Stocks to Watch: Adani Group, Hero MotoCorp, Coal India, LIC, DMart, Hind Zinc
Adani Group stocks: The Supreme Court will pronounce judgement on a batch of petitions seeking court-monitored investigation into the allegations made by made by US-based firm Hindenburg Research against the Adani group of companies regarding stock market violations. Last January, Hindenburg had accused the conglomerate of “brazen stock manipulation and accounting fraud", allegations that the Adani group has vehemently denied. Hero MotoCorp: Sold 3,93,952 units of motorcycles and scooters in December, down 0.05% from 3,94,179 units dispatched in the year-ago period.
Domestic sales fell 0.92% on year to 3,77,842 units but exports rose 25.7% to 16,110 units during the period under review. Life Insurance Corp of India: Tax authorities have issued a demand notice of about ₹116 crore on the company for short payment of GST for 2017-18. LIC has received a communication/demand order for interest and penalty for Telangana on 2 January.
On Monday, LIC had received a notice demanding about ₹806 crore for short payment of GST for 2017-18 along with interest and penalty for Maharashtra. Coal India: The miner's cumulative coal dispatch so far this fiscal year has jumped 11.36% to 709.80mt. The state-run company’s supplies to non-regulated sectors including cement and steel manufacturers in the current financial year touched 98mt as of December, up 31% from the year-ago period.
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