Markets

Stocks that will see action on Nov 16

K.S. Badri Narayanan | Updated on November 16, 2021

Buzzing stocks are Escorts, Macrotech, Ashok Leyland, Phoenix Mills, Bharti Airtel, STL, Power Mech, and Shreyas Shipping

Escorts: Escorts Agri Machinery, a farm machinery division of the company, said that it would increase tractor prices from November 21 to offset the rise in commodity prices. Besides, the board will meet on November 18 to consider and approve and evaluate proposals for raising funds by way of issue of bonds/ debentures/ non-convertible debt instruments/ securities and/or any other instruments/ equity shares/ any other securities, including through preferential issue on a private placement basis, qualified institutions placement, rights issue or any other methods.

Macrotech Developers: The realty firm has raised Rs 4,000 crore through sale of shares to institutional investors, according to sources. The company on Monday launched the Qualified Institutional Placement (QIP) to raise funds. The Board of Directors is scheduled to meet on November 18 to consider and approve the issue price, including a discount, if any, to it as permitted under the SEBI ICDR Regulations, for the Equity Shares to be allotted to qualified institutional buyers, pursuant to the Issue.

Ashok Leyland: The Hinduja group flagship firm is working on hydrogen-powered commercial vehicles and a team is currently engaged in developing them. For the time being, the company would stick to the Rs 750 crore earmarked for taking up the capital expenditure plan this financial year.

Phoenix Mills and Canada Pension Plan Investment Board (CPP Investments) have announced a new joint venture to develop an office-led mixed-use asset in Lower Parel, Mumbai. The asset forms part of a larger mixed-use development at Phoenix Palladium, Mumbai. CPP Investments will commit to investing approximately Rs 1,350 crore (C$231 million1 ) in tranches, for an ultimate equity stake of 49 per cent in Plutocrat Commercial Real Estate Private Limited (PCREPL), the entity that will own the asset. With the funds invested by CPP Investments and PML, PCREPL will develop office space with a potential leasable area of approximately one million sq. ft. and flagship retail space with a potential leasable area of approximately 0.2 million sq. ft. The target completion date for the development is 2026.

Shreyas Shipping and Logistics has announced the acquisition of one bulk carrier vessel. With this acquisition, Shreyas embarks on a new line of business of owning bulk carrier vessels. This is Shreyas' first bulk carrier, which has been acquired for $14.175 million. The second bulk carrier vessel is expected to be delivered by the end of November 2021.

STL, an industry-leading integrator of digital networks, has announced key initiatives to strengthen its presence in the Middle East, Africa (MEA) region by forming new partnerships, setting up a centre of excellence and expanding its team. The MEA region represents two sides of the global digitisation landscape. On the one hand, advanced economies in the region are leading the way in 5G and smart living and on the other hand, in Africa, around 0.84 billion people (out of 1.37 billion) still remain to be connected. A thriving digital economy can add about $230 billion to the region's annual GDP.

Power Mech Projects Ltd has received letters of intent for Rs.725.17 crore: Four laning of NH-365A from Kodad (Design Km 0.00 / Existing Km 185 of NH-65) to Khammam (Design Km 31.800 / Existing Km 29.400) (Design Length = 31.800 Km) in Telangana under Bharatmala Pariyojana on Hybrid Annuity Mode for NHAI. Project worth Rs. 645 crore.

Bharti Airtel has announced that it has formed a Committee of Board of Directors (ESG Committee) to sharpen its focus towards its Environmental, Sustainability and Governance (ESG) agenda. Manish Kejriwal, Lead Independent Director on the Board will be the Chairman of the ESG Committee. Other Board members on the Committee are D.K. Mittal, Independent Director; Nisaba Godrej, Independent Director; Rakesh Bharti Mittal, Non-Executive Director and Gopal Vittal, Managing Director & CEO (India and South Asia).

KPI Global Infrastructure Limited has informed BSE that it has bagged a new order for executing solar power projects of 2.60 MWdc capacity under the 'Captive Power Producer (CPP)' Segment. The projects are Manish Packaging Private Limited - 1.40 MWdc; and Revival Papers Mill Private Limited - 1.20 MWdc.

Ashiana Housing Ltd has entered into agreement to develop a residential project in Jaipur on a revenue-sharing basis.

Sharika Enterprises has received an order from Punjab Energy Development Agency for Design, Supply, Installation and Commissioning, including 12 Watt LED-based 500 Solar Lighting Systems with 12.8-30Ah, Lithium Ferro Phosphate Battery with five years warranty amounting ₹81,30,000 including taxes.

Foods & Inns Ltd has obtained approval from the National Stock Exchange to listcompany's shares only on its platform.

Published on November 16, 2021

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