Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
Bisque, Link Investment Trust, and Peak XV Partners are likely to sell a 12.2% stake in Awfis Space via block deals, as reported by CNBC-TV18 citing sources. The floor price for the deal is expected to be Rs 680 per share, with the deal size estimated at Rs 583.4 crore.
Indian Overseas Bank (IOB)
The bank has received an order from the Income Tax Department stating that the amount refundable to the bank for the Assessment Year 2015-16, including interest, is Rs 1,359.29 crore.
The company has received a letter of acceptance from the Ministry of Road Transport and Highways (MORTH) for a project worth Rs 763.1 crore. The project involves the improvement and upgradation of a two-lane road with paved shoulders configuration for the newly declared NH227B, Bahuvan Madar Majha to Jagarnathpur, in Uttar Pradesh under Hybrid Annuity Mode (Package VI).
The technology consulting and digital solutions company has announced a strategic partnership with GitHub, the widely adopted Copilot-powered developer platform. This partnership aims to drive scalable enterprise innovation and transform software development with advanced AI capabilities.
The company has received a Letter of Business Award (LoBA) from Mahindra & Mahindra for the supply of EV panels, including a three-year guarantee/warranty. The total order value is approximately Rs 250 crore over five years, ending in 2029.
The company has entered into a joint venture agreement with Shudh Investments and Klyn Stone of the UK to acquire shares of Klyn AGL. Klyn AGL is a joint venture company incorporated in England and Wales for the trading business of large porcelain slabs, various types of tiles, and quartz products.
Life Insurance Corporation of India (LIC) has increased its stake in the company to 7.010% from 5%. LIC purchased an additional 2.009% stake through open market transactions between January 1 and December 9.
The company has launched LightLife, a weight management program designed to align with modern lifestyles.
NTPC Renewable Energy, a subsidiary of the company, has secured 500 MW of solar power capacity at a tariff of Rs 3.52 per kWh. This includes setting up an Energy Storage System (ESS) of 250 MW/1000 MWh along with the contracted solar capacity.
The Directorate General of GST Intelligence (DGGI) conducted a search at the premises of the company's unit, Treehouse Hotel Club and Spa, Bhiwadi, on December 6. In response, the company made an interim payment of Rs 1.5 crore for a tax review. The DGGI observed that GST liability was calculated incorrectly due to an error in applying the GST rate on food and beverage billing from the restaurant.
The Reserve Bank of India has approved the reappointment of Banavar Anantharamaiah Prabhakar as part-time Chairman of Ujjivan Small Finance Bank for three years, effective November 23, 2024.
The company has signed a share purchase agreement with SPR Engenious to sell its 30% stake in TGPEL Precision Engineering for Rs 66 crore. SPR Engenious is a subsidiary of Shriram Pistons & Rings.
The Board of HGS CX Technologies Inc, a wholly owned subsidiary of Hinduja Global Solutions, has approved the merger of its five wholly owned US subsidiaries into itself. These subsidiaries include Hinduja Global Solutions LLC, HGS Digital LLC, HGS (USA) LLC, HGS Canada Holdings LLC, and Teklink International LLC.
The company has received a GST notice with a penalty order of Rs 64.5 crore from the Commissioner of GST and Central Excise, Belagavi division. This pertains to the non-payment of GST under the Reverse Charge Mechanism for upfront and monthly payments made to the government for mining rights between July 2017 and July 2019 in Karnataka. JSW Steel plans to challenge the penalty demand.
The company's subsidiary, Reliance Velocity, has incorporated a new entity, Reliance EV Go. The subsidiary aims to manufacture, buy, sell, and deal in electric vehicles.
Bulk Deals
Promoter Biocon sold a 1.98% stake in Syngene at an average price of Rs 857.68 per share, valued at Rs 686.14 crore.
Wisdomtree India Earnings Fund purchased a 0.58% stake in the company at an average price of Rs 87.9 per share, amounting to Rs 25.7 crore.
Delta Capital Investment-FZCO acquired a 0.88% stake in the company at an average price of Rs 190 per share, valued at Rs 19.25 crore.
Promoter Manish Grover sold a 2.3% stake in the company at an average price of Rs 2,314.11 per share, valued at Rs 132.7 crore. Meanwhile, Sixteenth Street Asian Gems Fund acquired an additional 2.01% stake in the company at an average price of Rs 2,313 per share, amounting to Rs 115.6 crore.
Khattri Perfumers purchased a 2.13% stake in the company at an average price of Rs 166.63 per share, valued at Rs 10.57 crore. Meanwhile, Sattva Real Estate and Sattva Developers exited the company, selling their entire 2.13% stake for Rs 10.57 crore.
Wisdomtree India Ex-State Owned Enterprises Fund acquired a 0.69% stake in the company at an average price of Rs 730.87 per share, valued at Rs 16.84 crore.
Wisdomtree India Investment Portfolio Inc sold a 0.51% stake in the company at an average price of Rs 182.55 per share, amounting to Rs 6.53 crore.
Wisdomtree India Earnings Fund acquired a 0.5% stake in the company at an average price of Rs 38.16 per share, valued at Rs 21.06 crore.
SME Listing on December 11
Nisus Finance Services Co
Stock Trades Ex-Date for Rights
Quasar India
F&O Ban
Metropolis Healthcare, Granules India, Manappuram Finance, PVR INOX, RBL Bank
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