Stock to Watch Today - Rupeedesk Reports - 11.12.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Zomato, Adani Energy, Tata Motors, Apollo Tyres, GMR Airports, others in news.
Zomato: SVF Growth (Singapore) Pte Ltd, a venture capital fund owned by Japan's Softbank, has exited the food delivery giant by selling the remaining 9.35 crore equity shares through open market transactions. These shares were sold at an average price of Rs 120.5 each, amounting to Rs 1,127.5 crore. On October 20 of this year, it had sold 9.35 crore shares at an average price of Rs 111.2 per share.
Adani Energy Solutions: Bimal Dayal, the CEO of the transmission business of Adani Energy Solutions, has been appointed as Chief Executive Officer (CEO) of Adani Infrastructure India. Bimal Dayal will oversee the implementation of the enormous pipeline of infrastructure projects in thermal, renewable energy, and green hydrogen.
Tata Motors: The country's largest commercial vehicle manufacturer, said it would increase the price of its commercial vehicles effective January 2024, up to 3 percent. The price increase is to offset the residual impact of past input costs and will be applicable across the entire range of commercial vehicles.
Mahindra Logistics: Goldman Sachs Funds, via Goldman Sachs India Equity Portfolio, sold 5.92 lakh shares, or 0.8 percent, in the logistics company via an open market transaction at an average price of Rs 376.19 per share.
GMR Airports Infrastructure: The Airports Economic Regulatory Authority (AERA) has revised the present ad-hoc aeronautical charges for the Manohar International Airport, Goa, for each financial year starting January 1, 2024. Aeronautical charges include UDF (user development fee), landing charge, parking charge, etc. The hike in user development fees will be applicable from January 1, 2024, to March 31, 2028. Meanwhile, the GQG Partners Emerging Markets Equity Fund and Goldman Sachs Trust II via the Goldman Sachs GQG Partners International Opportunities Fund have bought 28.29 crore equity shares, or 4.7 percent stakes, in GMR Airports via open market transactions. They bought shares at an average price of Rs 59.09 per share, amounting to Rs 1.671.55 crore. Nomura India Investment Fund Mother Fund also purchased 6.25 crore equity shares, or a 1 percent stake in GMR, and Stichting Depositary APG Emerging Markets Equity Pool picked 3.4 crore shares, or a 0.56 percent stake in GMR, at an average price of Rs 58.20 per share. However, foreign portfolio investors A/D Investors Fund LP, ASN Investments, and Varanium India Opportunity exited GMR by selling their entire personal shareholding of 7.56 crore shares at an average price of Rs 58.20 per share, 43.9 crore shares at an average price of Rs 58.21 per share, and 13.9 crore shares at an average price of Rs 58.47 per share, respectively. Deccan Value Investors Fund LP offloaded 5.6 crore shares, or 0.93 percent, in GMR at an average price of Rs 58.20 per share.
Blue Dart Express: The logistics company said the board of directors has approved the purchase of two leased aircraft by Blue Dart Aviation, a wholly owned subsidiary of the company, from DHL Aviation (Netherlands) B.V., a fellow subsidiary company, for Rs 40 crore. These two aircraft are currently operated on a lease basis by Blue Dart Aviation.
Wipro: Stephanie Trautman has resigned as Chief Growth Officer of the IT services company. Trautman will be relieved from the services of the company with effect from January 31, 2024.
TVS Motor Company: The two-and-three-wheeler company announced a collaboration between TVS Racing, India's first factory racing team, and Alpinestars, a renowned brand of riding apparel and gear. The association between them aims to enhance the overall riding experience for customers.
SpiceJet: The low-cost airline company said the meeting of the board of directors will be held on December 11 to consider the unaudited standalone and consolidated financial results for the second quarter ended September 2023 and also options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis.
Apollo Tyres: The Supreme Court has dismissed the appeal filed by Sebi and upheld the SAT order setting aside SEBI’s penalty against the company. The Securities Appellate Tribunal (SAT) issued an order in September this year, quashing Sebi's order dated November 22, 2018 in its entirety and directing SEBI to refund the entire penalty amount of Rs 65 lakh imposed for alleged violation of certain provisions of the Buy Back Regulations, 1998, to Apollo Tyres within 4 weeks from the date of its order.
Shoppers Stop: Shoppers Stop has entered into a collaboration with The Good Glamm Group for the launch of MyGlamm POUT, a makeup collection. The MyGlamm POUT will exclusively be available across all Shoppers Stop retail outlets. Further, the two entities are in discussions to extend the collaboration across various facets of both entities' businesses.
The Indian Renewable Energy Development Agency: IREDA launched its retail division. This strategic initiative is geared towards enhancing emphasis on providing loans to borrowers in the PM-KUSUM scheme, rooftop solar, and other business-to-consumer (B2C) sectors.
Cipla: Subsidiary InvaGen Pharmaceuticals Inc., USA, is voluntarily recalling one lot of Vigabatrin for oral solution, USP 500mg, to the consumer level. Vigabatrin for oral solution, USP 500 mg, has been found to have seal integrity issues, allowing for powder leakage from the pouch. The product is used for the treatment of refractory complex partial seizures as adjunctive therapy in patients 2 years of age and older who have responded adequately to several alternative treatments.
Torrent Power: The Amendment Agreement to the Share Subscription and Shareholders’ Agreement (SSSA) has been signed amongst Torrent Power, its subsidiary Torrent Saurya Urja 3 (TSU3PL), and Automotive Axles. They signed an agreement to transfer an additional quantum of 4 MWp of solar power electricity generated from the project of TSU3PL to the production unit of Automotive Axles in Mysore, Karnataka, by Automotive Axles. Torrent Power will hold a 74 percent stake in TSU3PL and Automotive Axles will hold 26 percent of the shares.
