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Stocks to Watch Today | Adani Enterprises, Devyani International, Ugro Capital, and others in news today

Stocks to Watch: Check out the companies making headlines before the opening bell.

August 24, 2022 / 06:48 AM IST
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Adani Enterprises: The Adani Group company's indirect subsidiary Vishvapradhan Commercial (VCPL) has exercised certain warrants for acquiring 99.5 percent shareholding in RRPR Holding (RRPR), a promoter company of New Delhi Television Limited (NDTV). The acquisition will result in VCPL acquiring control of RRPR. RRPR holds 29.18 percent stake in NDTV. VCPL, along with AMG Media Networks (AMNL) and Adani Enterprises will launch an open offer to acquire up to 26 percent stake in NDTV.
Ugro Capital: Ugro Capital Q1 profit jumps more than 4-fold to Rs 7.34 crore, total income more than doubles to Rs 123.8 crore. The company has recorded a 332% year-on-year growth in profit at Rs 7.34 crore for the quarter ended June 2022, compared to Rs 1.70 crore in same period last year. Total income jumped 141.4% to Rs 123.80 crore during the same period.
Ugro Capital: The company said its Investment and Borrowing Committee will meet on August 26 to approve raising of funds by way of issuance of non-convertible debentures through private placement basis.
Representative Image Source: Reuters
Chennai Petroleum Corporation: Chennai Petroleum has decided to form a joint venture company along with Indian Oil Corporation and other seed equity investors (Axis Bank, HDFC Life Insurance Company, ICICI Bank, ICICI Prudential Life Insurance Company and SBI Life Insurance Company for implementing the 9 MMTPA refinery project at Cauvery basin refinery, at estimated cost of Rs 31,580 crore. Chennai Petroleum received board approval for equity investment of upto Rs 2,570 crore in the joint venture, towards its contribution of 25 percent.
Dhruv Consultancy Services | The company is appointed as project consultant towards solid waste management/bio-mining, by Yawatmal Nagar Parishad, Yawatmal, Maharashtra. The estimated project cost will be Rs 64,25,160, for a tenure of 6 months.
SecMark Consultancy: The company decided to issue of bonus share in the ratio three fully paid-up equity shares for every two shares held by shareholders. This is subject to the approval of the shareholders of the company.
Himatsingka Seide: CRISIL has downgraded the credit rating on company's long term debt to BBB+, from A- with negative outlook, and short term debt rating has been downgraded to A2 from A2+.
Himatsingka Seide: CRISIL has downgraded the credit rating on company's long term debt to BBB+, from A- with negative outlook, and short term debt rating has been downgraded to A2 from A2+.
Aman Trehan said that the company would be selling only non-prime assets in its projects and that too only to fund the project. (Representative image)
Arvind SmartSpaces: The company has executed the agreements, as a promoter, in relation to the new platform. Arvind SmartSpaces, and HDFC Capital Advisors (as investment manager of HDFC Capital Affordable Real Estate Fund - 3 will make investments in company's wholly owned subsidiary Arvind SmartHomes for acquisition and construction of real estate projects (platform funding). Arvind SmartSpaces will invest Rs 300 crore and HDFC Capital Advisors will invest Rs 600 crore in Arvind SmartHomes.
Nava: The company has decided to discontinue the production of high carbon ferro chrome for TATA Steel Mining at the end of October 2022. The company will undertake a scheduled maintenance of the Odisha smelters in November 2022 and switch over to production of manganese alloys in Odisha Works. The company has geared up for this additional production in Odisha, besides that in Telangana, aggregating to a rated capacity of 1,80,000 MT of manganese alloys per annum. The switchover would provide the company better economies of scale and improved market share in the manganese alloys segment. The agreement for production of high carbon ferro chrome for TATA Steel Mining was for the period up to March, 2025.
Nava: The company has decided to discontinue the production of high carbon ferro chrome for TATA Steel Mining at the end of October 2022. The company will undertake a scheduled maintenance of the Odisha smelters in November 2022 and switch over to production of manganese alloys in Odisha Works. The company has geared up for this additional production in Odisha, besides that in Telangana, aggregating to a rated capacity of 1,80,000 MT of manganese alloys per annum. The switchover would provide the company better economies of scale and improved market share in the manganese alloys segment. The agreement for production of high carbon ferro chrome for TATA Steel Mining was for the period up to March, 2025.
Monarch Networth Capital through Monarch Alternative Investment Fund raises Rs 252 crore Monarch Networth Capital: The company through Monarch Alternative Investment Fund raised Rs 252 crore in its second Cat-3 AIF. It plans to infuse Rs 1,000 crore in its existing and new businesses over the next 3 years. It has received interest from sovereign funds and family offices.
Monarch Networth Capital: The company through Monarch Alternative Investment Fund raised Rs 252 crore in its second Cat-3 AIF. It plans to infuse Rs 1,000 crore in its existing and new businesses over the next 3 years. It has received interest from sovereign funds and family offices.
KEI Industries: KEI Industries net profit up 35% YoY to Rs 116 crore. The company clocked a 35 percent year-on-year growth in consolidated profit at Rs 116 crore in quarter ended March 2022, led by other income, operating income and robust topline. Revenue during the quarter increased by 44 percent to Rs 1,792 crore YoY.
KEI Industries: Rating agency ICRA has upgraded the long term bank facilities ratings & reaffirmed short term bank facilities/ debt instruments ratings of the company. ICRA said the upgrade in ratings for the debt programme of KEI Industries considered the strong domestic demand growth prospects of wires and cables in various end-user segments benefitting from both government infrastructure development activities as well as private capex.
Cigniti Technologies: PMK Holdings Private Limited acquired additional 1,50,802 equity shares in the company at an average price of Rs 597 per share. As of June 2022, PMK held 1.56% stake or 4.26 lakh shares in the company.
Cigniti Technologies: PMK Holdings Private Limited acquired additional 1,50,802 equity shares in the company at an average price of Rs 597 per share. As of June 2022, PMK held 1.56 percent stake or 4.26 lakh shares in the company.
Devyani International | CMP: Rs 186.30 | The scrip fell over 5 percent on August 23 after it saw a huge block deal change hands, Bloomberg reported. However, the details of the buyers and sellers of the deal were not known. Around 26.4 million shares or 2.33 percent stake of the company changed hands, according to a Bloomberg report. Earlier, CNBC TV reported Dunearn Investments (Mauritius) Pte Ltd is likely to sell nearly 3 percent stake at Rs 182-196.25 per share. The base offer was expected at 2.6 crore shares (2.19 percent equity) with an upsize option of 87.76 lakh shares ( 0.73 percent equity). The total deal size is expected at $80-86 million.
Devyani International: Dunearn Investments (Mauritius) Pte Ltd sold 2,63,29,516 equity shares or 2.18 percent stake in the company via open market transactions at an average price of Rs 183.11 per share. Dunearn held 8.13 percent stake or 9.8 crore equity shares in the company as of June 2022.
Rakesh Patil
first published: Aug 24, 2022 06:48 am
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