Stock to Watch Today - Rupeedesk Reports - 11.09.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Vakrangee, Adani Enterprises, SJVN, VRL Logistics, others in news today.
Rishabh Instruments: The test and measuring instruments maker will debut on the BSE and NSE on September 11. The final issue price has been fixed at Rs 441 per share.
Ratnaveer Precision Engineering: The stainless steel-based products manufacturer is going to list shares on the bourses on September 11. The listing date was advanced from September 14 as per IPO schedule. The final issue price is set at Rs 98 per share.
Vakrangee: The technology company has entered into a binding term sheet with private equity investor Aaviskaar Capital to acquire 48.5% equity stake in Vortex Engineering. Vortex is one of the leading providers of automated teller machines (ATMs), and so far has shipped 10,000+ ATMs across India, Africa and South Asia and Software products to complement ATM hardware. This acquisition will help Vakrangee achieve backward integration.
Adani Enterprises: Adani Global Pte Ltd, Singapore, a step down wholly owned subsidiary of the company has signed joint venture agreement with Kowa Holdings Asia Pte Ltd, Singapore. They signed agreement for the sales and marketing of green ammonia, green hydrogen and its derivatives produced and supplied by Adani Group, in the agreed territory. Meanwhile, promoters Kempas Trade and Investment, Infinite Trade and Investment, and PACs (persons acting in concert) has bought additional 2.06% stake in the company during August 21 to September 7. As a result, shareholderin of promoters rose to 71.93%, from 69.87% earlier.
Adani Ports and Special Economic Zone: Promoters Resurgent Trade and Investment, Emerging Market Investment DMCC, and PACs (persons acting in concert) have acquired additional 2.17% stake in the company during August 14 to September 8. As a result, promoters' shareholding in the company increased to 65.23%, from 63.06% earlier.
SJVN: Subsidiary SJVN Green Energy has signed power purchase agreement with Bhakra Beas Management Board for 18 MW Solar power project. The project will be developed on the land parcels of BBMB in Himachal Pradesh & Punjab. The project is scheduled to be commissioned by August 2024.
PVR Inox: The multiplex chain has announced the opening of 4 screen multiplex at Smart City Mall at Dharwad, Karnataka. With this launch, company now operates the largest multiplex network with 1,708 screens across 361 properties in 115 cities (India and Sri Lanka).
Schaeffler India: The high-precision components and systems maker has acquired 100% shareholding of KRSV Innovative Auto Solutions. The closure of acquisition transaction has been completed on September 8.
UCO Bank: The public sector lender has raised lending rates by 5 bps across tenures. The bank has revised the marginal cost of fund-based lending rates with effect from September 10. Other benchmark rates - repo linked rate, base rate and BPLR remain unchanged.
Godrej Properties: Anubhav Gupta has resigned as Chief Executive Officer - Vikhroli and Chief ESG and Sustainability Officer, with effect from September 9, to pursue opportunities outside Godrej Properties.
IRB Infrastructure Developers: The Mumbai-based highway developer has reported toll revenue of Rs 417 crore for August 2023, rising 24% against Rs 336 crore in same month last year. Its wholly owned subsidiaries, which manage Mumbai Pune project and Ahmedabad Vadodara project, reported aggregate toll revenue of Rs 198 crore, up 20% during the same period, while the joint ventures entities under IRB Infrastructure Trust, Private InvIT clocked toll revenue of Rs 219 crore in August 2023, up 28% YoY.
Gateway Distriparks: Sandeep Kumar Shaw has resigned as Chief Financial Officer and key managerial personnel of the company, due to personal reasons. Shaw resigned with effect from November 28.
Coffee Day Enterprises: IDBI Trusteeship Services has filed application against Coffee Day, before the National Company Law Tribunal, Bengaluru, under Section 7 of the Insolvency and Bankruptcy Code, for alleged default of Rs 228.45 crore. The company is seeking appropriate legal advice and will take all appropriate steps to protect its interest in the said matter.
Anlon Technology Solutions: The engineering services provider said the board members have appointed Emmyunual Setti Balija as a Chief Financial Officer and key managerial personnel of the company with effect from September 8. Beena Unnikrishnan resigned from the post of Chief Financial Officer of the company due to personal reasons.
Basilic Fly Studio: The Chennai-headquartered visual effects studio will list its shares on the NSE Emerge on September 11. The listing date has been preponed from September 13 earlier. The issue price has been fixed at Rs 97 per share and the stock will trade in the trade-for-trade segment.
VRL Logistics: SBI Mutual Fund has bought 19.29 lakh equity shares, equivalent to 2.2% of paid-up equity through open market transactions. These shares were bought at an average price of Rs 681 per share and were worth Rs 131.36 crore. However, promoter Anand Vijay Sankeshwar sold 35 lakh shares or 4% stake at an average price of Rs 681.08 per share.
Jyoti Structures: Investor Follis Advisory LLP has offloaded 1.1 crore equity shares in the turnkey solutions provider via open market transactions, at an average price of Rs 11.05 per share, and 37.23 lakh shares at an average price of Rs 10.97 per share. These shares are equivalent to 2.3% of total paid-up equity and were worth Rs 16.25 crore. However, Venkatkrishna Mohan Prabhala was the buyer for some shares, purchasing 35 lakh shares in Jyoti Structures at an average price of Rs 10.89 per share.
Sportking India: The textile company has reported fire incident in building premises at corporate/registered office. The fire was controlled within time and there were no human injuries or casualties reported, but some of company's records have been affected due to this fire incident.
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