Find out about the latest news from the stock market. From major investments to major deals, contract wins and acquisitions, here's a quick look at which stocks will be in focus in today's trading:
Stocks to keep an eye on
Welspun Corp
The company has received two additional major orders in the USA for the supply of coated pipes for a natural gas pipeline project, one each for HSAW and HFIW pipes. With the addition of these two new orders, the value of cumulative orders received by the US plant till Q3FY25 exceeds Rs 7,000 crore. These orders will be executed in FY25 and FY26. Therefore, the outlook for the US market over the next few years remains extremely positive.
Biocon
The biopharmaceutical company has received an Establishment Inspection Report (EIR) with Voluntary Action Indicated (VAI) status from the US Food and Drug Administration (US FDA) for its API facility (Site 2) in Bengaluru. This report is based on a surveillance inspection conducted by the US FDA between September 23rd and 27th.
One 97 Communications (Paytm)
The Company's subsidiary, One97 Communications Singapore (Paytm Singapore), has approved the sale of share acquisition rights (SARs) of PayPay Corporation, Japan (PayPay). These SARs, which Paytm Singapore acquired in September 2020, will be sold to a SoftBank Vision Fund 2 company for net proceeds of JPY 41.9 billion (Rs 2,364 crore). This deal values PayPay at JPY 1.06 trillion. The transaction is expected to close in December 2024.
Simple travel planner
The Company has entered into a share purchase agreement to acquire a 49.03% interest in Pflege Home Health Care Center LLC and a 49% interest in Planet Education Australia Pty. In addition, the company has signed a share purchase agreement to acquire a 50% stake in Jeewani Hospitality. Based in the United Arab Emirates, Pflege is active in the field of medical tourism and serves patients from the Indian subcontinent, Turkey, Thailand, Singapore and Malaysia. Jeewani is engaged in the construction, development and operation of hotels. Planet provides international student recruitment and coaching for various international education entrance tests such as IELTS, TOEFL, GMT, GRE and SAT.
Suven Pharmaceuticals
The pharmaceutical company will acquire a 56 percent stake in US-based NJ Bio, Inc., an ADC-focused company, at a pre-money valuation of $100 million, investing $64.4 million, including $15 million for growth initiatives. This acquisition strengthens Suven's positioning as a technology-driven CDMO with end-to-end ADC/XDC solutions.
NLC India
The company has been declared the successful bidder for the new Patrapara South coal mine in Odisha by the Coal Ministry. This is the third commercial coal mine for NLC India and the company is looking to expand its capacity.
Bajaj Healthcare
The Company's API manufacturing facility in Vadodara, Gujarat has received approval from the Therapeutic Goods Administration (TGA), Australia. The website has already received approval from the USFDA and the EU. With this recognition, the company expects to win more CDMO contracts from existing and new customers. The TGA approval is valid for 24 months.
JSW Energy
The company's subsidiary JSW Neo Energy has received a letter of award from NTPC for setting up a 400 MW solar power project. Additionally, its other subsidiary, JSW Energy (Utkal), was the successful bidder for the BARTAP coal mine in Odisha with an estimated geological reserve of 1,600 tonnes. It has signed the development and production agreement for coal mines/blocks.
Ceat
The Company has entered into one or more definitive agreements to acquire the Camso brand of off-highway construction equipment tire and track business from Michelin for $225 million. The transaction includes the company with $213 million in FY23 revenue, two manufacturing facilities and global ownership of the Camso brand after an initial three-year license period.
Godrej Consumer Products
The company said demand conditions in India have been subdued in recent months. The rise in palm oil and derivatives prices, up 20-30% year-on-year, has impacted the soap category, which accounts for a third of standalone business sales. In addition, weather conditions were not particularly favorable (delayed winters in the north and a cyclone in the south) for the home insecticides (HI) segment, which also contributes a third of the standalone business. This has impacted the growth of the home insecticides category in the current quarter. The rest of the portfolio is showing robust performance and is expected to deliver double-digit UVG (underlying volume growth). However, given the significant contribution of Soaps and HI to the overall business mix, the standalone business is expected to post roughly flat UVG and mid-single digit revenue growth in Q3FY25.
