December.

ONGC: The company is looking to venture into mining offshore minerals as it has technical expertise in drilling surface and offshore areas. 

State Bank of India: The company has announced their plans to open 500 new branches across the country during the fiscal year 2025, of which 135 new branches have been opened till 31 October 2024.

Priscol: The company announced acquiring Sundaram Auto Components Injection Moulding business via a wholly-owned subsidiary of the company, Pricol Precision Products Private Limited. 

Tata Consumer Products: The company has proposed to double the number of beverage vending machines to around 4,000 by the end of the current fiscal year by tapping the restaurants, hotels, and catering segment. 

Nazara Technologies: The Board of Directors of the company has approved five investments worth Rs 196 crore, which includes acquiring a 100% stake in Sportskeeda owner firm Absolute Sports.

Vodafone Idea (Vi): The company has announced the launch of a spam management solution, which is similar to Bharti Airtel and BSNL. The company’s spam filter will be powered by artificial intelligence and machine learning that has already caught over 24 million spam texts. 

Axis Bank: The company is waiting for clarifications from the Reserve Bank of India (RBI) for its subsidiary, Axis Finance. This comes after the regulator proposed that only one entity within a bank group can undertake a specific type of permissible business. 

Swiggy: The company has announced that they have expanded its 10-minute food delivery service, Bolt, to more than 400 cities nationwide. 

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