Press "Enter" to skip to content

Stocks in the news: Inox Green, Wipro, L&T, Dr Reddy’s, Vedanta & Vodafone Idea – Economic Times

Nifty futures on the Singapore Exchange traded 65.5 points, or 0.36 per cent higher at 18,353, signaling that Dalal Street was headed for a positive start on Wednesday. Here are a dozen stocks which may buzz the most in today’s trade:
Green Energy Services: The wind power operation and maintenance service providers will make Dalal street debut on Wednesday after running its initial public offering between November 11-15 as the company raised Rs 740 crore by selling its shares in the range of Rs 61-65 apeice.


Arbitrage offloaded 48 lakh shares of IT company in two tranches at an average price of Rs 387 per piece for Rs 185.76 crore through the open market transactions, according to the block deal data available with the BSE. Societe Generale acquired the company’s shares at the same price.

Larsen & Toubro:
The engineering major said it has bought the entire stake held by Chiyoda Corporation in L&T-Chiyoda Ltd for Rs 75 crore. L&T-Chiyoda Ltd (LTC) is a joint venture between L&T and Japan-based Chiyoda Corporation (Chiyoda).

Dr Reddy’s Laboratories: The drug maker said it is among several generic pharmaceutical companies, including Celgene and Bristol Myers Squibb, against which an antitrust litigation has been filed in the US. The company said a complaint was filed and it along with other generic pharmaceutical firms have been named as defendants.

Vedanta: The mining giant announced the third interim dividend of Rs 17.50 per equity share for the current financial year, amounting to Rs 6,505 crore. The mining giant’s gross debt stood at Rs 58,597 crore as on September 30.

Vodafone Idea: Shareholders of debt-ridden firm have approved issuing shares worth Rs 1,600 crore to ATC Telecom Infrastructure on a preferential basis. It’s board has given its nod to settle Rs 1,600 crore dues to equipment vendor ATC Telecom by converting the due amount into equity, if the amount remained unpaid in 18 months.

FSN E-Commerce Ventures:
Arvind Agarwal resigned as Chief Financial Officer of Nykaa effective from the close of business hours on November 25. The company said it is now in the process of appointing a new CFO.

The industrial engineering reported a 23 per cent rise in its net profit from continuing operations to Rs 392 crore in the September 2022 quarter, mainly on the back of higher revenues. The company follows October to September financial year.

The ex-date for the Mindtree merger is November 23 and the record date is November 24. Mindtree will be delisted from exchanges, and L&T Infotech will be renamed LTI-Mindtree.

The Spark Minda group flagship firm said it has signed a technology license agreement with LocoNav for white-labelling of telematics software. Under the agreement, LocoNav will be the technology partner for telematic systems to Spark Minda and will provide with a white-labelled software.
: The home textiles major expects revenue to cross the Rs 15,000 crore-mark by FY26, growing around 60 per cent in the next three years. The firm is looking at ‘multiple drivers for growth’ in the domestic market besides strengthening the export market.

The energy playerr has sought shareholders’ approval to appoint Jindal as a director on the company’s board. Parth Jindal is the son of the company’s Chairman an Managing Director Sajjan Jindal.

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 civil construction 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 from November 22, 2022, if not paid within 90 days.

: Retail, Adani Group’s JV April Moon Retail and 11 other companies have made it to the final list of prospective bidders for acquiring debt-ridden Future Retail. These companies have been included in the final list of prospective resolution applicants after receiving no objections from stakeholders concerned to the provisional list.