Money Market Millionaire

Stocks To Watch

Protean eGov Technologies

NSE Investments, the non-promoter shareholder, will be selling up to a 20.31% stake in Protean via an offer-for-sale (OFS) from November 22-25. The OFS includes a base issue size of 10.16% equity and a greenshoe option of 10.16% equity. The floor price for the issue has been fixed at Rs 1,550 per share.

SJVN

The company has signed a Memorandum of Understanding (MoU) with the Energy Department of the Rajasthan government for the development of renewable energy in the state. SJVN would develop 5 GW of pumped storage projects and 2 GW of floating solar projects in the state.

Afcons Infrastructure

The company has received a Letter of Acceptance for a project worth Rs 1,274 crore from the Uttarakhand Project Development and Construction Corporation. The project involves civil works, including HM works for the construction of a 130.6-meter high concrete gravity dam and appurtenant works across the River Song at the Song Dam project in Dehradun.

Hyundai Motor India

The automobile company will set up two renewable energy plants in Tamil Nadu and has signed a Power Purchase and Shareholder Agreement with Fourth Partner Energy (FPEL). It currently fulfills 63% of its energy requirements using renewable sources and aims to reach 100%. As part of the partnership with FPEL, Hyundai will invest Rs 38 crore towards setting up these renewable energy plants. Hyundai will hold a 26% stake, and FPEL will hold a 74% equity stake in the project.

LTIMindtree

Life Insurance Corporation of India (LIC) bought a 2.001% stake in LTIMindtree between March 20 and November 11, 2024, via open market transactions, increasing its shareholding in the company from 5.033% to 7.034%.

Infosys

The Georgia Department of Labor, USA, has imposed a penalty of $3.28 million on the company for the period from Q3CY19 to Q1CY24. The company is in the process of seeking clarifications on the pending tax amounts and the levy of penalties.

Tata Power

The company has signed a Memorandum of Understanding (MoU) with the Asian Development Bank for $4.25 billion to finance key clean energy power projects.

Nippon Life India Asset Management

The company has executed a definitive agreement with One Place Commercials for the purchase of commercial office space in Lower Parel, Mumbai, for Rs 486 crore.

Innovators Facade Systems

The company has received a work order worth Rs 110 crore from Prestige Mulund Realty for the design, development, supply, fabrication, and installation of facade work, including stone cladding.

Mphasis

The company has been named the ‘Official Digital Partner’ of MoneyGram Haas F1 Team, announcing a multi-year, technology-driven partnership. It will collaborate closely with the MoneyGram Haas F1 Team to develop solutions for enhancing the team's performance on the track and driving operational efficiency off the track.

Raymond

The company has received a 'No Observation Letter' from the NSE & BSE for the scheme of arrangement between the company and Raymond Realty.

Dear Viewers,
Good Morning. Indian market is expected to open positive with a gain of more than 100 points from previous closing. Asian markets are mostly trading positive. US market closed flat in the last trading session.

https://youtu.be/befBl9lMmSk

Aegis Logistics

The company’s subsidiary, Aegis Vopak Terminals, has filed a draft red herring prospectus with the capital markets regulator to raise Rs 3,500 crore via an initial public offering (IPO). It is an entirely fresh issue with no offer-for-sale component.

Garden Reach Shipbuilders & Engineers

The company has signed a contract worth Rs 226.2 crore with the Transport Department of the Government of West Bengal for the delivery of 13 hybrid ferries. These ferries will operate on the River Hooghly under the West Bengal Transport Infrastructure Development Corporation.

NLC India

The company will invest up to Rs 3,720 crore, in one or more tranches, for various renewable projects and acquire a stake by subscribing to equity shares of NLC India Renewables, as part of its asset monetization plan. The renewable energy assets currently on NLC’s books were valued at Rs 6,263 crore as of September 2024.

Aditya Birla Capital

The company has invested Rs 100 crore on a rights basis in Aditya Birla Capital Digital. Following this investment, there is no change in the percentage shareholding of Aditya Birla Capital, and Aditya Birla Capital Digital continues to be a wholly owned subsidiary of the company.

