Stocks To Watch: Vodafone, Indus Tower, Infosys, Bharat Forge, Larsen & Toubro, Torrent Pharma
Muthoot Microfin, Indraprastha Gas and PG Electroplast are some other stocks to watch before going into trade.
(Source: Freepik)
Vodafone Idea Ltd., Fusion Finance Ltd., and Indus Tower Ltd. will be the stocks in focus before going into trade on Thursday.
Vodafone will consider fundraising up to Rs 2,000 crore in a meeting on Dec. 9, while Vodafone will sell a 3% stake in Indus Towers, and the proceeds from the sale will be used to repay Vodafone Idea's borrowings.
The board of Fusion Finance approved raising up to Rs 800 crore via rights issue.
Indus Tower: The group will sell a 3% stake in Indus Towers, and the proceeds from the sale will be used to repay Vodafone Idea's borrowings.
Vodafone Idea: The board will consider fundraising up to Rs 2,000 crore in a meeting on Dec. 9.
Fusion Finance: The board approved raising up to Rs 800 crore via rights issue. The company will retain flexibility to undertake a preferential issue not exceeding 20% of overall size.
Muthoot Microfin: The company announced its third interest rate cut of the year. The microfinance institution has reduced lending rates by 25 basis points for income-generating loans to 23.05% and by 125 basis points for third-party product loans to 22.7%.
Suraj Estate Developers: The company's subsidiary, Iconic Property Developers, acquired a vacant plot of land measuring 1,464 square meters (~15,758 square feet) in Mahim (W), Mumbai, for Rs 101 crores. The company estimates the gross development value of the project at Rs 525 crores.
Dynamic Services and Security: The company has received an offer letter for a solar project from the Maharashtra Government, which has approved a fixed capital investment of Rs 1,080 crore.
Torrent Pharmaceuticals: The company has signed an agreement with Boehringer Ingelheim to be acquired by three anti-diabetes brands.
Infosys: The company has signed an agreement with Kardex to transform its business operations using SAP S/4HANA.
Indraprastha Gas: The company will review the proposal for issuing bonus shares on Dec. 10.
Larsen & Toubro: The company has completed the acquisition of a 15% stake in E2E Networks through a preferential allotment and will finalise the secondary acquisition of 6% from E2E Networks' promoter by May 30.
Bharat Forge: The company has set the indicative offer price range for its QIP at Rs 1,290-1,320 per share, representing a discount of 4.2-6.38% to the last closing market price. The indicative issue size is up to Rs 1,650 crore.
PG Electroplast: The board approved the opening of QIP today, at a floor price for QIP of Rs 705.18 per share.
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