Stock to Watch Today - Rupeedesk Reports - 21.12.2022
Buzzing Stocks | Dabur, GAIL India, Bharti Airtel and others in news today.
Dabur India: The company said Gyan Enterprises, and Chowdry Associates, part of Barman family, have sold approximately 1% shares in Dabur through a block deal completed on December 20. The objective of this transaction is to raise funds for financing some ventures in private hands of the Burman family.
GAIL India: The company has raised Rs 1,575 crore from the issuance of 15,750, 7.34% non-convertible debentures (Series-I) of Rs 10 lakh on private placement basis.
Bharti Airtel: The company has entered into an agreement for acquisition of 8% stake in a technology startup, Lemnisk (Immensitas Private Limited). The acquisition is under Airtel's Start Up Accelerator Program. Lemnisk is a Bengaluru based start up that offers real-time marketing automation and secure customer data platform (CDP).
Shyam Metalics and Energy: The company has acquired Mittal Corp to foray into the stainless steel or wire rod and bar mill business. This inorganic growth will witness establishment of manufacturing footprints in Madhya Pradesh and add capacities of 1.5 lakh tonne per annum stainless steel / wire rod and bar mill.
Rajapalayam Mills: The company has received board approval for issue of 6.1 lakh shares at Rs 569 per share to existing equity shareholders on a rights basis. The fund raising would be Rs 34.97 crore via rights issue. The record date for determining names of shareholders of the company eligible to apply for the equity shares in the rights issue has been fixed at December 30. The rights entitlement ratio is one rights equity share for every 14 shares held by equity shareholders.
Mindspace Business Parks REIT: The company has completed issuance of commercial papers of Rs 100 crore. CRISIL has rated these commercial papers as 'A1+'. The funds will be utilized towards the working capital requirements of Mindspace REIT's asset SPVs.
Uno Minda: The company has entered into a technical licence agreement with Ascentec, Korea to strengthen its advance automotive sensors product portfolio. Asentec, a subsidiary of Sejong Industrial, specialises in mobility parts centered on sensors and actuators with manufacturing facilities in Korea, Vietnam and China.
Jubilant Ingrevia: The company has raised Rs 150 crore via issuance of commercial papers. The date of maturity is February 2023, with coupon rate of 7.05% per annum.
City Union Bank: The private sector lender has announced divergence in NPAs to the tune of Rs 259 crore consisted of 13 borrower accounts (with outstanding balance more than Rs 1 crore) for an amount of Rs 230 crore and 218 borrowers (outstanding balance less than Rs 1 crore) for an amount of Rs 29 crore for the year ended March 2022. Also there was divergence in provisioning to the tune of Rs 40 crore for the same period. The divergence is difference between NPAs reported by the bank and assessed by the RBI.
VIP Clothing: The company has recently sold its Umbergaon factory and raised Rs 10.41 crore. The capital gained by selling this asset will now be utilized in business at different level from production, technology, innovation and marketing.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
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