Stocks To Watch: JSW Steel, Vodafone Idea, Insurance Companies, Bharat Forge, NHPC
PG Electroplast, Metropolis Healthcare and ICICI Prudential Insurance will be some of the other stocks to watch before going into trade in Tuesday,
JSW Steel Ltd.,Vodafone Idea Ltd., insurance companies, Bharat Forge Ltd. and NHPC Ltd. are the stocks to watch before going into trade on Tuesday.
JSW Steel's consolidated crude steel production went up by 5% year-on-year in November. The company produced 23.23 lakh tonnes in November, in comparison to 22.04 lakh tonnes in the previous year.
Vodafone Idea is set to collect up to Rs 1,980 crore through a share sale on preferential basis to entities within the UK parent Vodafone Group Plc. The board of directors gave approval to offload 175 crore shares to Omega Telecom Holdings Pvt. and Usha Martin Telematics Ltd.
Insurance companies will be in focus due to data released by the Life Insurance Council for the month of November.
Bharat Forge Ltd. amassed Rs 1,650 crore through the issue of a qualified institutional placement of shares on Monday. The QIP had opened for bidding in the previous week.
NHPC's board of directors will hold a meeting to consider the raising of funds through issue of non-convertible bonds up to Rs 2,600 crore in one or more tranches through private placement, as part of the borrowing plan for Fiscal 2024-25.
Stocks To Watch
JSW Steel: The firm's consolidated crude steel production went up by 5% year-on-year in November. The company produced 23.23 lakh tonnes in November, in comparison to 22.04 lakh tonnes in the previous year.The rise in production came after it had fallen 1% in October owing to maintenance activity that took place at one of its blast furnaces in Dolvi.
Vodafone Idea: The firm is set to collect up to Rs 1,980 crore through a share sale on preferential basis to entities within the UK parent Vodafone Group Plc. The board of directors gave approval to offload 175 crore shares to Omega Telecom Holdings Pvt. and Usha Martin Telematics Ltd. The shares will be issued at Rs 11.28 per equity share. Following the preferential issue, Omega Telecom Holdings' stake in Vodafone Idea will rise from 0.4% to 1.98%, while Usha Martin Telematics' stake will increase from 0.13% to 1%.
Insurance companies: Insurance companies will be in focus due to data released by the Life Insurance Council for the month of November.
Bharat Forge: The firm amassed Rs 1,650 crore through the issue of a qualified institutional placement of shares on Monday. The QIP had opened for bidding in the previous week. The board of directors gave a nod to the allotment of 1.25 crore shares with a face value of Rs 2 each, at an issue price of Rs 1,320 per share, reflecting a discount of 0.27% to the floor price of Rs 1,323.54.
Bajaj Finserv: The company released information on its subsidiary Bajaj Allianz General Insurance reported a gross direct premium at Rs 1,365 crore for the month of November. Its subsidiary Bajaj Allianz Life Insurance Co. reported a total new business information at Rs 659.35 crore for the same month of November.
Bharat Electronics: The company bagged orders worth Rs 634 crore, boosting its order book for the ongoing financial year. The orders include a variety of technologically facilitated defence and public administration-related products and services. The public sector undertaking stated that among its major orders are contracts for maintaining the Akash Missile System, supplying telescopic sights for guns, communication equipment, jammers, and electronic voting machines.
PG Electroplast: PG Electroplast successfully closed its qualified institutional placement offer on Monday, just days after launching the issue to raise up to Rs 1,500 crore. The company has set an issue price of Rs 699 per share for approximately 2.14 crore equity shares, which will be allotted to eligible qualified institutional buyers.
Metropolis Healthcare: Metropolis Healthcare Ltd. has announced its acquisition of Core Diagnostics for a total of Rs 246.8 crore.The company's board approved the proposal to acquire a 100% stake in Core Diagnostics through a combination of cash and stock.
NHPC: The firm's board of directors will hold a meeting to consider the raising of funds through issue of non-convertible bonds up to Rs 2,600 crore in one or more tranches through private placement, as part of the borrowing plan for Fiscal 2024-25. It will also consider approval of a revised borrowing plan for raising of debt during Fiscal 2024-25. This meeting is scheduled for Dec. 12.
ICICI Prudential Insurance: ICICI Prudential Life Insurance Co.'s new business premium more than doubled year-on-year in November, driven by an increase in group yearly renewable premium.
The new business premium reached Rs 3,222 crore last month, compared to around Rs 1,291 crore in the same period last year, according to data from the Life Insurance Council.
