Stock to Watch Today - Rupeedesk Reports - 19.08.2024
Stock to Watch Today - Rupeedesk Reports - 19.08.2024
Buzzing Stocks : Kolte Patil, Allsec Tech, DCX Systems, Caplin Point, Techno Electric in focus on Monday.
Kolte-Patil Developers : Khiroda Chandra Jena has resigned as Chief Financial Officer of the company, effective August 17, to pursue professional opportunities outside the organization.
GMR Airports Infrastructure : Passenger traffic across all airports in July grew by 7.7% YoY to 1.06 crore, with domestic passenger traffic up 7.1% and international passenger traffic rising 9.3%. Aircraft movements increased by 6% YoY and 2% MoM to 68,755.
Samvardhana Motherson International : The company’s subsidiary, Samvardhana Motherson Innovative Solutions, has acquired a 34% stake in Motherson Auto Solutions from Sojitz Corporation. Following the acquisition, Motherson Auto Solutions has become an indirect wholly-owned subsidiary of the company.
Polyplex Corporation : The board has approved the re-appointment of Pranay Kothari as Whole Time Director, designated as Executive Director of the company, for three years, effective September 7.
Uno Minda : Ramesh KS has been appointed as Chief Executive Officer (CEO) for ECS-2 Domain of the company, effective August 17. He will report to Nirmal K. Minda, Chairman and Managing Director of the company.
Adani Enterprises : The Management Committee of the company has approved the public issuance of non-convertible debentures amounting to up to Rs 400 crore, with an option to retain over-subscription up to Rs 400 crore, aggregating up to Rs 800 crore.
Allsec Technologies : Gaurav Mehra has resigned from the post of Chief Financial Officer (CFO) of the company due to personal reasons, to pursue professional goals outside the organization. He will cease to be the CFO of the company effective September 25.
Bank of Maharashtra : The Reserve Bank of India has imposed a monetary penalty of Rs 1.27 crore on Bank of Maharashtra for non-compliance with certain directions issued by the RBI on ‘Loan System for Delivery of Bank Credit,’ ‘Cyber Security Framework in Banks,’ and ‘Know Your Customer.’
Poonawalla Fincorp : The Reserve Bank of India has imposed a monetary penalty of Rs 10 lakh on Poonawalla Fincorp for non-compliance with certain provisions related to the Fair Practices Code for NBFCs.
DCX Systems : The company has received orders worth Rs 107.09 crore from domestic and overseas customers for the supply of electronic kits and cable & wire harness assemblies.
Caplin Point Laboratories : ANVISA-Brazil (the drug agency of Brazil) conducted an inspection of the company’s subsidiary Caplin Steriles’ injectable and ophthalmic manufacturing facility at Gummidipoondi. The inspection was conducted between August 12 and 16 and concluded with zero observations.
Mphasis : The board appointed Aravind Viswanathan as the Chief Financial Officer of the company with immediate effect, following the resignation of Manish Dugar as the Chief Financial Officer.
Hindustan Zinc : Promoter Vedanta has decided to exercise the oversubscription option in the offer-for-sale of Hindustan Zinc to the extent of 1,21,65,562 equity shares (representing 0.29% of paid-up equity share capital). This is in addition to 5,14,40,329 equity shares (1.22% stake) forming part of the base offer size. Accordingly, the total offer size will be up to 6,36,05,891 equity shares (1.51% stake), of which 63,60,590 equity shares of the offer would be reserved for allocation to retail investors on August 19.
Jubilant Pharmova : Jubilant Biosys Innovative Research Services Pte, Singapore, a subsidiary of Jubilant Biosys (a wholly-owned subsidiary of the company), has signed and issued a “put option offer” to Pierre Fabre Laboratories. With this offer, Jubilant Biosys will acquire 80% equity capital (4.4 million euros over 2 years) in a new company to be incorporated in France. This new company will acquire Pierre Fabre’s R&D Centre (including R&D site and R&D activities) at Saint Julien, France. This transaction will enable Jubilant Biosys to establish a center of excellence in Europe for Biologics and Antibody Drug Conjugate (ADC), opening up a total addressable market of $500 million. In addition, Pierre Fabre Laboratories may also hire services from Jubilant B…
Techno Electric and Engineering Company : The company has partnered with IndiGrid to collaboratively undertake the development of two of IndiGrid’s greenfield interstate transmission system (ISTS) projects. Under this partnership, Techno Electric will co-develop and invest in IndiGrid’s two ISTS projects, i.e., Ishanagar Power Transmission (IPTL) and Dhule Power Transmission (DPTL). Techno will invest minority capital and will also be responsible for the complete execution of the projects on a lump sum turnkey (LSTK) basis
Escorts Kubota : The company will explore various options for industrial land to set up a greenfield facility. In this regard, an investment intent has been submitted to the Government of Uttar Pradesh for the acquisition of land. The company has estimated direct and indirect investment of about Rs 4,500 crore plus to be done in phases, targeting an annual production revenue generation of over Rs 10,000 crore at full capacity. According to the company, there will be direct and indirect employment of more than 14,000 persons at full capacity.
Electronics Mart India : Promoters Karan Bajaj and Pavan Kumar Bajaj sold 3.9% stake each in the company at an average price of Rs 229.77 and Rs 229.75 per share, respectively. However, SBI Mutual Fund bought a 3.9% stake in Electronics Mart at an average price of Rs 229.75 per share, Norges Bank - Government Pension Fund Global purchased 1.75% shares at an average price of Rs 230.75 per share, and FTIF - Templeton Asian Smaller Companies Fund picked up a 0.83% stake at an average price of Rs 230.79 per share.
Welspun Corp : Magic-Square Hospitality Services LLP bought a 0.5% stake in the company at an average price of Rs 702.56 per share.
Stocks Under F&O Ban : Aarti Industries, Aditya Birla Fashion and Retail, Bandhan Bank, Biocon, Chambal Fertilisers and Chemicals, GNFC, Granules India, India Cements, IndiaMART InterMESH, LIC Housing Finance, Manappuram Finance, NMDC, Piramal Enterprises, Punjab National Bank, RBL Bank, SAIL, Sun TV Network
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