LIC, JSW Infrastructure, SpiceJet, Thomas Cook (India): Why Are These Stocks In News Today

The share price of stocks that will remain on investors' watchlist on Tuesday includes Life Insurance Corporation (LIC), Thomas Cook (India), JSW Infrastructure, and SpiceJet. On Monday, the share price of Thomas Cook (India) closed almost 5% higher at Rs 154.00 per share on BSE.

LIC shares settled 7.33% higher at Rs 719.25 per share, while the share price of Sajjan Jindal's JSW Infrastructure closed 1.07% lower at Rs 217.55 per share on Friday.

The Indian equity market closed higher on Monday as the two benchmark indices Sensex and Nifty 50 saw the biggest single-day gain since October 4, 2022. On Monday, the BSE Sensex rose 2.05% to 68,865 points, while the Nifty50 climbed 2.07% to 20,687 points.

Here's why shares of LIC, JSW Infrastructure, SpiceJet, and Thomas Cook (India) are in focus today.

LIC: LIC shares have grabbed attention recently in view of the latest product -- Jeevan Utsav- introduced by the country's biggest life insurance company.LIC's latest product - Jeevan Utsav - a non-market-linked, non-participating (that is, guaranteed returns) offering extensive life insurance coverage throughout one's lifetime, has grabbed interest from prospective policyholders and financial advisors. This scheme is accessible for individuals aged between 90 days and 65 years, providing assured lifelong income and lifelong coverage against risks.

JSW Infrastructure: The share price of JSW Infrastructure will remain in the limelight today as the firm's wholly owned subsidiary, JSW Dharmatar Port Pvt., has signed a share purchase agreement to buy over 50% of PNP Maritime Services Pvt. for Rs 270 crore. In an exchange filing on Monday, the company said, "JSW Dharamtar Port Private Limited, a wholly-owned subsidiary of JSW Infrastructure Limited, has signed a Share Purchase Agreement to purchase 50% plus 1 share of PNP Maritime Services Private Limited (PNP Port) held by SP Port Maintenance Private Limited (a Shapoorji Pallonji group company)."

Thomas Cook (India): Thomas Cook Ltd's share price will remain in focus today as the company's promoter Fairbridge Capital (Mauritius) Ltd has completed an offer for the sale of 4 crore equity shares of Thomas Cook (India) Limited. The transaction is valued at Rs 5.58 crore.

On December 4, the company said, "Fairbridge Capital (Mauritius) Limited, the Promoter of Thomas Cook (India) Limited (the "Company"), pursuant to its letter dated December 2, 2023 has informed the Company that it has sold 40,000,000 equity shares of the Company having face value of Rs 1 each (representing 8.50% of the total issued and paid-up equity share capital of the Company) on November 30, 2023 and December 1, 2023.."

With the aforementioned sale of shares, the shareholding of the Promoter in the Company has reduced from 72.34% of the paid up equity share capital of the Company to 63.84% of the paid-up equity share capital of the Company.

SpiceJet: The cash-strapped airline got a big relief on Monday after the National Company Law Tribunal (NCLT) rejected a plea by aircraft lessor Willis Lease Finance Corp. to start insolvency proceedings against the airline. However, apart from Willis Lease Finance, three other lessors-Celestial Aviation, Wilmington Trust, and Aircastle Ltd-have similar pleas pending with NCLT to admit SpiceJet into insolvency over unpaid dues. SpiceJet Shares closed 1.43% lower at Rs 46.28 per share on Monday.