Reliance Industries, BSNL to Adani Group Stocks: Stocks to watch on November 29, 2024

Adani Group Stocks: Despite US charges against Gautam Adani, Abu Dhabi's IHC reaffirms its support for the Adani Group, while Indian banks assess their exposure to the conglomerate's stocks.

Reliance Industries (RIL): RIL’s US arm, Reliance Finance and Investments, acquires a 21% stake in Wavetech Helium, enhancing its position in the eco-friendly helium market.

Nazara Technologies: Nazara Technologies successfully raises Rs 855 crore through a preferential issue, attracting investment from SBI and other funds at Rs 954.27 per share.

Sun Pharmaceuticals: Sun Pharmaceuticals faces penalties from the Ministry of Corporate Affairs for failing to disclose related-party transactions and obtaining required approvals from shareholders and the board.
 

Dr. Reddy’s Laboratories: Dr. Reddy’s Laboratories launches Toripalimab in India to treat nasopharyngeal carcinoma, a rare and aggressive cancer affecting the head and neck.

Sugar Stocks: Sugar cooperatives, comprising 30% of India’s sugar output, deny labor exploitation allegations, claiming these claims are designed to divert customers to non-cooperative producers.

BSNL: BSNL announces installing 50,000 4G sites, with 41,957 already operational, as part of its nationwide network expansion to enhance digital connectivity.
 

KEI Industries: KEI Industries raises Rs 2,000 crore by issuing 52.63 lakh equity shares to institutional investors at a 2.07% discount to the floor price of Rs 3,880.54 per share.

Insurance Stocks: HDFC Life, SBI Life, and Max Life clarify that no directive from IRDAI limits bancassurance, refuting rumors and ensuring no impact on the sector.

With effect from November 29, the Bombay Stock Exchange has revised the price range for equities such as Adani Total, Paytm, LIC, Jio Financial, Angel One, and Zomato to 10%.