Stock to Watch Today - Rupeedesk Reports - 23.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Hero MotoCorp, Hindustan Aeronautics, HG Infra Engineering, and others in the news today.
Hero MotoCorp: Hero MotoCorp to revise price of motorcycles & scooters from April 1. The country's largest two-wheeler maker will make an upward revision in the ex-showroom prices of its select motorcycles and scooters, effective from April 1, 2023. The price revision, which will be around 2 percent on average, is mainly due to cost increases on account of OBD 2 transition. The exact quantum of increase will vary by specific models and markets.
Hindustan Aeronautics: Government to sell 3.5 percent stake in Hindustan Aeronautics via offer-for-sale. The Government of India is set to sell up to 1.75 percent (58.51 lakh) equity shares via offer-for-sale on March 23 and March 24. It has the option to sell an additional 1.75 percent (58.51 lakh) equity shares of the company, which is an oversubscription option. If this option is exercised, the equity shares forming part of the base offer size together with the oversubscribed shares will represent 3.50% (1.17 crore) equity shares of HAL. The floor price for the offer will be Rs 2,450 per share, which is at a discount of 6.7 percent to the closing price of March 22.
Power Grid Corporation of India: Power Grid Corporation of India acquires project SPV Khavda RE Transmission. Power Grid acquired Khavda RE Transmission (KRTL) from the bid process coordinator - REC Power Development and Consultancy. KRTL is the project SPV to establish transmission network expansion in Gujarat associated with the integration of RE projects from Khavda potential RE zone, on a build, own, operate and transfer (BOOT) basis. This apart, Power Grid also acquired KPS3 Transmission (KPS3TL), the project SPV to establish Khavda Pooling Station-3 (KPS3) in Khavda RE Park; KPS2 Transmission (KPS2TL), the project SPV to establish Khavda Pooling Station-2 (KPS2) in Khavda RE Park; and Khavda II-C Transmission (KCTL), the project SPV to establish transmission scheme for evacuation of 4.5GW RE injection at Khavda PS under Phase II- Part C, all on BOOT basis.
GR Infraprojects: GR Infraprojects JV emerges as L-1 bidder for construction of civil works project worth Rs 3,637.12 crore in Arunachal Pradesh. Dibang Power consortium, a joint venture between GR Infraprojects and Patel Engineering, has emerged as L-1 bidder for the construction of civil works for LOT-4 comprising head race tunnels including intake, pressure shafts, penstocks, power house & transformer cavern, tail race tunnels, pothead yard, adits, etc. for the Dibang Multipurpose Project 2880 MW (12 X 240 MW) in Arunachal Pradesh. The bid project cost is Rs 3,637.12 crore and the share of GR Infraprojects in the contract is 50 percent. In addition, GR Infraprojects has emerged as L-1 bidder for a road project worth Rs 872.17 crore in Maharashtra that is to be executed in Hybrid Annuity Mode under Bharatmala Pariyojana.
Kajaria Ceramics: Small Cap World Fund offloads Rs 130 crore shares in Kajaria Ceramics. Foreign portfolio investor Small Cap World Fund Inc has offloaded 12.5 lakh shares or 0.78 percent stake in the ceramic and vitrified tiles manufacturer via open market transactions, at an average price of Rs 1,040.03 per share, which amounted to Rs 130 crore. Small Cap World Fund Inc had held a 1.06 percent stake or 16.88 lakh shares in the company as of December 2022.
HG Infra Engineering: HG Infra Engineering declares as L-1 bidder for road project worth Rs 764 crore in Jharkhand. HG Infra Engineering has been declared as an L-1 bidder by the National Highways Authority of India for a road project in Jharkhand. The project costs Rs 764.01 crore and the construction period is 730 days.
Nazara Technologies: Nazara Technologies arm Sportskeeda acquires Pro Football Network, the NFL publisher in US. Subsidiary Absolute Sports (Sportskeeda) has signed an agreement to acquire a 73.27 percent stake in Pro Football Network LLC (PFN), a premier source of coverage and analysis of the NFL (United States’ most watched sport) and college football. This marks the first acquisition made by Absolute Sports in the US sports media market. The acquisition cost is $1.82 million (Rs 16 crore). In CY22, PFN had revenues of $2.1 million.
Coromandel International: Coromandel International to expand operations in crop protection chemicals, foray into CDMO business. The board approved the company's plan to expand operations in crop protection chemicals and foray into the contract development & manufacturing organisation (CDMO) business. The board further approved the plan to diversify into new growth areas - specialty and industrial chemicals. The company plans to invest Rs 1,000 crore over the next two years in these businesses and leverage the macro tailwinds in the chemicals sector to build a business of scale.
Indian Railway Catering and Tourism Corporation: IRCTC appoints Lokiah Ravikumar as Director for catering services. The board of directors has appointed Dr Lokiah Ravikumar, as a Director (catering services) of the company. Lokiah Ravikumar has a working experience of over 37 years in the hospitality industry covering catering and tourism businesses.
Burnpur Cement: Burnpur Cement signs second extension and amendment agreement with UltraTech Cement. The company has entered into a second extension and amendment agreement, with UltraTech Cement, to extend and amend the terms and conditions of the Offtake Agreement and the First Extension Agreement entered earlier between the company and UltraTech.
KSB: Nippon Life India Trustee offloads 0.26% stake in KSB. Nippon Life India Trustee has sold 92,000 equity shares or 0.26 percent stake in the pumps and Valves manufacturer via open market transactions. With this, Nippon's stake in the company dropped to 2.98 percent from 3.246 percent.
Indraprastha Gas: Indraprastha Gas signs MoU with BHEL for manufacturing cylinders, hydrogen blending in CGD, fuel cell based power backup system. IGL and Bharat Heavy Electricals (BHEL) have signed an MoU for the development, manufacturing & deployment of Type-IV cylinders, hydrogen blending in city gas distribution (CGD) and fuel cell-based power backup systems.
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