SUMMARY
stocks to watch, Vodafone Idea, NHPC, Syngene International, Brookfield India REIT, Tiger Logistics, Metropolis Healthcare, Bajaj Finserv, Datamatics Global Services, JSW Steel, Bharat Electronics and more, these are the stocks to watch for today.
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Vodafone Idea | Telecom operator said its board has approved the issuance of up to 175.53 crore shares on a preferential basis to two Vodafone Group entities to raise up to ₹1,980 crore. The debt-ridden telco pegged the issue price at ₹11.28 per equity share. The relevant date for determining the floor price of the preferential issue is December 6, 2024, the company informed.
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NHPC | The company announced a board meeting scheduled for December 12, 2024, to consider a revised borrowing plan for the financial year 2024-25. As part of this plan, the company intends to raise up to ₹2,600 crore by issuing unsecured, redeemable, taxable, non-convertible, non-cumulative bonds through private placement.
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Bharat Electronics | The defence equipment manufacturer managed by the state has won new orders worth ₹634 crore, it said in an exchange filing on Monday. The orders pertain to mthe aintenance of the Akash Missile System, telescopic sights for guns, communication equipment, jammers, electronic voting machines, test stations, spares and services. With these orders, the latest entrant to the Nifty 50 index has taken its overall order book to ₹8,828 crore for the current financial year.
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Syngene International | Biotechnology firm Biocon Ltd is likely to sell a 2% stake in contract research and manufacturing services firm through block deals, with the indicative price for the sale pegged at ₹825 per share, sources privy to the developments told CNBC-TV18. This represents a discount of 0-4.9% to the current market price (CMP) of ₹867.90 per share, sources in the know told CNBC-TV18. The total transaction size is estimated to be ₹660 crore.
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Brookfield India REIT | The company announced the approval to open institutional placements for its units, following a meeting of its Issue Committee held on December 9, 2024. The floor price for the placement has been set at ₹287.55 per unit, it said in a statement. The decision follows the approval granted by Brookfield India REIT’s unitholders on November 29, 2024, to raise funds worth ₹3,500 crore through one or more institutional placements. The process for receiving bids for the placement officially begins today, December 9, 2024.
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Tiger Logistics | The company said its board of directors has approved an in-principle fundraising plan of up to ₹400 crore through the issuance of equity shares, convertible instruments, or other permissible securities via a preferential issue. The funds will be raised in one or more tranches, subject to statutory approvals and in compliance with SEBI (ICDR) Regulations and other applicable laws.
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Metropolis Healthcare | Mumbai-based medical diagnostics company said its board of directors has approved the acquisition of Delhi-NCR-headquartered Core Diagnostics for ₹ 246.83 crore. Metropolis will acquire a 100% stake in Core Diagnostics through a combination of cash and stock, financing 55% of the transaction in cash and 45% through an equity swap, totalling ₹246.8 crore.
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Bajaj Finserv | The company announced a robust premium performance by its unlisted insurance subsidiaries, Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company, for November 2024. Bajaj Allianz General Insurance reported gross direct premiums underwritten of ₹1,364.67 crore for November, with the cumulative premium for the financial year up to November reaching ₹15,781.54 crore. Bajaj Allianz Life Insurance recorded total new business premiums of ₹659.35 crore for November, contributing to ₹7,449.08 crore for the period from April to November 2024.
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Datamatics Global Services | IT company announced its wholly-owned subsidiary Lumina Datamatics Ltd will acquire a 100% stake in TNQ Tech Private Ltd, a Chennai-based digital publishing technology and services provider. The acquisition will occur in two tranches under the terms of definitive agreements signed on December 9, 2024. The first tranche, valued at ₹336 crore, will secure an 80% stake by December 31, 2024, while the remaining 20% will be acquired by July 31, 2026, subject to EBITDA and other conditions outlined in the agreements.
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JSW Steel | The company reported a 5% year-on-year increase in its consolidated crude steel production for November, reaching 23.23 lakh tonnes compared to 22.04 lakh tonnes last year. Indian operations saw a 7% rise, producing 22.53 lakh tonnes, with a 94% capacity utilisation. However, its US operations at JSW Steel USA-Ohio saw a 22% decline, producing 0.70 lakh tonnes in November, down from 0.90 lakh tonnes a year ago.