Several companies are poised to be in the spotlight on Wednesday, June 19, with significant developments concerning Indus Towers, HUDCO, Birla Cables, Vikram Solar, Midhani, and others.
On Wednesday, June 19, several stocks are expected to be active due to various corporate actions and financial updates. Here's a rundown of the key stocks to watch:
State Bank of India (SBI): SBI has reportedly commenced discussions to potentially raise approximately ₹10,000 crore ($1.20 billion) through the issuance of infrastructure bonds.
Indus Towers: Vodafone Group Plc is planning to divest a 9.94% stake in Indus Towers via a bulk deal. The shares are offered at a price range between ₹310 and ₹341 per share. Morgan Stanley, BofA Securities, Jefferies, and BNP Paribas are managing the sale, which is scheduled to open on Wednesday.
Housing and Urban Development Corporation (HUDCO): HUDCO has successfully raised $200 million (JPY 30 billion) in its debut syndicated loan market venture. The state-run entity secured the five-year funding as part of its inaugural “social loan,” as facilitated by Japan’s Sumitomo Mitsui Banking Corporation (SMBC).
Vodafone Idea: The telecom company is expected to request the government to convert the annual installment for spectrum payments for FY26/FY27 into equity. These payments will be due after the moratorium period concludes in September 2026.
Birla Cables: The company may be subject to an 8.7% provisional anti-dumping duty on the CIF Union border price, as proposed by the European Commission. If this is implemented, exports of single-mode optical fiber cables to the European Union would be impacted.
Vedanta: In its latest annual report, Vedanta informed investors that its UK-based parent entity, Vedanta Resources, aims to reduce its debt by $3 billion over the next three years.
Kotak Mahindra Bank: Following the completion of Zurich Insurance Company's acquisition of 70% of the share capital, Kotak Mahindra Bank now holds a 30% stake in Kotak General Insurance Company.
Kalpataru Projects International: The customs authority has ordered the company to pay a customs duty of ₹84.40 lakhs, along with an equivalent penalty, for alleged misclassification of the tariff item code of imported goods. An additional penalty of ₹7.86 lakhs has also been demanded. The board has recommended a final dividend of ₹8 per equity share for FY 2023-24, with a record date of June 28 and payment scheduled by August 13.
Tech Mahindra: The Mahindra group intends to maximize Tech Mahindra's potential through cross-selling and synergies within the group. Tech Mahindra plans to expand its network by leveraging its group relationships, maintaining a strong presence in the auto, industrial, and aerospace and defense sectors.
Siemens and ABB: According to Jefferies, these companies are expected to be significant beneficiaries of increased power consumption driven by data-center capacity additions in India and globally.
Vikram Solar: The company has secured an order to supply 393.9 MWp solar modules for NLC India’s solar project in Gujarat, bringing Vikram Solar’s total PV module supply contract to the Khavda Solar Park to over 1 GW.
Mishra Dhatu Nigam (Midhani): Midhani is reportedly in discussions with aircraft engine manufacturer Pratt & Whitney (P&W) for the supply of engine components.
Zee Entertainment Enterprises (ZEEL): ZEEL has appointed Mukund Galgali as the acting chief financial officer (CFO), following the decision of current CFO Rohit Kumar Gupta to step down for personal reasons.
Infosys: Infosys is offering an attractive transfer policy to encourage employees to relocate to Hubballi, Karnataka, as part of its strategy to establish offices in Tier-2 cities. This policy targets employees at band 2 and above, with varied relocation allowances.
Prestige Estates: The company has scheduled a board meeting on June 21 to discuss and approve various fund-raising methods, including qualified institutions placements, preferential issue, rights issue, private placement, or other capital raise options.
ZF Commercial: Wabco Asia is anticipated to sell a 5% stake in ZF Commercial through a block deal at a floor price of ₹14,980 per share, as per sources.
Ami Organics: The specialty chemicals manufacturer has launched its Qualified Institutional Placement (QIP) with a floor price set at ₹1,228.7 per share, aiming to raise ₹500 crore. A board meeting is set for June 21 to determine the issue price.
Apeejay Surrendra Park Hotels: The company has signed a new hotel under ‘The Park’ brand in Nainital, Uttarakhand.
Mrs Bectors: A meeting is scheduled for June 24 to consider proposals for raising funds.
Tata Technologies: The company has launched the second edition of the Tata Technologies InnoVent Hackathon in collaboration with Microsoft and Tata Motors.
Netweb Technologies: The company has introduced its Make-in-India range of servers designed to leverage the capabilities of the 4th Gen AMD EPYC processors.
Bharat Forge: An additional $40 million has been invested in Bharat Forge America Inc. to support capital expenditure for an aluminum forging facility.
Rama Paper Mills: The company has temporarily ceased operations at its Uttar Pradesh manufacturing plant due to financial difficulties.
Snowman Logistics: Gateway Distriparks, the promoter, has purchased 3 lakh equity shares, or 0.18% of the company, through an open market offer.
Rajoo Engineers: A meeting is scheduled for June 24 to consider a proposal for the declaration and recommendation of bonus equity shares.
Craftsman Automation: The company has approved raising funds by issuing equity shares for up to ₹1,200 crore through qualified institutions placement.
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