Delta Corp
The company has revised its plan related to the spin-off of its hospitality and real estate businesses. The revised plan envisages demerging the Dhargal project into Deltin Hotel & Resorts, a wholly owned subsidiary of Delta Penland, while the remaining hospitality and real estate business will be demerged into Delta Penland. There will be no change to the aforementioned share subscription ratio. Delta Penland will issue 1 new equity share of Re 1 par value to eligible shareholders for every 1 equity share of Re 1 par value issued by such shareholders to Delta Corp. is held.
Kirloskar oil engines
Aseem Srivastav has resigned as chief executive officer of the B2C division, effective December 31, as he takes on a new role within the group. Rahul Sahai's designation was changed from Chief Executive Officer of the B2B business to Chief Executive Officer of the Company, effective January 1, 2025.
Wipro
The technology services and consulting company announced a collaboration with SIAM.AI, a member of the NVIDIA Cloud Partner Program in Thailand. The companies will use accelerated computing and software from NVIDIA to develop an AI-powered digital assistant for the Tourism Authority of Thailand.
RITES
The company has been awarded a $9.7 million contract by the Government of Guyana to expand the Palmyra to Moleson Creek highway.
A Minda
The company's 4W lighting plant in Khed, Pune has started commercial production. The same will be expanded gradually in the future.
link
The company has set December 20 as the deadline for splitting shares and issuing bonus shares. It will divide each equity share of face value of Rs 10 into two shares of face value of Rs 5 each and also issue bonus shares in the ratio of 1:1.
Poonawalla Fincorp
Dhiraj Saxena has resigned as the company's Chief Technology Officer due to harassment by the CHRO.
Shree Renuka Sugar
The National Company Law Tribunal (NCLT) has approved the merger of Monica Trading, Shree Renuka Agri Ventures and Shree Renuka Tunaport with the company. All three companies are wholly owned subsidiaries of the Company.
Power of trust
The company's subsidiary, Samalkot Power, has fully settled its outstanding default interest on its term loan with the Export-Import Bank of the United States. The actual amount of the default was $15.48 million. After payment by Samalkot, the company's default as guarantor for the above loan is cured.
Alembic Pharmaceuticals
The pharmaceutical company has dissolved its six spin-off subsidiaries, namely Okner Realty LLC, Alembic Labs LLC, Alnova Pharmaceuticals SA, Dahlia Therapeutics SA, Genius LLC and Alembic Mami SpA. None of the companies were operational.
Laurus Labs
The company's subsidiary Laurus Bio has signed a definitive agreement for an investment of Rs 120 crore from Eight Roads Ventures and F-Prime Capital. Laurus Labs also agreed to invest an additional Rs 40 crore in Laurus Bio at the same value. Upon completion of the transaction, the Company, Eight Roads Ventures and the promoters of Laurus Bio will hold 75%, 14% and 9% stake respectively. The company will use the capital injection to further expand its fermentation-based production capacities.
Star Health and Allied Insurance Company
The company has received a show cause notice from the Insurance Regulatory and Development Authority of India (IRDAI) for non-compliance with various IRDAI regulations and guidelines. IRDAI had conducted a general inspection from January 31, 2022 to February 11, 2022.
Bulk offers
Himatsinka silk
Royal Bank of Scotland Plc, as trustee of Jupiter India Fund, sold half a percentage stake in the company at an average price of Rs 195.22 per share worth Rs 13.48 crore.
Cybertech systems and software
Rational Equity Flagship Fund I sold 0.5% stake in the company at an average price of Rs 224.05 per share, translating to Rs 3.6 crore.
Pranik Logistics
Pine Oak Global Fund sold 0.58% stake in the logistics company at an average price of Rs 89.66 per share. However, Moneyplant Gold & Jewelery Trading LLC bought 0.7% shares at an average price of Rs 90.53 per share.
Motherboard listing on December 9th
Real estate share REIT
F&O BanPVR INOX, RBL Bank, Granules India, Manappuram Finance