Stock to Watch Today - Rupeedesk Reports - 24.02.2025
Stock to Watch Today - Rupeedesk Reports
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks : Zomato, Jio Financial, Lupin, RVNL, Ujjivan SFB, Granules India, Vedanta, Paisalo Digital in focus on 24 February.
Zomato, Jio Financial Services : Zomato and Jio Financial Services will replace Britannia Industries and Bharat Petroleum Corporation in the Nifty 50, effective March 28. Further, Bajaj Housing Finance, Bharat Petroleum Corporation, Britannia Industries, CG Power and Industrial Solutions, Hyundai Motor India, Indian Hotels Company, and Swiggy will replace Adani Total Gas, Bharat Heavy Electricals, Indian Railway Catering and Tourism Corporation (IRCTC), Jio Financial Services, NHPC, Union Bank of India, and Zomato in the Nifty Next 50 index.
Bharti Airtel ; The Special Committee of Directors has approved an increase in Bharti Airtel’s shareholding in its UK-based subsidiary, Airtel Africa plc, by acquiring up to a 5% stake in one or more tranches during FY25, through Airtel Africa Mauritius. Airtel Africa Mauritius, a step-down subsidiary of Bharti Airtel, currently holds 57.29% of Airtel Africa plc.
Coal India : Coal India has executed a non-binding shareholders' agreement (SHA) term sheet with EDF India to form a joint venture to undertake PSP projects, along with other renewable energy projects in India and neighbouring countries. EDF India is a wholly-owned subsidiary of Électricité de France SA.
Crompton Greaves Consumer Electricals : The company has appointed Tanmay Prusty as Chief Marketing Officer, designated as Senior Management Personnel, effective February 24.
Zaggle Prepaid Ocean Services : Zaggle has signed a customer service agreement with Indus Towers to provide Zaggle Save (employee expense management & benefits).
Jagsonpal Pharmaceuticals : The company has signed a Business Transfer Agreement to acquire the India business of Resilient Cosme-Ceuticals, along with the brands and associated trademarks, for Rs 24 crore. Additionally, the company received a warning letter dated February 5 from the US Food and Drug Administration (USFDA) related to observations during the inspection of its contract manufacturing facility.
Adani Green Energy : The company’s step-down subsidiary, Adani Green Energy Twenty Four (AGE24L), has operationalized a solar power project of 250 MW at Bhimsar & Dwada, Jaisalmer, Rajasthan. With the commissioning of this plant, Adani Green Energy’s total operational renewable generation capacity has increased to 11,916.1 MW.
Lupin : The global pharma major has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (US FDA) for its manufacturing facility in Somerset, New Jersey. The US FDA conducted the inspection of the Somerset facility from January 27 to January 31, 2025.
Rail Vikas Nigam : The company has emerged as the lowest bidder for a project worth Rs 156.35 crore from South Western Railway. The project involves engineering, procurement, and construction (EPC) for the design, supply, erection, testing, and commissioning of a 2x25 KV OHE & PSI system between Rayadurga (excluding) and Pavagada (including) of the TK-RDG section.
Ujjivan Small Finance Bank : The Board has approved a proposal for the sale of NPA and written-off loans to an asset reconstruction company. The bank is going to sell a micro banking pool worth Rs 364.51 crore (Rs 294.51 crore NPA and Rs 70 crore technically written off). The bank carries an overall provision of 66.51% on the micro banking pool.
Paisalo Digital : The company has decided to withdraw its proposed preferential issue of 3,37,86,756 convertible equity warrants, primarily due to market volatility and a significant decline in the market price of its shares.
Bajaj Auto : The Board has approved the company’s plan to invest funds up to 150 million euros in its subsidiary Bajaj Auto International Holdings BV, Netherlands. This investment will be made either in the form of equity capital, preference capital, or loan in one or more tranches.
Granules India : The Board has approved the acquisition of a 100% equity stake in Switzerland-based Senn Chemicals AG for Rs 192.5 crore, and also approved the incorporation of a wholly owned subsidiary in India for this acquisition. Senn develops and manufactures peptides and peptide-based applications for its global customers, providing contract research, development, and manufacturing services.
Allcargo Logistics : The company stated that LCL (less-than-container load) volume in January grew by 4% YoY and 1% MoM to 741,000 cubic meters due to the early Lunar New Year. However, it is expected to soften a bit in the near term. The FCL (full-container load) volume increased by 6% YoY to 54,403 TEUs in January, but was down 9% compared to the previous month.
RailTel Corporation of India : The company has received a work order from East Central Railway for works amounting to Rs 288.15 crore.
Swiggy : The Board has approved the company’s investment of up to Rs 1,000 crore via a rights issue in Scootsy Logistics in one or more tranches. Scootsy Logistics is a subsidiary of Swiggy. These funds will be used for working capital and other capital expenditures.
Ami Organics : The Board has approved the sub-division or split of the company’s existing 1 equity share with a face value of Rs 10 each into 2 equity shares with a face value of Rs 5 each.
SRF : The company has commissioned the remaining part of the fluorocarbon refrigerant gas capacity expansion project at Dahej on February 21, at an aggregate cost of Rs 361 crore. In July 2021, the board had approved a project for expanding fluorocarbon refrigerant gas capacity, with backward integration into a key raw material at Dahej. A part of the project was commissioned and capitalized in December 2023, at an aggregate cost of Rs 317 crore.
Vedanta : The company has been declared the preferred bidder for the Kauhari Diamond block, with the highest final price offer of 1.10%. The Kauhari Diamond Block is at the G4 level of exploration, with a total area of 643.4169 hectares for the block.
Brigade Enterprises : Brigade Group is proposed to invest Rs 1,500 crore in Kerala, potentially providing employment for around 12,000 people over the next five years. It proposes to set up its second World Trade Center (WTC) in Kerala, with the first being WTC Kochi. In addition, Brigade is looking to expand its footprint in Kerala with a residential project in Kochi and a luxury island resort at Vaikom. These projects are expected to be completed by 2030.
Direct-to-home Stocks : In a relief for DTH companies, India’s telecom regulator TRAI recommended reducing the authorization fee for direct-to-home (DTH) services from 8% to 3% of adjusted gross revenue (AGR), with plans to eliminate this fee entirely after the fiscal year 2026-27.
Alkem Laboratories : SBI Mutual Fund has bought a 0.5% stake in the pharma company at an average price of Rs 4,680 per share, from the Samprada & Nanhamati Singh Family Trust, valued at Rs 300.32 crore.
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