Stocks to Watch Today: HDFC Bank, SpiceJet, Mankind Pharma, Tata Steel and others

Stocks to Watch Today: On Friday, the domestic markets recorded a slight improvement on the indices, being up by approximately 1.5%, mostly under the influence of the trends available in other markets. There are reports that there would be a number of news events today focusing on the shares of companies like SpiceJet, Mankind Pharma, Vodafone Idea, Aarti Drugs, BHEL, and some others in the course of trading today.

SpiceJet: At an issue price of Rs 61.60 a share, the board of directors of SpiceJet sanctioned the allotment of 48.71 equity shares to qualified institutional buyers as per the guidelines.

HDFC Bank: The board of directors of HDB Financial Services (HDBFS), a subsidiary of HDFC Bank, has approved a listing tariff of equity shares, which consists of a fresh issue of shares of Rs 2,500 crore and an offer for sale (OFS) from existing investors. HDBFS’ net income rose 2.6% in the red by 580 crores in the June quarter on a year-on-year basis while the net loan book increased by 30% to 95600 crores.

IIFL Finance: CARE Ratings has revised IIFL’s rating of long-term instruments downgraded from “AA” to ‘AA- owing to the reduction in its gold loan portfolio. The ability of the company to be able to regain the market share is still the major focus, although the RBI restrictions have only recently been lifted.

Max Healthcare: The firm has aggressive expansion plans over the next four years including adding more than 3,500 beds. Recently the company has acquired additional 750 beds with more recent acquisitions like Sahara Hospital and Alexis Hospital reinforcing its presence in other new areas.

Vodafone Idea: After the Supreme Court ruling on the payment of AGR dues, the firm is in crisis. There’s an ad-hoc meeting of the investors scheduled for today to explain the current situation. Shedding light to expand its reach ahead of forthcoming 5G and 4G services, Vi has also entered into a 3-year contract worth $3.6 billion along with Nokia, Ericsson, and Samsung.

Adani Total Gas: Retail sale of gas to domestic customers necessitate the setting up of a city gas distribution network which ATGL sought assistance by signing a $375 million deal with international lenders including $315 million upfront.

Mankind Pharma: To fund its latest acquisition of Bharat Serums and Vaccines, the pharmaceutical giant plans to source about Rs 10,000 crore through issue of non-convertible debentures and commercial papers.

Tata Steel: The company Kalinganagar in Orissa has successfully completed and has now operationalized a new blast furnace, taking its capacity from 3 million tonnes to 8 million tonnes at a total cost of Rs 27,000 crore. Thus, Tata Steel can comfortably produce 14.6 million tonnes in Odisha. The additional facilities such as a coke and pellet mill are also part of the proposal.

Adani Ports and Special Economic Zone: In order to include modern advanced technology in its trading and logistic systems, Adani Ports and Special Economic Zone (APSEZ) enters into mutual understandings with the Rorix Holdings. The aim of this collaboration is to increase the operational capabilities and revolutionising the commodity trading. The RAK Ports and Logistics business, which was established by Karan Adani, stressed the significance of this Collaboration for achieving their goal of becoming a Leading International Integrated Transportation and Logistics Infrastructure Providers.

Reliance Infrastructure: The company disclosed a fundraising exercise, whereby the founders were expected to contribute Rs. 1,100 million while investors from the Mumbai based investment companies were to put in Rs. 1,910 million. The firm plans to implement QIPs and preferential allotments seeking to raise above Rs 6000 crore.

Religare Enterprises: That is not the only issue of concern for proxy advisor InGovern, as there were a couple of governance related issues that were flagged since the AGM of Religare Enterprises is now postponed since its scheduled date. The Shareholders are unhappy with the circumstance, especially given that executive chair Rashmi Saluja is being investigated for suspicious insider trading.

Zee: Petitioners like Axis Finance, IDBI Bank and IDBI Trusteeship Services who had contested the Zee Entertainment merger with Sony Pictures Networks India have called off their petitions. This was after the NCLT noted, it had earlier given its nod for the merger which was enmeshed in legal tangle and aimed at setting up a large media house which has constrained at all levels.

Signature Global: The real estate company awarded ACC India a contract for construction worth Rs 320 crore for its luxury home project located in Gurugram. In the prevailing scenario, the “Twin Towers DXP” project is envisaged to be a major development in the region.

Mahindra & Mahindra: The firm is broadening its EV strategy with a new production and battery factory within Chakan in Maharashtra and aims for a 30% EV penetration by the year 2030. On top of this facility which is expected to churn out 200,000 EVs a year over the same period, the company hinted that there is no more EV facilities in the pipe line.

Adani Energy Solutions: In the next xxx, it will be еvaluation of tender documents with a. Consequently, all respondents agree that AESL’s profit before tax should grow by 29%. Adani electricity traders macrascope of offerings spreads from distribution, smart metering, to transmission. Analysts expect that within the FY24 to FY27 period, AESL’s revenue will show a rise of 20% CAGR.

DreamFolks: The hinterland service providers such as DreamFolks are now tackling the Adani-led airport service termination problems. Amid the adversities, the company has reinforced its commitment to performance of its obligations under contracts. DreamFolks is expanding into highway lounges and other travel-related services as it seeks to recover from the disruptions.

Punjab and Sind Bank: The bank aims to tap the present low bond market and issue infrastructure bonds worth upto Rs 3000 crores. There is an effort to raise capital through one of the schemes which has been very active in raising funds in the past from public sector banks. This reflects the effort of the bank to enhance its capital base.

HFCL: The company is ahead of schedule by achieving a competent level of these military technology potentials as General Atomics has assigned the company to manufacture critical sub-systems of their unmanned aircraft systems.