Stocks to Watch: PVR INOX, PB Fintech, Hero MotoCorp, M&M Financial And Others - News18
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Stocks To Watch Today: Investors found optimism in the US Federal Reserve’s accommodative outlook for 2024, featuring anticipated rate cuts commencing in the upcoming year. As trading concluded on Thursday, the Sensex recorded a gain of 929.60 points or 1.34 percent, reaching 70,514.20, while the Nifty rose by 256.40 points or 1.23 percent to reach 21,182.70.
Stocks To Watch Today On December 15
PVR INOX: According to sources, Plenty Private Group and Multiples Private Group are considering the sale of a 2.33 percent stake in the multiplex chain. The quoted offer price is anticipated to fall within the range of Rs 1,750 to Rs 1,769.5 per share, with the potential offer size reaching Rs 404.5 crore, as reported by CNBC-TV18.
State Bank of India: The largest public sector lender in the country has finalised transaction documents to acquire a 6.35 percent stake, equivalent to 3,70,644 shares, in Canpac Trends. This company specializes in providing paper-based packaging solutions. The acquisition is valued at nearly Rs 50 crore, with the purchase price set at Rs 1,349 per share.
Hero MotoCorp: The largest manufacturer of two-wheelers in the country is set to acquire an additional stake in its associate company, Ather Energy, from an existing shareholder, with the transaction valued at up to Rs 140 crore. Following this deal, Hero’s ownership in Ather Energy will rise from 36.7 percent to 39.7 percent. The completion of the share acquisition is expected by January 31, 2024. Additionally, Hero has named Vivek Anand as the Chief Financial Officer (CFO), effective March 1, 2024. Vivek previously served as the CFO at DLF for the past four years. Furthermore, Rachna Kumar has been appointed as the Chief Human Resources Officer (CHRO), with prior experience in the same role at Whirlpool Asia.
PB Fintech: The financial services platform disclosed that income tax officials conducted a visit to Paisabazaar Marketing and Consulting Private Ltd on December 13 and 14, 2023. According to a regulatory filing by PB Fintech, the officials sought information related to specific vendors associated with Paisabazaar.
Texmaco Rail and Engineering: The engineering major within the Adventz group announced that it has secured a work order valued at Rs 1,374.41 crore from the Ministry of Railways.
Genus Power Infrastructures: On Thursday, the company announced that its wholly-owned subsidiary has been granted a Letter of Award valued at Rs 1,026.31 crore. The award pertains to the appointment of Advanced Metering Infrastructure Service Providers, encompassing the design of an Advanced Metering Infrastructure system.
M&M Financial Services: The non-banking finance company has received approval from its Board of Directors to engage in the additional business activity of soliciting and procuring insurance business as a corporate agent. This includes areas such as life, health, and general insurance for both group and individual policies. However, the commencement of this activity is contingent upon obtaining the necessary approvals from the Insurance Regulatory and Development Authority of India (IRDAI) and receiving no objection from the RBI or other regulatory authorities. Concurrently, Rajesh Vasudevan has submitted his resignation as the Chief Compliance Officer (CCO) and Senior Management Personnel (SMP) of the company, citing the pursuit of personal interests. The effective date of his resignation is set for the close of business hours on January 13, 2024.
Mazagon Dock Shipbuilders: In Kochi, the government-owned shipbuilding firm has unveiled SaurShakti, the fastest solar-electric boat in India. This innovative vessel is the result of a partnership between Mazagon Dock Shipbuilders and NavAlt Solar Electric Boat, Kochi.
Bharat Heavy Electricals: BHEL and the Central Manufacturing Technology Institute (CMTI), an autonomous institution under the Ministry of Heavy Industries, have signed a Memorandum of Understanding (MoU) to collaborate on technology development. This collaboration will focus on advancing technology in the areas of the hydrogen value chain and Industrial Internet of Things (IIoT) solutions for predictive maintenance in machinery and manufacturing processes.
Vedanta: On December 18, Vedanta is set to review and sanction the second interim dividend for equity shares.
Gandhar Oil Refinery: The stock will be in focus ahead of the announcement of July-September quarter earnings on December 15.
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. Readers are advised to check with certified experts before taking any investment decisions.
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