Markets

Stocks that will see action on June 24, 2022

K. S. Badri Narayanan | Updated on: Jun 24, 2022

Buzzing stocks: Zomato, ONGC, Greaves Cotton, Hero MotoCorp, Century Plyboards, Thermax, Route Mobile, Jai Balaji Ind

Greaves Electric Mobility Private Limited, subsidiary of Greaves Cotton Limited, has announced the completion of allotment of equity shares to Abdul Latif Jameel, an independent, family-owned, diversified global investor and operator following the announcement made in early June. The Company has allotted 68.35 lakh shares, representing 35.80 per cent shareholding in the Company, to Abdul Latif Jameel, by way of preferential allotment for ₹1,171 crore.

Zomato’s board will meet on Friday to discuss a potential acquisition transaction by the company, the consideration for which may be discharged through issuance of equity shares of the company through a preferential issue. Though it did not disclose the company’s name in the notice, according to media reports, the board will likely take a call on the acquisition of quick commerce company Blinkit.

ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd, has made an oil discovery in the recently drilled well, Urraca-IX, in CPO5 block, Llanos Basin, Colombia. Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block, ONGC said.

Hero MotoCorp will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from July 1. The price revision will be up to ₹3,000. The exact quantum of increase will be subject to the specific model and market.

Thermax informed the exchanges that its subsidiary First Energy has acquired two companies - Jalansar Wind Energy and Kanakal Wind Energy - for Rs 1 lakh each.

The board of Maharashtra Corporation has fixed July 8, as the record date for determining the equity shareholders entitled to receive the Rights Entitlement in the Rights Issue. The size of the issue is 49.62 crore shares for an aggregate amount not exceeding ₹49.62 crore. Rights Issue Price: On Application - ₹0.25 and One or more subsequent call - ₹0.75. Rights Entitlement Ratio: 11 rights shares for every 3 held by the eligible shareholders as on the Record Date.

The Board of Directors of Route Mobile Ltd will meet on June 28 to consider a proposal for buyback of fully paid up equity shares of the Company.

Century Plyboards (India) Ltd. has made further investments to the extent of ₹20.95 crore in its Wholly Owned Subsidiary Company, Century Panels Limited through rights issue.

Jai Balaji Industries has made settlement with Corporation Bank (Now Union Bank of India) and paid off its dues and received a settlement certificate from the Bank on June 20.

Published on June 24, 2022
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