Stock to Watch Today - Rupeedesk Reports - 02.01.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Shriram Finance, REC, HG Infra, RITES and others in news today.
New Delhi Television: RRPR Holding, an indirect subsidiary of billionaire Gautam Adani-owned group, has bought 1.75 crore shares or 27.26% stake in NDTV at an average price of Rs 342.65 per share. However, Prannoy Roy and his wife Radhika Roy were the sellers, and with this stake sale, now they together hold 5% stake in NDTV.
Elin Electronics: Copthall Mauritius Investment Limited non-ODI Account exited the electronics manufacturing services company by selling all 5.42 lakh shares via open market transactions, at an average price of Rs 231.42 per share. Societe Generale also offloaded 3.37 lakh shares at an average price of Rs 234.27 per share, while Morgan Stanley Asia (Singapore) Pte sold 5 lakh shares at an average price of Rs 231.6 per share. Morgan Stanley Asia (Singapore) held 10.06 lakh shares before the listing of Elin.
Shriram Finance: The company has raised $100 million long-term funds from the Asian Development Bank. The funding will enable company to provide credit towards the purchase of new and used vehicles throughout India.
Gulshan Polyols: The company has announced collaboration with Amplus, a subsidiary of a Singapore-based company, to purchase electricity in the form of solar energy for its Muzaffarnagar plant in Uttar Pradesh. Gulshan expects to procure 4 to 5 Lakhs units of electricity per month at 30-40% subsidized cost through this association.
HG Infra Engineering: The company has emerged as the L1 bidder for the project by Delhi Metro Rail Corporation in Delhi. The project bid cost is Rs 412.11 crore and the construction period is 24 months.
Muthoot Capital Services: The company has completed the transaction of Rs 82.87 crore through securitization of portfolio. This is the sixth securitization or direct assignment transaction carried out by the company during FY23.
Harsha Engineers International: The company will make an investment up to 5% of total capital contribution in Goldi Harsha Ventures. Goldi Harsha Ventures is a special purpose vehicle to execute an EPC project for installation of 10 MW solar power project of Surat Municipal Corporation (SMC) alongwith comprehensive operation and maintenance. The SPV is yet to commence business.
Punjab & Sind Bank: The bank has received board approval for fund raising up to Rs 250 crore in next one year in one or more tranches, via equity or bonds issuance.
Jammu & Kashmir Bank: The bank has raised Rs 1,021 crore via allotment of 1,021 non-convertible debentures of face value of Rs 1 crore.
REC: The state-owned power project finance company has received board approval for sale of entire shareholding in WRSR Power Transmission, to Adani Transmission. WRSR Power Transmission is presently owned by REC's subsidiary REC Power Development and Consultancy (RECPDCL). Adani Transmission has been selected as the successful bidder through tariff based competitive bidding process.
Tata Motors: Tata Passenger Electric Mobility, a subsidiary of Tata Motors, has decided to complete the acquisition of Ford India's manufacturing plant at Sanand in Gujarat on January 10, 2023. As a part of acquisition, Ford India will transfer entire land and buildings; and vehicle manufacturing plant along with machinery and equipment; for Rs 725.7 crore, along with all eligible employees.
NMDC: Life Insurance Corporation of India pared stake in the state-owned iron ore company by 2.07% via open market transactions. With this, LIC's shareholding in NMDC will be reduced to 13.699%, from 15.772% earlier.
Religare Enterprises: Religare Finvest and parent company Religare Enterprises have entered into one-time settlement agreement with 16 lenders for full & final settlement with respect to outstanding dues of Religare Finvest. Religare Finvest has been taking necessary corrective measures as advised by the Reserve Bank of India and it will seek removal of the CAP (corrective action plan) in due course so that Religare Finvest can restart its lending business.
Engineers India: The company and Numaligarh Refinery have inked a memorandum of agreement (MoA) to jointly develop technology for production of aqueous ammonia from ammonia rich sour gases.
63 Moons Technologies: The company will provide software support services to Multi Commodity Exchange of India for another six months period commencing January 1, 2023 to June 30, 2023, at the request of MCX. The earlier software support and maintenance agreement ended on December 31, 2022.
CreditAccess Grameen: The company has completed two direct assignment transactions aggregating to Rs 297.79 crore in December 2022. During the quarter ending December 2022, the company has raised total funds of Rs 3,300.38 crore through term loans, NCDs, ECBs and direct assignments.
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