Stocks To Watch: PC Jeweller, RIL, Infosys, M&M, Nalco, IIFL Finance

PC Jeweller Ltd., Reliance Industries Ltd., Infosys Ltd. and Mahindra & Mahindra Ltd. will be the stocks in focus before going into trade on Friday.

PC Jeweller Ltd.'s board of directors on Thursday fixed Dec. 16 as the record date for determining the eligibility of members for the stock split of one existing fully paid-up equity share into 10 shares to enhance liquidity.

RIL's arm entered into a stock purchase agreement with Wavetech Heliumand subscribed to 21% stake of Wavetech Heliumand for an aggregate consideration of $12 million.

The National Company Law Tribunal passed an order to liquidate Skava Pvt., a wholly owned subsidiary of Infosys Ltd.

M&M provided clarification on the report stating that the company is likely to face emission penalties of Rs 7,300 crore as factually incorrect.

• HDFC Life Insurance: The company clarified on the media reports stating changes to the bancassurance regulations by the Insurance Regulatory and Development Authority of India. It said that regulatory changes of such significance typically preceded by industry consultations.

• Fine Organic Industries: The company resumed Badlapur plant operations from Thursday and is actively working on fully restoring all other plant activities to normalcy.

• RIL: The company’s arm entered into a stock purchase agreement with Wavetech Heliumand subscribed to 21% stake of Wavetech Heliumand for an aggregate consideration of $12 million.

• Aster DM Healthcare: The company is nearing an agreement to combine with closely held Quality Care India Ltd., people familiar with the matter said, in a deal that will create one of India’s largest hospital chains according to Bloomberg.

• Infosys: The National Company Law Tribunal passed an order to liquidate Skava Pvt., a wholly owned subsidiary of Infosys Ltd. The firm was dissolved effective from Nov. 14.

• PC Jeweller: Its board of directors on Thursday fixed Dec. 16 as the record date for determining the eligibility of members for the stock split of one existing fully paid-up equity share into 10 shares to enhance liquidity.The face value of the equity shares will be cut from the current Rs 10 to Rs 1. This will result in the rise of the total number of shares from over 46.5 crore to 465.4 crore.

• M&M: The company provided clarification on the report stating that the company is likely to face emission penalties of Rs 7,300 crore as factually incorrect. There is no such penalty that has been levied or is being considered by the company.

• Adani Power: The company announced that it achieved an exceptional score of 67 (out of 100) in the corporate sustainability assessment undertaken by global rating agency S&P Global for the financial year 2023–24.

• IIFL Finance: IIFL Home Finance Ltd., a subsidiary of IIFL Finance Ltd., plans to raise up to Rs 500 crore through non-convertible debentures at a face value of Rs 1,000 each.

• SBI Life Insurance: The company clarified on the media reports stating changes to bancassurance regulations by Irdai. The company mentioned that Irdai adopts a consultative process and seeks feedback from all stakeholders.

• National Aluminium Co. to trade ex-dividend on Friday for its Rs 4 interim dividend that the company announced earlier this month.