Stocks To Watch On June 25: Domestic markets started the week on a positive note even as global cues were mixed. In today’s trade, shares of Happiest Minds, IREDA, Maruti Suzuki, RBL Bank, and Shree Cement among others will be in focus due to various news developments.
Happiest Minds: According to reports, IT firm promoter and executive chairman Ashok Soota has initiated a block deal to sell a 6 per cent stake in the company, aiming to raise Rs 754 crore. The floor price for the sale is set at Rs 826 per share.
Indigo: IndiGo has announced the launch of additional daily non-stop flights between Mumbai and Jeddah from August 15, 2024. The airline plans to double its weekly flights to 14 on this route.
AU Small Finance Bank:The Board of AU Small Finance Bank will convene on June 27, 2024, to discuss raising funds through the issuance of equity shares via private placement, QIP, preferential allotment, or other alternative modes.
Muthoot Capital Services: Muthoot Capital Services has received board approval to register as a corporate agent with the Insurance Regulatory and Development Authority of India (IRDAI).
Borosil: Borosil has begun its Qualified Institutions Placement (QIP) after board approval, fixing the floor price at Rs 331.75 per share. The company aims to raise up to Rs 250 crore through this route.
Swan Energy: Swan Energy is set to acquire a 49 per cent equity stake in Triumph Offshore Private Ltd (TOPL) from Indian Farmers Fertiliser Cooperative Ltd (IFFCO) for Rs 440 crore. This acquisition involves 26,21,50,000 equity shares of Rs 10 each, approved during a recent Board of Directors meeting.
Amara Raja:Amara Raja’s subsidiary, Amara Raja Advanced Cell Technologies Private Ltd, has signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co Ltd.
RBL Bank: RBL Bank’s board will meet on June 27, 2024, to consider proposals for raising funds through a QIP and issuing debt securities in one or more tranches on a private placement basis.
IREDA: State-owned IREDA sanctioned Rs 37,354 crore loan and disbursed Rs 25,089 crore in FY24, the company’s CMD PK Das said.
Shree Cement: India’s third largest cement manufacturer Shree Cement announced achieving installed power capacity of 1,000 MW with the commissioning of a 19.5 MW solar power plant at its Andhra Pradesh unit.
Maruti Suzuki: India’s leading carmaker Maruti Suzuki received a GST demand notice of Rs 5.4 crore for period July 2017 to March 2023.
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