Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins and fund raising, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
Adani Enterprises, Adani Green Energy
Adani group stocks may face selling pressure after the US prosecutors charged founder Gautam Adani in a $250 million (~Rs 2,100 crore) bribery scheme to secure renewable energy contracts in India. The indictment, filed in Brooklyn, New York, accuses Adani, along with others, of orchestrating an elaborate scheme involving false statements to US investors and violations of federal laws. In addition to the criminal charges, the SEC has filed a separate civil lawsuit. The allegations have already hit Adani group's bonds, with notes issued by Adani Green Energy in March falling by a record amount, while bonds from Adani Electricity Mumbai due in February 2030 dropping 8.6 cents on the dollar.
Gujarat Narmada Valley Fertilizers & Chemicals (GNFC)
The company has signed an MOU with INEOS Acetyls to explore the feasibility of building a new world-scale 600kt acetic acid plant at its site in Bharuch, Gujarat. INEOS Acetyls is a leading producer of acetic acid globally, and GNFC is the only current producer of acetic acid in India.
The technology services and consulting company announced a collaboration with Lineaje to help enterprises secure the open-source components within their software applications. Recently, Wipro’s corporate investment arm, Wipro Ventures, invested in Lineaje, a US-based software supply chain security company.
The online travel tech platform announced its partnership with BNZ Green to promote eco-friendly green travel and reduce the environmental impact of the tourism industry.
Nokia has been awarded a multi-year, multi-billion extension deal by Bharti Airtel to deploy 4G and 5G equipment across key Indian cities and states. As per the contract, Nokia will deploy equipment from its 5G AirScale portfolio, including base stations, baseband units, and the latest generation of Massive MIMO radios, all powered by its energy-efficient ReefShark System-on-Chip technology.
The real estate developer has acquired a 53-acre land parcel in Joka, Kolkata. The proposed project is estimated to have a development potential of 1.3 million square feet of saleable area, primarily consisting of residential plotted development, with an estimated revenue potential of Rs 500 crore.
Adani Infra (India), the PMC subsidiary of Adani Group, has signed definitive agreements to acquire up to a 30.07% stake in PSP Projects from the existing promoter, Prahladbhai S Patel, for Rs 685.4 crore. Currently, Prahladbhai S Patel and his family own a 60.14% stake in the company. Adani Infra has also announced an open offer to buy up to an additional 26% stake in PSP at a price of Rs 642.06 per share, for Rs 661.8 crore.
The company has entered into a strategic partnership with Druk Green Power Corporation (the sole generation utility of Bhutan) to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. The projects include 2,000 MW of hydro, 2,500 MW of pumped storage, and 500 MW of solar capacities.
The United States Food and Drug Administration (USFDA) completed a Good Manufacturing Practices (GMP) inspection at the company’s API manufacturing facility (CTO-2) in Bollaram, Hyderabad. The inspection was conducted from November 13 to 19. The US health regulator issued a Form 483 with seven observations.
The company has been declared the preferred bidder for Codli Mineral Block XII, located in Dharbandora, Goa, in an auction held on November 12. The projected iron ore resources stand at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps. Meanwhile, the company’s subsidiary, JSW Steel Italy Srl, signed a commercial agreement with Metinvest Adria S.p.A. As per the agreement, Metinvest is required to pay a release fee of euro 30 million to JSW Steel Italy Piombino SpA for the transaction.
The company’s subsidiary, Aegis Vopak Terminals, has filed a draft red herring prospectus with the capital markets regulator to raise Rs 3,500 crore via an initial public offering (IPO). It is an entirely fresh issue with no offer-for-sale component.
Garden Reach Shipbuilders & Engineers
The company has signed a contract worth Rs 226.2 crore with the Transport Department of the Government of West Bengal for the delivery of 13 hybrid ferries. These ferries will operate on the River Hooghly under the West Bengal Transport Infrastructure Development Corporation.
