Stocks to Watch: Vodafone Idea’s Crucial June 13 Meeting on New Share Issue Amid Financial Struggles

Vodafone Idea

Vodafone Idea’s board is meeting on June 13 to discuss issuing new shares or convertible securities to its vendors on a preferential basis. The telecom company has been struggling financially, with increasing losses and only a small rise in annual revenue.

Rail Vikas Nigam Limited (RVNL)

RVNL has been chosen as the lowest bidder by Central Railway for work on the Amla-Nagpur Section, aiming to achieve a 3,000 MT loading target. Additionally, a Siemens and RVNL consortium has secured a ₹394 crore contract from Bangalore Metro Rail Corporation Ltd (BMRC) for various engineering tasks, expected to be completed in 130 weeks.

Transformers and Rectifiers India

The company has set a base price of ₹699.95 per share for raising funds through a qualified institutional placement (QIP).

Tata Motors

Tata Motors is offering significant discounts on several popular models, including the Tiago, Altroz, Nexon, Harrier, and Safari. Buyers can save up to ₹55,000 on select MY2024 units.

IRB Infrastructure Developers

Cintra, a subsidiary of Ferrovial, plans to sell up to a 5% stake in IRB Infrastructure Developers via a block deal. The deal is priced between ₹63-70.16 per share, which is up to a 10.2% discount on the last closing price. The transaction size is approximately ₹1,900.3 crore at the lower end of the price range.

Power Grid Corporation

Power Grid Corporation has successfully rolled out the ‘Reliable Communication Scheme under Central Sector for Northern Region’ as of April 1.

One 97 Communications (Paytm)

Paytm’s founder and CEO, Vijay Shekhar Sharma, is reaching out to his trusted team to revitalise the company amidst reports of internal issues and regulatory challenges. Sharma is taking charge of various company segments to boost growth, reduce customer losses, and restore confidence among partners and customers.

PVR Inox

The multiplex chain is focusing on expanding its food and beverage (F&B) segment, the fastest-growing part of its business. PVR Inox has partnered with EazyDiner to offer up to 25% discounts on items like popcorn and Pepsi for payments made through EazyDiner.

Kalpataru Projects International

Kalpataru Projects’ board has approved raising ₹300 crore through Non-Convertible Debentures (NCDs) on a private placement basis. The company plans to issue 30,000 NCDs with a face value of ₹1,00,000 each.

Mphasis

Kotak Mahindra Mutual Fund, along with Morgan Stanley and Societe Generale, has bought Mphasis shares worth nearly ₹1,900 crore. Blackstone, the largest shareholder, sold a 15.1% stake in Mphasis.

Jubilant Foodworks

Jubilant Foodworks, the master franchisee for Domino’s in India, plans to double its outlets to 4,000 in the next four years. The company aims to open around 200 new stores in India each year to meet its growth target.

Suzlon Energy

Suzlon Energy has clarified that there are no financial or compliance issues following the resignation of its independent director, Marc Desaedeleer, who had raised corporate governance concerns.

Bank of India

Bank of India has acquired a 6.125% stake in Clearing Corporation of India Ltd. (CCIL) IFSC for ₹6.125 crore. This move supports the development of IFSC, where CCIL IFSC is working on a real-time foreign currency settlement system.

Havells India

Havells India has partnered with UAE-based Jumbo Group to enter the kitchen appliances market. The products will initially be available on Jumbo’s e-commerce site, followed by distribution in Jumbo Electronics retail stores.

Infosys

Infosys has partnered with GitHub to launch the first GitHub Center of Excellence (CoE), aiming to accelerate software development in collaboration with Global System Integrators (GSIs).

NLC India

NLC India’s board has approved raising up to $600 million through External Commercial Borrowings (ECB) for business needs. Additionally, the board has approved an investment of up to ₹994.50 crore in NLC India Renewables, its wholly-owned subsidiary.