Stock to Watch Today - Rupeedesk Reports - 02.06.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Coal India, Tata Motors, Maruti Suzuki, Paras Defence & others in news today.
Coal India: The offer for sale issue by country's largest coal mining company has been subscribed 3.457 times the base size. The offer size for non-retail investors is 8.31 crore shares, and retail investors 92.44 lakh shares in the base issue. Now, the government has decided to exercise the green shoe option to the extent of up to 9.24 crore shares or 1.5% stake, in addition to base issue size of 9.24 crore shares. Accordingly, the total offer size will be 18.48 crore shares, and of which 1.84 crore shares would be reserved for allocation to retail investors, as part of the offer on June 2.
Tata Motors: The Tata Group company has sold 74,973 units of commercial and passenger vehicles in May 2023, falling 1.6% from 76,210 units in May 2022, but were above analysts' estimates. Domestic sales dropped 2% YoY to 73,448 units, but exports grew by 4.8% to 1,525 units in same period.
Maruti Suzuki India: The country's largest car maker announced production of 1.8 lakh vehicles in May 2023, increasing 9.3% over 1.64 lakh units produced in May 2022. Passenger vehicle production stood at 1.76 lakh units, up 9.8% over same month last year.
Eicher Motors: The company announced sale of 77,461 units of Royal Enfield in May 2023, increasing 22% over 63,643 units sold in same month last year, beating analysts' estimates, driven by domestic business. Exports fell 34% YoY to 6,666 units in May 2023.
Hero MotoCorp: The country's largest two-wheeler maker has sold 5.19 lakh units in May 2023, which is in line with analysts' estimates, rising 7% over a year-ago month. Domestic sales grew by 9% year-on-year to 5.08 lakh units, but exports fell 44.8% to 11,165 units in the same period.
Adani Enterprises: Subsidiary Adani Road Transport has terminated share purchase agreement with MAIF for acquisition of 100% stake in Swarna Tollway, and 56.8% stake in Gujarat Road and Infrastructure Company. Adani Road Transport had signed share purchase agreement with MAIF Investments India PTE Limited and MAIF Investments India 3 PTE in August 2022.
Affle India: The technology company with offering consumer intelligence platform said its wholly owned Singapore subsidiary Affle International Pte Ltd (AINT) has completed 100% acquisition of YouAppi Inc.
Bharat Electronics: The Government of India has appointed Nagarajan Vikraman as Director (Human Resources) with effect from June 1. He was working as Executive Director (Radar) at Ghaziabad unit of the company prior to his elevation as Director.
TVS Motor Company: The two-and-three-wheeler maker registered a sales growth of 9% YoY, increasing from 3.03 lakh units in May 2022 to 3.3 lakh units in May 2023, beating analysts estimates. Domestic sales grew by 32% YoY to 2.52 lakh units, but exports fell 30.5% to 76,607 units. TVS iQube electric recorded sales of 17,953 units in May 2023, increasing significantly from 2,637 units in May 2022.
AstraZeneca Pharma India: The company has received approval from Central Drugs Standard Control Organisation, Directorate General of Health Services, Government Of India, in Form CT-20 to import for sale and distribution of Tremelimumab (Imjudo) concentrate in India, for specified indication. Tremelimumab (Imjudo) in combination with Durvalumab (Imfinzi) is indicated for the treatment of patients with unresectable hepatocellular carcinoma (uHCC).
Paras Defence and Space Technologies: The company has entered into a joint venture agreement with Israel-based CONTROP Precision Technologies. Both will undertake business of manufacturing, implementation/installation, integrated logistics support, after sale support, training etc., in the electro optic (EO)/infra-red (IR) field in accordance with the Government of India’s Make in India initiative. Paras will hold 30% stake in joint venture and the rest 70% is held by CONTROP.
Kolte-Patil Developers: Regional Director, Western Region, Ministry of Corporate Affairs (Mumbai) has approved the merger of wholly owned subsidiary Sampada Realities with the company.
Aster DM Healthcare: The company has entered into Hospital Operation and Management Agreement with Padmavathy Medical Foundation (PMF). PMF is a 130-bed tertiary super specialty hospital situated in Sasthamkotta, Kollam District, Kerala.
Aditya Birla Capital: The financial services company said the board has approved preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, out of the total approved equity fund raise of upto Rs 3,000 crore. The preferential issuance will be undertaken at a price of Rs 165.1 per share. The company will issue shares worth Rs 1,000 crore to Grasim Industries (promoter), and Rs 250 crore to Surya Kiran Investments Pte Ltd (promoter group entity). The funds raised are planned to be used for augmenting the capital base, improving the solvency margin and leverage ratio, meeting the growth and funding requirements and to make investments in one or more subsidiaries/associates/joint ventures of the company engaged in certain businesses.
Can Fin Homes: Amitabh Chatterjee, Deputy Managing Director of the company, has resigned with effect from June 1 on account of his repatriation and transfer back to Canara Bank.
GAIL India: The state-owned natural gas company has infused Rs 2,101 crore, comprising Rs 625 crore equity and Rs 1,476.00 crore debt, towards total resolution plan amount in JBF Petrochemicals. Accordingly, JBF Petrochemicals has become a wholly-owned subsidiary of GAIL with effect from June 1, 2023.
NHPC: The state-owned hydropower development organization has entered into a Memorandum of Understanding (MoU) with Vidhyut Utpadan Company (VUCL), Nepal for joint development of Phukot Karnali HE Project (480 MW). This is a run-of-the-river hydropower project in Kalikot district of Karnali Province, Nepal.
MTAR Technologies: France-based financial services company Societe Generale has acquired 4.16 lakh equity shares or 1.35% stake in the precision engineering company via open market transactions at an average price of Rs 1,880 per share. However, promoter Leelavathi Parvatha Reddy sold 3.47 lakh shares in the company at an average price of Rs 1,880.04 per share.
Info Edge India: The investments into shares of 4B Networks by subsidiary Allcheckdeals India, and its loan have been fully impaired due to various factors including excessive cash burn, prevailing liquidity issues and significant uncertainty towards funding options. Allcheckdeals India had made financial investment and provided funding from time to time to 4B Networks, amounting to Rs 288 crore. Hence, Allcheckdeals India is initiating a forensic audit into the affairs of 4B Networks and has appointed Deloitte Touche Tohmatsu India LLP as the forensic auditor for the said forensic audit.
RateGain Travel Technologies: Foreign company Avataar Holdings has offloaded 55 lakh equity shares or 5.07% shareholding in RateGain, a global provider of SaaS solutions for travel and hospitality, via open market transactions at an average price of Rs 375.02 per share. However, Aditya Birla Sun Life Mutual Fund AC Birla Sun Life Advantage Fund purchased 13.34 lakh shares, Aditya Birla SUN Life Mutual Fund AC Aditya Birla Sun Life Equity Hybrid '95 Fund bought 12 lakh shares, and Societe Generale acquired 9.11 lakh shares in RateGain at an average price of Rs 375 per share.
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