STOCKS IN ACTION 4 JULY
Adani Transmission: GQG Partners bought an additional 3% stake worth Rs 2,633 crore in Adani Transmission. Its shareholding in the company increased to 6.54% from 3.54% earlier. The securities were acquired through the stock exchange settlement process by way of a bulk deal.
Adani Green Energy: The board will consider approving fundraising via issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6. Adani Green Energy had cancelled the meeting in May on account of non-availability of directors.
IDFC, IDFC First Bank: IDFC is set to merge with IDFC First Bank. Shareholders will receive 155 IDFC First Bank shares for every 100 IDFC shares held. Due to the merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on the March 31 financials. The merger stands in favour of the IDFC shareholders by over 16% as per the last closing price of both companies.
IndusInd Bank: IndusInd Bank promoter IndusInd International Holdings Ltd. approved a fundraise of $1.5 billion. These funds are to be used to fund Reliance Capital’s Rs 9,650 crore buyout. IIHL also agreed to raise its stake in IndusInd Bank from 15% to 26%.
Reliance Industries: Reliance Jio launched an internet-enabled phone at Rs 999. The beta trial for the first 1 million Jio Bharat phones will begin on July 7. It includes unlimited voice calls and 14 GB of data for Rs. 123 per month. Other phone brands, including Karbonn, will adopt the Jio Bharat platform to build Jio Bharat phones.
Oil India: The company revised the project capital cost of the Numaligarh Refinery to Rs 7,231 crore from Rs 6,555 crore.
Tube Investments: The company’s unit, TI Clean Mobility, signed an agreement with Jayem Automotives' promoter, Anand Jayachandran, to foray into the electric small commercial vehicle business. TI Clean Mobility will invest Rs. 160 crore, and Anand Jayachandran will invest Rs. 40 crore in the form of equity in a subsidiary under the former. It also inked a pact to acquire a 50% stake in Jayem Autom
Torrent Power: The company is implementing the Green Hydrogen Pilot Project to blend CGD. The Gorakhpur-based project will be completed in eight months. It will mix 2.5% into the CGD network. Aims to become an end-to-end green hydrogen solutions provider to commercial and industrial consumers. envisages a plan to develop green ammonia for export purposes.
Hindustan Zinc: Mined metal production in Q1 rose 2% year-on-year to 257 kilo tonnes. Saleable steel production remained unchanged at 260 kilo tonnes. Wind power generation was down 13% year-on-year to 130 million units.
Vedanta: Total aluminium production in Q1 of fiscal 2024 rose 2% year-on-year to 579 kilo tonnes. Mined metal output gained 2% from last year to its highest-ever level of 257 kilo tonnes.
Avenue Supermarts: Standalone revenue from operations for the quarter ended June 30, 2023, rose 18% year-on-year to Rs 11,584.44 crore. The total number of stores as of June 30 stood at 327.
Bajaj Finance: The company’s fresh loans grew 34% from the previous year to 99.4 lakh in Q1 FY23. Bajaj Finance’s assets under management grew 32% year-on-year to 2.7 lakh crore as of June 30, 2023. It recorded the highest ever quarterly increase in its AUM of Rs 22,700 crore in Q1 FY24. Deposits rose 46% YoY to Rs 49,900 crore in Q1. The consolidated net liquidity surplus stood at Rs 12,700 crore
Sula Vineyards: The company appointed Karan Vasani as its chief operating officer. The appointment was followed by the resignation of the present COO, Chaitanya Rathi.
Genus Power Infrastructures: The company won an order worth Rs 2,207.53 crore for the installation and commissioning of 27.69 lakh smart prepaid metres.
Adani Transmission: GQG Partners bought an additional 3% stake worth Rs 2,633 crore in Adani Transmission. Its shareholding in the company increased to 6.54% from 3.54% earlier. The securities were acquired through the stock exchange settlement process by way of a bulk deal.
Adani Green Energy: The board will consider approving fundraising via issue of equity shares or any other mode including private placement, QIP and preferential issues on July 6. Adani Green Energy had cancelled the meeting in May on account of non-availability of directors.
IDFC, IDFC First Bank: IDFC is set to merge with IDFC First Bank. Shareholders will receive 155 IDFC First Bank shares for every 100 IDFC shares held. Due to the merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on the March 31 financials. The merger stands in favour of the IDFC shareholders by over 16% as per the last closing price of both companies.
IndusInd Bank: IndusInd Bank promoter IndusInd International Holdings Ltd. approved a fundraise of $1.5 billion. These funds are to be used to fund Reliance Capital’s Rs 9,650 crore buyout. IIHL also agreed to raise its stake in IndusInd Bank from 15% to 26%.
Reliance Industries: Reliance Jio launched an internet-enabled phone at Rs 999. The beta trial for the first 1 million Jio Bharat phones will begin on July 7. It includes unlimited voice calls and 14 GB of data for Rs. 123 per month. Other phone brands, including Karbonn, will adopt the Jio Bharat platform to build Jio Bharat phones.
Oil India: The company revised the project capital cost of the Numaligarh Refinery to Rs 7,231 crore from Rs 6,555 crore.
Tube Investments: The company’s unit, TI Clean Mobility, signed an agreement with Jayem Automotives' promoter, Anand Jayachandran, to foray into the electric small commercial vehicle business. TI Clean Mobility will invest Rs. 160 crore, and Anand Jayachandran will invest Rs. 40 crore in the form of equity in a subsidiary under the former. It also inked a pact to acquire a 50% stake in Jayem Autom
Torrent Power: The company is implementing the Green Hydrogen Pilot Project to blend CGD. The Gorakhpur-based project will be completed in eight months. It will mix 2.5% into the CGD network. Aims to become an end-to-end green hydrogen solutions provider to commercial and industrial consumers. envisages a plan to develop green ammonia for export purposes.
Hindustan Zinc: Mined metal production in Q1 rose 2% year-on-year to 257 kilo tonnes. Saleable steel production remained unchanged at 260 kilo tonnes. Wind power generation was down 13% year-on-year to 130 million units.
Vedanta: Total aluminium production in Q1 of fiscal 2024 rose 2% year-on-year to 579 kilo tonnes. Mined metal output gained 2% from last year to its highest-ever level of 257 kilo tonnes.
Avenue Supermarts: Standalone revenue from operations for the quarter ended June 30, 2023, rose 18% year-on-year to Rs 11,584.44 crore. The total number of stores as of June 30 stood at 327.
Bajaj Finance: The company’s fresh loans grew 34% from the previous year to 99.4 lakh in Q1 FY23. Bajaj Finance’s assets under management grew 32% year-on-year to 2.7 lakh crore as of June 30, 2023. It recorded the highest ever quarterly increase in its AUM of Rs 22,700 crore in Q1 FY24. Deposits rose 46% YoY to Rs 49,900 crore in Q1. The consolidated net liquidity surplus stood at Rs 12,700 crore
Sula Vineyards: The company appointed Karan Vasani as its chief operating officer. The appointment was followed by the resignation of the present COO, Chaitanya Rathi.
Genus Power Infrastructures: The company won an order worth Rs 2,207.53 crore for the installation and commissioning of 27.69 lakh smart prepaid metres.
