2024-06-11 06:52:08
Stocks to watch-
Interglobe Aviation: Interglobe Enterprises, a promoter entity of Rahul Bhatia, is planning to sell a stake worth $394 million in Indigo Airlines' parent company, Interglobe Aviation, via a block deal. The entity currently holds a 37.75% stake in Interglobe Aviation. The proposed sale, which marks the first time in many years that Bhatia is looking to unlock value, involves offloading around 2% of his stake in the company.
Vodafone Idea: The debt-ridden telecom company announced that its board will meet on June 13 to consider a proposal to issue equity shares or convertible securities on a preferential basis to vendors. The company has been reporting widening losses and a marginal increase in annual revenue from operations.
RVNL: Rail Vikas Nigam Limited has been selected as the lowest bidder by Central Railway for work in the Amla-Nagpur Section in the Nagpur division of Central Railway, aiming to achieve a 3000 MT loading target. Separately, a consortium of Siemens and RVNL has secured a contract worth ₹394 crore from Bangalore Metro Rail Corporation Ltd (BMRC), which involves engineering, supply, erection, testing, and commissioning of various systems, to be executed within 130 weeks.
Transformers and Rectifiers India: The company has set a floor price of ₹699.95 per share for fund- raising through a qualified institutional placement.
Tata Motors: The company is offering substantial savings on a range of sought-after models including the Tiago, Altroz, Nexon, Harrier, and Safari. Discounts and benefits reach up to ₹55,000 on select MY2024 units.
IRB Infrastructure Developers: Cintra, a subsidiary of Spanish infrastructure group Ferrovial, is expected to sell up to a 5% stake in IRB Infrastructure Developers through a block deal. The deal, priced between ₹63-70.16 per share, represents up to a 10.2% discount to the last closing price. The transaction size is approximately 1,900.3 crore at the lower end of the price band.
Power Grid Corp.: The company has successfully implemented the 'Reliable Communication Scheme under Central Sector for Northern Region' from April 1.
One 97 Communications: Paytm's founder and CEO, Vijay Shekhar Sharma, is reaching out to his old allies and trusted lieutenants as he looks to revive the firm. Amidst reports of internal discord and regulatory upheaval, Sharma is taking control of various verticals to revive growth, reduce customer attrition, and shore up confidence among partners, merchants, and customers.
PVR Inox: The multiplex chain is focusing on growing its fastest-growing segment - food and beverage (F&B). The multiplex operator is partnering with EazyDiner to offer its customers up to a 25% discount on popcorn, Pepsi, and more for payments made via Eazy Diner.
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