Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:

Stocks To Watch

Welspun Corp

The company has received two additional large orders in the USA, one each for HSAW and HFIW pipes, for the supply of coated pipes for a natural gas pipeline project. With the addition of these two new orders, the value of the cumulative orders received by its USA plant to date in Q3FY25 has exceeded Rs 7,000 crore. Execution of these orders will take place during FY25 and FY26. Hence, the outlook for the USA market remains extremely positive for the next couple of years.

Biocon

The biopharmaceutical company has received an Establishment Inspection Report (EIR) with a Voluntary Action Indicated (VAI) status from the US Food and Drug Administration (US FDA) for its API facility (site 2) in Bengaluru. This report is based on a surveillance inspection conducted by the US FDA between September 23-27.

One 97 Communications (Paytm)

The company's subsidiary, One97 Communications Singapore (Paytm Singapore), has approved the sale of stock acquisition rights (SARs) held in PayPay Corporation, Japan (PayPay). These SARs, acquired by Paytm Singapore in September 2020, will be sold to a SoftBank Vision Fund 2 entity for net proceeds of JPY 41.9 billion (Rs 2,364 crore). Through this deal, PayPay is valued at JPY 1.06 trillion. The transaction is expected to be closed in December 2024.

Easy Trip Planners

The company has entered into a share purchase agreement to acquire a 49.03% stake in Pflege Home Health Care Center LLC, and a 49% stake in Planet Education Australia Pty. It has also signed a share subscription agreement to acquire a 50% stake in Jeewani Hospitality. UAE-based Pflege is engaged in the business of medical tourism, assisting patients from the Indian subcontinent, Turkey, Thailand, Singapore, and Malaysia. Jeewani is engaged in the business of the construction, development, and operation of hotels. Planet provides international student recruitment and coaching for various entrance tests like IELTS, TOEFL, GMT, GRE, and SAT for international education.

Suven Pharmaceuticals

The pharma company will acquire a 56% stake in US-based NJ Bio, Inc., an ADC specialist player, at a $100 million pre-money valuation, investing $64.4 million, including $15 million for growth initiatives. This acquisition strengthens Suven’s positioning as a technology-driven CDMO with end-to-end ADC/XDC solutions.

NLC India

The company has been declared the successful bidder by the Ministry of Coal for the New Patrapara South Coal Mine in Odisha. This is the third commercial coal mine for NLC India, and the company is committed to its capacity addition.

Bajaj Healthcare

The company’s API manufacturing site in Vadodara, Gujarat, has received approval from the Therapeutic Goods Administration (TGA), Australia. The site has already received approval from the USFDA and EU. With this recognition, the company expects to attract more CDMO contracts from existing and new clients. The TGA approval is valid for 24 months.

JSW Energy

The company's subsidiary JSW Neo Energy has received a letter of award from NTPC for setting up a 400 MW solar power project. Furthermore, its other subsidiary, JSW Energy (Utkal), has been the successful bidder for the BARTAP Coal Mine in Odisha, with an estimated geological reserve of 1,600 MT. It has executed the coal mine/block development and production agreement.

Ceat

The company has entered into a definitive agreement(s) to acquire Camso brand’s off-highway construction equipment tire and track business from Michelin for $225 million. The transaction includes the business with revenues of $213 million in CY23, along with two manufacturing facilities and global ownership of the Camso brand, after an initial 3-year licensing period.

Godrej Consumer Products

The company said that demand conditions in India have been subdued for the past few months. The surge in palm oil and derivatives prices, with a YoY increase of 20-30%, has impacted the soaps category, which represents one-third of its standalone business revenue. Furthermore, the weather conditions have not been supportive (delayed winters in the North and a cyclone in the South) for the home insecticides (HI) segment, which also contributes one-third to the standalone business. This has impacted the home insecticides category's growth in the current quarter. The rest of the portfolio is demonstrating robust performance and is expected to deliver double-digit UVG (underlying volume growth). However, given the significant contribution of soaps and HI to the overall business mix, the standalone business is expected to report around flattish UVG and mid-single-digit sales growth in Q3FY25.

