1 week ago
SUMMARY
stocks to watch, Mahindra, IndiGo, Reliance Power, Honasa Consumer, EPACK Durable, ONGC, RVNL, IEX and more, these are the stocks to watch for today.
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Mahindra and IndiGo | Both companies were locked in a tussle over infringement of '6e' trademark, despite the automaker claiming it is in discussions to find an amicable solution. The automaker, which introduced two electric brands -- BE 6e and XEV 9e -- earlier this month, said its trademark 'BE 6e' differs from IndiGo's '6E', eliminating any risk of confusion. IndiGo, which uses 6E as the airline designator code, however, refuted the claim by the Mumbai-based automaker.
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Reliance Power | The Solar Energy Corporation of India Ltd announced the withdrawal of its debarment notice against Reliance Power Ltd and its subsidiary, Reliance NU BESS Ltd, effective immediately. The initial notice, issued on November 6, 2024, barred the entities from participating in SECI's future tenders for three years. SECI’s decision follows legal proceedings concerning the matter.
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Honasa Consumer | Varun Alagh, co-founder of Honasa Consumer which owns Mamaearth and The Derma Co, on Tuesday (December 3) increased his stake in the company to 31.93% with a ₹4.5 crore investment, as per filings on the NSE. Now, Co-Founders Varun and Ghazal Alagh hold a combined 35% stake in the company, a notable figure in the startup ecosystem, where founders typically hold minimal equity after multiple funding rounds.
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EPACK Durable | The company said its manufacturing facility in Bhiwadi, Rajasthan, was subject to a search by officials from the Special Intelligence and Investigation Branch (SIIB), Office of the Commissioner of Customs (Preventive), Jaipur, on December 2. The search, conducted under the provisions of the Customs Act, 1962, commenced at 1 pm and concluded at 7 pm the same day.
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ONGC | State-owned company said it has raised its equity stake in its subsidiary, ONGC Petro Additions Ltd (OPaL), from 94.57% to 95.69% through the subscription of 490.6 crore equity shares at ₹10 each via a rights issue. The investment amounted to ₹4,906.20 crore. For FY24, OPaL reported a turnover of ₹14,323 crore.
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RVNL | State-owned company announced it has received a letter of acceptance (LoA) from East Central Railway. The contract involves the "design, supply, erection, testing, and commissioning of traction substations with associated switching posts" as part of an upgrade to the electric traction system in the Gomoh-Patratu section of the Dhanbad division.
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IEX | The company reported a 15.7% year-on-year increase in electricity trading volumes, reaching 9,689 million units (MU) in November 2024. Despite higher demand, the day-ahead market (DAM) and real-time market (RTM) recorded lower market clearing prices (MCP) due to high liquidity on the supply side. DAM prices dropped 17.3% year-on-year (YoY) to ₹3.30/unit, while RTM prices declined 13.4% YoY to ₹3.46/unit — the lowest monthly prices in the current fiscal year.
