Stocks to Watch: Vedanta, Infosys, Suzlon, Shree Renuka Sugars, REC
- The ministry of corporate affairs and Sebi are in favour of allowing certain classes of companies to issue so-called fractional shares
Following are the top ten stocks that are likely to be in focus today:
Vedanta: Moody's Investors Service downgraded Vedanta Resources' corporate family rating from Caa1 to Caa2 over elevated risks of debt restructuring over the next few months. With the current downgrade, the outlook remains negative for the parent company of Vedanta..
Infosys: The IT major is partnering Microsoft to enhance enterprise functions with AI-enabled solutions across multiple industries, according to a release. Both organisations will bring together their respective artificial intelligence capabilities -- Infosys Topaz, Azure OpenAI Service and Azure Cognitive Services -- for transitioning to AI from digital.
Shree Renuka Sugars: The company has inked a pact to acquire 100% stake in Anamika Sugar Mills for ₹235.5 crore, as per a regulatory filing. Shree Renuka will purchase around 5 crore shares for ₹47.05 apiece.
REC/Punjab National Bank: State-run REC has signed a memorandum of understanding with Punjab National Bank to jointly explore the possibility to fund the power sector and infrastructure & logistics sector projects under the consortium arrangement. REC and PNB will partner to co-finance loans amounting to ₹55,000 crore over next three years.
Suzlon Energy: The agreement between Suzlon Energy and Dilip Shanghvi and Associates has been terminated. Hiten Timbadia, the investor group's nominee director on the Suzlon Energy board, has also resigned. Suzlon said there will be no impact on the company's operations.
Shyam Metalics: The integrated metal producer has unveiled plans to manufacture battery-grade aluminum foil, a critical component in lithium-ion cells, marking a significant step towards contributing to Aatmanirbhar Bharat initiative in the battery energy storage domain.
Blue Star: The company, as part of its qualified institutional placement initiative, has acquired a substantial stake in its subsidiary, Blue Star Climatech, by subscribing to its rights issue. Blue Star has bought a total of 4.9 crore shares for ₹49 crore through this move.
Container Corp: Sanjay Swarup, currently serving as director (international marketing & operations) at CONCOR, has been appointed as the chairman and managing director of the company. He will assume office on or after 1 October and his term will extend until 31 July, 2026, which aligns with the date of his superannuation.
3i Infotech: The company has secured a contract from Ujjivan Small Finance Bank to provide end user support services, specifically workplace services. The total value of the contract amounts to approximately ₹39.55 crore, in addition to one-time transition charges of ₹35 lakhs. This contract is designed to span a duration of five years.
Prataap Snacks: A recent search and seizure operation was carried out by the GST authority at the Bengaluru-based manufacturing unit of the company. Prataap Snacks said it has cooperated fully with the authorities and that the operations of the manufacturing unit remained unaffected and continued without interruption.
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