Delta Corp

The company has revised its scheme related to the demerger of its hospitality and real estate business. The revised scheme provides for the demerger of the Dhargal project into Deltin Hotel & Resorts, a wholly-owned subsidiary of Delta Penland, while the remaining hospitality and real estate business will be demerged into Delta Penland. There is no change in the share entitlement ratio provided earlier. Delta Penland will issue eligible shareholders 1 new equity share of face value of Re 1 each for every 1 equity share of face value of Re 1 each held by such shareholders in Delta Corp.

Kirloskar Oil Engines

Aseem Srivastav has resigned as Chief Executive Officer of the B2C business vertical, effective December 31, as he is taking up a new role within the Group. The designation of Rahul Sahai has been changed from Chief Executive Officer of the B2B business vertical to Chief Executive Officer of the company, effective January 1, 2025.

Wipro

The technology services and consulting company announced a collaboration with SIAM.AI, a member of the NVIDIA Cloud Partner program in Thailand. The companies will leverage NVIDIA accelerated computing and software to develop an AI-powered digital assistant for the Tourism Authority of Thailand.

RITES

The company has received a $9.7 million order from the Guyana government for the upgrading of the Palmyra to Moleson Creek highway.

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The company's 4W lighting plant at Khed, Pune, has started its commercial production. The same will be gradually ramped up going forward.

Linc

The company has fixed December 20 as the record date for the split of equity shares and the issue of bonus shares. It will split each equity share of face value of Rs 10 into 2 equity shares of face value of Rs 5 each and further will issue bonus shares in the ratio of 1:1.

Poonawalla Fincorp

Dhiraj Saxena has resigned as Chief Technology Officer of the company due to harassment from the CHRO.

Shree Renuka Sugars

The National Company Law Tribunal (NCLT) has approved the merger of Monica Trading, Shree Renuka Agri Ventures, and Shree Renuka Tunaport with the company. All three companies are wholly-owned subsidiaries of the company.

Reliance Power

The company's subsidiary, Samalkot Power, has paid in full its outstanding interest in default on its term loan with the Export-Import Bank of the United States. The actual amount involved in the default was $15.48 million. Post payment by Samalkot, the company's default as a Guarantor to the aforesaid loan stands cured.

Alembic Pharmaceuticals

The pharma company has dissolved its six step-down subsidiaries, namely Okner Realty LLC, Alembic Labs LLC, Alnova Pharmaceuticals SA, Dahlia Therapeutics SA, Genius LLC, and Alembic Mami SpA. None of the companies was operational.

Laurus Labs

The company's subsidiary, Laurus Bio, has signed a definitive agreement for an investment of Rs 120 crore from Eight Roads Ventures and F-Prime Capital. Laurus Labs also agreed to co-invest an additional Rs 40 crore at the same valuation in Laurus Bio. After the transaction is completed, the company, Eight Roads Ventures, and the promoters of Laurus Bio will hold 75%, 14%, and 9% stakes, respectively. The company will utilize the equity infusion to further expand its fermentation-based manufacturing capabilities.

Star Health and Allied Insurance Company

The company received a Show Cause Notice from the Insurance Regulatory and Development Authority of India (IRDAI) for non-compliance with various IRDAI regulations and guidelines. IRDAI conducted a general inspection from January 31, 2022, to February 11, 2022.

Bulk Deals

Himatsingka Seide

The Royal Bank of Scotland Plc, as Trustee of Jupiter India Fund, sold half a percent stake in the company at an average price of Rs 195.22 per share, valued at Rs 13.48 crore.

Cybertech Systems & Software

Rational Equity Flagship Fund I offloaded a 0.5% stake in the company at an average price of Rs 224.05 per share, amounting to Rs 3.6 crore.

Pranik Logistics

Pine Oak Global Fund sold a 0.58% stake in the logistics company at an average price of Rs 89.66 per share. However, Moneyplant Gold & Jewellery Trading LLC bought 0.7% of shares at an average price of Rs 90.53 per share.

Mainboard Listing on December 9

Property Share REIT

F&O Ban

PVR INOX, RBL Bank, Granules India, Manappuram Finance