Stocks to watch today: The Indian stock market broke its three-day losing streak on Thursday, December 11, after the US Federal Reserve cut interest rates by 25 points. During this period, both Sensex and Nifty registered gains. Sensex rose 427 points to 84,818.13 (up 0.51 percent), while Nifty 50 jumped 141 points to trade at 25,898.55 (up 0.55 percent). Some stocks are going to be in focus during trading today. Let us know why it will be important to keep an eye on these stocks today?

Tata Power

Tata Power stock needs to be closely monitored today as the company has received a letter from REC Ltd for the acquisition of Jejuri Hinjewadi Power Transmission. The company informed that Jejuri Hinjewadi Power Transmission Limited will be developed on build-own-operate-transfer basis to provide transmission services for 35 years. In this project, about 115 km 400 KV double-circuit line will have to be built between Jejuri and Hinjewadi. Besides, 400 KV GIS line bays will also have to be expanded at substations at both the locations.

Infosys

Infosys has completed its share buyback and also announced the sale of 10 crore equity shares through tender offer. In this, Infosys co-founder S.D. His son Shreyas Shibulal also sold 19.92 lakh shares (0.05 per cent stake) in Infosys for Rs 317 crore on December 10-11, reducing his stake in the company to 0.44 per cent. S.D. Bhairavi’s daughter-in-law Madhusudan Shibulal also sold 5.42 lakh shares (0.01 percent stake) for Rs 86.21 crore on December 10, due to which her stake has also reduced to 0.12 percent.

Adani Power

Adani Power is exploring new opportunities for thermal and hydro power projects in South Asian countries. Recently the company has entered into an agreement with Druk Green Power (DGPC) of the Government of Bhutan under a 50:50 joint venture to increase hydro capacity of 500 MW in Bhutan. On Thursday, Adani Power shares closed at Rs 140.85.

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Infosys: Infosys, the country’s largest IT company, has won 75 percent stake in the Australian IT company Versent Group. The deal took place at 233.25 million Australian dollars (about 1300 crores). Till now the versant was owned by Australia’s Telstra Group, but now it will be operational at the hands of Infosys. Whereas the parent’s parent company Telstra will now have only 25 percent stake in it.

Why is this deal necessary?

The deal is a joint venture between Infosys and Telstra to promote AI-competent cloud and digital solutions for its Australian business. Infosys Chief Executive Officer (CEO) Salil Parekh said, “We are excited to bring Infosys Topaz to enable transformative AI-First Capability, which will work as a complementary of Versent Group’s Cloud-Founded Digital Foundation.”

The Versent Group mainly provides large -scale cloud services in government and education, financial institutions, energy and utility sectors. The company is known for designing and implementing cloud strategy for digital transformation with its liding trading partners.

Both companies are doing work with 2024

The company has a complete team of 650 engineers, advisors and strategists in Australia. The purpose of acquiring the Versent Group of Infosys is to strengthen its presence in Australia. Infosys has been working closely with its parent company Telstra since 2024 to speed up its software engineering and IT transformation.

Infosys shares boom

Infosys has bought a 75 percent stake of the Versent Group, after the news came, Infosys shares in the US stock market got a 1.6 % jump. With this, the share price reached $ 16.33. At the same time, Infosys shares also saw a rise in the Indian stock market on Wednesday. The shares closed at Rs 1426.40 with a gain of 0.16 percent.

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