Stock to Watch Today - Rupeedesk Reports - 23.08.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: TVS Supply Chain, Vodafone Idea, BEML, RITES, Polycab India, others in news.
TVS Supply Chain Solutions: The TVS Mobility Group company will make its debut on the BSE and NSE on August 23. The issue price has been fixed at Rs 197 per share.
Piramal Enterprises: The company said the board members have approved the public issuance of non-convertible debentures (NCDs) for up to Rs 3,000 crore. The public issuance of Rs 3,000 crore will take place in one or more tranches.
Vodafone Idea: The debt-ridden telecom operator plans to clear about Rs 2,400 crore of dues to the government by September, sources privy to the development told PTI. The company will clear dues for the June 2023 quarter and spectrum instalment with applicable interest by September, the source said. Vodafone Idea had to pay a licence fee of around Rs 770 crore by July and Rs 1,680 crore as the first instalment for the spectrum it purchased in auctions that were held last year.
BEML: The state-owned entity has bagged order from Ministry of Defence (Army) for supply of command post vehicles. The order is worth Rs 101 crore approximately.
RITES: The state-run railway company has emerged as the lowest bidder in the tender floated by the Railway Board. The estimated order value is Rs 65.4 crore. The company will do a service testing and inspection of rails as per IRS T-12 2009 for the Indian Railways. The contract will be executed within a five-year period, and extendable by up to one year.
Polycab India: The electrical equipment maker has issued a comfort letter to HDFC Bank for the enhanced borrowing facility from Rs 52 crore to Rs 89.97 crore to be availed by subsidiary Tirupati Reels. Subsidiary will use funds for working capital and capex expenditure to meet its business requirement for manufacturing business.
Bharat Forge: The validity period for the guarantee provided by the company to its wholly owned step-down subsidiary, Bharat Forge Aluminum USA, Inc, has been revised. The amount of $15.5 million issued in favour of JP Morgan Bank was earlier valid till November 27, 2023. The said guarantee is amended and the revised validity period is till July 31, 2026.
Wipro: The leading IT services company has launched the digital skills credentialing and verification initiative in India, to create transparent talent ecosystem. The initiative will make validation of credentials easier, faster, and more reliable.
SJS Enterprises: Promoter entity Evergraph Holdings Pte Ltd sold 29.52% stake out of its personal holding of 34.15% in the aesthetics solutions provider, through open market transactions. Evergraph offloaded 45.82 lakh shares each in SJS at an average price of Rs 600 per share, and Rs 600.06 per share, respectively, amounting to Rs 549.87 crore. Investor Sanders Consulting sold 1.73 lakh shares in the company at an average price of Rs 600.78 per share. However, investors bought 75.35 lakh shares or 24.3% stake in SJS at an average price of Rs 600 per share.
Shriram Properties: Foreign company Omega TC Sabre Holdings Pte Limited sold further 2.29 percent stake or 39 lakh shares in the real estate developer, via open market transaction, at an average price of Rs 78.44 per share, amounting to Rs 30.59 crore. In previous session, Omega had sold 18 lakh shares or 1.06% stake. With this, the total shareholding sold by Omega is 3.35% so far, against 9.39% held as of June 2023.
NBCC: NBCC (India) and Delhi Metro Rail Corporation (DMRC) signed Memorandum of Understanding to work together in the field of building & infrastructure development in overseas.
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