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2024-06-27 16:21:56 Why Amara Raja and Exide Industries stocks are rising | best multibagger shares 2024 |


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2024-06-27 12:12:37 SJVN, AM Ammonia in partnership for supply of renewable energy

SJVN, through its wholly-owned subsidiary SJVN Green Energy (SGEL) has signed a (MoU) with AM Green Ammonia (India) for renewable energy supply for the latter's green ammonia plants in Andhra Pradesh. AM Ammonia (India), a company under Greenko Group is developing one of the world’s largest green ammonia platforms at Kakinada. The platforms will be developed in two phases starting with a capacity of one million tonne per annum (MTPA), and ramping capacity to five MTPA by 2030,
Under the MoU, the parties have agreed for supply/sourcing of renewable energy on a long-term basis for these green ammonia plants on a mutually agreed terms and conditions. As part of this partnership, SGEL will explore setting-up of 4,500 MW RE projects in India, including 2,500-3,000 MW of solar projects, and 1,500-2,000 MW of wind projects over three phases for a supply of about 11,500 million units on annual basis.
Source: Project Today Open / Comment

2024-06-27 12:08:02 KEC International shares gain 5% on orders win worth Rs 1,025 crore

KEC International's share price rose 5 percent in the opening trade on June 27 after the company secured new orders of Rs 1,025 crore in T&D and Cables businesses.
The Transmission & Distribution (T&D) business has recently secured several significant projects across India, Africa, and the Americas. These include a 765 kV GIS Substation project in India awarded by Power Grid Corporation of India Limited (PGCIL), a comprehensive 225 kV Composite project involving Transmission lines, Substations, and Underground cabling in West Africa, and contracts for supplying towers, hardware, and poles in the Americas.
Additionally, the cables business has also received orders for various types of cables, catering to both domestic and international markets On June 7, the company secured new orders of Rs 1,061 crores across its various businesses. On June 5, the company secured orders of Rs 1,002 crores in its civil business.
Source: Money Control Open / Comment

2024-06-27 09:01:00 Winny Immigration shares list with 71% premium at ₹240 apiece on NSE SME

Winny Immigration and Education Services share price made a strong debut on Dalal Street on Thursday. Winny Immigration shares were listed at ₹240 apiece on NSE SME, a premium of 71.4% to the IPO price of ₹140 per share. Winny Immigration share listing was better than stock market expectations as the Winny Immigration IPO GMP today was ₹77 per share or 55% to the issue price.
The initial public offering of Winny Immigration and Education Services was launched on June 20 and the subscription period closed on June 24. Winny Immigration IPO allotment was finalized on June 25 and the shares got listed on NSE SME on June 27. The ₹9.13 crore worth Winny Immigration IPO was entirely a fresh issue of 6.52 lakh shares sold at a price of ₹140 per share.
The funds will also be utilised towards branding and advertising efforts to enhance market visibility and customer outreach along with with general corporate activities.
Source: Mint Open / Comment

2024-06-27 08:58:14 Dr Reddy's Labs stock gains 3% on plans to acquire Haleon's nicotine replacement biz

Shares of Dr Reddy's Laboratories rose nearly 3 percent in trade on June 27 after the company announced signing a pact to acquire UK-based Haleon Plc's global portfolio of consumer healthcare brands in the Nicotine Replacement Therapy (NRT) category outside of the US. Shares of Dr Reddy's were trading at Rs 6,203.45 apiece on the NSE.
The acquisition also includes the purchase of shares of Northstar Switzerland SARL, a Haleon group company, for a total consideration of GBP 500 million.
The portfolio to be acquired includes Nicotinell, a leader in the NRT category with a presence in over 30 countries across Europe, Asia (including Japan), and Latin America. Nicotinell is the second-largest NRT brand globally (excluding the US) and holds the first or second position in 14 of the top 17 global markets, with the lozenge or mini lozenge format being the top performer globally.
Source: Money Control Open / Comment

