Stock to Watch Today - Rupeedesk Reports - 12.12.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Infosys, Wipro, M&M, SpiceJet, RVNL, Swan Energy and others in news.
Infosys: The country's second-largest IT services company said its board has appointed Jayesh Sanghrajka as the chief financial officer and key managerial personnel of the company with effect from April 1, 2024. Nilanjan Roy has resigned as chief financial officer and key managerial personnel of the company. Roy's last working date with the company would be March 31, 2024.
Wipro: The IT services company said it has supported Marelli Electronic Systems, the mobility technology supplier to the automotive sector, in the development of its Cabin Digital Twin viable product. This product enables original equipment manufacturers (OEMs) to introduce connected vehicle services to the market quickly.
Mahindra & Mahindra: The automobile company has announced total production at 69,875 units in November 2023, growing 13.4 percent over a year-ago period. Total sales grew by 24.6 percent YoY to 68,760 units, but exports fell 41.8 percent to 1,816 units in the same period.
Rail Vikas Nigam: The joint venture of RVNL-URC emerged as the lowest bidder (L1) for part design and construction of an elevated viaduct, five elevated metro rail stations, and a ramp between chainages for the Indore metro rail project. The project is worth Rs. 543 crore. RVNL owns 51 percent of the joint venture, with URC owning the remaining 49 percent.
SpiceJet: The meeting of the board of directors of the company held on December 11 could only partially complete the agenda items, and the meeting has now been adjourned to December 12 to consider earnings for the second quarter ended September 2023 and options for raising fresh capital through the issue of equity shares and/or convertible securities on a preferential basis.
Bharat Petroleum Corporation: The state-run oil marketing company will trade ex-dividend with effect from December 12. The company has announced an interim dividend of Rs. 21 per share.
Swan Energy: Foreign investor 2I Capital PCC sold 14.43 lakh equity shares in the company via an open market transaction. These shares were sold at an average price of Rs 465.85 per share. With this, 2I Capital PCC offloaded more than 80 lakh shares, equivalent to 3.04 percent of paid-up equity in the current quarter, while its total shareholding as of September 2023 was 8.7 percent, or 2.29 crore shares.
Mankind Pharma: The company is likely to see a change of hands up to 7.9 percent equity via a block deal, reports CNBC-TV18, quoting sources. The total block deal size is likely to be around Rs 5,649 crore, including the base size of Rs 4,935 crore. Beige Investment, Link Investment Trust, Cairnhill CIPEF, Cairnhill CGPE, and Hema CIPEF are likely sellers in the block deal.
DLF: Vivek Anand has resigned as Group Chief Financial Officer of the country's largest real estate developer to pursue other career avenues. Vivek Anand will continue in his role until February 29, 2024. Ashok Kumar Tyagi, who has the overall responsibility for all corporate functions, including finance, will now have oversight of the group finance, IT, and secretarial functions. Currently, Tyagi is the managing director of DLF.
Sejal Glass: Chandrakant Vallabhaji Gogri, a part of the promoter group, will be selling 11.15 lakh equity shares of the company via an offer-for-sale issue on December 12–13. The offer will be opened to non-retail investors on December 12, and retail investors can participate in the offer on December 13. The floor price of the offer will be Rs. 225 per equity share.
Dixon Technologies: Padget Electronics, the wholly owned subsidiary of the company, has received a manufacturing contract from Lenovo for the manufacturing of IT hardware products, i.e., laptops and notebooks, under the Production Linked Incentive 2.0 Scheme (PLI). This is subject to the signing of a definitive agreement in due course.
Safari Industries (India): The share price of the luggage and luggage accessories manufacturer will turn ex-bonus with effect from December 12. The company has decided to issue one bonus share for every share held by shareholders.
Sonata Software: The stock price of the IT services company will start trading ex-bonus with effect from December 12. One bonus share will be issued for every share held by shareholders.
REC: The state-owned entity has entered into a 200-million-euro loan agreement with Germany’s KfW Development Bank. REC would use a line of credit to refinance investments in the distribution infrastructure of DISCOMs in the framework of and in alignment with the Revamped Distribution Sector Scheme (RDSS).
Asahi Songwon Colors: Subsidiary Atlas Life Sciences (India) has successfully commenced the commercial production of API-intermediate at its new plant at Gandhinagar in Gujarat on December 9.
Sterling & Wilson Renewable Energy: The company launched its qualified institution placement (QIP) issue on December 11, with a floor price of Rs 365.02 per share. Further, a meeting of the Securities Committee will be held on December 14 to consider the issue price of the equity shares to be issued via QIP.
IRIS Business Services: The business reporting and compliance solutions company announced a strategic partnership with Prophix, a leading provider of financial performance management software. Prophix will now offer IRIS Carbon, the company's compliance reporting SaaS solution, to the office of the CFO across its clientele, primarily in North America and Europe.
BLS International Services: BLS International Services has once again received the contract for outsourcing Consular, Passport, and Visa services from the High Commission of India (HCI) in Canada. This contract encompasses operations at HCI in Ottawa and Consulate Generals of India (CGIs) in Toronto and Vancouver.
Jtekt India: The company has received a new order worth Rs 182.7 crore from JTEKT Brasil for the supply of loose child parts. JTEKT Brazil and JTEKT India are related parties.
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