Stock Radar: Dr Reddys, Mankind, Adani Total Gas, Aarti Drugs, BHEL, HFCL, Vodafone in focus on Monday
Dreamfolks Services, Sterling and Wilson Renewable Energy, Ugro Capital, Aster DM Healthcare, ONGC, Ramco Cements, Tata Steel, Avalon Technologies, and HDFC Bank will also be in focus on September 23.
Let’s catch up on the latest news from the stock market. From significant investments to major deals, fund raising and appointments, here’s a quick look at which stocks will be in focus in today’s trade:
Stocks To Watch
The company has entered into a strategic partnership with General Atomics Aeronautical Systems, Inc. (GA-ASI) to develop and supply critical sub-systems for GA-ASI’s advanced unmanned aircraft systems (UAS).
The company is currently addressing a temporary disruption in its services. Its dedicated team is working diligently with partners to identify the root cause and implement solutions as quickly as possible. All contractual agreements remain in full force. The top priority is to minimize any inconvenience to passengers and restore normal operations swiftly.
Sterling and Wilson Renewable Energy
Bahadur Dastoor has resigned as Chief Financial Officer (CFO) of the company, effective September 21.
The company has postponed its board meeting to September 24, from September 23, to consider the raising of funds due to unavoidable reasons.
The company, through its wholly owned subsidiary Sri Sainatha Multispecialty Hospitals, has entered into a lease agreement with Aparna Constructions and Estates for the establishment of a new Aster Woman and Children Hospital in Hyderabad.
The telecom operator has concluded a $3.6 billion (Rs 30,000 crore) deal with Nokia, Ericsson, and Samsung for the supply of network equipment over a three-year period. The capital expenditure program aims to expand 4G population coverage from 1.03 billion to 1.2 billion, launch 5G in key markets, and expand capacity in line with data growth.
Oil and Natural Gas Corporation
Subsidiary ONGC Videsh has signed a non-associated gas deal in the Azeri-Chirag-Deepwater Gunashili (ACG) field in Azerbaijan. The non-associated natural gas (NAG) resources of ACG are estimated to be significant, with up to 4 trillion cubic feet (tcf) in place.
The United States Food and Drug Administration (USFDA) has completed a Good Manufacturing Practice (GMP) inspection at the company’s formulation manufacturing facility in Chhatrapati Sambhaji Nagar (Aurangabad). The inspection, which was conducted from September 9-20, concluded with no observations.
The company has increased its cement grinding capacity by 0.9 MTPA, from 23.14 MTPA to 24.04 MTPA, with an investment of Rs 58 crore.
BHEL has received a notification of award (NOA) worth Rs 6,100 crore from NTPC for an 800 MW Sipat Supercritical Thermal Power Project Stage-III.
The company has extended the last date for the payment of unpaid call money. Forfeiture of the partly paid-up equity shares will be effected if the payment of unpaid call money, along with interest, is not made on or before October 7.
The USFDA has inspected the company’s API manufacturing facility in Tarapur, Maharashtra, from September 12-20. After the inspection, the company received seven inspectional observations in Form 483, none of which are related to data integrity.
The company has commissioned India’s largest blast furnace at Kalinganagar, Odisha. With an investment of Rs 27,000 crore, the Phase II expansion will increase the total crude steel capacity from 3 million tonnes per annum (MTPA) to 8 MTPA.
RM Subramanian has resigned as Chief Financial Officer of the company to pursue career opportunities outside the organization.
The USFDA completed a routine Good Manufacturing Practice (GMP) inspection at the company’s R&D centre (Integrated Product Development Organisation or IPDO) in Bachupally, Hyderabad. The inspection, conducted from September 16-20, concluded with zero observations.
HDB Financial Services has received board approval for an initial public offering (IPO) of equity shares, comprising a fresh issue worth Rs 2,500 crore and an offer for sale of equity shares by existing and eligible shareholders.
The company, along with its two subsidiaries (J S Auto Cast Foundry India and Kalyani Centre for Precision Technology), has entered into share subscription and shareholders agreements (SSSHA) with special purpose vehicles (SPVs) of Sunsure Energy for off-taking renewable energy under the group captive scheme as per the Electricity Act, 2003.
Gaurav Malik has resigned as Chief Financial Officer of the company, effective September 20, citing personal reasons and commitments.
The board has re-appointed Adi Patel as Managing Director for three years and appointed Vishal Kampani as Managing Director for five years, effective October 1. Currently, Vishal Kampani serves as Non-Executive Vice Chairman and, with this appointment, will become Vice Chairman and Managing Director.
Global lenders have provided financing to Adani Total Gas. The company has entered into a financing framework that enables future funding based on its business plan. The maiden financing of $375 million, executed with international lenders, includes an initial commitment of $315 million. Five international lenders participated in the initial financing: BNP Paribas, DBS Bank, Mizuho Bank, MUFG Bank, and Sumitomo Mitsui Banking Corporation.
The board of directors considered the matter of issuing bonus shares. The company needs to seek clarification from the Reserve Bank of India (RBI) regarding the issue of bonus shares to non-resident shareholders, including those covered under Foreign Direct Investment and Foreign Portfolio Investment.
The board has approved raising funds of up to Rs 10,000 crore via non-convertible debentures (NCDs) and commercial papers on a private placement basis.
Bulk Deals
The Vanguard Group Inc, through the Vanguard Total International Stock Index Fund, bought a half-percent stake in the company at an average price of Rs 588.68 per share.
The Vanguard Group Inc, through the Vanguard Total International Stock Index Fund, acquired a half-percent stake in the company at an average price of Rs 416.31 per share.
The Vanguard Group Inc, through the Vanguard Total International Stock Index Fund, purchased a 0.59% stake in the company at an average price of Rs 1,669.38 per share.
The Vanguard Group Inc, through the Vanguard Total International Stock Index Fund, bought a half-percent stake in the company at an average price of Rs 1,516.23 per share.
Stocks Trade Ex-Dividend
Stock Trades Ex-Date for Split
Srestha Finvest
F&O Ban
Aarti Industries, Biocon, Chambal Fertilisers and Chemicals, GNFC, Granules India, LIC Housing Finance, NALCO, Oracle Financial Services Software, Punjab National Bank, RBL Bank, SAIL.
Bymoneycontrol
