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Stock Radar: Tata Motors, Syngene, Metropolis, Bharat Electronics, Lupin, Isgec Heavy, Suraksha Diagnostic, GE Vernova in focus on Tuesday

10 Dec , 2024   By : Debdeep Gupta


Stock Radar: Tata Motors, Syngene, Metropolis, Bharat Electronics, Lupin, Isgec Heavy, Suraksha Diagnostic, GE Vernova in focus on Tuesday

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


Tata Motors


The Tata Group company will increase the prices of its cars, including electric vehicles, by up to 3% from January. This move comes as part of a trend among automakers raising prices to offset rising costs, reports Reuters.


Syngene International


Promoter Biocon is likely to sell a 2% stake in the company via block deals, reports CNBC-TV18, citing sources. The indicative price may be Rs 825 per share, with the block size at Rs 660 crore.


Metropolis Healthcare


The company has acquired Delhi NCR-based Core Diagnostics for Rs 246.8 crore. This strategic acquisition will enhance Metropolis' capabilities in advanced cancer testing while strengthening its presence in Northern and Eastern India. The acquisition is expected to be completed within 60 days.


Bharat Electronics


The company has received additional orders worth Rs 634 crore, including maintenance of the Akash Missile System, telescopic sights for guns, communication equipment, jammers, electronic voting machines, test stations, spares, and services. With these orders, BEL has now accumulated a total of Rs 8,828 crore in orders for the current financial year.


Lupin


Life Insurance Corporation of India has reduced its stake in Lupin by 2.027%, bringing its holding down to 2.542% from 4.569?rlier. The reduction occurred between July 30 and December 6 of this year through open market transactions.


Tiger Logistics


The company has received board approval to raise to Rs 400 crore through the issuance of equity shares, convertible instruments, or other permissible securities, in one or more tranches via preferential issue to finance its business growth plan.


NHPC


The Board will meet on December 12 to consider a revised borrowing plan for raising debt during FY25, including raising funds through the issuance of bonds up to Rs 2,600 crore in one or more tranches via private placement as part of the borrowing plan for FY25.


Vodafone Idea


The Board has approved the issuance of 175.53 crore equity shares worth Rs 1,980 crore at a price of Rs 11.28 per share to Usha Martin Telematics (Rs 700 crore) and Omega Telecom Holdings (Rs 1,280 crore), both of which are Vodafone Group entities and promoters of the company.


Brookfield India Real Estate Trust REIT


The REIT opened its institutional placements issue on December 9, with a floor price set at Rs 287.55 per unit.


Bharat Forge


The forging company has raised Rs 1,650 crore by allocating 1.25 crore equity shares to several qualified institutional buyers, including ICICI Prudential Mutual Fund, HDFC Life Insurance, Aditya Birla Sun Life Trustee, Nippon Life India, SBI MF, Government Pension Fund Global, and Mirae Asset, for Rs 1,320 per share.


GE Vernova T&D India


The company has received an order worth Rs 400 crore from Sterlite Power for the supply and supervision of 765KV power transformers and reactors for the Khavda project.


RailTel Corporation of India


The company has received a work order worth Rs 24.5 crore from Haryana State Electronics Development Corporation for CAMC.


Lemon Tree Hotels


The company has signed a License Agreement for a Lemon Tree Resort in Mirik, West Bengal. The property will be managed by the company's subsidiary, Carnation Hotels, and is expected to open in FY28.


LGB Forge


The Board has approved the company's proposal to set up a new hot forging plant at Kinathukadavu, Coimbatore, to increase the manufacturing capacity of existing products.


Datamatics Global Services


Lumina Datamatics has signed a definitive agreement to acquire a controlling stake in TNQTech, a Chennai-based publishing technology and services company.


PG Electroplast


The Board has approved the issuance of 2.14 crore equity shares to qualified institutional buyers for Rs 699 per share, amounting to Rs 1,500 crore.


Suraksha Diagnostic


Nippon India Mutual Fund acquired a 5.4009% stake in Suraksha Diagnostic through open market transactions on December 5.


Torrent Power


The company has completed its Rs 3,500 crore qualified institutions placement, receiving demand of approximately 4x the base issue size from international and domestic investors. The entire issue was placed with marquee long-only investors such as SBI MF, Capital Group, SBI Pension, Kotak MF, Nippon MF, Norges Bank, and Amundi.


JSW Steel


The company reported consolidated crude steel production for November at 23.23 lakh tonnes, up 5% compared to the year-ago period. Indian operations' production was higher by 7% YoY, with capacity utilization for November at 94% for Indian operations.


Isgec Heavy Engineering


The company's non-material subsidiary, Isgec Investments Pte Singapore, has entered into a Sale and Purchase Agreement with Triumph Excel to sell its entire shareholding in its subsidiary, Bioeq Energy Holdings One, Cayman Islands, for $10 million (Rs 84.5 crore).


Cellecor Gadgets


To strengthen its supply chain efficiency, the company has partnered with TCI Express, DTDC Express, OM Logistics, and Express Roadways.


IGC Industries


The Board has approved a strategic initiative involving the swapping of shares between IGC Industries and CNX Corporation and a proposal to invest in CNX Corporation's equity shares.


Gretex Corporate Services


SEBI has rejected Gretex's settlement application. The regulator issued an administrative warning letter to Gretex on February 9, and the company filed a settlement application on February 12.


Bulk Deals


Greaves Cotton


Kedia Securities, owned by ace investor Vijay Kishanlal Kedia, purchased a 0.51% stake in Greaves Cotton at an average price of Rs 208.87 per share.


Stock Trades Ex-Date for Bonus & Split


Achyut Healthcare


Stock Trades Ex-Date for Split


Shradha AI Technologies


F&O Ban


PVR INOX, RBL Bank, Granules India, Manappuram Finance

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