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 company has signed a Memorandum of Understanding (MoU) with the Bihar government for the development of the 1,000 MW Hathidah Durgawati Pumped Storage Project and other PSPs.
The pharma major has entered into an agreement with Zaza Industrial Holdings KK, Japan, to sell 100% of its shares in Sun Pharma Japan Technical Operations, a step-down subsidiary (through its subsidiary Sun Pharma Japan), for Japanese yen one only. Consequently, Sun Pharma Japan Technical Operations will cease to be a subsidiary of the company.
Following the demerger of the company’s hotels business into ITC Hotels, effective January 1, 2025, the entire shares held by ITC in eight companies—Fortune Park Hotels, Bay Islands Hotels, Landbase India, WelcomHotels (Lanka), Srinivasa Resorts, International Travel House, Gujarat Hotels, and Maharaja Heritage Resorts—will be transferred to ITCHL, effective January 1.
Kalpataru Projects International
The EPC company has secured new orders worth Rs 1,011 crore, including from the transmission & distribution and railway businesses in India. With this order, the year-to-date (YTD) order inflows now exceed Rs 17,300 crore.
The company has invested Rs 1,000 crore in its subsidiary, Piramal Capital & Housing Finance, through a rights issue subscription. Piramal Capital will utilize the amount for business and general corporate purposes. There is no change in the company’s shareholding percentage in Piramal Capital following this investment.
The bank has sold its portfolio of unsecured stressed microfinance institution (MFI) loans (non-performing assets and written-off accounts), with an outstanding of Rs 354.54 crore, to an Asset Reconstruction Company (ARC) for Rs 52 crore.
The company has completed the acquisition of a 17.5% stake in Nature Bio-Foods, its organic arm, from India Agri Business Fund II Limited, for Rs 110 crore. Post-acquisition, Nature Bio-Foods has become a wholly-owned subsidiary.
The company has accepted an award letter for a project worth $1.64 million for providing credit automation services and a purchase order worth Rs 20.9 crore for the Newgen Remittance system license cost. Additionally, its subsidiary, Newgen Software Technologies Pte in Singapore, has received a project worth SGD 1.74 million for a knowledge and records management system (KRMS). Another subsidiary, Newgen Software Inc in the US, has executed a scope of work worth $1.8 million with a banking client for digital account opening, retail loans, ECM, and collection upgrades.
The company has approved the sale of a portion of its commercial vehicle loan book to Assets Care & Reconstruction Enterprise. The sale includes accounts tagged in Stage 3, with dues outstanding aggregating Rs 174 crore.
The company has sold its entire shareholding of 25.54 crore equity shares, representing a 100% stake in its subsidiary TVS Emerald, to VEE ESS Trading (a promoter group company) for Rs 485.85 crore.
The Board has approved the appointment of Francisca Rosario as Chief Financial Officer and Radheshyam Laxmanrao Mopalwar as Chairman, replacing Pawankumar Nathmal Mallawat. Dineshkumar Laxminarayan Agrawal has resigned as Executive Director, and Akshay Pawan Kumar Jain as Whole-Time Director of the company.
Sunil Sapre retired as Executive Director of the company, effective December 31.
The company has approved fund-raising of Rs 20.6 crore and the issue of 1.25 crore shares on a preferential basis to investors at a price of Rs 16.5 per share.
The company has received a contract worth Rs 7.3 crore from Hissar Builders for fabricating FOB steel girders at Gamharia, SINI, and Rajkharswan (RKSN) stations in the Chakradharpur division.
The Securities and Exchange Board of India (SEBI) has advised Kirloskar Industries to disclose the Deed of Family Settlement (DFS) dated September 11, 2009, entered into among Kirloskar family members in their personal capacity, under SEBI regulations. The question of whether the DFS is binding on Kirloskar companies is pending before the Civil Court since 2018. Despite this, SEBI has opined on matters that are sub-judice. The company maintains that it is not bound by the DFS, nor does it impose any restrictions or liabilities on it. Kirloskar Industries is currently seeking legal counsel to challenge SEBI’s decision.
Bulk Deals
Promoter Nishant Pitti sold a 14.09% stake in Easy Trip (out of a 14.21% stake) at an average price of Rs 15.68 per share. However, Arunaben Sanjaykumar Bhatiya bought a 0.67% stake at an average price of Rs 15.86 per share.
Neomile Growth Fund - Series I bought a 1.16% stake in AGS Transact at an average price of Rs 65 per share. However, promoter Vineha Enterprises sold a 1.18% stake at the same price.
Unimech Aerospace and Manufacturing
VQ Fastercap Fund bought a 0.99% stake in Unimech at an average price of Rs 1,387.56 per share.
Bridge India Fund sold a 2.15% stake in the company at an average price of Rs 16.4 per share.
Stock Trades Ex-Date for Bonus
Surya Roshni
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