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
Vodafone Group Plc has announced its plan to sell the remaining 3 percent stake in Indus Towers, or 7.92 crore shares, and use the funds for the repayment of $101 million in settling outstanding dues. According to CNBC-TV18 sources, Vodafone Group Plc's units Omega Telecom Holding & Usha Martin Telematics are likely to sell the said stake in Indus Towers, with the offer size ranging between Rs 2,716.9 crore and Rs 2,835.8 crore at the offer price of Rs 343-358 per share. Meanwhile, Indus Towers has released the pledge on 3.003% of shares held by Vodafone promoters in the company on December 4, to enable the relevant Vodafone promoters to execute the sale of such shares.
The company has opened its qualified institutions placement (QIP) issue on December 4. The board has approved the floor price at Rs 705.18 per share. According to CNBC-TV18 sources, the QIP size may be up to Rs 1,500 crore. The issue proceeds will be used for working capital requirements, repaying debt, and general corporate purposes.
The Pune-based forging company has announced the launch of a qualified institutions placement (QIP) book on December 4. The board has set a floor price at Rs 1,323.54 per share. According to CNBC-TV18 sources, the issue size may be up to Rs 1,650 crore.
The board will be meeting on December 10 to consider the issue of bonus shares to the equity shareholders.
The pharma company has entered into an agreement to acquire three anti-diabetes brands: Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The acquisition is expected to be completed in March 2025. Torrent has been marketing these brands since 2022 as part of an existing co-marketing agreement with Boehringer Ingelheim India.
The company has received an offer letter for a mega project from the Maharashtra government to set up a new project for the manufacturing of solar PV panels (1,800 MW) in Raigad. The company has decided on a fixed capital investment of Rs 1,080 crore for the project.
The company has completed the acquisition of a 15% stake in E2E Networks via preferential allotment. The secondary acquisition of 6% from the promoter of E2E Networks is expected to be completed on or before May 30, 2025.
Arun Agarwal has resigned as Global Chief Financial Officer of the company, effective December 3.
The company has received an order worth Rs 108.9 crore from Bihar Renewable Energy Development Agency. The work order involves the design, supply, and installation of remote monitoring systems for the smart solar street light system on identified existing electric poles under the Mukhyamantri Gramin Solar Street Light Yojana in Bihar state on an EPC basis.
Under the industrial promotion policies of the state governments, the company has been partly reimbursed Rs 80.45 crore against the payment of State Goods and Services Tax (SGST) paid by the company.
The company has reported a 0.05% increase in total sales for November, with 1,885 units sold, up from 1,884 units sold in the same month last year. Domestic sales grew by 12.4% to 1,736 units, but exports fell by 56% to 149 units during the same period.
The two-wheeler major has launched three variants of the V2 series of electric scooters - VIDA V2 – PRO, PLUS, and LITE, with the starting price at Rs 96,000.
The company has issued a clarification on a media report related to three additional submarines of the Scorpene class under project 75. It said that, in this connection, commercial negotiations regarding the project are in process, and it has yet to receive any final communication in this regard.
The company's subsidiary, Iconic Property Developers, has purchased, through a Conveyance Deed, a vacant parcel of land (1,464 square meters) in Mahim, Mumbai, for Rs 101 crore. The entire amount, along with stamp duty and registration charges, has been fully paid. The company will develop a commercial building with an expected gross development value of Rs 525 crore.
The National Company Law Tribunal (NCLT) has approved the merger of HT Mobile Solutions with the company.
The board has approved the issuance of one bonus share for every one share held by the eligible equity shareholders of the company as of the record date.
Rama Narahai Naidu Dodda has resigned as Chief Financial Officer of the company, effective December 10, as he wants to pursue career opportunities outside the company.
The Kerala-based microfinance institution has reduced lending rates by 25 basis points for income-generating loans and by 125 basis points for third-party product loans.
Block Deals
Saltoro Alpha LP bought a 0.33% stake in the company at an average price of Rs 591.5 per share, from Copthall Mauritius Investment.
SBI Mutual Fund bought a 1.07% stake in Ratnamani Metals at an average price of Rs 3,335 per share, amounting to Rs 251.8 crore, and Tata Mutual Fund purchased 0.04% of shares at the same price, valued at Rs 10 crore. However, Nalanda India Fund sold a 1.1% stake in the company at the same price, valued at Rs 261.8 crore.
SME Listings on December 5
Agarwal Toughened Glass India
Stock Trades Ex-Date for Rights
Ace Software Exports
F&O Ban
Granules India, Manappuram Finance, RBL Bank
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