Stock to Watch Today - Rupeedesk Reports - 07.07.2023
Buzzing Stocks: RIL, Ideaforge Technology, Titan, Sobha, Dabur & others in news today
Reliance Industries: The National Company Law Tribunal, Mumbai has sanctioned the scheme of arrangement between Reliance Industries and Reliance Strategic Investments. The company and Reliance Strategic Investments will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments.
Ideaforge Technology: The leading drone manufacturing company will make debut on the bourses on July 7. The issue price has been fixed at Rs 672 per share.
Sobha: The south-based real estate developer has recorded a 27.9% year-on-year growth in total sales at Rs 1,465 crore for quarter ended June FY24, which is the highest ever quarterly sales value, while sales volume increased by 2.6% YoY to 1.39 million square feet. Price realisation for the quarter surged 24.6% to Rs 10,506 per square feet compared to same period last year. The company has completed construction of 0.97 million square feet of saleable area (624 homes).
Titan Company: The jewellery-to-watch maker has registered a 20% year-on-year growth in revenue for June FY24 quarter, with all key consumer businesses exhibiting double-digit growth in the quarter. A total of 68 stores were added (including CaratLane) during the quarter taking Titan's retail presence to 2,778 stores. The jewellery division grew 21 percent YoY, with 18 new store additions, while watches & wearables segment registered a 13% growth and eyecare division sales increased by 10% YoY, while fragrances & fashion accessories segment grew 11% YoY, driven by 9% growth in fragrances and 13% growth in fashion accessories. CaratLane reported a 32% YoY growth driven with healthy contributions from multiple avenues.
Dabur India: The FMCG major's consolidated business including recently acquired Badshah Masala, is expected to register growth exceeding 10 percent for the quarter YoY. The international business is expected to report a strong performance with double-digit growth in constant currency as softening of inflation in international markets is having a positive impact on the business. India business is expected to post growth in high single digit.
JK Cement: Subsidiary JK Maxx Paints has acquired 20% stake, as a second tranche, in Acro Paints for Rs 60.24 crore. Consequently, JK Maxx Paints has acquired total 80% stake in Acro Paints, the paint & construction chemicals manufacturer, with immediate effect.
NTPC: The country's largest power generation company said the unit-2 of 660 MW capacity of Stage-I (3 x 660 MW) of Barh super thermal power project in Bihar, has successfully completed trial operation. Consequently, the 660 MW included in the installed capacity of NTPC. With this, installed capacity of NTPC group has become 73,024 MW.
Indian Oil Corporation and Praj Industries: Both companies signed a term sheet to advance plans to strengthen biofuels production capacities in India. Various biofuels covered under this MoU include sustainable aviation fuel (SAF), ethanol, compressed bio-gas, biodiesel and bio-bitumen among others. In October 2021, both the companies had entered into an agreement to form a 50:50 joint venture.
UFO Moviez India: Digital cinema companies UFO Moviez India and Qube Cinema Technologies announced their intention to forge a transformative strategic alliance, proposing two 50:50 joint ventures for advertising and content services. One joint venture will be focused on the commercial monetization and marketing of the combined cinema advertising inventory in India, while the other JV will oversee feature film mastering, localization and content delivery within India and Nepal.
Capacite Infraprojects: The construction engineering company has raised Rs 96.3 crore as its board members approved an allotment of 56.65 lakh equity shares at an issue price of Rs 170 per share on preferential basis to 17 non-promoters including Param Value Investments, Vikas Vijaykumar Khemani, Capri Global Holding, and Value Prolific Consulting.
Aster DM Healthcare: The healthcare services provider has acquired additional 2.36% stake in material subsidiary Malabar Institute of Medical Sciences which operates hospitals in Kerala. Consequent to the said acquisition, shareholding in Malabar Institute of Medical Sciences has increased from 76.01% to 78.37%.
Indian Hotels: India’s largest hospitality company has expanded its portfolio to 270 hotels, with signing agreements for 11 hotels and opening 5 new hotels across destinations. With the current portfolio of 270 hotels, the company remains well poised to achieve its vision of over 325 hotels by 2025.
Eris Lifesciences: HDFC Mutual Fund has bought 13.5 lakh equity shares or 0.99% stake in the pharma company via open market transactions at an average price of Rs 697 per share, which amounted to Rs 94.09 crore. However, Shah Rakesh sold 27 lakh shares at same price, amounting to Rs 188.19 crore.
India Grid Trust: The Securities and Exchange Board of India has granted its approval for de-classification of Sterlite Power Transmission (SPTL) as a sponsor of India Grid Trust. Accordingly, SPTL will be de-classified as a sponsor of IndiGrid with effect from July 6.
Sat Industries: Europe-based financial services group Societe Generale has bought 16.1 lakh shares or 1.42% stake in the company at an average price of Rs 85.05 per share.
Piramal Enterprises: Foreign portfolio investors New World Fund Inc and Small Cap World Fund Inc exited the company by selling entire 34.62 lakh equity shares and 23.92 lakh shares respectively, at an average price of Rs 941.15 per share. The stake sale amounted to Rs 551.03 crore.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