Power Grid Corporation of India

The company has acquired Khavda V-A Power Transmission from the bid process coordinator, REC Power Development and Consultancy, for Rs 18.9 crore. Khavda V-A Power Transmission is the project Special Purpose Vehicle (SPV) formed to establish a transmission system for the evacuation of power from the potential renewable energy zone in the Khavda area of Gujarat on a build, own, operate, and transfer (BOOT) basis.

Godfrey Phillips India

The company has declared an interim dividend of Rs 35 per equity share for the financial year ending March 2025. November 29 has been fixed as the record date for determining the entitlement of shareholders for the interim dividend.

Varun Beverages

The company has raised Rs 7,500 crore via a Qualified Institutions Placement (QIP) issue. The board has approved the allotment of 13.27 crore equity shares to eligible qualified institutional buyers at an issue price of Rs 565 per share.

UPL

Agricultural solutions provider UPL and global investment firm Alpha Wave Global have signed definitive agreements. As per the agreements, Alpha Wave Global will invest $350 million to acquire approximately a 12.5% stake in seed company Advanta Enterprises, a subsidiary of UPL. The transaction consists of a primary investment of $100 million and a secondary sale of $250 million worth of shares in Advanta by UPL. Meanwhile, the company's board has approved raising funds worth Rs 3,377.74 crore via a rights issue at a price of Rs 360 per share, with the record date fixed as November 26.

RITES

The transport infrastructure consultancy has signed a Memorandum of Understanding (MoU) with the National Institute of Solar Energy (NISE) to collaborate on quality assurance (QA) services for solar and renewable energy projects.

SIS

The Board will meet on November 25 to consider a proposal for fund-raising via a debt issue in the form of debentures.

Suditi Industries

The textile and garment manufacturing company has announced the acquisition of the children's wear brand Gini & Jony. Suditi plans to transform Gini & Jony into a dominant player in the kidswear market through an omni-channel strategy, including exclusive brand outlets (EBOs), large format stores (LFS), and e-commerce platforms.

Kilburn Engineering

The company has entered into a share purchase agreement for the acquisition of Monga Strayfield, an engineering company that manufactures radio frequency dryers and heating solutions, for Rs 123 crore.

Jagsonpal Pharmaceuticals

The company has received full consideration of Rs 41 crore for the sale of its Faridabad facility.

TCI Express

HDFC Mutual Fund acquired a 0.26% stake in the company via open market transactions on November 14, raising its total stake to 5.15%, up from 4.89% previously.

Stocks To Watch

Adani Enterprises, Adani Green Energy

Adani group stocks may face selling pressure after the US prosecutors charged founder Gautam Adani in a $250 million (~Rs 2,100 crore) bribery scheme to secure renewable energy contracts in India. The indictment, filed in Brooklyn, New York, accuses Adani, along with others, of orchestrating an elaborate scheme involving false statements to US investors and violations of federal laws. In addition to the criminal charges, the SEC has filed a separate civil lawsuit. The allegations have already hit Adani group's bonds, with notes issued by Adani Green Energy in March falling by a record amount, while bonds from Adani Electricity Mumbai due in February 2030 dropping 8.6 cents on the dollar.

Gujarat Narmada Valley Fertilizers & Chemicals (GNFC)

The company has signed an MOU with INEOS Acetyls to explore the feasibility of building a new world-scale 600kt acetic acid plant at its site in Bharuch, Gujarat. INEOS Acetyls is a leading producer of acetic acid globally, and GNFC is the only current producer of acetic acid in India.

Wipro

The technology services and consulting company announced a collaboration with Lineaje to help enterprises secure the open-source components within their software applications. Recently, Wipro’s corporate investment arm, Wipro Ventures, invested in Lineaje, a US-based software supply chain security company.

Easy Trip Planners

The online travel tech platform announced its partnership with BNZ Green to promote eco-friendly green travel and reduce the environmental impact of the tourism industry.

