Top Stocks for Today - 27th November 2024

27 Nov 2024 , 07:56 AM

Here are some of the stocks that may see significant price movement today.

Vedanta: The company stated that it is planning to invest $2 Billion in Saudi Arabia to set up copper-processing facilities. This will provide a significant boost to the kingdom’s ambitions to become a global hub for mining and metals. The investment will go towards building a smelter and refinery with a capacity of 400,000 metric tons annually. Vedanta is also planning to establish a factory capable of producing up to 300,000 tonnes of copper rods per year, a critical component of electrical lines.

Dabur: The Indian FMCG major has secured an order from the Additional Commissioner, CGST Commissionerate, Chandigarh, confirming a claim of ₹320.6 Crore plus applicable interest. The demand relates to tax information obtained by the Directorate General of Goods and Services Tax Intelligence as part of an ongoing review of the company’s tax compliance. The company stressed that the order does not affect its operations or commercial activities, and the financial impact will be limited to the final tax liability and any associated interest.

Siemens: The company reported a 45.4% year-on-year (YoY) increase in net profit to ₹830.7 Crore for the fourth quarter ending September 30, 2024. In the preceding fiscal quarter, Siemens reported a net profit of ₹571.3 Crore. The company’s revenue from operations climbed by 11.2% to ₹6,461 Crore from ₹5,807.7 Crore in the previous year.

GE Vernova: The company announced that Grid Equipments Private Ltd, its promoter, will exercise the green shoe option in its offer for sale (OFS). The overall offer size will be up to 21,451,168 equity shares, representing 8.38% of the company’s paid-up equity capital. The OFS’ base offer is of 14 million shares (5.47% of equity) with an additional green shoe option of 7,451,168 shares (2.91%). The floor price for the offer is ₹1,550 per share.

Exide Industries: The battery producer has invested ₹99.99 Crore in its wholly-owned subsidiary, Exide Energy Solutions Ltd (EESL), via a rights issue. The investment brings EIL’s total shareholding in EESL to ₹3,052.24 Crore, while the ownership ratio remains at 100%. EESL, established in March 2022, manufactures and sells lithium-ion battery cells, modules, and packs for the Indian electric vehicle (EV) market and stationary applications.

Patanjali Foods: The state-owned Life Insurance Corporation of India (LIC) said it upped its stake in the edible oil major from 4.986% to 5.02% of the company’s paid-up capital. The move involved acquiring 1,25,000 equity shares through an open market buy at an average price of ₹1,764.96 per share. Following the acquisition, LIC’s total equity stake in Patanjali Foods increased from 1,80,48,377 to 1,81,73,377 shares.

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