Stock to Watch Today - Rupeedesk Reports - 11.04.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: SBI, HDFC Bank, Bank of Baroda, Vedanta and others in news today.
State Bank of India: The country's largest lender said its Executive Committee of the Central Board will meet on April 18 to consider the long term fund raising in single or multiple tranches of up to $2 billion, through a public offer and/or private placement of senior unsecured notes in US dollar or any other convertible foreign currency during FY24.
HDFC Bank: The country's largest private sector lender said the board on April 15 will consider a proposal for recommendation of dividend for the financial year ended March 2023. The board will also consider audited financial results for the same financial year.
Bank of Baroda: The total business of the public sector lender has crossed Rs 21 lakh crore milestone, rising 16.8% YoY to Rs 21.77 lakh crore in the quarter ended March FY23. Total advances grew by 19% YoY and 5.4% QoQ to Rs 9.74 lakh crore as of March 2023, and deposits rose by 15.1% YoY and 4.7% QoQ to Rs 12.04 lakh crore.
IRB Infrastructure Developers: The highway construction company has recorded toll collection at Rs 369.9 crore for the month of March 2023, growing 20.6% over toll collection of Rs 306.6 crore in same month last year. The growth was 5.2% compared to February 2023.
Vedanta: The billionaire Anil Agarwal-owned company is going to consider issuance of NCDs (non-convertible debentures) on a private placement basis on April 13. In addition, the Supreme Court has permitted Vedanta to carry out the activities at copper smelter plant at Thoothukodi, Chennai, after considering the report of the High Powered Expert Committee and recommendations of the state.
Shilpa Medicare: The pharma company has received final approval from US Food and Drug Administration (USFDA) for its ANDA, Apremilast tablets, which are available in 10 mg, 20 mg, and 30 mg strengths. The drug is used for the treatment of adult patients with active psoriatic arthritis. Apremilast is a generic equivalent of reference listed drug OTEZLA of Celgene.
Nagarjuna Fertilizers and Chemicals: The company has restarted its urea production in Plant - II, at Kakinada in Andhra Pradesh. The production has been stabilized on April 9.
Star Health and Allied Insurance: The insurance company has recorded a gross direct premium at Rs 12,950.9 crore for the period ended March 2023, a 13% growth over same period last year as per provisional data. The gross direct premium in health-retail segment at Rs 11,947.5 crore grew by 18%, but health-group segment registered a 31% decline in gross direct premium at Rs 807.5 crore in the same period.
Delta Corp: The gaming and hospitality corporation will be in focus ahead of its March FY23 quarter earnings. The company will also consider dividend, if any.
Kalpataru Power Transmission: The EPC company has received orders worth Rs 3,079 crore in March and April 2023, including civil works for a data centre and buildings of Rs 1,234 crore, EPC order in railway business of Rs 754 crore, and water supply projects of Rs 708 crore in India. Further, the board has approved the change of company's name to Kalpataru Projects International Ltd, from Kalpataru Power Transmission Ltd.
Trident: Under the home textiles division, the company reported bath linen production at 3,556 metric tonnes in March 2023, bed linen at 3.12 million metres, and yarn at 8,675 metric tonnes, while in the paper and chemicals division, the paper business recorded 12,010 metric tonnes of production and chemical business registered production of 9,378 metric tonnes.
Kaveri Seed Company: The company has received approval from its board of directors for incorporation of a wholly-owned subsidiary in Bangladesh under the name of Kaveri Seed Company Bangladesh Private Limited, due to various business opportunities available in that country.
UGRO Capital: The Securities Allotment and Transfer Committee of the company has launched the QIP (qualified institutions placement) issue on April 10. The floor price has been fixed at Rs 149.54 per share.
Schaeffler India: The ball and rolling bearing manufacturer will trade ex-dividend with effect from April 11. The company has announced final dividend of Rs 24 per share.
Exide Industries: The automobile batteries manufacturer has bought 24.80 lakh equity shares in Ulric Renewables, at a price of Rs 80 per share, amounting to Rs 19.84 crore. With this investment, its shareholding in Ulric Renewables stands at 39.08%. Ulric Renewables is a special purpose vehicle promoted and incorporated by Cleantech Solar India OA 2 Pte Ltd for setting up captive wind power projects aggregating to 18.9 MW for various manufacturing facilities of the company.
Bannari Amman Spinning Mills: The board members of the company will meet on April 19 to consider various proposals for fund raising.
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