Indian benchmark indices snapped the seven-day losing streak on Tuesday and settled higher, before a mid week break. However, the gains were trimmed in the fag-end session as the cautious sense prevailed at Dalal Street. BSE Sensex rose 239.37 or 0.31 per cent to end the session at 77,578.38. NSE’s Nifty50 jumped 64.70 points or 0.28 per cent, to settle at 23,518.50 for the day. Here are the stocks that may remain under spotlight before the opening bell on Thursday, November 21, 2024:
Corporate actions today: Shares of GMM Pfaudler and units of Nexus Select Trust will trade ex-dividend later today.
Adani Stocks: Gautam Adani led companies will be in focus today after US prosecutors indicted billionaire Gautam Adani and seven other senior business executives in connection with an alleged $250 million bribery scheme that they said was concealed from US investors.
Dr Reddy’s Laboratories: The USFDA completed a good manufacturing practices (GMP) inspection at the company’s API manufacturing facility (CTO-2) in Bollaram, Hyderabad. The inspection was conducted from November 13 to 19. The US health regulator issued a Form 483 with seven observations.
JSW Steel: The metal player has been declared the preferred bidder for Codli Mineral Block XII, located in Dharbandora, Goa, in an auction held on November 12. The projected iron ore resources stand at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps.
Wipro: The IT solutions provider and consulting company announced a collaboration with Lineaje to help enterprises secure the open-source components within their software applications. Recently, Wipro’s corporate investment arm, Wipro Ventures, invested in Lineaje, a US-based software supply chain security company.
Bharti Airtel: Nokia has been awarded a multi-year, multi-billion extension deal by Bharti Airtel to deploy 4G and 5G equipment across key Indian cities and states. Nokia will deploy equipment from its 5G AirScale portfolio, including base stations, baseband units and the latest generation of massive MIMO radios, all powered by its energy-efficient ReefShark System-on-Chip technology.
Power Grid Corporation of India: The state run power player has acquired Khavda V-A Power Transmission from the bid process coordinator, REC Power Development and Consultancy, for Rs 18.9 crore. Khavda V-A Power Transmission is the project Special Purpose Vehicle (SPV) formed to establish a transmission system for the evacuation of power.
UPL: The agricultural solutions provider has signed definitive agreements with global investment firm Alpha Wave Global. As per the agreements, Alpha Wave Global will invest $350 million to acquire approximately a 12.5 per cent stake in seed company Advanta Enterprises, its subsidiary. The company’s board has approved raising funds worth Rs 3,377.74 crore via a rights issue at a price of Rs 360 per share, with the record date fixed as November 26.
Varun Beverages: The PepsiCo bottler has raised Rs 7,500 crore via a qualified institutions placement (QIP) issue. The board has approved the allotment of 13.27 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 565 per share.
Tata Power Company: The Tata Group arm company has entered into a strategic partnership with Druk Green Power Corporation, the only utility player in Bhutan, to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. The projects include 2,000 MW of hydro, 2,500 MW of pumped storage, and 500 MW of solar capacities.
Godrej Properties: The real estate player has acquired a 53-acre land parcel in Joka, Kolkata. The proposed project is estimated to have a development potential of 1.3 million square feet of saleable area, primarily consisting of residential plotted development, with an estimated revenue potential of Rs 500 crore.
RITES: The railway owner transport infrastructure consultancy has signed a memorandum of understanding (MoU) with the National Institute of Solar Energy (NISE) to collaborate on quality assurance (QA) services for solar and renewable energy projects.
Gujarat Narmada Valley Fertilizers & Chemicals: The chemical company has signed an MoU with INEOS Acetyls to explore the feasibility of building a new world-scale 600kt acetic acid plant at its site in Bharuch, Gujarat. INEOS Acetyls is a leading producer of acetic acid globally, and GNFC is the only current producer of acetic acid in India.
NLC India: The state run coal company will invest up to Rs 3,720 crore, in one or more tranches, for various renewable projects and acquire a stake by subscribing to equity shares of NLC India Renewables, as part of its asset monetization plan. The renewable energy assets currently on NLC’s books were valued at Rs 6,263 crore as of September 2024.
PSP Projects: Adani Infra (India), an Adani Group subsidiary, has signed definitive agreements to acquire up to a 30.07 per cent stake in PSP Projects from the existing promoter, Prahladbhai S Patel, for Rs 685.4 crore. Currently, Prahladbhai S Patel and his family own a 60.14 per cent stake in the company. Adani Infra has also announced an open offer to buy up to an additional 26 per cent stake.
SIS: The Board will meet on November 25 to consider a proposal for fund-raising via a debt issue in the form of debentures.
Garden Reach Shipbuilders & Engineers: The PSU defence player has signed a contract worth Rs 226.2 crore with the Transport Department of the Government of West Bengal for the delivery of 13 hybrid ferries. These ferries will operate on the River Hooghly under the West Bengal Transport Infrastructure Development Corporation.
Godfrey Phillips India: The cigarette maker company has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. November 29 has been fixed as the record date for determining the entitlement of shareholders for the interim dividend.
Aegis Logistics: The logistics solution provider’s subsidiary, Aegis Vopak Terminals, has filed a draft red herring prospectus with the capital markets regulator to raise Rs 3,500 crore via an initial public offering (IPO). It is an entirely fresh issue with no offer-for-sale component.
Easy Trip Planners: The online travel tech platform announced its partnership with BNZ Green to promote eco-friendly green travel and reduce the environmental impact of the tourism industry.
Aditya Birla Capital: The shadow lender has invested Rs 100 crore on a rights basis in Aditya Birla Capital Digital. Following this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.
