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
The Securities and Exchange Board of India (SEBI) has issued an administrative warning letter to the bank, alleging non-compliance with certain provisions of the SEBI Listing Regulations concerning the resignation of Arvind Kapil, a senior management employee of the bank.
The Abu Dhabi Investment Authority (ADIA) is likely to sell a 9.2% stake in the REIT, worth Rs 1,903 crore, via block deals, according to CNBC-TV18 sources. The floor price for the deal is expected to be Rs 350 per share.
The company has opened its Qualified Institutions Placement (QIP) on December 16. The floor price has been fixed at Rs 2,206.49 per share. Sources told CNBC-TV18 that the issue size is likely to be Rs 750 crore, with an upsize option. The funds will be used to repay outstanding borrowings, meet working capital requirements, and for general corporate purposes.
RVNL has received a Letter of Acceptance for the construction of elevated metro stations from Maharashtra Metro Rail Corporation. The project cost is Rs 270 crore.
The company has received an order for the construction of transmission lines on a turnkey basis, valued at Rs 187.41 crore from Chhattisgarh State Power Transmission Co. The project will be executed over a period of 15 months.
The company has secured a new order worth Rs 105.40 crore from Prestige Estates Projects for the supply of tiles, marble, and mosaic. Additionally, based on current ongoing projects, the company anticipates receiving orders worth Rs 104 crore from Prestige Estates Projects in the near future.
The company has acquired a 39.93% stake in Lunarmech Technologies, making Lunarmech a wholly-owned subsidiary of Varun Beverages.
The Board has approved the fourth interim dividend of Rs 8.5 per equity share for the financial year 2024-25, amounting to Rs 3,324 crore.
Sridhar Kadangode has resigned as Chief Financial Officer of the company, effective February 26, 2025, to pursue opportunities outside the company.
Hindustan Construction Company
The construction company has opened its Qualified Institutions Placement (QIP) on December 16, with a floor price of Rs 45.27 per share. According to CNBC-TV18 sources, the base issue size is expected to be Rs 400 crore, with an option to scale it up to Rs 600 crore.
The Board will meet on December 23 to consider raising funds through various methods, including a preferential issue.
The Income Tax Appellate Tribunal (ITAT) has pronounced an order in favour of the company regarding the denial of depreciation on assets received under merger, disallowance of provision for expenses, amortization of ARO, provision for SLA credit, etc. This will result in a reduction of Rs 3,500 crore in contingent liabilities.
Pramod Nair has resigned as Chief Financial Officer of the company, effective January 10, 2025, to pursue opportunities outside the company.
The company has received a work order worth Rs 37.99 crore from Central Warehousing Corporation.
The company, through its subsidiaries, has signed a definitive agreement to acquire 100% shareholding in Applied Value Technologies Inc and its affiliates, Applied Value Technologies BV and Applied Value Technologies Pte, for $40 million.
The Board has approved the appointment of Jasraj Singh as Chief Operating Officer (COO) of the company, effective December 16.
Life Insurance Corporation of India has bought a 0.03% stake in SRF via an open market transaction on December 13, increasing its shareholding to 5%, up from 4.97% earlier.
Hindustan Petroleum Corporation
The Board has approved the company's lube modernization and bottoms upgradation project at the Mumbai refinery. This project will increase the lube oil base stock (LOBS) production from the current 475 KTPA to 764 KTPA. Additionally, there will be an increase in Bitumen production by approximately 487 KTPA, with the upgradation of fuel oil to bitumen. The estimated cost of this project is Rs 4,679 crore.
The passenger traffic in November increased by 14% YoY to 1.12 crore, with domestic passenger traffic up 14.3% and international passenger traffic up 11.3%. Aircraft movements during the month rose by 8% YoY to 69,540.
Container freight station (CFS) volumes in November fell by 4% compared to the year-ago period, but rose by 1% compared to the previous month.
The company's units, Nanglamal Sugar Complex and Mawana Sugar Works in UP, have received notices from the Anti-Corruption Branch, Government of National Capital Territory of Delhi, seeking information regarding transactions conducted by an agent of the company in the purchase of sugar.
The company's subsidiary, Care Health Insurance, has received a letter of advice and a show-cause notice from the Insurance Regulatory and Development Authority of India (IRDAI) based on an inspection carried out during August 30 and September 9, 2021. Care Health is in the process of initiating corrective actions as advised and preparing a reply to the show-cause notice.
SME Listing on December 17
Jungle Camps India, Toss The Coin
Bulk Deals
Leading Light Fund VCC The Triumph Fund acquired a 2% stake in the real estate developer at an average price of Rs 22.5 per share. However, promoter Neha Jain sold a 0.91% stake at the same price.
Leading Light Fund VCC The Triumph Fund bought a 0.89% stake in Euro Panel at an average price of Rs 188.81 per share. However, Chetan Rasiklal Shah sold the same number of shares at a price of Rs 188.75 per share.
Kuber Investments acquired half a percent stake in Forcas at an average price of Rs 85.18 per share, while Lotus Value Fund sold the same number of shares at a price of Rs 85.02 per share.
Stock Trades Ex-Dividend
Styrenix Performance Materials
Stock Trades Ex-Date for Split
Shish Industries
F&O Ban
Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, RBL Bank, SAIL
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