Stock to Watch Today - Rupeedesk Reports - 13.06.2023
Buzzing Stocks: HFCL, Inox Wind, JSW Steel, Engineers India, Tejas Networks & others in the news.
HFCL: The digital network solutions provider has bagged an order worth Rs 80.92 crore from Delhi Metro Rail Corporation (DMRC). The company will set up fibre optics transmission system (FOTS) for three priority corridors of Phase IV of Delhi Metro Rail Project. The order is expected to be executed within 156 weeks from the date of notice to proceed. Thereafter, the company has to provide warranty support for 104 weeks.
Greaves Cotton: Greaves Electric Mobility, the e-mobility business of Greaves Cotton, has entered into an agreement with Bike Bazaar Finance. Under the agreement, Bike Bazaar Finance will finance Greaves Electric Mobility's ELE-branded L3 electric vehicles. This partnership will initially take effect in UP and Bihar, with plans to expand nationwide in the near future.
Hero MotoCorp: The world’s largest manufacturer of motorcycles and scooters has launched the new Passion+. The new Passion+ is available at dealerships across the country at a price of Rs 76,301 (ex-showroom) in Delhi.
Inox Wind: The wind energy solutions provider said its board members have approved merger of Inox Wind Energy into the company. The merger is subject to various regulatory approvals and compliances. The appointed date for the amalgamation is set as July 1, 2023. As per the proposed amalgamation, Inox Wind will issue its 158 equity shares for every 10 equity shares to shareholders of Inox Wind Energy, and also issue 158 share warrants with an issue price of Rs 54 each, to shareholders of Inox Wind Energy, for every 10 share warrants with an issue price of Rs 847 each held by them.
Ramkrishna Forgings: The forging firm has incorporated a new company Ramkrishna Titagarh Rail Wheels on June 9, alongwith Titagarh Rail Systems (formerly known as Titagarh Wagons). Ramkrishna Titagarh Rail Wheels will manufacture forged wheels under long term agreement under Aatma Nirbhar Bharat. Ramkrishna Forgings and Titagarh Rail Systems will hold equal stake in Ramkrishna Titagarh Rail Wheels.
JSW Steel: The company is declared as a preferred bidder, by the Directorate of Mines and Geology, Goa, for grant of mining lease for iron ore mineral in two blocks in Goa. Two blocks are VI- Cudnem-Cormolem Mineral Block, and IX-Surla-Sonshi Mineral Block in North Goa, with projected iron ore resources of 9.77 MMT and 65.73 MMT respectively.
Adani Ports and Special Economic Zone: The Adani Group company has suspended its vessel operations at Mundra & Tuna Port. The suspension of vessel operations is being done in view of an advisory issued by India Metrological Department on expected cyclone storm 'Biparjoy'.
Engineers India: Oil and Natural Gas Corporation (ONGC) has awarded the project for replacement of CSU off-gas compressors and regeneration gas compressors, installation of CBD vessel at Uran Plant under EPC reimbursable basis to Engineers India. The total estimated order value is about Rs 472 crore with a project completion schedule of about 40 months.
Punjab & Sind Bank: The bank has received board approval for raising of capital up to Rs 750 crore through issuance of Basel-III compliant additional Tier-1 bonds or Tier-II Bonds in one or more tranches within a period of 12 months.
Tejas Networks: The wireline and wireless networking products maker has deployed its TJ1400 family of carrier-class Fiber-to-the-x (FTTx) and packet switching network (PTN) solutions to deliver high-speed fiber connectivity services to businesses across the country for Tata Tele Business Services (TTBS).
UCO Bank: The public sector lender has increased overnight, one-month and one-year lending rates by 5 bps each to 7.90% from 7.85%, to 8.10% from 8.05%, and to 8.65% from 8.60%, but kept 3-month & 6-month lending rates unchanged at 8.25% & 8.50%, respectively.
Go Fashion India: ICICI Prudential Life Insurance Company, BNP Paribas Arbitrage, Kuwait Investment Authority Fund 223, and Societe Generale have bought total 24.44 lakh equity shares or 4.52% stake in the women's apparel manufacturer via open market transactions at an average price of Rs 1,135 per share. However, Sequoia Capital India Investments IV was the seller and exited the company, offloading 54.98 lakh shares or 10.18% stake in the company at an average price of Rs 1,136.1 per share.
Balrampur Chini Mills: Europe-based financial services group Societe Generale has picked half a percent stake in the sugar manufacturing company via open market transaction. The group has bought 10.87 lakh shares in the company at an average price of Rs 406.02 per share.
Man Infraconstruction: Societe Generale has also bought 39.31 lakh shares or 1.06% stake in the construction company via open market transaction. These shares were bought at an average price of Rs 102 per share.
Usha Martin: Motilal Oswal Mutual Fund (MOSTF30) has bought 18.5 lakh shares in the wire rope manufacturer via open market transaction at an average price of Rs 270.12 per share, which amounted to Rs 50 crore.
Jyoti Structures: Follis Advisory LLP has sold 1.33 crore shares in the construction company via open market transactions at an average price of Rs 8.79 per share, and another 1.41 crore shares at an average price of Rs 8.76 per share, which is equivalent to 4.32%, out of 11.82% shareholding as of March 2023.
Satin Creditcare Network: The Board of Directors of the company will meet on June 15 to consider the fund raising via issuance of listed/unlisted, secured/unsecured, non-convertible debentures on private placement basis.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
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