Stocks to watch: Shares of firms like Vedanta, Godrej Properties, BoB, HDFC Bank, Biocon, NBCC, and others will be the focus of Thursday’s trade.
Stocks to watch on November 28: Domestic markets remained in a narrow range for the third consecutive session, slightly higher and continuing their consolidation phase. Today, shares of several companies, including Waaree Renewable, Godrej Properties, Vedanta, PCBL, and Natco Pharma, will be in focus due to notable news developments.
Adani Group Stocks: Adani Green Energy said three of its top executives – Gautam Adani, Sagar Adani, and Vineet Jain – are not involved in charges filed by US authorities under the Foreign Corrupt Practices Act (FCPA). The Department of Justice (DoJ) indictment, which includes five charges, does not name the three executives in connection with “conspiracy to violate the FCPA” or “conspiracy to obstruct justice.” This follows bribery charges filed by the US SEC last week against Gautam Adani and others related to Adani Green Energy Limited (AGEL) projects.
Public Sector Bank (PSB) Stocks: Public sector banks (PSBs) have received approval from the finance ministry to raise Rs 25,200 crore through the equity market in the financial year 2024-25. The initiative aims to strengthen the growth of PSBs and meet the regulatory requirement of 25% minimum public shareholding.
Vedanta: Moody’s upgraded Vedanta Resources Limited’s (VRL) corporate family rating from B3 to B2, citing successful liability management efforts. Additionally, Vedanta Aluminum has partnered with PwC India to enhance biodiversity conservation and reduce carbon emissions in Jharsuguda, Odisha.
Mahindra & Mahindra: Mahindra & Mahindra has committed Rs 4,500 crore to develop two new electric vehicle brands, including ramping up production capacity.
Godrej Properties: Godrej Properties offered Qualified Institutional Placement (QIP) to raise up to Rs 6,000 crore to support its growth initiatives.
Bank of India (BoI): Bank of India raised Rs 5,000 crore through a 10-year infrastructure bond issue, offering a coupon rate of 7.41%.
Bank of Baroda (BoB): Bank of Baroda has raised Rs 3,500 crore by issuing Basel III compliant Tier-2 bonds at a coupon rate of 7.41%.
HDFC Bank: HDFC Bank launched the Pragati Savings Account, which aims to cater to the banking needs of rural and semi-urban residents across India.
Biocon: Biocon Biologics, a subsidiary of Biocon, announced progress in its ‘Embedding Specialist Nurses in Diabetes Care’ project in Diabetes Africa and Ethiopia in collaboration with St Paul’s Hospital Millennium Medical College.
Emami Reality: Emami Realty plans to develop 22 million square feet of residential and commercial space over the next seven years, with a revenue potential of Rs 15,000 crore.
KEC International: KEC International has bagged prestigious turnkey orders worth Rs 1,704 crore from Power Grid Corporation of India Limited (PGCIL) in its Transmission and Distribution (T&D) business for design, supply and installation of 765 kV transmission lines and GIS substations.
Aster DM: Aster DM Healthcare has entered into an agreement to acquire the remaining 13% stake in Aster Aadhar Hospital (formerly Prerana Hospital).
Hero MotoCorp: Hero MotoCorp has launched a program to support startups in the automotive industry.
NBCC: NBCC has signed a Memorandum of Understanding (MoU) with HUDCO for a Rs 600 crore project to develop a 10-acre land parcel in Noida.
Waaree Renewable: Waaree Renewable Technologies received an order worth Rs 1,233.5 crore for a land-mounted solar PV project with a capacity of 2012.47 MWp DC.
Netco Pharma: Netco Pharma sold 14.38 acres of land in Ranga Reddy district, Telangana for Rs 115.57 crore.
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