Stock to Watch Today - Rupeedesk Reports - 28.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Paytm, Allcargo Logistics, Dilip Buildcon and others in news today.
One 97 Communications: The NPCI announced Wallet interoperability guidelines on March 24. Now, Paytm Payments Bank will earn 1.1% interchange revenue when Paytm Wallet customers make payment on merchants acquired by other payment aggregators or banks. Paytm Payments Bank will pay 15 bps of charges for adding more than Rs 2,000 using UPI, and in turn will also earn 15 bps when any other wallets use the bank to add more than Rs 2,000 using UPI. Paytm Payments Bank acquires UPI payment merchants.
SJVN: The hydroelectric power generation company has secured GREEN Financing of JPY 15 billion (around Rs 915 crore) from Japan Bank for International Cooperation (JBIC). The loan is co-financed with Japanese private financial institutions. The objective of incumbent debt to finance 90 MW Omkareshwar floating solar power project in Madhya Pradesh and 100 MW Raghanesda solar power project in Gujarat having combined estimated cost of Rs 1,288.35 crore.
Kalyan Jewellers India: Warburg Pincus through its subsidiary Highdell Investments will offload a 2.5% stake in the jewellery maker through a block deal, reports CNBC-TV18 quoting sources. Highdell would offload the shares at a price of Rs 110 apiece, taking the overall deal value to Rs 288 crore for the 2.5% stake.
Aditya Birla Capital: The company has received board approval for sale of its entire 25.65 lakh shares or 50.002% stake in Aditya Birla Insurance Brokers, to Edme Services. Edme Services is part of the Samara Capital Group and an affiliate of Samara Alternate Investment Fund. The transaction is expected to be completed within 120 to 180 days from the execution of the SPA.
PNC Infratech: The company has been declared as L1 (lowest) bidder for a highway project under the Ministry of Road Transport & Highways (MORT&H) in Uttar Pradesh on a Hybrid Annuity Mode (Package-III), for a bid project cost of Rs 819.0 crore. Project is to be completed in 24 months and operated for 15 years, post construction.
Allcargo Logistics: The logistics company has signed a Share Purchase Agreement with KWE Singapore, KWE Kintetsu Express (India), Gati and Gati-Kintetsu Express (GKEPL) for acquisition of 1.5 lakh equity shares (30% stake) in GKEPL, for Rs 406.7 crore. The 1.5 lakh shares comprised, 1.3 lakh equity shares (26% stake) in GKEPL from KWE Singapore and 20,000 shares (4%) stake from KWE India.
RITES: The Ministry of Railways has appointed Dr Deepak Tripathi as Director (Technical) of RITES. AK Chandra, IRSME, PED/W&D, Railway Board holding additional charge to the post of Director (Technical) of RITES ceases to be Director (Technical) after appointment of Deepak Tripathi.
Dilip Buildcon: The company has been declared as L-1 bidder for new HAM project 'Bengaluru - Vijayawada under Bharatmala Pariyojana Phase-I (Package -7) in Andhra Pradesh. The project is worth Rs 780.12 crore, and the tender is floated by the National Highways Authority of India. Project is to be constructed in 24 months and operated for 15 years, from commencement of operations date.
Sagar Cements: The cement company said the board has approved a proposal to furnish a corporate guarantee of Rs 665 crore to State Bank of India, as a security for the loan availed by subsidiary Andhra Cements. Board has also approved a proposal to pledge 25% of Sagar Cement's holdings in Andhra Cements in favour of the said banker as further security for the said loan.
ASI Industries: Shivratan Ramchandra Soni has resigned as Chief Executive Officer of the stone mining company with effect from March 31 due to his personal reasons. The resignation has been accepted by the board and he will be relieved from his services from March 31.
Phoenix Mills: CPP Investment (entity owned by Canada Pension Plan Investment Board) has completed its second tranche of investment of Rs 160 crore in Plutocrat Commercial Real Estate (PCREPL), subsidiary of Phoenix Mills, on private placement basis. CPP Investment subscribed to 1,109 equity shares of PCREPL for Rs 160 crore. CPP Investment had completed its first tranche of investment of Rs 787 crore in PCREPL in November 2021. After this investment, Phoenix Mills and CPP Investment hold 59.74% and 40.26% stake respectively, in PCREPL.
Oracle Credit: The non-banking finance company has received board approval for fund raising up to Rs 49 crore via issue of equity shares by way of Rights issue to the eligible equity shareholders.
Ugro Capital: The meeting of the Investment and Borrowing Committee of the Board of Directors is scheduled to be held on March 30, to consider raising of funds by way of issuance of commercial papers.
Supriya Lifescience: Dovetail India Fund Class 6 Shares has offloaded 5.47 lakh equity shares or 0.68% stake in the active pharmaceutical ingredient manufacturer at an average price of Rs 177.08 per share. Dovetail India held 1.81% or 14.59 lakh shares in the company as of December 2022.
Adani Enterprises: Subsidiary AMG Media Networks has completed acquisition of 49% equity stake in Quintillion Business Media (QBML) for Rs 47.84 crore. QBML operates an exclusive business and financial news on digital media platform.
Lemon Tree Hotels: The company has opened its fifth Hotel in Kerala under its brand 'Keys Prima by Lemon Tree Hotels, Thekkady'. This hotel features 42 well-appointed rooms. The hotel is managed by subsidiary Carnation Hotels.
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