The company will invest up to Rs 3,720 crore, in one or more tranches, for various renewable projects and acquire a stake by subscribing to equity shares of NLC India Renewables, as part of its asset monetization plan. The renewable energy assets currently on NLC’s books were valued at Rs 6,263 crore as of September 2024.
The company has invested Rs 100 crore on a rights basis in Aditya Birla Capital Digital. Following this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.
Power Grid Corporation of India
The company has acquired Khavda V-A Power Transmission from the bid process coordinator, REC Power Development and Consultancy, for Rs 18.9 crore. Khavda V-A Power Transmission is the project Special Purpose Vehicle (SPV) formed to establish a transmission system for the evacuation of power from the potential renewable energy zone in the Khavda area of Gujarat on a build, own, operate, and transfer (BOOT) basis.
The company has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. November 29 has been fixed as the record date for determining the entitlement of shareholders for the interim dividend.
The company has raised Rs 7,500 crore via a Qualified Institutions Placement (QIP) issue. The board has approved the allotment of 13.27 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 565 per share.
Agricultural solutions provider UPL and global investment firm Alpha Wave Global have signed definitive agreements. As per the agreements, Alpha Wave Global will invest $350 million to acquire approximately a 12.5% stake in seed company Advanta Enterprises, a subsidiary of UPL. The transaction consists of a primary investment of $100 million and a secondary sale of $250 million worth of shares in Advanta by UPL. Meanwhile, the company's board has approved raising funds worth Rs 3,377.74 crore via a rights issue at a price of Rs 360 per share, with the record date fixed as November 26.
The transport infrastructure consultancy has signed a Memorandum of Understanding (MoU) with the National Institute of Solar Energy (NISE) to collaborate on quality assurance (QA) services for solar and renewable energy projects.
The Board will meet on November 25 to consider a proposal for fund-raising via a debt issue in the form of debentures.
The textile and garment manufacturing company has announced the acquisition of the children's wear brand Gini & Jony. Suditi plans to transform Gini & Jony into a dominant player in the kidswear market through an omni-channel strategy, including exclusive brand outlets (EBOs), large format stores (LFS), and e-commerce platforms.
The company has entered into a share purchase agreement for the acquisition of Monga Strayfield, an engineering company that manufactures radio frequency dryers and heating solutions, for Rs 123 crore.
The company has received full consideration of Rs 41 crore for the sale of its Faridabad facility.
HDFC Mutual Fund acquired a 0.26% stake in the company via open market transactions on November 14, raising its total stake to 5.15%, up from 4.89% previously.
The company has incorporated a joint venture, Sievert 20 Microns Building Materials, to engage in the production of construction chemicals and building material-related products.
The company has received approval from the National Company Law Tribunal (NCLT) for the creation of OneSource, India’s first specialty pharma Contract Development and Manufacturing Organization (CDMO). This integration is backed by an equity commitment of Rs 801 crore ($95 million) from a group of investors, valuing the company at a pre-money equity valuation of $1.65 billion, and positions OneSource for robust growth. OneSource is now set to list its equity shares on the BSE and NSE. Strides' shareholders will be allotted one equity share of OneSource for every two equity shares held in Strides, as per the Scheme of Arrangement.
Bulk Deals
Shree Tirupati Balajee Agro Trading Company
The company bought an additional 0.09% stake in itself at a price of Rs 800.21 per share, amounting to Rs 5.84 crore.
Block Deals
Investor Siddhartha Yog bought an additional 0.37% stake in Trent from Dodona Holdings at an average price of Rs 6,475 per share, valued at Rs 843.15 crore. With this acquisition, Siddhartha Yog has accumulated a total of 2.7% stake in the company from Dodona Holdings since the beginning of October.
SME Listing on November 21
Mangal Compusolution
Stocks Trade Ex-Dividend
GMM Pfaudler, Nexus Select Trust
Stock Trades Ex-Date for Resolution Plan-Suspension
Autopal Industries
F&O Ban
Aarti Industries, Aditya Birla Fashion & Retail, GNFC, Granules India, Hindustan Copper, Indraprastha Gas
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