“The prevailing trend points to continued consolidation around key levels, with the next support placed near the recent swing low of 25,700. A decisive break below this level could intensify selling pressure toward 25,450, while immediate resistance is seen in the 25,950–26,050 zone,” said Ajit Mishra – SVP, Research, Religare Broking.
In today’s trade, shares of Ola Electric, Vedanta, Akzo Nobel, Jio Financial, NTPC among others will be in focus due to various news developments.
Akzo Nobel
Goldman Sachs on Wednesday bought shares worth Rs 106 crore in Akzo Nobel India via a bulk deal as the promoter Imperial Chemical Industries offloaded nearly 41 lakh shares valued at Rs 1,296 crore. Goldman Sachs purchased close to 3.36 lakh shares in the company via its affiliate Goldman Sachs Funds-Goldman Sachs India Equity Portfolio at a price of Rs 3,150 apiece which was at a 13% discount over Tuesday’s closing price of Rs 3,624 per share.
Vedanta
Oil-to-metals conglomerate Vedanta’s proposed demerger is targeted for completion by March 2026 and will result in five independently listed, pure-play companies, each capable of growing to the scale of the current parent, its chairman Anil Agarwal said on Wednesday.
L&T
Engineering conglomerate Larsen & Toubro on Wednesday said it has bagged multi-crore projects, including the development of a museum at Omkareshwar in Madhya Pradesh. The company, in an exchange filing, said its buildings & factories business vertical has recently won multiple orders (large) in India. The company categorises orders worth Rs 2,500-5,000 crore as large.ACME Solar
ACME Solar has completed commissioning of 52 MW capacity of the 100 MW wind power project at Surendranagar in Gujarat. The project is being commissioned in a phased manner through subsidiary ACME Eco Clean Energy. In the latest phase, a 8 MW capacity was commissioned, a statement said.
Ola Electric
Ola Electric founder and promoter Bhavish Aggarwal has sold another 4.2 crore shares of the company through open market transactions on Wednesday, extending a series of stake sales that have unsettled investors and pushed the stock to fresh lows. The latest transaction, executed today, involved shares worth Rs 142 crore. This comes a day after Aggarwal sold more than 2.6 crore shares in a bulk deal at Rs 34.99 apiece, a transaction valued at around Rs 92 crore.
Jio Financial
Jio Financial informed the exchanges that the Board, on the recommendation of the Nomination and Remuneration Committee approved the appointment of Venkata Peri as Group Chief Operating Officer forming part of the Senior Management Personnel effective December 22.
NTPC
NTPC on Wednesday announced commissioning of commercial operations of 243.66 MW capacity of 1,255-MW solar project at Khavda in Gujarat. The power major also announced the start of commercial operations of 78 MW of the 735 MW (3×235 MW) Nokh Solar PV Project in Rajasthan, effective Thursday.