Stocks to Watch: Just Dial, Dabur, Adani Enterprises, IRB Infra, PTC India
NSE continues to keep Balrampur Chini, Delta Corp, Bhel, Indiabulls Housing Finance, Gujarat Narmada Valley Fertilizers & Chemicals, IRCTC, and PNB on the list of banned securities under the F&O segment for Tuesday trading as they have crossed 95% of the market-wide position limit.
PremiumHere is the list of the top 10 stocks that will be in focus today:
Just Dial: Billionaire Mukesh Ambani-led Reliance Retail Ventures Ltd (RRVL), the promoter of Just Dial Ltd, will sell a 2% stake in the company through an open market sale for achieving minimum public shareholding. RRVL intends to complete the sale of the Sale Shares within a period of eight trading days beginning 21 December 2022, the company said in a regulatory filing. RRVL holds a 66.40% stake in Just Dial as of 30 September 2022. Promoter and promoter group entities together hold a 76.98% stake in the company.
Dabur India: Promoters of Dabur India Ltd may sell a small stake valued at ₹820 crore in the packaged goods company through a block deal on Tuesday, two people aware of the matter said. The transaction is expected to take place at a 4% discount to the stock’s Monday closing price of ₹588.65, one of the people said, requesting anonymity. A 4% discount implies a price of ₹565. Mint could not immediately verify the reason Dabur’s promoter family is selling the stake.
Adani Enterprises: Adani Enterprises on Monday announced that joint venture AdaniConnex has incorporated a wholly-owned subsidiary DC Development Noida Two Limited (DCDNTL) for undertaking business in IT services. Also, the newly launched subsidiary will undertake businesses related to infrastructure development. AdaniConnex is a joint venture between Adani Enterprises and EdgeConnex.
Sterling and Wilson Renewable Energy: Shapoorji Pallonji on Monday said that the company will offload a 2.5% stake in Sterling and Wilson Renewable via the offer for sale (OFS) route. Shapoorji Pallonji, the promoter, will offload a stake in Sterling and Wilson Renewable Energy between December 20 and December 21. It has fixed the floor price at ₹270 per share.
IRB Infra: Construction engineering company IRB Infrastructure on Monday said that the company will consider a stock split. The company board will meet on January 4, 2023, to consider the same. "This is to inform that a meeting of the Board of Directors of the Company is scheduled to be held on January 04, 2023, to consider, inter-alia, a proposal for alteration in the share capital of the Company by sub-division/split of existing equity shares having face value of Rs. 10/- each, fully paid up," said the company in its regulatory filing.
PTC India: PTC India Ltd, has entered into an agreement with Bhutan, for the supply of power from the Indian power market to the Himalayan nation in order to meet its power requirement during the dry winter season. Designated Authority (DA) for cross-border power trading has been accorded approval for the import of power by Bhutan, PTC said in a statement. Further, Bhutan has also executed the agreement with the Settlement Nodal Agency for the settlement of grid operation-related charges.
IRCTC: The Life Insurance Corporation of India (LIC) has increased its stake in the Indian Railway Catering and Tourism Corporation (IRCTC). The holding has increased from 5.005 per cent to 7.278 per cent. The purchase of shares took place from 17 October to 16 December at an average price of ₹692.28, LIC said in its corporate filing. "Holding increased from 5.005 per cent to 7.278 per cent, an increase of 2.273% during the period from 17.10.2022 to 16.12.2022 at an average cost of INR 692.28," LIC said.
Ipca Laboratories: Ipca Laboratories has acquired an additional 6.53% stake in Trophic Wellness (TWPL). TWPL is involved in manufacturing and marketing several SKUs of neutraceuticals under the brand name Nutricharge. With the above shares, Ipca now holds 58.88% shareholding in TWPL.
Dhanuka Agrotech: Dhanuka Agritech Ltd on Monday said its buyback offer for shares worth ₹85 crore will open on December 26. The buyback will close on January 6, 2023, the company said in a regulatory filing. The company has proposed to buy back 10 lakh shares of the face value of ₹2 each at ₹850 per share for an aggregate amount of ₹85 crore through a tender offer process.
Zydus Lifesciences: Cadila Pharmaceuticals on Monday said it has appointed Ashraf Allam as its global Chief Operating Officer (COO). Allam, who served as the CEO at the Public Investment Fund prior to joining Cadila Pharmaceuticals, will report to Group Chairman and Managing Director Rajiv Modi, the company said in a statement. Previously he has worked with multinationals such as Johnson & Johnson, Amgen, Eli Lilly, BMS and Mundipharma, it added.
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