Stocks To Watch On 12 December: Infosys, Mankind Pharma, RVNL, Others In News

Equity benchmark indices scaled newer heights on Friday amid positive momentum in select banking, metal, and IT shares. The BSE Sensex jumped to a record intra-day high of 70,057.83 points. It settled 102.93 points or 0.15 per cent higher at 69,928.53 points. The NSE Nifty also touched its record trading high of 21,026.10 after gains in global markets. The 50-share index closed 27.70 points or 0.13 per cent higher at 20,997.10, its all-time closing high. All sectors ended in green, except for Pharma.

“Strong domestic economic growth along with return of FIIs are expected to drive the market higher in the coming months. However, for the next few days markets are likely to consolidate in a range given global central banks are set to announce policy outcome this week. Further, US and India inflation along with India’s manufacturing data to be release on Tuesday would keep investors cautious,” said Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services Ltd.

Top Stocks To Watch On 12 December:

Infosys

The IT major announced that its Board of Directors has appointed Jayesh Sanghrajka as the Chief Financial Officer with effect from 1 April 2024. He will take over the position from Nilanjan Roy, who after serving in this role since 2018, has decided to step down.

Mankind Pharma

Five private equity funds - Beige Investment, Link Investment Fund, Cairnhill CIPEF, Cairhill CGPE, and Hema CIPEF are likely to reduce their stake in the pharma company though a block deal on 12 December, reported CNBC-TV18. The PE funds will sell up to 7.9 per cent stake under the upsize option at Rs 5,649 crore, while the base size would be 6.9 per cent at Rs 4,935 crore.

REC Limited

The state-owned infrastructure finance company has signed a Euro 200 million ($215 million) loan agreement with German bank KfW. The loan will be used to undertake reforms in India’s distribution sector in line with the Revamped Distribution Sector Scheme (RDSS) of the Government of India.

Rail Vikas Nigam Ltd

The state-owned RVNL has bagged Rs 543 crore order from Madhya Pradesh Metro Rail Corporation. The project includes construction of elevated stations for the Indore Metro Rail Project. "RVNL-URC JV emerges as the lowest bidder (L1) for part design and construction of elevated viaduct, five elevated metro rail stations…for Indore Metro Rail Project," the PSU said in a filing to BSE.

DLF

The real estate major said its group chief financial officer (CFO) Vivek Anand has submitted his resignation, following a four-year tenure. He would remain on the position till 29 February, 2024, which is his final date of working with the company, DLF said in an exchange filing. DLF MD Ashok Kumar Tyagi, who has the overall responsibility for all corporate functions including Finance, will now have oversight of the Group Finance, IT, and secretarial functions.