6 hours ago
SUMMARY
stocks to watch, Nuvama Wealth, Vedanta, Grasim Industries, Sammaan Capital, ACME Solar Holdings, Gland Pharma, Shriram Finance, Pilani Investment, Reliance Power, Godawari Power and Ispat, Shakti Pumps, Greaves Cotton and more, these are the stocks to watch for today.
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Nuvama Wealth | Edel Finance Company and Ecap Equities are likely to divest a 7.1% stake in a financial services company through block deals, sources privy to the developments told CNBC-TV18. The stake sale is valued at approximately ₹1,734 crore and is being executed as a clean-out trade, the sources told CNBC-TV18. The transaction is priced at ₹6,800 per share, reflecting a 6.8% discount to the company’s closing price on December 11, 2024, the sources added.
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Vedanta | Anil Agarwal-owned company announced that it will hold a board meeting on Monday, December 16 to consider a fourth interim dividend. The board meeting was earlier supposed to be held in October but was cancelled due to unforeseen circumstances. In September this year, Vedanta declared its third interim dividend of ₹20 per share, following two earlier announcements of ₹11 and ₹4 respectively.
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Grasim Industries | The flagship company of the Aditya Birla Group on Wednesday said it has approved a Non-Convertible Debentures (NCDs) issue to raise ₹2,000 crore on a private placement basis. "The Finance Committee of the Board of Directors of the Company at its meeting held today, inter-alia, has approved the issuance of Non-Convertible Debentures on a private placement basis, for an amount not exceeding ₹2,000 crore, in one or more tranches," the company said in its filing to the stock exchanges.
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Sammaan Capital | The company announced plans to raise up to ₹2,500 crore through the issuance of equity shares. The funds will be raised via one or more Qualified Institutional Placements (QIPs), subject to necessary approvals. In a board meeting held on December 11, 2024, the company’s directors authorised the move, which aligns with the Securities and Exchange Board of India’s (SEBI) regulations for capital issuance. The funding will help bolster the company’s capital structure and support its ongoing operations.
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ACME Solar Holdings | Renewable energy firm said it has secured a 250 MW firm and dispatchable renewable energy (FDRE) project in the e-reverse auction held by NHPC at a tariff of ₹4.56 per unit. Notably, this project includes a greenshoe option that could potentially expand the total capacity of this project from the initial 250 MW to 500 MW. With this latest win, Acme Solar’s total capacity now stands at 6,970 MW.
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Gland Pharma | Drug firm said it has received the approval of the United States Food and Drug Administration (FDA) for phytonadione injectable emulsion USP, 10 mg/mL single-dose ampoules. The product is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), vitamin K1 injectable emulsion USP, 10 mg/mL, of Hospira, Inc. This product is indicated in coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity.
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Shriram Finance | The company announced the completion of the sale of its 84.44% stake in its housing finance subsidiary, Shriram Housing Finance Limited (SHFL), to Warburg Pincus affiliate Mango Crest Investment Ltd for ₹3,929 crore. The transaction, which has received all necessary regulatory and stakeholder approvals, marks a significant milestone for the company.
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Pilani Investment | The company said it has submitted an application to the Reserve Bank of India (RBI) requesting the conversion of the company from a non-banking financial company (NBFC) to a core investment company (CIC). "This is to inform you that the Company has today i.e 11th December 2024, submitted an application with the Reserve Bank of India for conversion of the Company from a Non-Banking Financial Company (NBFC) to a Core Investment Company (CIC)," Pilani Investment and Industries Corporation said in a regulatory filing.
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Reliance Power | Anil Ambani's company said its subsidiary, Reliance NU Suntech Private Ltd (Reliance NU Suntech), has secured a 930 MW solar energy project with a battery energy storage system (BESS) in an e-reverse auction conducted by the Solar Energy Corporation of India (SECI) on December 9, 2024. As per the terms of the tender, Reliance NU Suntech will also have to install a minimum storage capacity of 465 MW/1,860 MWh to be charged by solar power. The letter of award (LoA) is awaited from SECI.
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Godawari Power and Ispat | The company said it has entered into a seven-year agreement with GAIL (India) Ltd for the supply of regasified liquefied natural gas (RLNG). "We would like to inform you our company has entered into an agreement with GAIL (India) Ltd and exchanged the document at Raipur on 10.12.2024 for the supply of RLNG Gas for the company's upcoming pellet plant in the ordinary course of business for a period of 7 years," the company said in a regulatory filing.
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Shakti Pumps | Water pump company said it has secured a ₹754.30 crore order (inclusive of GST) from Maharashtra State Electricity Distribution Company Ltd (MSEDCL). The order entails the design, manufacture, supply, installation, testing, and commissioning of 25,000 stand-alone off-grid DC solar photovoltaic water pumping systems across Maharashtra under the "Magel Tyala Saur Krushi Pump Scheme."
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Greaves Cotton | The company at the conclusion of its board meeting on Wednesday, December 11, has finalised the Offer for Sale (OFS) component for the Initial Public Offer (IPO) of its Electric Vehicle unit. The board has approved the OFS for certain equity shares of Greaves Electric Mobility Ltd. (GEML) on Wednesday. However, the company has not specified the quantum of shares that it plans to sell through the OFS.
