Stocks to Watch: Check out the companies making headlines before the opening bell.
FSN E-Commerce Ventures: Lighthouse India Fund III has sold 1.84 crore equity shares in the company in open market transactions. These shares were sold at an average price of Rs 182 a piece. The stake sale was worth Rs 335.72 crore. Further, Arvind Agarwal resigned as the chief financial officer of the company effective from the close of business hours on November 25.
Vedanta: The company said its board of directors has approved a third interim dividend of Rs 17.50 per share on a face value of Re 1 per share for FY23. The dividend is worth Rs 6,505 crore. The record date for payment of dividend has been fixed as November 30.
Tech Mahindra: Life Insurance Corporation of India bought additional 1.95 crore shares or 2.01% stake in the IT services company through open market transactions. With this, LIC’s shareholding increased to 6.87%, from 4.86% earlier.
Bharti Airtel: Nxtra Data, a subsidiary of Bharti Airtel, has started the construction of its new hyper-scale data centre in Kolkata. The company will invest Rs 600 crore in the development of the largest data centre in East India that will cater to the underserved markets of east and north-east regions along with the SAARC countries.
Inox Green Energy Services: The subsidiary of wind turbine generator Inox Wind is going to debut on the bourses on November 23. The final price has been fixed at Rs 65 per share.
Kaynes Technology India: Portfolio management company ValueQuest Investment, and foreign investors TNTBC, Norges Bank, and Goldman Sachs have bought Rs 221 crore worth shares in Kaynes Technology India. Valuequest Investment Advisors bought 9.84 lakh shares at an average price of Rs 764.28 a piece, TNTBC as the trustee of Nomura India Stock Mother Fund purchased 6 lakh shares at an average price of Rs 723.1 per share, Norges Bank on account of the Government Pension Fund Global bought 9.24 lakh shares at an average price of Rs 751.16 per share, and Goldman Sachs Funds – Goldman Sachs India Equity Portfolio purchased 4.66 lakh shares at an average price of Rs 705.28 per share.
Rolex Rings: PGIM India Mutual Fund sold 1.86 lakh shares in the company at an average price of Rs 1,923.16 per share. PGIM India Mid Cap Opportunities Fund held 1.78% stake or 4.85 lakh shares in the company as of September 2022.
Siemens: The company recorded 20.7% year-on-year growth in consolidated profit at Rs 381.7 crore for the quarter ended September FY22 and revenue grew by 11.6% to Rs 4,657.1 crore compared to year-ago period on strong growth across businesses. For the financial year 2021-22, consolidated profit jumped 22.5% to Rs 1,262 crore and revenue increased 22.3% to Rs 16,138 crore compared to previous year. The company recommended a dividend of Rs 10 per share for FY22. Its order backlog from continuing operations is Rs 17,183 crore.
Hindustan Motors: The company has entered into a Memorandum of Understanding (MOU) to extend the electric vehicle domain across the border to enhance the production of eco-friendly electric vehicle.
MBL Infrastructure: The company has received arbitration award for its residential project in Delhi. The Learned Arbitral Tribunal passed an award in favour of the company against Public Works Department, Delhi for a residential complex project in Delhi for Rs 9.29 crore plus interest at the rate of 10% per year payable from November 22, 2022, if not paid within 90 days. The balance work of the project will be completed through the company on payment basis and further the expenditure of rehabilitation and repairs of existing works will be borne by the parties in the ratio of 2:1.
Moneycontrol News
