Stock to Watch Today - Rupeedesk Reports - 16.06.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: IKIO Lighting, BHEL, TVS Motor, Pitti Engg, Natco Pharma & others in focus.
IKIO Lighting: The LED maker’s maiden public issue was subscribed 66.30 times during June 6-8 with qualified institutional buyers' reserved portion being booked 163.58 times, high networth individuals 63.35 times, and retail 13.86 times. The issue is trading with a premium of 32 percent in the grey market.
TVS Motor Company: Company has sold its entire stake in Emerald Haven Realty Limited for a consideration of Rs 166.83 crore. The automaker held 43.54 percent stake in Emerald Heaven Realty. – The buyer is TVS Holdings Private Limited, a part of the promoter/ promoter group. Thai makes it a related party transaction.
Wipro: The company announced the opening of its new 5G-Def-i Innovation Center in Austin, Texas, underscoring the company’s commitment to helping clients realise the benefits of 5G technology through safer, more sustainable, and compliant products and services. The Center will leverage Wipro’s 5G Def-i platform and provide fully integrated offerings for 24X7 product qualification, compliance, pre-certification, and interoperability testing with industry accreditation.
Bharat Heavy Electricals: BHEL and Volvo Eicher Commercial Vehicles Limited (VECVL) signed an MoU for taking up a “Joint project for development & deployment of Type – IV Cylinders (Hydrogen / CNG) in Commercial Vehicle Segment”.
Torrent Pharmaceuticals: The US Food and Drug Administration has issued Establishment Inspection Report for company's oral-oncology manufacturing facility at Bileshwarpura in Gujarat. The inspection of said facility has now been successfully closed by the USFDA.
Balaji Telefilms: Abhishek Kumar, the chief executive officer of the company, tendered his resignation from his position (designated as the Group Chief Executive Officer) with effect from closing of business hours on June 15, 2023, due to personal reasons. Balaji Telefilms did not immediately announce a replacement.
Persistent Systems: The IT services company has launched its newly established private equity value creation hub in Texas. The center will expand the company’s onshore footprint and strengthen its presence in the rapidly evolving private equity market by providing expertise across the full asset lifecycle for global private equity firms and their portfolio companies.
HCL Technologies: The technology company has expanded collaboration with Microsoft to boost innovation and adoption of generative AI with Microsoft's Azure OpenAI Service.
NLC India: The public sector undertaking has incorporated a wholly owned subsidiary company NLC India Renewables to take over its existing renewable assets.
Power Finance Corporation: The company has incorporated a special purpose vehicle – Tirwa Transmission Limited – for development of construction of Tirwa substation with associated lines. The SPV will be placed under PFC Consulting Limited, which is a wholly owned subsidiary of Power Finance Corporation.
Pitti Engineering: The company announced a transaction that merges the supply chain, margins and revenue of group company Pitti Castings Private Limited (PCPL) which is engaged in the manufacturing of High-Quality Casting in Grey Iron, Ductile Iron, Low Carbon and Alloy Steel Grades. Pitti Engineering Limited will issue and allot 1 equity share to the shareholders of Pitti Castings Private Limited for every 55 equity shares held by them in PCPL. The consolidation is expected to be completed in the next 12-14 months, on receipt of stock exchange and NCLT approvals.
Ramkrishna Forgings, Titagarh Wagons: A consortium between Ramkrishna Forgings and Titagarh Rail Systems has received the contract to manufacture and supply 15.4 lakh forged wheels over a span of 20 years, under the AatmaNirbhar Bharat Initiative by Ministry of Railways. The contract will see the consortium delivering 40,000 forged wheels during the first year, 60,000 wheels in the second year and 80,000 wheels every subsequent year thereafter, with the total contract valued at Rs 12,226.5 crore.
GAIL India: Sanjay Kumar has assumed charge as Director (Marketing) of the state-owned natural gas company. Earlier, Kumar was the Managing Director of Indraprastha Gas.
MIC Electronics: The Company has received Letter of Acceptance from Salem Railway Division of Southern Railway Zone for providing of Passenger Information System in connection with Amrit Bharat Scheme in Chinna Salem, Namakkal, Karur, Erode stations and CAMC for a period of five years of Salem Division. The aggregate value of the said Work-Order is Rs 5.67 crore.
Natco Pharma: The company announced successful closure of inspection and received Establishment Inspection Report (EIR) from the U.S. Food and Drug Administration (USFDA) for its drug formulations manufacturing facility at Visakhapatnam (Vizag), Andhra Pradesh, India, for an inspection conducted during the period from 30th January to 3rd February 2023.
Capacite Infraprojects: Newquest Asia Investments II Limited exited the EPC company by selling remaining 17.21 lakh shares at an average price of Rs 200 per share. However, Societe Generale was the buyer for shares in the company for second consecutive session, acquiring additional 11 lakh shares in Capacite at same price, in addition to 24.17 lakh shares buying on June 13.
Samvardhana Motherson: Samvardhana Motherson Automotive Systems Group BV, a step-down subsidiary of Samvardhana Motherson International Limited, through one of its European subsidiaries, has signed a binding undertaking to acquire a 100 percent stake in CIRMA ENTREPRISE from Vinci Energies France. The value of the deal is Value of 7.2 million euros.
Arihant Capital Markets: The company's Board of Directors, at its meeting held on 15th June, 2023, has inter alia approved raising of funds through issuance of secured unlisted Non-Convertible Debentures (NC!Js) upto Rs 100 crore in one or more tranches / series, on a private placement basis. It will offer an interest of 9-10 percent per annum on the paper.
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