Monday, September 9, 2024

Stock to Watch Today - Rupeedesk Reports - 09.09.2024

Stock to Watch Today - Rupeedesk Reports - 09.09.2024


Stock to Watch Today - Rupeedesk Reports 
Stock to Watch Today - Rupeedesk Reports - 09.09.2024
Stock to Watch Today - Rupeedesk Reports 

Buzzing Stocks : Suzlon Energy, SpiceJet, Ola Electric, Mazagon Dock, Gala Precision Engg in focus on Monday.

Suzlon Energy : Suzlon Energy acquires 51 percent of the equity share capital of Renom. With the said acquisition, Renom has now become a subsidiary of the company.

RBM Infracon : RBM Infracon bagged order worth Rs 3,498 crore including Rs 3,371 crore for crude and Rs 127 crore for gas at Nandej from Oil & Natural Gas Corporation.

Mazagon Dock Shipbuilders : Mazagon Dock received order worth Rs 1,486 crore from Oil & Natural Gas Corporation. The order is for a subsea pipeline replacement project on an engineering, procurement and construction (EPC) reimbursable basis.

SpiceJet : SpiceJet to issue shares to Carlyle Aviation to convert dues into equity. Carlyle Aviation to purchase SpiceJet shares to settle a part of its dues worth $137.68 million. Restructuring deal with Carlyle Aviation to cut SpiceJet's dues from $137.68 million to $97.51 million. With this, SpiceJet will convert Carlyle Aviation's dues worth $40 million into equity.

Godfrey Phillips : Bina Modi has been reappointed as MD of Godfrey Phillips, with nearly 87 percent of shareholders voting in favour of her reappointment. The Delhi High Court had allowed Bina Modi to vote in the AGM on behalf of the 48 percent shareholding of KK Modi family trust.

Granules India : Granules India announced the completion of the US Food and Drug Administration (USFDA) inspection at its Gagillapur facility in Hyderabad, Telangana. The inspection, conducted from 26th August to 6th September 2024, concluded with six observations. The company further stated that it is committed to addressing the observations promptly and will submit its response to the USFDA within the stipulated timeframe.

Suven Pharma : The US Food & Drug Administration (US FDA) has classified Suven Pharma subsidiary--Casper Pharma's formulations manufacturing facility at Hyderabad as 'Voluntary Action Indicated' (VAI). With this, the drug regulator has also closed its inspection of the said facility.

Deep Industries : The company has won an order valued at Rs 1,402 crore from Oil and Natural Gas Corporation (ONGC). The contract is for production enhancement operations in the mature fields of ONGC's Rajahmundry asset and spans a duration of 15 years. This is the largest project awarded to the company to date, more than doubling its current order book. As on June 30, 2024, the company’s order book stood at Rs 1,246 crore.

Zydus Lifesciences : The drugmaker has been issued a GST demand order of Rs 16.76 crore by the  Central Goods and Service Tax, Goa Commissionerate. The demand is raised in respect of allegedly availing ineligible ITC without proof of actual receipt of services from FY 2017-18 to 2019-20. The company said that it intends to challenge the order by filing an appeal against the said order. There is no material impact on financial or other operations, the company added.

Ami Organics : The company announced the completion of good manufacturing practices (GMP) inspection by the Pharmaceutical and Medical Devices Agency Japan for the company's manufacturing facility unit at Surat. The result declared the said facility as GMP compliant.

Ola Electric Mobility : The one-month share lock-in period for Ola Electric's shareholders will end on Monday. September 9 will mark one month since Ola Electric's listing on the bourses. Once the one-month shareholder lock-in period ends on Monday, around 18.18 crore shares, representing 4 percent of the company's outstanding equity, will become eligible for trading, as highlighted in a note by Nuvama Alternative and Quantitative Research. However, it's important to clarify that the end of the lock-in period doesn't imply all these shares will necessarily be sold, they will simply be eligible for trading.

VST Industries : Derive Trading & Resorts Private Limited sold 1.29 lakh shares or a 0.81 percent stake in VST Industries for an average price of Rs 480.57 via a bulk deal on September 6. And SBI Mutual Fund sold 4.47 lakh shares or a 2.89 percent stake in VST Industries for an average price of Rs 485.35.

Indigo Paints : Morgan Stanley Asia (Singapore) Pte bought 3.08 lakh shares in Indigo Paint for an average price of Rs 1491.88. While HDFC Mutual Fund bought 10.03 lakh shares in Indigo Paints for an average price of Rs 1470. Mercer QIF Fund PLC-Mercer Investments bought 3.19 lakh shares in Indigo Paints for an average price of Rs 1475.51. On the sellers side, Peak XV Partners Investments IV sold 50.51 lakh shares in Indigo Paints for an average price of Rs 1475.96.

Metro Brands India : Kotak Mahindra Mutual Fund bought 39.74 lakh shares in Metro Brands for an average price of Rs 1260.

Shriram Piston & Rings : DSP Mutual Fund bought 4.41 lakh shares or a 1 percent stake in Shriram Pistons & Rings for an average price of Rs 2197.60. While Theleme Master Fund bought a 1.1 percent stake in the company.

Hinduja Global : Aviator Global Investment Fund sold 4.7 lakh shares or a 1.01 percent stake in Hinduja Global Solutions for an average price of Rs 881.90.

F&O Ban : Biocon, Chambal Fertilisers and Chemicals, Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper, RBL Bank.

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