Stocks to watch on June 6: The Nifty futures contract traded on the Singapore exchange indicated a negative start for domestic equities. The contract was traded at 18,708, down 17 points or 0.09% from the previous close.
Indigo: IndiGo aims to carry 100 million passengers in the year ending March 2024, as the carrier adds more domestic and international routes, its CEO Peter Elbers said.
Adani Group: In a credit note released on Monday, Adani Group said it has fully prepaid the $2.15 billion loan that was taken by pledging shares in the company’s listed companies and another $700 million loan taken for the acquisition of Ambuja Cement.
State Bank of India: The Board will meet on June 9 to consider and approve raising funds through private placement mode in FY24 by issuing debt instruments (including equity instruments) in rupees and/or foreign currency.
Bharat Forge: Last week a majority of Bharat Forge’s institutional shareholders (53.51 per cent) voted against a proposal to approve the reappointment of BN (father) Kalyani as the company’s managing director.
Titan: According to reports, the founders of Tata Group and Caretlane disagreed over the valuation of the remaining stake held by the founders, leading to a month-long impasse.
Maruti Suzuki: India’s largest domestic carmaker has set up two new solar plants in Rohtak and Manesar to further its renewable energy plans.
SBI Card: The board of directors has approved raising funds through the issuance of non-convertible debentures (NCDs) of Rs 3,000 crore in one or more tranches on a private placement basis.
Godrej Consumer Products: The company has appointed Asif Malbari as Chief Financial Officer (CFO) with effect from August 10, 2023. Mulbari will replace Sameer Shah, who will move to a group role in consumer investments.
Hindustan Unilever: Fast-moving consumer goods player Hindustan Unilever (HUL), in an interview to a TV channel, said it will soon cut prices of soaps, detergents and shampoos in the next few weeks.
Separately, HUL CFO Ritesh Tiwari also said the company is betting on growth opportunities in the ‘mastige’ beauty segment and is eyeing acquisitions in the space.
Spicejet: According to reports, the NCLT has postponed the hearing of the bankruptcy case against the airline till June 8. Besides, real estate company Acres Buildwell Pvt Ltd has applied to the National Company Law Tribunal to withdraw its bankruptcy petition against the low-cost airline.
JK Cement: The Board of Directors has given in-principle approval to sign/execute Share Purchase Agreement (SPA) with the shareholders and to acquire 100 per cent equity shareholding from all existing shareholders of Toshali with Toshali Cement Pvt.
Nelco: The Company entered into agreement(s) with the promoters and other shareholders of Piscis Networks Pvt Ltd for an initial investment of Rs 99.99 lakhs to purchase 9.09 per cent of the paid-up capital of Piscis Networks. The company will further invest to increase its shareholding to at least 30 percent of the paid-up capital of PCIS Network.
Tata Power: Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited, has commissioned a 110 MW solar power project in Bikaner, Rajasthan. The project is expected to generate approximately 211 MUs (Million Units) and reduce carbon footprint by 2,58,257 MT (Metric Tonnes) annually.
Suzlon: Suzlon became the first Indian wind energy company to reach 20 GW of global wind power installations with 12,467 wind turbines in 17 countries spanning six continents.
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