Here’s a quick update on some key stocks to watch today:
Bajaj Finance: Bajaj Finance has greenlit an IPO for Bajaj Housing Finance to raise ₹4,000 crore by issuing new shares. This IPO will help Bajaj Housing Finance comply with RBI rules that require certain non-banking financial companies to list within three years of being designated as “upper layer” NBFCs.
Wipro: Wipro has won a $500 million contract from a leading US communication service provider. Over the next five years, Wipro will provide managed services and specialized solutions as part of this deal.
ICICI Bank: SEBI has warned ICICI Bank for pushing shareholders to vote for the delisting of ICICI Securities. SEBI wants ICICI Bank to take action against the employees involved and report back. The bank disclosed this warning to the stock exchanges.
Tata Chemicals: Tata Chemicals Europe, a subsidiary, has been fined £1.1 million by a UK court. This fine is due to a 2016 safety incident that led to the injury and unexpected death of a contractor.
HUL (Hindustan Unilever Limited): Arun Neelakantan, the current Chief Digital Officer, will become the Executive Director of Customer Development on July 1st, replacing Kedar Lele, who is leaving for a new opportunity.
Vedanta: Vedanta has received approval from most of its creditors for a plan to split the company into six separate listed businesses. This move is a significant step in Vedanta’s restructuring process.
IRB Infrastructure Developers: IRB and its associate IRB Infrastructure Trust saw a 30% year-on-year growth in toll revenue for May 2024, collecting ₹536 crore, up from ₹411 crore in May 2023.
Dixon Technologies: Dixon Technologies has signed a term sheet with HKC Corporation to form a joint venture. This partnership aims to manufacture liquid crystal modules and assemble products like smartphones and TVs in India, as well as sell HKC-branded products.
RVNL (Rail Vikas Nigam Limited): RVNL has secured a ₹495 crore contract from NTPC to complete civil and hydro-mechanical works for the Rammam Hydro Electric Project Stage-III, which has a capacity of 3×40 MW.
PB Fintech: Tencent Cloud Europe BV sold a 0.73% stake in Policybazaar’s parent company, PB Fintech, for ₹416 crore through an open market transaction.
Zomato: Blinkit, Zomato’s quick commerce arm, faced issues at a warehouse in Hyderabad. Safety inspectors found the warehouse to be disorganized and unhygienic.
Hero MotoCorp: Hero MotoCorp will buy an additional 2.2% stake in Ather Energy for ₹124 crore, expected to be completed by July 31st. Hero currently holds a 39.7% stake in Ather Energy.
Muthoot Microfin, SBI: Muthoot Microfin has entered a co-lending partnership with SBI to lend to members of Joint Liability Groups involved in agriculture and other income-generating activities.
Welspun Enterprises: Welspun Enterprises has settled a long-standing legal dispute with Indian Oil Corporation over a project. IOCL will pay Welspun ₹23.67 crore, including principal and interest.
GMR Power and Infra: GMR Power and Infra has approved issuing 15,026 secured non-convertible debentures worth ₹150 crore at an interest rate of 10.92% per annum.
Power Grid Corporation of India: Ravindra Kumar Tyagi, Chairman and Managing Director, will also take on the role of Director of Projects starting July 1st.
Sun Pharmaceuticals: Sun Pharmaceuticals and its subsidiaries are acquiring a 9.6% stake in Haystack Analytics.
RITES: RITES received a contract from Tata Steel for hiring locomotives along with their operation and maintenance.
Paytm: Paytm’s share of UPI transactions in India decreased to 8.1% in May, down from 13% in January.
Orient Green Power: Orient Green Power plans to seek approval to raise its authorized share capital to ₹2,500 crore from the current ₹1,600 crore at its upcoming annual general meeting.
Oberoi Realty: Oberoi Realty will pay a final dividend of ₹2 per equity share for FY23-24, with June 24th set as the record date.
Jubilant Pharmova: Jubilant Pharmova plans to acquire a 19.89% stake in O2 Renewable Energy XVI.
CanFin Homes: CanFin Homes is recommending raising funds up to ₹1,000 crore through various means like QIP, preferential allotment, or rights issue.
Union Bank: Union Bank will discuss raising capital on June 11th, which might include options like rights issue, private placements, QIPs, or preferential allotment.
United Breweries: United Breweries launched a new beer, ‘Queenfisher Premium Lager Beer,’ in Maharashtra.
Regency Fincorp: Regency Fincorp has opened three new branches in Raikot, Ludhiana, and Yamuna Nagar.
Medplus Health Services: Medplus’s subsidiary Optival Health Solutions received suspension orders for two stores in Mumbai.
Zen Technologies: Zen Technologies delivered its Anti‐Drone System to the Army Air Defense College in Odisha.
India Pesticides: India Pesticides commissioned a new plant to produce a fungicide previously imported.
Scan Projects: A promoter group member of Scan Projects gifted 60 lakh shares to another family member.
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