Stocks To Watch: Bank Of Baroda, SBI, Borosil Renewables, Interarch Building Products, Enviro Infra

Enviro Infra Engineers Ltd., Bank of Baroda, Interarch Building Products Ltd., Borosil Renewables Ltd., State Bank of India and Brigade Enterprises Ltd. will be the stocks to watch before going into trade on Thursday.

Bank of Baroda's board has approved raising up to Rs 10,000 crore through the issuance of long-term bonds, the lender said in an exchange filing.

• Bank of Baroda: The company considered and approved raising of Rs 10,000 crore through long-term bonds for financing of infrastructure and affordable housing in single or multiple tranches during financial year 2024-25 and beyond if found feasible. This has come as banks have become more aggressive at tapping into such avenues because of slower deposit growth in the system.

• Interarch Building Products: The company announced strategic partnership with Jindal Steel and Power. The company to use steel as the preferred material for multi-story buildings, data centres, and heavy structures.

• Borosil Renewables: The company decided to cancel its proposed rights issue of Rs 450 crore and, instead, approved a plan to raise Rs 600 crore through a preferential issue of equity shares and Rs 100 crore through warrants.

• SBI: The bank appointed Rama Mohan Rao Amara as the managing director for three years.

• Brigade Enterprises: The company announced the launch of Brigade Citrine, India’s first net-zero residential development with an estimated gross development value of Rs 500 crore.

• Nitco: The company secured a work order worth Rs 105 crore from Prestige Group to supply tiles and marble to Prestige Group’s several real estate projects.

• Glenmark Pharmaceuticals: The company has acquired a 34% stake in O2 Renewable Energy XXIV Pvt.

• Lupin: The company received approval from US FDA for abbreviated new drug application for Emtricitabine and Tenofovir Alafenamide Tablets.

• Lloyds Metals: The company to acquire 79.82% stake of Thriveni Earthmovers and Infra for Rs 70 crore and to issue guarantee in relation with Thriveni Earthmovers promoters for Rs 2,500 crore. The company to grant Rs 1,000 crore guarantee for Lloyds Surya.

• Steel Exchange of India: The company to consider raising of funds up to Rs 600 crore through QIP or other means.

Enviro Infra Q2 FY25 (Consolidated, YoY)

• Revenue up 77.8% to Rs 213 crore versus Rs 119.8 crore.

• Ebitda up 149% to Rs 55.6 crore versus Rs 22.3 crore.

• Margin at 26.1% versus 18.6%.

• Net profit up 200% to Rs 36.4 crore versus Rs 12.1 crore.