2024-06-27 08:55:34 DEE Stock Up 65% in Market Debut

DEE Development Engineers shares rose slightly more than 65% on their IPO day, June 26, demonstrating high interest in the piping solutions provider. Positive market mood and strong IPO subscription numbers drove the stock higher.
The stock began at ₹339 on the NSE, up 67%, well beyond analysts’ projections. It suffered some profit booking in early trades, hitting a day’s low of ₹310, but immediately gathered momentum and continued higher for the rest of the session, reaching an intraday high of ₹365.70, before completing the day 65.18% higher at ₹335.32, with volume of 3.35 Crore equity shares.
On the BSE, the stock rose 65.02% to ₹335 on a volume of 28.76 lakh equity shares. DEE Piping Systems generated ₹418.01 Crore in its debut public offering at the top end of the price band of ₹193-203 per share, which included a fresh issue of ₹325 Crore of shares and an offer-for-sale of 45.82 lakh shares for ₹93.01 Crore.
Source: IIFL Open / Comment

2024-06-27 08:35:37 Multibagger JSW Energy stock zooms nearly 4% after unit signs PPAs for 1,325 MW of RE projects

the company's wholly owned subsidiary, through its subsidiaries, had signed Power Purchase Agreements (PPAs) for wind and solar projects totaling 1,325 MW.
These agreements include 1,025 MW with the Solar Energy Corporation of India Limited (SECI) and 300 MW with Gujarat Urja Vikas Nigam Limited (GUVNL) for the supply of power for a period of 25 years with a tariff of ₹2.66/KWh. Notably, the 1,025 MW wind PPA is the largest single tranche PPA ever signed by SECI, featuring a blended tariff of ₹3.62 per kWh for a 25-year power supply period.
The company aims to reach 20 GW of generation capacity and 40 GWh of energy storage capacity before 2030. JSW Energy has set an ambitious target of achieving carbon neutrality by 2050. The company is capitalizing on a significant clean energy market opportunity in India, positioning itself as a front-runner in the emerging hydrogen economy.
Source: Mint Open / Comment

2024-06-27 08:33:10 UltraTech to buy 23% stake in India Cements for an estimated Rs 1,885 crore; shares sold in block deals

UltraTech Cement said on Thursday, 27 June that the company's board has approved the acquisition of a 23 percent equity stake in India Cements. UltraTech would buy 7.06 crore shares of India Cements at Rs 267 per share. That puts the total deal value at about Rs 1,885 crore. As much as 20 percent equity stake in India Cements was sold in the block deal window on Thursday, 27 June.
India Cements stock jumped to an intraday high and a new 52-week high of Rs 298.8, and was trading up 11.11 percent at Rs 292 in the morning trade. It extended the previous session's 14 percent gains.
On the other hand, UltraTech Cement share price jumped 5 percent to Rs 11,700 on the National Stock Exchange. The promoter group owns 28.42 percent stake in India Cements, whereas famed investor Radhakishan Damani and associates own 20.78 percent shareholding in the cement firm.
Source: Mint Open / Comment

2024-06-26 12:18:47 Mazagon Dock Shipbuilders shares jump 7.5% to touch new record high after receiving 'Navratna' status

Shares of Mazagon Dock Shipbuilders, a leading defence public-sector shipyard under the Ministry of Defence (MoD) in India, surged nearly 7.5% to reach an all-time high of ₹4,271 per share.
This jump followed the company's announcement via an exchange filing that the Department of Public Enterprises (DPE) has approved the proposal to grant Navratna status to Mazagon Dock Shipbuilders. This makes the company the 18th Navratna company among the public sector enterprises.

Navratna status is granted to public sector enterprises (PSEs) in India based on a combination of financial performance, operational efficiency, and autonomy. To qualify, a company must first be a Miniratna Category I PSE, demonstrating consistent profitability and meeting specific financial benchmarks.
Source : Mint Open / Comment

2024-06-26 09:23:03 Time Technoplast zooms 5% on bagging additional order of Rs 55 cr from IOCL

Time Technoplast stock jumps: Shares of Time Technoplast soared as much as 5.49 per cent to hit an intraday high of Rs 349.60 per share on Wednesday.
The uptick in share price came after Time Technoplast announced that it has secured an additional order for supply of Type-IV LPG composite cylinders from Indian Oil Corporation Limited (IOCL).
In an exchange filing, Time Technoplast said, “We are pleased to provide an update that the Company has received an additional order for supply of Composite cylinders (LPG) for a total value of Rs 55 crore (approximately).”
Source : Business Standard Open / Comment