Buzzing stocks. Stocks to watch today-July 9, 2023

CDSL will remain in focus as its competitor National Securities Depositories Ltd has filed draft papers for an initial public offering. The IPO will be a pure Offer for Sale of up to 5.72 crore shares - 2.22 crore shares by IDBI Bank; up to 1.8 crore shares by NSE; 56.25 lakh shares by Union Bank of India; 40 lakh shares each by State Bank of India and HDFC Bank Limited; and 34.15 lakh shares by Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI). Stocks such as IDBI Bank, Union Bank, HDFC Bank, and SBI will also remain in focus.

The board of Reliance Retail, an arm of Reliance Industries, has approved a proposal to reduce the equity share capital to the extent held by shareholders other than its promoter and holding company, Reliance Retail Ventures Limited. Upon such reduction, these shares held by such shareholders shall stand cancelled and extinguished. A consideration of ₹1,362 a share, determined on the basis of valuation obtained from two reputed independent registered valuers, would be paid towards the capital reduction. Meanwhile, the company has fixed July 20 as the record date for the demerger of Jio Financial.

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Anil Agarwal-led Volcan Investments has decided to rejig the semiconductor business segment by bringing it under subsidiary Twin Star Technologies Limited, the group firm Vedanta said on Friday. Under the new structure, Twin Star Technologies (TSTL), which is a sister concern of Vedanta Ltd, will become its subsidiary and Vedanta’s semiconductor and display business will be brought under TSTL. With this restructuring, Vedanta Limited announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio.

The board of Indian Oil Corporation has approved a fund raise plans of up to ₹22,000 crore through a rights issue as part of a government’s plan to infuse capital into three state-owned fuel retailers to fund their net zero carbon emission projects.

Tata Motors on Friday reported a 5 per cent increase in its group global wholesales, including Jaguar Land Rover, at 3,22,159 units in Q1 FY24, as compared to the year-ago period.

Adani Enterprises has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it signed a pact to acquire 100 per cent of SEPL. It said its wholly owned subsidiary Adani Digital Labs Pvt Ltd has bought a 29.81 per cent stake in SEPL for₹3.56 crore.

Punjab National Bank has infused ₹72.82 crore in its Bhutan subsidiary Druk PNB Bank Ltd via a rights issue.

Xpro India has raised ₹125 crore in equity resources upon conversion of warrants issued to the Malabar India Fund Limited.

The board of Suzlon Energy has approved a proposal to raise up to ₹2,000 crore. The company will explore various financial routes to raise the amount, a BSE filing showed.

The board of Som Distilleries and Breweries Limited has approved the raising of funds through the issue of convertible equity warrants to the promoters, promoter group, and other public investors on a preferential basis. Accordingly, the company will issue up to 51.50 lakh warrants convertible in one or more tranches to equity shares of ₹5 each of the company at a price of ₹275 a warrant. The funds raised will be used to pay off some of the existing loans taken by the company and to part finance the capex programs being planned at Bhopal and Hassan.

The board of Prism Johnson has approved the terms and conditions of the definitive agreements to be executed with Ramco Cements Limited in relation to sale of certain freehold land parcels aggregating 1420.72 acres approximately located in Kotapadu and Kalavatla, Kolimigundla Mandal, Nandyal District, Andhra Pradesh, along with compensation for release of rights in Government alienated land and pre-operative expenses, interest thereon, etc. The Board has also approved the transfer of a mining lease granted by the Government of Andhra Pradesh to TRCL over an extent of 663.46 Ha.

The board of Hindustan Zinc Ltd has approved interim dividend of ₹7 a share i.e. 350 per cent on face value of ₹2 a share for FY24 amounting to ₹2,957.72 Crores. The record date for the purpose of interim dividend payment is July 15.

Crisis-hit Jaypee Group’s flagship firm Jaiprakash Associates has defaulted on loans worth ₹4,044 crore, including principal and interest amount. Jaiprakash Associates informed that the company on June 30 defaulted on repayments of a principal amount of ₹1,660 crore and interest of ₹2,384 crore.

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Samvardhana Motherson International has inked a pact to fully acquire Bengaluru-based Rollon Hydraulics for an undisclosed amount. Rollon is engaged in manufacturing, assembly, and supply of high-precision turned parts, spools, and other machined components with critical engineering applications for the agriculture and off- Highway segment from its two facilities in Bengaluru.

Prabhu Steel Industries Ltd has executed an agreement to sell a plot area measuring 531.29 sq. meters at Mauza Nagpur for ₹1.71 crore. The buyer is a third-party one, who does not belong to the promoter/promoter group companies and the transaction does not fall under the ambit of Related Party Transactions.

Life Insurance Corporation of India has dilusted its shareholding Exide Industries from 5.519 per cent to 3.513 per cent.

The board of Deccan Gold Mines Limited has approved the proposal to acquire share capital aggregating to 10,50,00,000 KGS (Kyrgyzstani Som) (60 per cent stake) in Avelum Partners LLC, Kyrgyzstan, and 810 shares in Kalevala Gold Oy, Finland, representing 31.52 per cent of the present capital of Kalevala. The shares would be acquired through a share swap at ₹53.47 a share of Deccan Gold.

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