Stocks to Watch: CG Power, JK Cement, Reliance Infra, Bank of India and more

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CG Power | The company is looking to raise funds of around ₹3,000 crore via a qualified institutional placement (QIP) that is likely to be launched soon, sources familiar with the matter told CNBC-TV18 on Monday, June 30. The company has reportedly roped in Dam Capital, HSBC and IIFL bankers to advise on the transaction. Details on the amount of equity the company is planning to dilute or the proposed buyers are not immediately available.

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JK Cement | The company has declared a final dividend of ₹15 per equity share for the financial year 2024-25, the company said in a regulatory filing on Monday (June 30). The dividend, which amounts to 150% on the face value of ₹10 per share, was approved by the company’s board of directors at its meeting held on May 24, 2025. The company has now informed the exchanges about the record date.

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Reliance Infrastructure | Reliance Defence announced a strategic partnership with US-based Coastal Mechanics to tap into India's expanding defence maintenance, repair & overhaul (MRO) and upgrade market, valued at around ₹20,000 crore. The collaboration will focus on delivering end-to-end MRO, upgrade and lifecycle support services for a range of Indian defence platforms, the company said in a statement on Monday, June 30.

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Bank of India | The bank announced a downward revision in its Marginal Cost of Funds-based Lending Rate (MCLR) across all tenors by 5 basis points, effective July 1, 2025, even as its Repo-Based Lending Rate (RBLR) remains unchanged. The state-owned lender also revised the Fixed Rate Spread (FRS) for retail loans, which now stands at 1.50%. Accordingly, the interest rate for fixed-rate retail loans, benchmarked to the 3-year MCLR, is set at 10.65%, effective July 1, 2025.

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YES Bank | Private sector lender announced a change in its board of directors following the resignation of Shweta Jalan, Non-Executive Director and nominee of Verventa Holdings Ltd. Her resignation, submitted via a letter dated June 26, 2025, was formally taken on record by the board at its meeting held on June 27. With this, she also steps down from her roles in the relevant board committees.

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Astec LifeSciences | The company announced a rights issue of equity shares worth ₹249.35 crore, following board approval. The issue comprises 28,01,673 fully paid-up equity shares at a price of ₹890 per share, including a premium of ₹880. The offer is made on a rights basis to existing shareholders in the ratio of 1:7.

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HCLTech | IT major, announced a multi-year strategic partnership with OpenAI, the US-based artificial intelligence research and deployment company, to drive large-scale generative AI (GenAI) adoption across global enterprises. The collaboration aims to support enterprise clients in scaling GenAI solutions for business transformation, the company said in a regulatory filing to Indian stock exchanges.

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NCC | Infrastructure company announced the receipt of new orders worth ₹1,690.51 crore (excluding GST) in June 2025. These orders went to the company’s building division and were awarded by various state government agencies and a private limited company. The company clarified that all orders are external and do not include any internal work allocations.

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Torrent Pharma | The company said it expects to complete its ₹19,500-crore acquisition of JB Chemicals and Pharmaceuticals over the next 15 to 18 months, marking the second-largest deal in Indian pharma history. As part of the multi-stage transaction, Torrent will initially acquire a 46.39% stake from JB Chemicals' promoter, Tau Investment Holdings Pte Ltd, a global investment firm, for approximately ₹11,917 crore.

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Federal Bank | South India-based private lender said the board has approved a comprehensive fundraising plan through both equity and debt routes, subject to necessary shareholder and regulatory approvals. On the equity front, the bank aims to raise capital through various instruments such as a rights issue, preferential issue, further public offer (FPO), qualified institutional placement (QIP), global depository receipts (GDR), American depository receipts (ADR), foreign currency convertible bonds (FCCBs), or a combination of these.

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Bharat Electronics | Navratna Defence PSU announced that it has received fresh orders worth ₹528 crore since its last disclosure on June 20, 2025. The newly secured contracts include a range of defence and strategic equipment such as radars, communication systems, electronic voting machines (EVMs), jammers, shelters, control centres, spares, and related services.

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Aavas Financiers | Housing finance company announced that Aquilo House Pte. Limited has become its new promoter, following the acquisition of a 48.96% stake through a combination of an open offer and multiple share purchase agreements. The acquisition includes 1,78,08,116 equity shares (22.50% of the company’s equity) tendered under the open offer announced on August 10, 2024, and completed on March 22, 2025.

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Bharat Forge | Global metal forging company, said its board has approved two key strategic actions — an internal restructuring of its defence business and an upward revision in the acquisition cost of AAM India Manufacturing Corporation Private Limited. As part of the internal restructuring, Bharat Forge will transfer identified assets and related obligations of its defence business to its wholly owned subsidiary, Kalyani Strategic Systems Ltd (KSSL), via an itemised sale.

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Grindwell Norton | The company has recommended a final dividend of ₹17 per equity share for the financial year ended March 31, 2025, the company stated in its notice for the upcoming Annual General Meeting (AGM). If approved, the dividend will be paid starting July 29, 2025. The record date for determining eligible shareholders for the dividend has been fixed as July 15, 2025.

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Apollo Hospitals | The company said its board has approved the separate listing of its omni-channel pharmacy and digital health businesses within 18–21 months, as part of a broader reorganisation to unlock value. The board of directors of Apollo Hospitals and its subsidiary Apollo HealthCo have given in-principle approval for a composite scheme of arrangement.

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Kalpataru Projects | The company, along with its international subsidiaries, has secured new orders and notification of awards worth approximately ₹989 crore. The fresh orders pertain to the power transmission & distribution (T&D) segment in overseas markets.

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Godrej Industries | The firm has invested an additional ₹285 crore in its subsidiary, Godrej Capital. Following this investment, the company's shareholding in Godrej Capital has increased from 89.48% to 90.89%.

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Uno Minda | Auto components maker has completed the acquisition of 1.69 crore shares, representing a 49.90% stake in UnoMinda EV Systems Private Limited, from its joint venture partner FRIWO GmbH for ₹141.27 crore. With this transaction, Uno Minda gains full ownership of the EV systems subsidiary.