Stocks to Watch: Check out the companies making headlines before the opening bell.
Zomato: Mohit Gupta, co-founder at Zomato, has resigned. He had joined the food delivery giant’s Deepinder Goyal and team four-and-a-half years ago. He decided to move on from Zomato to seek the other unknown adventures.
Tata Motors: The BSE has decided to add Tata Motors in the S&P BSE Sensex index, in place of Dr Reddy’s Laboratories. Also in the S&P BSE 100 and Sensex Next 50 indices, Adani Power and Indian Hotels Company will replace Adani Total Gas, and Hindustan Petroleum Corporation. The changes will be effective from December 19, 2022. In addition, Nxtdigital will be removed from S&P BSE AllCap, Consumer Discretionary, MidSmallCap and SmallCap with effect from November 22 as it is demerging into Hinduja Global Solutions as part of restructuring to separate their media and communication business.
3i Infotech: The stock will be in focus as the IT company has received a contract from Hindustan Petroleum Corporation, for managing and supporting IT infrastructure at HPCL offices, refinery including data centers across pan-India. Total contract value is approximately Rs 51 crore spread across three years.
Advait Infratech: The company has received order from Power Grid Corporation of India under the company’s vertical of emergency restoration system department. The order is worth Rs 18 crore.
REC: The state-run power projects finance company has received consideration and accordingly transferred its entire shareholding in Gadag II-A Transmission, presently held by its subsidiary RECPDCL, along with all assets and liabilities to ReNew Transmission Ventures, the successful bidder. Gadag II-A will establish transmission system for “transmission scheme for solar energy zone in Gadag with a capacity of 1,500 MW in Karnataka as a Part A Phase-II.
Engineers India: The company has received order from Chennai Petroleum Corporation for overall project management & EPCM services for OHCU revamp, CDWU and related off-site facilities for Group-II LOBS project at Manali refinery.
INEOS Styrolution India: The company in its BSE filing said Sanjiv Vasudeva has resigned as Managing Director & Chief Executive Officer of the company. Now he has ceased to be members of the committees of the company. Robbie Alphons Maria Buntinx also resigned as Chairman of the company after promoter INEOS Styrolution APAC Pte Ltd sold entire 61.19% stake in the company to Shiva Performance Materials Private Limited as per share purchase agreement; with this Shiva Materials hold 62.73% stake in INEOS.
Dredging Corporation of India: The company reported standalone profit at Rs 28.61 crore for quarter ended September FY23, against loss of Rs 3.98 crore in corresponding period last fiscal, led by strong top line and operating performance. Standalone revenue from operations jumped 58.1% to Rs 238.72 crore compared to year-ago period.
KPI Green Energy: The company has received commissioning certificate from Gujarat Energy Development Agency (GEDA) for capacity of 5.40 MWdc solar power plant under captive power producer Anupam Rasayan India.
Indian Energy Exchange: The company said the board of directors will meet on November 25 to consider share buyback proposal.
Archean Chemical Industries: The speciality chemical company will make its grand debut on the BSE and NSE on November 21. The issue price has been fixed at Rs 407 per share.
Five Star Business Finance: The non-banking finance company will list its equity shares on the bourses on November 21. The issue price has been set at Rs 474 per share.
Alstone Textiles (India): Investors Paschim Finance and Chit Fund, and Victory Software continued to offload shares in Alstone Textiles, but the stock remained in an uptrend, hitting upper circuits day after day, rising to Rs 300.45 on November 18, from Rs 15.75 on August 24 this year. Paschim Finance and Chit Fund sold another 1.4 lakh shares and Victory Software offloaded another 1.1 lakh shares at an average price of Rs 300.45 per share.
Moneycontrol News
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