Reliance Industries, Sun Pharma, PCBL, SAIL, PC Jeweller and more: Top stocks to watch out for on November 29
SUMMARY
stocks to watch, Reliance Industries, Sun Pharma, PCBL, top stocks, PC Jeweller, HDFC Life, SAIL and more, these are the stocks to watch for today.
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Reliance Industries | Mukesh Ambani-promoted company said its step-down subsidiary, Reliance Finance, and Investments USA LLC (RFIUL), has acquired a 21% stake in Wavetech Helium, Inc (WHI) for $12 million. The transaction, finalised on November 27, 2024, is part of RIL’s broader strategy to grow its exploration and production business focused on low-carbon solutions. Founded on July 2, 2021, and commencing operations in 2024, WHI is a US-based helium gas exploration and production company.
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Sun Pharma | The company said the Ministry of Corporate Affairs has levied penalties on certain past and present directors and officials, including CMD Dilip Shanghvi, for non-disclosure and not obtaining approval of its board and shareholders for certain related party transactions. The company has received an order from the Regional Director, North Western Region, Ministry of Corporate Affairs, for alleged violations of certain provisions of the Companies Act, 2013.
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PCBL | Carbon black major said the second and final phase of its specialty chemical capacity expansion at the Mundra plant in Gujarat has been successfully commissioned. This expansion adds 20,000 MTPA to the company’s existing capacity, bringing the total specialty chemical capacity at Mundra to 40,000 MTPA. “With this milestone achievement, our company’s combined manufacturing capacity now stands at 7,90,000 MTPA,” the company informed bourses.
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PC Jeweller | Jewellery retailer announced that December 16, 2024, will be the Record Date for the sub-division of its equity shares. As per the resolution passed by the company’s Board of Directors on November 28, 2024, each equity share with a face value of ₹10 will be split into 10 equity shares with a face value of ₹1.
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SAIL | State-owned company said it has entered into a partnership with the Indian arm of John Cockerill Group for using green technologies in iron and steelmaking processes. The development assumes significance as the maharatna firm remains committed to transforming traditional iron and steelmaking practices by adopting advanced, sustainable technologies, the company said in a statement. The Memorandum of Understanding (MoU) was signed by SAIL with John Cockerill India Ltd (JCIL), it said.
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HDFC Life | The company dismissed media reports suggesting potential changes to bancassurance regulations by the Insurance Regulatory and Development Authority of India (IRDAI), describing them as “rumours and speculation.” HDFC Life reiterated that significant regulatory changes are typically preceded by detailed consultations with industry stakeholders. The company also expressed confidence in its ability to adapt to a dynamic business environment through its well-diversified distribution network, which it credits with supporting efforts to boost insurance penetration across the country.
