Stocks to Watch: SpiceJet, Go Fashion, Tata Motors, Concor, Indian Oil, and Others
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Last Updated: June 12, 2023, 08:44 IST
Stocks to watch on June 12: The Nifty futures contract traded on the Singapore Exchange indicates a positive start to domestic equities. The contract was trading at 18,684.50, up 74.5 points or 0.40% from the previous close.
SpiceJet: Wilmington Trust, one of SpiceJet’s aircraft lessors, has moved the National Company Law Tribunal (NCLT) to initiate an insolvency process against the airline for non-payments of dues. The first hearing of this case will take place today.
Go Fashion: The India arm of US venture capital firm Sequoia Capital plans to sell a 10 per cent stake in Go Fashion (India) worth Rs 625 crore. The transaction is likely to happen on Monday in block deals at a floor price of Rs 1,135 a share.
Tata Motors: The company has fixed July 29 as the record date for determining the entitlement Of members to receive final dividend for FY23.
Container Corporation of India (Concor): The disinvestment of state-run firm may be delayed indefinitely because the process has hit inter-ministerial obstacles. The Ministry of Railways is not interested in the proposed 30.8 per cent stake sale, said two officials familiar with the development.
Amara Raja: The Group is all set to expand its presence in lead-acid battery through increasing its manufacturing capacity and setting sight on raising its market presence in West Asia East, South East Asia and Africa, through organic and in-organic mode. It has drawn a roadmap to increase its sales in the lead acid segment by 150 per cent to $3 billion in the next five years.
Indian Oil (IOC): The firm has walked away with half of the natural gas that Reliance Industries and its partner bp of the UK offered in the latest auction of the fuel.
Dalmia Bharat: The company plans to spend around Rs 19,000 crore to expand its cement capacity to 120 million tonnes per annum (mtpa) by 2031 to cash in on the infrastructure and housing boom, its MD and CEO Puneet Dalmia said.
Bank of India (BoI): The public sector lender plans to raise upto Rs 3,000 crore in capital through tier II bonds in the current financial year. The bank’s board has also approved a proposal to raise up to Rs 6,500 crore in FY24, of which Rs 4,500 crore would be through additional tier-I bonds/equity and balance via tier II bonds.
Cochin Shipyard: The company secured a contract worth Rs 300 crore from Indian Navy for the MR/Mid Life Upgrade of an Indian naval ship.
Titagarh Rail Systems: The company approved a proposal to raise Rs 288.8 crore through preferential allotment of shares to Smallcap World Fund Inc.
Shriram Properties: The realty firm is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand, its CMD M Murali said
Future Enterprises: The company has invited Expression of Interest for its businesses which are across manufacturing, trading and leasing of retail infrastructure across India. The last date of receipt of interest is set at June 25 and the provisional list will be out on July 5.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
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