Stocks to watch: Shares of firms like Vodafone Idea, Indus Towers, IGL, Axis Bank, Bharat Forge, and others will be the focus of Thursday’s trade.
Stocks to watch on December 5: Markets had a volatile session, ending nearly flat after three consecutive days of gains. In today’s trade, stocks of Vodafone Idea, Indus Towers, Torrent Pharma, Bharat Forge, Indraprastha Gas, and others will be in focus due to various news developments.
Indus Towers: British telecom major Vodafone is planning to sell a 3% stake in Indus Towers to reduce its debt of around Rs 856 crore, using the rest to pay off the dues of its Indian venture, Vodafone Idea. will go The transaction is valued at around Rs 2,841 crore based on Indus Towers’ closing price of Rs 358.75 per share on BSE on Wednesday.
Larsen & Toubro (L&T): The company has completed acquisition of 15% stake in E2E Networks Limited on 4th December 2024 through preferential allotment. The promoter of E2E Networks is also expected to complete a secondary acquisition of 6% by May 30, 2025.
Indira Prastha Gas (IGL): The board meeting of the company will be held on 10 December 2024, in which the issue of bonus shares will be considered.
Hero MotoCorp: The two-wheeler company has introduced the Vida V2 series of electric scooters, stepping up competition in the sub-Rs 1 lakh segment. The V2 series includes three variants – VIDA V2 PRO, PLUS, and LITE, with prices starting at Rs 96,000.
Telecom stocks: The Department of Telecommunications (DoT) is pushing for expansion of the Production Linked Incentive (PLI) scheme for telecom equipment and network products, aimed at boosting local manufacturing and tapping export demand for 4G and 5G gear. have to do
Torrent Pharma: The pharmaceutical company will acquire the Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) brands from Boehringer Ingelheim International GmbH (BI). The deal is expected to close by March 2025, with Torrent marketing the brands under a co-marketing agreement from 2022.
Force Motors: The company reported a marginal increase of 0.05 percent in total sales for November, which sold 1,885 units, slightly higher than the 1,884 units sold in the same month last year.
Mazagon Dock Shipbuilders: The company has clarified that it is in commercial negotiations for three new Scorpion-class submarines under Project 75.
Kotak Mahindra Bank: The bank’s arm, Kotak Mahindra Asset Management Company (AMC), is set to enter the private credit market next month with the launch of a fund to raise between Rs 1,500 crore and Rs 2,000 crore.
Axis Bank: Axis Securities, a subsidiary of the private lender, has settled a case with the Securities and Exchange Board of India (SEBI) regarding alleged front-running by one of its dealers. The firm has paid Rs 14.62 lakh as settlement amount, as recommended by SEBI’s Advisory Committee and approved by the panel of whole-time members.
PG Electroplast: The company launched its Qualified Institutional Placement (QIP) issue on December 4, with the board approving a floor price of Rs 705.18 per share.
Bharat Forge: The company also launched its QIP on December 4, 2024 at a target price of Rs 1,323.54 per share.
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