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
Edel Finance Company and Ecap Equities are likely to sell a 7.1% stake in Nuvama Wealth via block deals, reports CNBC-TV18, quoting sources. The floor price is expected to be Rs 6,800 per share, and the deal is likely to be valued at Rs 1,734 crore.
The pharma company has received approval from the United States Food and Drug Administration (USFDA) for Phytonadione Injectable Emulsion USP, 10 mg/mL single-dose ampules. The product is equivalent to the reference listed drug (RLD), Vitamin K1 Injectable Emulsion of Hospira Inc. It is used in coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity. The product had US sales of approximately $15 million for the 12 months ending September 2024.
Acme Solar has secured a 250 MW Firm & Dispatchable Renewable Energy (FDRE) project in the e-reverse auction held by NHPC, at a tariff of INR 4.56 per unit. This project includes a green-shoe option that could potentially expand its total capacity from the initial 250 MW to 500 MW. With this project, Acme Solar’s total capacity now stands at 6,970 MW.
The company's subsidiary, Reliance NU Suntech, has received a 930 MW solar energy contract with a battery energy storage system (BESS) project from the Solar Energy Corporation of India (SECI) in an e-reverse auction, at a tariff of Rs 3.53 per kWh. As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh, charged by solar power.
The Board of Directors has approved the offer-for-sale of certain equity shares of company's subsidiary, Greaves Electric Mobility (GEML), in the proposed IPO of GEML.
The company has entered into an agreement with GAIL (India) for the supply of RLNG gas for its upcoming pellet plant for 7 years.
Pilani Investment and Industries Corporation
The company has submitted an application to the Reserve Bank of India for converting the company from a non-banking financial company (NBFC) to a core investment company (CIC).
The Arbitral Tribunal in Singapore has passed an order in the arbitration between VarrocCorp Holding BV (jointly with Varroc Engineering) and Beste Motors Co (jointly with TYC Brother Industrial Co, TYC). The joint venture between Varroc and TYC (Varroc TYC Corporation) was also made a party to the arbitration proceedings. As per the order, VarrocCorp Holding BV (the company’s subsidiary) will transfer its 50% shareholding in Varroc TYC Corporation (and its JV subsidiaries) to Beste Motors Co for RMB 310.5 million within 45 days of the award. The company is assessing its legal options and, based on legal advice, will decide on the appropriate course of action.
OneSource is in the process of filing its Information Memorandum with the stock exchanges in December 2024 and expects to receive listing approval from the exchanges during Q4FY25. OneSource has allotted one equity share of Re 1 each to Strides’ shareholders for every two equity shares of Rs 10 held by Strides’ shareholders.
The bank has received an order from the Income Tax Department, stating that the amount refundable to the bank for AY 2013-14, including interest, is Rs 808.3 crore.
The Board will meet on December 16 to consider the fourth interim dividend on equity shares, if any, for the financial year 2024-25.
The company’s subsidiary, Waaree Forever Energies, has received a Letter of Award for the development of a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar (RUMSL).
The Board has approved the raising of funds up to Rs 2,500 crore through the issuance of equity shares in one or more qualified institutional placements.
The company has received board approval for the issuance of 5.17 crore equity shares at Rs 292 per share to the consortium lenders for settling part of their outstanding debts by way of preferential allotment on a private placement basis. The board has also approved the re-appointment of Shri Ramesh Kumar Sharma as Whole-time Director of the company with effect from February 7, 2025, for a term of 3 years.
The flagship company of the Shriram Group announced the completion of the sale of its entire 84.44% stake in housing finance subsidiary Shriram Housing Finance to Warburg Pincus for Rs 3,929 crore.
The Board has approved the issuance of non-convertible debentures (NCDs) worth Rs 2,000 crore on a private placement basis, in one or more tranches.
The Board has approved the enhancement of capital expenditure amounting to up to Rs 177 crore for the company’s brownfield project of electrolyte additives products at the Jhagadia facility.
Kothari Industrial Corporation
The Board has approved the issuance of 3.52 crore equity shares at an issue price of Rs 25 per share, amounting to Rs 88 crore, on a preferential basis, to promoters and non-promoters.
Bulk Deals
Promoter Akshay Sharad Pitti sold 0.76% stake in the company at an average price of Rs 1,405.64 per share, and another 0.48% stake at an average price of Rs 1,405.01 per share, valued at Rs 65.72 crore.
Block Deals
Ashoka Whiteoak ICAV, Union Mutual Fund, Axis Mutual Fund, Societe Generale, Nippon India MF, New York State Teachers Retirement System, India Acorn Fund, Invesco Mutual Fund, Societe Generale, UTI Mutual Fund, Whiteoak Capital Mutual Fund, Aditya Birla Sun Life Insurance, Canara Robeco Mutual Fund, Citigroup Global Markets Mauritius, Goldman Sachs Funds, GS India Equity, HSHK Asian Small Caps, Mediolanum Best Brands, and Morgan Stanley Asia Singapore bought a 12.15% stake in Awfis Space at an average price of Rs 709.9 per share, valued at Rs 605.65 crore. Peak XV Partners Investments V and Bisque were the sellers.
Saltoro Alpha LP bought a 0.3% stake in Valor at an average price of Rs 179.15 per share from Copthall Mauritius Investment, amounting to Rs 29.05 crore.
SME Listing on December 12
Emerald Tyre Manufacturers
Stock Trades Ex-Date for Rights
Avonmore Capital & Management Services
F&O Ban
Hindustan Copper, Granules India, Manappuram Finance, Metropolis Healthcare, PVR INOX, RBL Bank
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