Stocks To Watch: Vedanta, RITES, Adani Green Energy

Edited by Peter Noronha

31 Dec 2020, 08:37 AM IST

Adani Green Energy commissioned a 100 megawatt (MW) solar power project at Khirsara in Gujarat.

The domestic stock markets are likely to open on a subdued note, going by early indications from trading in SGX Nifty futures. Trends on SGX Nifty indicate a flat opening for the index in India, with an 11-point gain. At 7:30 am, the Nifty futures were trading at 13,993, higher by 11 points on the Singapore Stock Exchange.

Here Are Some Stocks To Watch In Trade Today (December 31)

Vedanta

Vedanta shares may attract some buying after the company emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha at a distance of about 190 km from the company's Jharsuguda aluminium smelter. The mine has total reserves of 312 million tonnes and an approved per annum extraction capacity of 6 million tonnes.

RITES

RITES shares could witness some activity after the miniratna public sector enterprise declared an interim dividend of Rs 5 per share on face value of Rs 10 each. The dividend amounts to Rs 120.15 crore (at the rate of 50 per cent of paid-up capital).

Adani Green Energy

Adani Green Energy shares are likely to be in the limelight after the company commissioned a 100 megawatt (MW) solar power project at Khirsara in Gujarat. This takes Adani Green Energy's total operational renewable capacity to 2,950 MWac; a step closer to its vision of 25 GW capacity by 2025.

Union Bank

Union Bank shares may be on investor's radar after the bank's shareholders, at an extraordinary general meeting (EGM), approved the proposal to raise equity capital up to Rs 6,800 crore to fund its business growth.