3 days ago
SUMMARY
Stocks to watch, Mazagon Dock Shipbuilders, ITC, EaseMyTrip, Hindalco Industries, Shriram Properties, RVNL and more, these are the stocks to watch for today.
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Mazagon Dock Shipbuilders | The Ministry of Defence (MoD) said it has signed a contract valued at ₹1,990 crore with the company for the construction of an air independent propulsion (AIP) plug based on technology developed by the Defence Research and Development Organisation (DRDO). The AIP plug will be integrated into Indian submarines to significantly increase their underwater endurance.
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ITC | Kolkata-based diversified conglomerate announced that ITC Hotels will be listed on stock exchanges within 60 days of receiving the Company Law Tribunal (NCLT) order dated December 16, 2024. The demerger of ITC's hotel business into ITC Hotels, sanctioned by the NCLT, is set to take effect on January 1, 2025. January 6, 2025, has been fixed as the record date to identify ITC shareholders eligible for allotment of ITC Hotels equity shares.
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EaseMyTrip | Co-founder Nishant Pitti is set to sell his remaining 14.21% stake in the company for ₹780 crore via a block deal on December 31, according to CNBC-TV18 sources. Pitti will reportedly offload 50 crore shares at a floor price of ₹15.6 per unit. Institutional investors such as CRAFT Emerging Market Fund PCC - Citadel Capital Fund, CRAFT Emerging Market Fund PCC - Elite Capital Fund, Multitude Growth Funds Ltd, Nexpact Ltd and Eminence Global Fund are expected to participate in the transaction.
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Hindalco Industries | Aditya Birla Group's metal flagship said it has been allocated the Meenakshi coal mine in Odisha. The allocation was formalised through a vesting order issued by the Ministry of Coal. This development follows the successful signing of the Coal Mine Development and Production Agreement (CMDPA) on November 22, 2024, marking a pivotal step in the company’s journey towards resource securitisation, energy efficiency and sustainable growth.
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Shriram Properties | Realty firm announced the strategic sale of a 3.9-acre land parcel in Chennai to a prominent healthcare and educational group based in South India. The company, through its wholly-owned subsidiary — SPL Shelters Private Ltd — owned a 3.9-acre land, currently approved for the development of a retail space.
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RVNL | State-owned company said it has been declared the lowest bidder (L1) by Central Railway for a project involving the design, supply, erection, testing, and commissioning of a 132/55 KV traction substation, sectioning posts and sub-sectioning posts in the Bhusaval-Khandwa section. The contract is aimed at upgrading the 2x25 KV traction system, employing Scott-connected transformers to support a loading target of 3,000 MT.
