Stock to Watch Today - Rupeedesk Reports - 25.08.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Vedanta, Paytm, Astra Microwave, Reliance, Airtel, others in news.
One 97 Communications: Promoter Antfin is likely to sell 3.6% stake or 2.3 crore shares of fintech company Paytm through a block deal on August 25, reported Bloomberg. The floor price for the deal is likely to be at a discount of Rs 880.10 per share, a 2.7% discount to Thursday's closing price.
Astra Microwave Products: The manufacturer of sub-systems for radio frequency and microwave systems has bagged orders worth Rs 158 crore for the supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from DRDO, ISRO and DPSUs.
Bharat Electronics: To enhance the efficiency of the Indian Air Force, the Defence Acquisition Council has granted Acceptance of Necessity for procurement and installation of electronic warfare (EW) suite on Mi-17 V5 helicopters under the buy (Indian-IDDM) category which will enhance better survivability of helicopters. The EW Suite will be procured from Bharat Electronics (BEL).
KPI Green Energy: The company has received commissioning certificates from Gujarat Energy Development Agency (GEDA) for 4.10MW wind-solar hybrid power project at Bharuch in Gujarat. The power project comprises 2.10MW wind and 2MWdc solar capacity, being company's own power generating asset portfolio.
Borosil: Subsidiary Klass Pack has completed acquisition of additional 4.56% stake in Goel Scientific Glass Works by purchasing 1,66,290 equity shares from Hemant Goel. With this purchase, shareholding of Klass Pack in Goel Scientific has increased from 90.17% to 94.73%.
Vedanta: The mining company has received an arbitration award upholding the company's contention in Rajasthan block case. The contention of the company is that the additional profit petroleum is not payable as per terms of the production sharing contract for Rajasthan block. The profit petroleum is on account of the Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters.
Syrma SGS Technology: The electronics manufacturing services company has received board approval for appointment of Satendra Singh as Chief Executive Officer (CEO) with immediate effect.
Bharti Airtel, Reliance Industries: In June, total wireless subscribers increased by 0.03 percent from 114.32 crore at the end of May 2023, to 114.36 crore at the end of June 2023. The private access service providers held 91.11% market share of the wireless subscribers in June 2023, while the PSUs BSNL and MTNL had a market share of only 8.89%, as per data released by Telecom Regulatory Authority of India (TRAI). Telecom operator Bharti Airtel has net added 14.09 lakh users in June against 13.28 lakh addition in May, and Reliance Jio, a part of Reliance Industries' Jio Platforms, has net added 22.7 lakh users in June against addition of 30.38 lakh users in previous month, whereas Vodafone Idea lost 12.85 lakh users in June against loss of 28.15 lakh users in May.
Reliance Industries: The billionaire Mukesh Ambani-owned Reliance has entered into an understanding with The Oberoi Hotels and Resorts (Oberoi) to jointly manage three properties across India and the UK. These include the upcoming Anant Vilas Hotel in Mumbai’s Bandra Kurla Complex (BKC), the iconic Stoke Park in the UK, and another planned project in Gujarat.
Shoppers Stop: Venugopal G Nair has resigned as Managing Director & CEO of the department store chain with effect from August 31, 2023. The board members have appointed Kavindra Mishra as an Additional Director of the company with effect from September 1. Kavindra has also been promoted from his position as Chief Commercial Officer and CEO of Homestop to Executive Director & Chief Executive Officer of Shoppers Stop for three years.
Coforge: SBI Mutual Fund, Societe Generale - ODI, Smallcap World Fund Inc, Morgan Stanley Asia Singapore Pte, Kotak Funds - India Midcap Fund, ICICI Prudential Life Insurance Company, HDFC Mutual Fund, and Aditya Birla Sun Life Mutual Fund has bought 62.93 lakh equity shares or 10.3% stake in the mid-sized IT company, which amounted to Rs 2,976.5 crore. However, promoter Hulst B V, owned by Baring Private Equity Asia, exited the company by selling entire 1.62 crore equity shares or 26.63% stake at an average price of Rs 4,722.15 per share, amounting to Rs 7,683.53 crore.
Amber Enterprises India: The Government of Singapore has bought 4.05 lakh equity shares in Amber Enterprises India, which provides solutions to air conditioner OEM and ODM industry, via open market transactions, at an average price of Rs 2,800 per share. The stake buy was worth Rs 113.48 crore.
Max Financial Services: Plutus Wealth Management LLP has bought 25 lakh shares in the Max Group company and UBS (US) Group Trust acquired 47.5 lakh shares at an average price of Rs 873 per share. Together they bought 2.1% stake worth Rs 632.92 crore. However, promoter Max Ventures Investment Holdings sold 1.12 crore shares or 3.26% stake in the company at same price, which was worth Rs 982.12 crore.
Sapphire Foods India: Promoter Sapphire Foods Mauritius has sold 16.25 lakh equity shares or 2.55% stake in the franchisee of Yum! Brands Inc, via open market transaction, at an average price of Rs 1,355 per share. However, Wtcnam Common Trust Funds Trust Emerging Markets Opportunities Portfolio bought 11.14 lakh shares or 1.75% stake at same price.
Universal Autofoundry: Ace investor Ashish Rameshchandra Kacholia has picked 8.54% stake or 10.34 lakh equity shares in the iron foundries company via open market transactions at an average price of Rs 161.59 per share. Himalaya Finance & Investment Company also bought 10.34 lakh shares at an average price of Rs 168.49 per share. However, Urmila Gupta sold 1.17 lakh shares at an average price of Rs 193.4 per share, Payal Gupta offloaded 9.85 lakh shares at an average price of Rs 160 per share, Kishan Lal Gupta 1.77 lakh shares at an average price of Rs 193.4 per share, and Amit Gupta 7.71 lakh shares at an average price of Rs 160 per share, who were part of promoter group and offloaded their entire personal shareholdings.
Manappuram Finance: Foreign portfolio investor Quinag Acquisition (FPI) exited the gold loan financing company by selling entire 8.38 crore equity shares or 9.9% stake via open market transactions at an average price of Rs 140.5 per share. However, BofA Securities Europe SA bought additional 62.6 lakh shares or 0.74% stake in the company at an average price of Rs 140.17 per share, and Chartered Finance and Leasing purchased 50 lakh shares at an average price of Rs 140.3 per share. Mansi Share & Stock Advisors net bought 36 lakh shares in Manappuram at an average price of Rs 140.29 per share, and F3 Advisors net purchased 35.83 lakh shares at an average price of Rs 140.53 per share.
Granules India: The pharma company has received the Accreditation Certificate of Foreign Drug Manufacturer from Pharmaceuticals and Medical Devices Agency (PMDA), Japan for its Jeedimetla facility in Telangana. The certification has been received for accreditation categories of non-sterile drugs, packaging, labelling and storage of drugs. Jeedimetla facility manufactures active pharmaceutical ingredients (API) and pharmaceutical formulation intermediates (PFIs). Further, Granules also received the approval from Brazilian Health Regulatory Agency (ANVISA), for compliance with the guidelines of good manufacturing practices for its Bonthapally facility, in Telangana. Bonthapally facility manufactures API.
GI Engineering Solutions: GG Engineering continued offloading stake in the engineering design company for fourth consecutive session. It sold 25.84 lakh shares at an average price of Rs 12.15 per share, and 11.8 lakh shares at an average price of Rs 12.14 per share. With Thursday's 4.37% stake sale, GG Engineering has sold 1.23 crore shares or 14.38% stake in GI Engineering in four sessions, against 24.47% shareholding held as of June 2023.
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