Shares of Nava Ltd are expected to be in focus on Monday after the ferro-alloy manufacturer received shareholder approval for a stock split, which will reduce the face value of each equity share from Rs 2 to Rs 1. The approval was obtained through a postal ballot process that concluded on December 21, as per an exchange filing.
Vedanta shares fell 2.6% as they traded ex-dividend on December 24. The company announced an Rs 8.5 per share interim dividend for FY25, bringing the total payout to Rs 16,798 crore. Vedanta reported a Rs 5,603 crore profit for Q3 FY24 despite a 4% decline in revenue.
BEL Share Price: Bharat Electronics Ltd (BEL) shares increased by 1% after securing new orders worth Rs 973 crore since December 9. This brings BELs total order accumulation for FY25 to Rs 9,801 crore. The state-run firm enjoys a solid order book and is on track to meet its full-year order inflow guidance of Rs 25,000 crore.
In the Nifty200 pack, five stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on December 23, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Stocks to buy today: Stocks that were in focus include names like SAIL, which rose 4% and Aurobindo Pharma, which gained 1% and HPCL, whose shares declined nearly 1% on Monday.
Shares swung between gains and losses in Japan and edged lower in Australia, with shortened sessions in Hong Kong and Sydney for Christmas Eve. US equity futures were little changed in Asia after a gauge of the Magnificent Seven technology megacaps rose 1.4% Monday, offsetting weaker-than-expected US consumer confidence data.
Coforge and Cigniti Technologies are progressing towards a merger, with EY and Axis Capital preparing terms for shareholder approval. Coforge plans to absorb Cigniti, with shareholders receiving Coforge shares based on a determined swap ratio. Coforge's market value has doubled recently, and the acquisition aims to leverage synergy in client locations.
The conglomerate recently gave Kotak Investment Banking officials the go-ahead to commence the process after a meeting, they said. It plans to appoint additional bankers by January, they added.
The stock listed on the NSE surged 150% in 2024 so far as against the 23.6% advance in the Nifty Midcap 100. In the past three years, it has spiralled 680%.
