Stocks To Watch: UltraTech, Vedanta, IDBI Bank, Piramal Enterprises, IOC
AGI Greenpac, Pondy Oxides and Chemicals, Ksolves will be some of the other stocks to watch before going into trade on Monday.
UltraTech Cements Ltd., Vedanta Ltd., IDBI Bank Ltd., Piramal Enterprises Ltd., Indian Oil Corp. and AGI Greenpac Ltd. will be the stocks to watch before going into trade on Monday.
The CCI approved on Friday the proposed acquisition of the India Cements Ltd. by UltraTech for Rs 3,954 crore. Earlier this month, the antitrust watchdog had sought clarifications from the two companies regarding the deal, which they responded to.
Stocks To Watch
UltraTech Cement: The Competition Commission of India approved the proposed acquisition of the India Cements by the company for Rs 3,954 crore.
Vedanta: The company tweaked its demerger plan on Friday. The company said it won't demerge its base metals subsidiary from itself, while the other four wholly owned arms will take part in the demerger scheme that it had announced earlier.
IDBI Bank: The board of IDBI Bank will meet on Dec. 31 to consider and approve raising up to Rs 10,000 crore through the issuance of infrastructure bonds in the current financial year and 2025-26 (April-March).
Piramal Enterprises: The company approved raising up to Rs 2,000 crore through NCDs in one or more tranches.
Indian Oil Corp: The company approved an investment of Rs 657 crore for setting up a yarn project in Odisha. The project will be set up by the company's joint venture with MCPI. The project, to be set up in Odisha's Bhadrak. The estimated cost for the project is Rs 4,382.2 crore, with IOC's contribution of Rs 657.3 crore.
AGI Greenpac: The board approved the proposal for raising up to Rs 1,500 crore through issuance of shares and equity-linked securities. The funds will be raised in one or more tranches.
Pondy Oxides and Chemicals: The company has raised Rs 175.4 crore through its qualified institutional placement, which closed on Friday. The company allotted 20.34 lakh shares to eligible qualified institutional buyers at Rs 860 per share, which marked a discount of 4.75% against the floor price of Rs 902.93 that the company had announced on Dec. 17.
Ksolves India: The company approved the stock split in the ratio of 1:2.
Fortis Healthcare: The company acquired 7.61% stake in arm Agilus Diagnostics from IOC for Rs 429 crore.
SRM Contractors: The company received a work order for Rs 105 crore from the NHAI.