Bharti Airtel

Nokia has been awarded a multi-year, multi-billion extension deal by Bharti Airtel to deploy 4G and 5G equipment across key Indian cities and states. As per the contract, Nokia will deploy equipment from its 5G AirScale portfolio, including base stations, baseband units, and the latest generation of Massive MIMO radios, all powered by its energy-efficient ReefShark System-on-Chip technology.

Godrej Properties

The real estate developer has acquired a 53-acre land parcel in Joka, Kolkata. The proposed project is estimated to have a development potential of 1.3 million square feet of saleable area, primarily consisting of residential plotted development, with an estimated revenue potential of Rs 500 crore.

PSP Projects

Adani Infra (India), the PMC subsidiary of Adani Group, has signed definitive agreements to acquire up to a 30.07% stake in PSP Projects from the existing promoter, Prahladbhai S Patel, for Rs 685.4 crore. Currently, Prahladbhai S Patel and his family own a 60.14% stake in the company. Adani Infra has also announced an open offer to buy up to an additional 26% stake in PSP at a price of Rs 642.06 per share, for Rs 661.8 crore.

Tata Power Company

The company has entered into a strategic partnership with Druk Green Power Corporation (the sole generation utility of Bhutan) to collaborate and develop at least 5,000 MW of clean energy generation capacity in Bhutan. The projects include 2,000 MW of hydro, 2,500 MW of pumped storage, and 500 MW of solar capacities.

Dr Reddy’s Laboratories

The United States Food and Drug Administration (USFDA) completed a Good Manufacturing Practices (GMP) inspection at the company’s API manufacturing facility (CTO-2) in Bollaram, Hyderabad. The inspection was conducted from November 13 to 19. The US health regulator issued a Form 483 with seven observations.

JSW Steel

The company has been declared the preferred bidder for Codli Mineral Block XII, located in Dharbandora, Goa, in an auction held on November 12. The projected iron ore resources stand at 48.5 million tonnes, in addition to 2.7 million tonnes of ore in dumps. Meanwhile, the company’s subsidiary, JSW Steel Italy Srl, signed a commercial agreement with Metinvest Adria S.p.A. As per the agreement, Metinvest is required to pay a release fee of euro 30 million to JSW Steel Italy Piombino SpA for the transaction.

Dear Viewers,
Good Morning. Indian market is expected to open negative with a loss of more than 70 points from previous closing. Most of the Asian markets are trading negative. US market closed negative in the last trading session.

https://youtu.be/D_umzdlwf6E

Stocks To Watch

Themis Medicare

Gujarat Themis Biosyn will be merged with Themis Medicare. The merger is subject to the approval of the secured creditors and shareholders of both companies, the stock exchanges, SEBI, NCLT, and other regulatory approvals. Themis Medicare will issue 118 shares for every 100 shares held by shareholders in Gujarat Themis Biosyn.

AstraZeneca Pharma

The pharmaceutical company will launch Breztri Aerosphere in January 2025 in India. Breztri Aerosphere is used to relieve symptoms and prevent exacerbations in adult patients with chronic obstructive pulmonary disease (COPD).

Shilpa Medicare

The company's subsidiary, Shilpa Pharma Lifesciences, received the Certificate of Suitability (CEP) from EDQM (European Directorate for the Quality of Medicines & Healthcare) for the API Octreotide. Octreotide is used to treat high levels of growth hormone caused by acromegaly.

PG Electroplast

The company's subsidiary, PG Technoplast, has signed a definitive agreement with Spiro Mobility to become an exclusive manufacturing partner for manufacturing the electric vehicles of Spiro Mobility (Africa’s largest EV player) in India.

ITI

The telecom manufacturing company has received a contract worth Rs 95 crore from the Uttarakhand government for the mining digital transformation & surveillance system (MDTSS) project.

GVK Power and Infrastructure

The company has been admitted into the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. It released the provisional list of prospective resolution applicants under CIRP, including Vedanta, Jindal Power, Shyam Sel and Power, JSW Energy, and Zeal Global Opportunities Fund.

GMR Airports Infrastructure

The company recorded passenger traffic of 1.07 crore in October, growing 9% YoY and 5% MoM, while aircraft movements stood at 71,598 for the month, rising 9% YoY and 7% MoM.