Stocks to Watch: Check out the companies making headlines before the opening bell.
DCB Bank: DCB Bank appoints new CFO. The private sector lender has appointed Satish Gundewar as its Chief Financial Officer and Key Managerial Personnel after retirement of Bharat Laxmidas Sampat from the position.
Vodafone Idea: Vodafone Idea to raise funds up to Rs 436.21 crore from promoter. The telecom operator said the board has approved raising of funds up to Rs 436.21 crore from promoter Euro Pacific on a preferential basis. The board has also approved convening of an Extraordinary General Meeting of the company on July 15 to seek approval of shareholders for the preferential issue.
Bajaj Auto: Bajaj Auto to consider share buyback proposal on June 27. The automobile company informed exchanges that the board of directors will meet on June 27 to further deliberate on the proposal for buyback of shares of the company.
IRB Infrastructure Developers: IRB Infrastructure receives arbitral award of Rs 308 crore. IRB Infrastructure received 75 percent of the arbitration award of Rs 419 crore from IRB Pathankot Amritsar Toll Road Ltd, a special purpose vehicle of IRB InvIT Fund. The court has upheld the arbitral tribunal’s order and directed National Highways Authority of India to release 75 percent of the arbitration award amount, i.e. Rs 308 crore, to the company. IRB Infrastructure was the engineering, procurement and construction contractor for Pathankot Amritsar BOT (build, operate, transfer) project.
GPT Infraprojects: GPT Infraprojects bags order worth Rs 292 crore. The company has bagged an order worth Rs 292 crore for execution of viaducts, major bridges, ROBs, supply of vehicle, site facilities & other allied works for Khurda Road – Bolangir New B G link project of East Coast Railway. This contract is in joint venture.
Bharat Petroleum Corporation Ltd: BPCL gets MCA nod for merger of Bharat Oman Refineries with itself. BPCL has received approval from Ministry of Corporate Affairs for amalgamation of Bharat Oman Refineries with itself. The scheme of amalgamation will be made effective by both by filing copy of the order of the ministry with the jurisdictional registrar of companies.
Usha Martin: Promoter offloads 1.5 lakh shares in Usha Martin. Promoter Peterhouse Investments sold 1.5 lakh shares in the company were offloaded via open market transactions from June 20-21. With this, its shareholding in the company stands reduced to 1.86 percent from 1.91 percent.
Imagicaaworld Entertainment: Imagicaaworld Entertainment completes debt resolution. The company has completed its debt resolution successfully and inducted new promoters on the board of directors. The board has approved allotment of shares and 0.01% redeemable non-convertible preference shares on a preferential basis as part of the resolution plan agreed by lenders under the RBI Prudential Framework.
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