Stocks

Stocks that will see action today (March 4)

K. S. Badri Narayanan | | Updated on: Mar 04, 2022

STOCKS TO WATCH: Vodafone Idea, SJVN, Wockhardt, John Cockerill, Themis Medicare, IndiaMart, LT Foods, Eveready Industries

The board of Vodafone Idea has approved the issuance of upto 338.34 crore shares at ₹13.30 a share for an aggregate consideration of up to ₹4,500 crore to Euro Pacific Securities Ltd and Prime Metals Ltd. (Vodafone group entities and promoters of the company), and Oriana Investments Pte. Ltd (Aditya Birla Group entity forming part of the promoter group) on a preferential basis. The board also approved the issue of equity shares or securities convertible into equity shares, GDR, ADR, FCCB, convertible debentures, warrants, composite issue of NCDs and warrants entitling the warrant holder(s) to apply for equity shares or a combination thereof up to an aggregate amount of ₹10,000 crore by way of private placement, qualified institutions placement or through any other permissible mode in one or more tranches.

SJVN has achieved financial closure for 210 MW Luhri-1 Hydro Electric Project (Luhri HEP), Himachal Pradesh and 75 MW Parasaran Solar Power Project in Uttar Pradesh. As per the loan agreement, State Bank of India will provide ₹1,537 crore at an effective interest rate of 6.90 per cent per annum and Punjab National Bank, Dubai, will provide ₹319.04 crore for Luhri HEP and Parasaran Projects respectively.

Pharmaceuticals firm Wockhardt Ltd on Thursday said it has fixed issue price at ₹225 per share for its ₹748-crore rights issue. The issue will open on March 15 and close on March 22, 2022.

ArcelorMittal Nippon Steel India Limited (AM/NS India) entrusted John Cockerill India Limited, with the supply of two new steel processing lines to be installed at the client's Hazira Works. In consortium with its other group entities, John Cockerill India is to supply a continuous galvanising and annealing line and a new continuous galvanising line. The total value of contract for scope of work to be executed by John Cockerill India exceeds ₹1,000 crore.

Themis Medicare has announced the approval of its antiviral drug VIRALEX by the Drug Controller General of India (DCGI). As per the results of a double-blind randomised controlled trials (RCT), the drug helps in early relief of the clinical symptoms in mild to moderate Covid-19 patients.

IndiaMART has made an investment of approximately ₹17 crore in Zimyo Consulting Private Limited. Zimyo Consulting under the brand name offers SaaS-based human resource management software for businesses. It allows users to carry out critical HR processes including recruitment and onboarding, payroll management, performance management, and time and attendance management.

LT Foods has said that its subsidiary LT Foods Americans Inc acquired 51 percent stake in Golden Star Trading Inc along with its brand Golden Star. It also has a call option to further buy the remaining 49 per cent stake at the end of three years.

After the open offer by Burman group, Aditya Khaitan and Amritanshu Khaitan have resigned as Non-Executive Director and Chairman, and as Managing Director of Eveready Industries India. The resignation will enable the company to benefit from new leadership and direction.

Published on March 04, 2022
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