Spandana Sphoorty Financial: The microfinance company said a meeting of the management committee of the board of directors is scheduled to be held on December 13 to consider the issue and offer of non-convertible debentures on a private placement basis.
Bank of India: The public sector lender has announced the closure of its QIP (qualified institutions placement) and raised Rs 4,500 crore at an issue price of Rs 100.2 per share, which is a 4.95 percent discount to the floor price of Rs 105.42 per share. The bank received 104 bids aggregating to Rs 18,483.30 crore for the QIP issue, which was opened on December 5.
Five-Star Business Finance: Foreign promoter Matrix Partners India Investment Holdings II LLC sold 46,84,111 equity shares in the non-banking finance company at an average price of Rs 730 per share and another 45,29,329 shares at an average price of Rs 730.02 per share. Matrix Partners, in total, sold a 3.16 percent stake in Five-Star, against its shareholding as of September 2023 at 4.75 percent. US-based private equity firm TPG Asia VII SF Pte Ltd sold 44,53,747 shares in Five-Star at an average price of Rs 730.12 per share and 44,53,746 shares at an average price of Rs 730 per share. It sold a total 3.05 percent stake, while its total shareholding in the company, as of September 2023, was 14.29 percent. Peak XV Partners Investments V sold 45,67,945 equity shares, or a 1.56 percent stake in Five-Star, at an average price of Rs 730 per share. Peak XV Partners, formerly Sequoia Capital India & SEA, is a leading venture capital and growth investing firm.
Religare Enterprises: The company has completed the acquisition of a 100 percent equity stake in MIC Insurance Web Aggregator from IGEAR Holdings of the Indian Express Group. Accordingly, MIC has become a wholly-owned subsidiary of the company. MIC Insurance Web Aggregator is an IRDAI-registered insurance web aggregator.
DCB Bank: R. Venkattesh has resigned as Head of Operations, Technology, and Human Resources and CIO of the bank to pursue his other interests and explore other opportunities. His last working day with the bank would be February 7, 2024.
PSP Projects: The company has emerged as the lowest (L1) bidder in the project, a construction and maintenance agency (CMA) for the human and biological science gallery in Ahmedabad, Gujarat, worth Rs 296.85 crore. With this, the total value of projects for which it stood as the lowest bidder amounts to Rs 1,063.86 crore for the financial year 2023–24, which is in addition to the work orders received till date amounting to Rs 1,060.30 crore for FY24.
Greenlam Industries: Subsidiary Greenlam South has acquired 86 acres of land in Uttar Pradesh for Rs 24 crore, which will be used for future expansion.
Fedbank Financial Services: The stock price will be in focus as the Board of Directors of the company will be meeting on December 11 to consider unaudited financial results for the quarter and half year ended September 2023.
Lloyds Metals and Energy: The company has received approval from the board of directors and has approved an expansion of iron ore mining capacity up to 55 million metric tonnes per year and the establishment of a 45 million metric tonnes per year banded hematite quartzite (BHQ) beneficiation plant at Gadchiroli district. The board also approved the establishment of a 3 million-tonne integrated steel plant in Gadchiroli district.
Linde India: The Asia Index has decided to replace Linde India with Gujarat Gas in the S&P BSE Oil & Gas index with effect from December 18.
Pricol: Goldman Sachs India has bought 28.94 lakh equity shares, equivalent to a 2.37 percent stake, in the automotive components manufacturing company via open market transactions at an average price of Rs 333 per share, which amounted to Rs 96.39 crore. However, PHI Capital Solutions LLP sold 30.03 lakh shares in Pricol at an average price of Rs 333.16 per share, amounting to Rs 100.05 crore. As of September 2023, PHI held a 5.73 percent stake, or 69.84 lakh shares, in the company.
Subros: The auto air conditioning systems and thermal products manufacturer has bagged a new order from Indian Railways for the supply and commissioning of coach roof-mounted air conditioners amounting to Rs 25 crore.
Jaykay Enterprises: The company has completed the execution of a Memorandum of Understanding (MoU) with Philips Machine Tools India, a subsidiary of Philips Corporation, USA, with the intent to synergistically expand their businesses in India and in global markets. The company is engaged in the business of supplying 3D printing machines and accessories, the 3D printing service bureau, and DfAM, besides the machining and manufacturing of defence and allied products, while Philips Corp. is engaged in the business of advanced manufacturing technology products and services.
Neuland Laboratories: Promoter Ramamohan Rao Davuluri sold 4 lakh shares, equivalent to 3.1 percent of paid-up equity, in the company at an average price of Rs 5,012.45 per share, which amounted to Rs 200.5 crore.
Sheetal Universal: The agricultural commodities supplier is set to debut on the NSE Emerge on December 11. The issue price is Rs 70 per share. Its equity shares will be available for trading in the trade-for-trade segment.
Sandur Manganese & Iron Ores: The Asia Index has decided to include Sandur Manganese & Iron Ores in the S&P BSE Energy Index with effect from December 18.
Rajnish Wellness: The Asia Index has decided to exclude Rajnish Wellness from the S&P BSE Healthcare index with effect from December 18.
Amrapali Fincap: Hasmukh Arvindbhai has resigned as Managing Director of the company with effect from December 8. Hasmukh resigned due to personal and unavoidable circumstances.
Cantabil Retail: Institutional broker BoFA Securities Europe SA has bought 4,67,978 equity shares, equivalent to 2.87 percent of paid-up equity, in the company via open market transactions, at an average price of Rs 263 per share.
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