Stocks in Focus: Ola Electric, Vedanta, Coal India, IOB, Lodha Developers

The markets closed lower on this week's expiry day, influenced by weak global and domestic signals. Analysts suggest the Nifty may consolidate. The continued weakening of the currency could expand the trading range, potentially pushing the index below 25,700.

Ajit Mishra from Religare Broking advises a stock-specific trading strategy, favoring hedged positions due to the current volatile and choppy market conditions. He notes that the 26,000–26,100 zone remains a key resistance area.

Several companies are in the spotlight due to recent developments:

• Ola Electric:** Promoter Bhavish Aggarwal sold over 2.6 crore shares of Ola Electric Mobility in a bulk deal at Rs 34.99 per share, totaling approximately Rs 92 crore. Ola Electric stated that Aggarwal sold a portion of his personal shareholding to release all promoter-level share pledges.
• Vedanta:** The National Company Law Tribunal (NCLT) has approved Vedanta's plan to split the conglomerate into separate listed entities. The demerger into five entities faced government resistance over concerns about recovering dues from the company.
• Coal India:** The government auditor CAG criticized Coal India Ltd for delays in developing its 3,000 MW solar power projects. By December 2024, the company and its subsidiaries had installed only 122.492 MW of solar capacity, a mere 4.08% of the target.
• Inox Wind:** Inox Wind announced a repeat order from Jakson Green for 100 MW. The order involves supplying IWL's 3.3 MW turbines for projects in Gujarat. IWL will also provide limited EPC services and multi-year O&M services after commissioning.
• Tata Power:** Tata Power aims to finalize its 10 GW wafer and ingot project, estimated to cost Rs 6,500 crore, by January next year. The company is in discussions with various states to decide on the project location, according to CEO Praveer Sinha.
• Lodha Developers:** Lodha Developers Limited (LDL) has partnered with Gurugram-based MRG group for two projects in Delhi-NCR, one on Sohna Road and another expected on Golf Course Road. Amandeep Singh was recently appointed as Regional CEO for Delhi-NCR.
• NBCC:** NBCC has secured a project management consultancy service contract for planning, design, and development work at IIT Mandi, including academic blocks, housing, a student activity center, and a sports complex.
• Indian Overseas Bank (IOB):** The government will divest up to 3% of its stake in Indian Overseas Bank (IOB) through an offer for sale (OFS) starting Wednesday, December 17. Initially, up to a 2% stake, or 38,51,31,796 equity shares, will be offered through the non-retail window.