On Tuesday, June 11, several key stocks are poised to capture the attention of investors, reflecting significant developments across various sectors. Notably, the NSE F&O ban list for the day includes India Cements, Balrampur Chini, SAIL, and Zee Enterprises, signalling regulatory measures that traders must heed.
Interglobe Aviation, the parent company of IndiGo Airlines, has taken a notable step as Interglobe Enterprises, a promoter entity led by Rahul Bhatia, plans to divest a $394 million stake through a block deal. This marks Bhatia’s first significant divestment in years, reducing his stake by around 2%. This move is perceived as a strategy to unlock value, potentially influencing the stock’s market performance.
Vodafone Idea, grappling with escalating debts and widening losses, has announced a critical board meeting on June 13. The agenda includes discussing a proposal to issue equity shares or convertible securities on a preferential basis to vendors. This decision comes at a time when the telecom giant is striving to stabilize its financial health amidst a marginal increase in annual revenue.
RVNL has secured significant contracts that promise to enhance its revenue and market positioning. RVNL emerged as the lowest bidder for a project in the Amla-Nagpur section of Central Railway and, in collaboration with Siemens, clinched a ₹394 crore contract from Bangalore Metro Rail Corporation Ltd. These projects underline RVNL’s growing footprint in India’s infrastructure landscape.
Tata Motors is making headlines with substantial savings on popular models like the Tiago, Altroz, Nexon, Harrier, and Safari. Offering discounts and benefits up to ₹55,000 on select 2024 units, Tata Motors aims to boost its sales amidst stiff competition in the automotive market.
IRB Infrastructure Developers is also in the spotlight as Cintra, a subsidiary of the Spanish infrastructure group Ferrovial, plans to sell up to a 5% stake through a block deal. Priced between ₹63-70.16 per share, this transaction, representing a significant discount to the last closing price, may temporarily pressure IRB’s stock but signifies strategic portfolio adjustments by major shareholders.
Jubilant Foodworks, the master franchise operator for Domino’s in India, has ambitious plans to double its outlets to 4,000 over the next four years. With an annual target of approximately 200 new stores, the company is poised for aggressive expansion, reflecting confidence in India’s growing market.
Power Grid Corporation of India has successfully implemented the ‘Reliable Communication Scheme under Central Sector for Northern Region,’ enhancing the reliability and efficiency of the power grid. This initiative is crucial for regional power stability, contributing to the company’s strategic infrastructure developments.
Under One 97 Communications, Paytm sees its founder and CEO Vijay Shekhar Sharma taking active steps to revive the firm. Amidst reports of internal discord and regulatory upheaval, Sharma is focusing on regaining control of various verticals to drive growth, reduce customer attrition, and boost confidence among stakeholders.
PVR Inox is leveraging its food and beverage segment through a partnership with EazyDiner, offering up to a 25% discount on items like popcorn and Pepsi. This collaboration aims to enhance customer experience and maximize revenue from high-margin segments.
Kalpataru Projects International’s board has approved raising ₹300 crore through Non-convertible Debentures. This move is part of the company’s strategy to secure capital for ongoing and new projects, signaling a robust growth and expansion plan.
In another significant development, major investors including Kotak Mahindra Mutual Fund, Morgan Stanley, and Societe Generale have purchased Mphasis shares worth nearly ₹1,900 crore. This follows Blackstone’s divestment of a 15.1% stake, indicating market confidence in Mphasis’s future performance.
Suzlon Energy clarified there are no financial irregularities following the resignation of its independent director, Marc Desaedeleer. This statement aims to maintain investor confidence amidst concerns raised over corporate governance issues.
Bank of India has acquired a 6.125% stake in Clearing Corporation of India Ltd. (CCIL) IFSC, reflecting its commitment to the growth of GIFT City, India’s operational international financial services center.
Havells India announced a strategic partnership with the UAE-based Jumbo Group to enter the kitchen appliances market. This move aims to expand Havells’ market presence through Jumbo’s robust distribution network.
Infosys has partnered with GitHub to launch the first GitHub Center of Excellence. This collaboration is set to streamline software production processes, enhancing Infosys’s service offerings.
NLC India has approved plans to raise up to $600 million through External Commercial Borrowings (ECB) and invest ₹994.50 crore in its renewables subsidiary, reflecting its focus on business expansion and renewable energy projects.
