Here’s a quick look at stocks likely to be in focus in Thursday's trade, covering fundraising, acquisitions, bulk deals, and quarterly results announced by companies after market hours on Wednesday:
Stocks To Watch
The food delivery giant will acquire Paytm's entertainment ticketing business for Rs 2,048 crore. The transaction includes a transition services agreement, allowing the ticketing business to continue operating on the Paytm app for up to 12 months to ensure a smooth transition. As part of the deal, 280 employees will move to Zomato.
Paytm announced that its Board of Directors has opted for a reduced salary under a 'revised remuneration structure.' The proposed revision, subject to shareholder approval, will reduce the annual salaries of Non-Executive Independent Directors from Rs 1.65-2.07 crore to a capped amount of Rs 48 lakh, with a fixed component of Rs 20 lakh, effective April 1, 2024. The variable component will be linked to attendance at meetings and roles in various committees.
SES ESG Research has assigned an ESG Score (Adjusted) of 78.8 (Grade B+) to Tata Motors based on data pertaining to FY24.
The company has opened its Qualified Institutions Placement (QIP) on August 21, setting the floor price at Rs 1,685.18 per share. According to CNBC-TV18 sources, the QIP issue size may be around Rs 800 crore, with the potential to scale up to Rs 1,000 crore.
The global engineering and R&D firm has collaborated with Thales to offer innovative business models to customers. Under this strategic collaboration, L&T Technology will use the Thales Sentinel platform to help customers monetize their software with flexible licensing options.
Paras Defence and Space Technologies
The Department for Promotion of Industry & Internal Trade (DPIIT) has granted an industrial license to the company to establish an industrial undertaking for manufacturing several items, including infrared or thermal imaging equipment, electro-optics systems, sub-systems and platform of radar systems, modules and control assemblies, opto-electronic assemblies, and border security surveillance systems in Navi Mumbai, Maharashtra.
A promoter is likely to sell a 0.7% stake in the pharma company through block deals, according to CNBC-TV18 sources. The floor price is likely to be set at Rs 5,616 per share.
The company announced that its board of directors will meet on August 24 to consider issuing non-convertible debentures of up to Rs 50 crore on a private placement basis.
Indian Renewable Energy Development Agency
The Board of Directors will meet on August 29 to consider raising up to Rs 4,500 crore in one or more tranches through a further public offer (FPO), Qualified Institutional Placement (QIP), rights issue, or preferential issue.
Subsidiary Welspun Michigan Engineers has received the Letter of Acceptance (LOA) from the Brihanmumbai Municipal Corporation (BMC) for rehabilitating man-entry sewers using trenchless technology in Mumbai's suburbs. The contract value is Rs 159.75 crore, and the project is to be executed within 24 months (excluding monsoon) from the commencement notice.
The defense and heavy engineering manufacturer has signed a strategic Memorandum of Understanding (MoU) with the Directorate of Marine Engineering, Indian Navy, to develop advanced marine applications for defense. Additionally, the company has entered into an MoU with Malaysia’s largest rolling stock manufacturer, SMH Rail, to meet global demand for rail and metro solutions.
RVNL has signed an MoU with Dhaya Maju Infrastructure (Asia) Sdn Berhad (DMIA). They may collaborate to work jointly on railway infrastructure and services projects in the ASEAN market and other regions.
Promoter Trikkur Sitarama Iyer will be purchasing a 2.36% stake in Kalyan Jewellers from Highdell Investment at Rs 535 per share, amounting to Rs 1,300 crore. After the transaction, the promoters' shareholding in the company will increase from 60.59% to 62.95%.
The company's net profit declined by 43.7% year-on-year to Rs 16.78 crore for the June 2024 quarter, down from Rs 29.82 crore in the June 2023 quarter, despite healthy operating numbers and a decrease in input costs. The decline was impacted by an exceptional loss of Rs 20.19 crore (compared to nil in the same period last year). Revenue from operations fell 5.7% to Rs 283.9 crore, down from Rs 301.2 crore in the same period. The company declared a final dividend of Rs 60 per share.
Sponsor Esoteric II Pte - an affiliate of KKR - will sell a 17.32% stake in India Grid Trust, India’s first power sector InvIT, via offer-for-sale on August 22-23. The floor price for the offer will be Rs 132 per unit.
Bulk Deals
Citigroup Global Markets Mauritius, HDFC Mutual Fund, Morgan Stanley Asia Singapore Pte, Aditya Birla Sun Life Mutual Fund, Edelweiss Mutual Fund, and Nippon India Mutual Fund bought an 11.96% stake in the company at an average price of Rs 764.4 per share. However, promoter Cyient sold a 14.5% stake in the company at the same price.
The Government of Singapore has bought a 1.4% stake in the housing finance company at an average price of Rs 802.5 per share. Meanwhile, General Atlantic Singapore Fund FII Pte Ltd exited the company by selling its entire 5.13% stake at the same price.
Promoter entity AMI Holdings bought an additional 0.98% stake in the company at an average price of Rs 77.83 per share.
Foreign investor Nexus Ventures III sold a 1.06% stake in the logistics company at an average price of Rs 440 per share.
Griffin Growth Fund VCC bought a 7.9% stake in the company at an average price of Rs 373.85 per share from Lotus Global Investments. Meanwhile, Eriska Investment Fund sold a 0.77% stake in the company at an average price of Rs 371.77 per share.
Stocks Turn Ex-Dividend
Aster DM Healthcare, A-1 Acid, Benares Hotels, Data Infrastructure Trust, Gretex Corporate Services, Globus Spirits, Goldiam International, Hester Biosciences, Hindware Home Innovation, Investment & Precision Castings, Indian Railway Finance Corporation, Jindal Steel & Power, Kakatiya Cement Sugar & Industries, LG Balakrishnan, Mazda, Omax Autos, Panama Petrochem, Relaxo Footwears, Sirca Paints India
Stock Trades Ex-Date for Split
Money Masters Leasing & Finance
Stock Trades Ex-Date for Rights
Atal Realtech
Stocks Under F&O Ban
Aarti Industries, Aditya Birla Fashion and Retail, Balrampur Chini Mills, Birlasoft, GNFC, Granules India, Hindustan Copper, India Cements, LIC Housing Finance, NALCO, Piramal Enterprises, Sun TV Network
Stocks removed from F&O ban
Bandhan Bank, Manappuram Finance, RBL Bank, SAIL
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