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:
Quarterly Earnings
Allied Digital Services Q4 (Consolidated YoY)
Net loss stands at Rs 8.67 crore Vs profit at Rs 11.62 crore
Revenue grows 15.6% to Rs 204.4 crore Vs Rs 176.8 crore
Total expenses spike 46% to Rs 230.9 crore Vs Rs 158.1 crore
Other income zooms to Rs 37.5 crore Vs Rs 0.14 crore
Stocks to Watch
Promoter entities Bajaj Holdings and Jamnalal Sons are likely to sell up to a 1.94% stake in Bajaj Finserv via block deals, reports CNBC-TV18 quoting sources. The total block size may be around Rs 5,828 crore, with a floor price of Rs 1,880 per share.
Indian Renewable Energy Development Agency (IREDA)
IREDA has opened its Qualified Institutional Placement (QIP) on June 5 and set the floor price at Rs 173.83 per share. The company may also offer a discount of up to 5% on the floor price.
The company has received letters of intent worth Rs 1,387.2 crore from the Motor Vehicles Department, Maharashtra, for various circles (Nagpur, Mumbai, Pune, Marathwada, Konkan, and Western Maharashtra). The project involves the design, implementation, integration, operation, and maintenance of an intelligent traffic management system on various stretches in these circles for a period of 10 years.
Enersur S.A., a Paraguay-based renewable energy company, has selected Praj Industries for its next major project. Praj will support the development, assessment, and phased implementation of a biorefinery project in Paraguay.
The company has commissioned 281 MW of organic renewable energy capacity, comprising 215 MW of solar capacity and 66 MW of wind capacity, taking its total installed capacity to 12,499 MW. Further, JSW Renew Energy Three, a step-down subsidiary, has signed a Power Purchase Agreement (PPA) with Adani Electricity Mumbai for 250 MW of STU-connected wind capacity. The PPA, signed for a supply period of 25 years, is priced at a tariff of Rs 3.65/kWh. The project in Maharashtra is expected to be commissioned within the next 24 months.
Coal India (CIL) has executed a non-binding Memorandum of Understanding (MoU) with Indian Port Rail & Ropeway Corporation in Kolkata for the development of rail infrastructure for CIL and its subsidiaries.
The company has executed a facility agreement worth Rs 275 crore with HDFC Bank to avail a loan for financing the purchase of the park business undertaking—Wet’n Joy (Amusement Park and Water Park) at Lonavala and Wet’n Joy (Water Park and Saiteerth Devotional Theme Park) at Shirdi—from Giriraj Enterprises.
K Ramakrishna has been designated as the CEO of the cement business (head of the cement division) of the company, effective June 5. He currently serves as the Senior President of the cement division.
The company has commenced operations of the first part capacity of 110.25 MW out of the 1,255 MW Khavda-I Solar PV project of its subsidiary, NTPC Renewable Energy.
The Board has approved the allotment of 30.85 crore partly paid-up equity shares at a price of Rs 32 per share to the company’s eligible equity shareholders on a rights basis. Of this amount, Rs 16 per share has been paid on allotment, and the remaining amount will be payable in not more than two calls.
The shareholding of Accel India IV (Mauritius) and Accel Growth Fund V LP in the company has been reduced by 2.73%, to 10.81% from 13.54%, following the completion of an open market transaction on June 3.
The company has agreed to acquire a 100% stake in Greenedge Enterprises from the existing shareholders for Rs 27 crore. It has executed a non-binding term sheet for the said acquisition. The acquisition of Greenedge is expected to strengthen Zaggle’s offerings in the loyalty and rewards segment, as well as the travel segment.
The company has commenced commercial operations at its fourth factory in India, located in Jaunpur, Uttar Pradesh.
The company has launched its Centre of Excellence for financial services in Buenos Aires, Argentina. It has onboarded 50 technology experts and plans to scale up to 200 by the end of the year.
Power Grid Corporation of India
The company has commissioned the project—Transmission Network Expansion in Gujarat to increase ATC from ISTS, Part-C.
The Board will meet on June 10 to consider the issuance of non-convertible debentures worth up to Rs 500 crore on a private placement basis.
Power and Instrumentation (Gujarat)
The company has received a third work order from Nyati Engineering & Construction. The contract pertains to the power supply system electrical work at the Udaipur Air Terminal in Rajasthan and is valued at Rs 6.25 crore.
The company’s subsidiary, Nila Urban Living, has awarded the construction contract worth Rs 129.25 crore for its upcoming premium residential development at GIFT City to Riveria Infrastructures. The project is scheduled to be completed over 27 months from the date of commencement.
The company has received Rs 123 crore from the Department of Telecommunications under the Production Linked Incentive (PLI) Scheme for telecom and networking products. The said amount is the first tranche, amounting to 85 percent of the eligible incentive for Q3FY25. The remainder is expected to be released subsequently.
The company has executed the sale deed to sell land and building at Noida, Uttar Pradesh, along with some assets, for Rs 50.5 crore.
Bulk Deals
Promoter Yuvraj Hiralal Malhotra has sold a 0.56% stake (1.31 lakh shares) in the company.
Bandhan Mutual Fund has sold 1 lakh shares in Khadim India.
SME Listing on June 6
3B Films
Stocks Trade Ex-Dividend
Bank of Baroda
Tata Steel
Container Corporation of India
HDFC Asset Management Company
High Energy Batteries India
ICICI Lombard General Insurance Company
IFGL Refractories
IndiaMART InterMESH
JSW Energy
Dr Lal PathLabs
L&T Technology Services
Maithan Alloys
Nicco Parks & Resorts
Panchsheel Organics
QGO Finance
Ramkrishna Forgings
TAAL Enterprises
Technocraft Industries (India)
Torrent Power
Toss The Coin
Stock Trades Ex-Date for Spin Off
Khadim India
Stock Trades Ex-Bonus
Shilchar Technologies
Stock Trades Ex-date for Buyback
SIS
Stock Trades Ex-Date for Rights
Som Datt Finance Corporation
Stocks in F&O Ban
Aditya Birla Fashion and Retail
Chambal Fertilisers and Chemicals
Manappuram Finance
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