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Stocks to watch: Shares of firms like Vodafone Idea, Indus Towers, IGL, Axis Bank, Bharat Forge, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks To Watch On December 05: The markets had a volatile session, ending almost flat after three consecutive days of gains. In today’s trade, stocks of Vodafone Idea, Indus Towers, Torrent Pharma, Bharat Forge, Indraprastha Gas, and others will be in focus due to various news developments.
Indus Towers: British telecom giant Vodafone is planning to sell a 3% stake in Indus Towers to reduce its debt of approximately Rs 856 crore, with the remaining proceeds to be used to clear dues of its Indian venture, Vodafone Idea. The transaction is valued at around Rs 2,841 crore, based on Indus Towers’ closing price of Rs 358.75 per share on the BSE on Wednesday.
Larsen & Toubro (L&T): The company has completed the acquisition of a 15% stake in E2E Networks Limited through a preferential allotment on December 4, 2024. It is also expected to complete the secondary acquisition of 6% from E2E Networks’ promoter by May 30, 2025.
Indraprastha Gas (IGL): The company’s board will meet on December 10, 2024, to consider the issuance of a bonus share.
Hero MotoCorp: The two-wheeler company has introduced the Vida V2 series of electric scooters, intensifying competition in the sub-Rs 1 lakh segment. The V2 series includes three variants – VIDA V2 PRO, PLUS, and LITE, starting at Rs 96,000.
Telecom Stocks: The Department of Telecommunications (DoT) is pushing for an expansion of the Production Linked Incentive (PLI) scheme for telecom equipment and network products, aiming to boost local manufacturing and capture export demand for 4G and 5G gear.
Torrent Pharma: The pharmaceutical company will acquire the brands Cospiaq (empagliflozin), Cospiaq Met (empagliflozin + metformin), and Xilingio (empagliflozin + linagliptin) from Boehringer Ingelheim International GmbH (BI). The deal is expected to be completed by March 2025, after Torrent has marketed these brands under a co-marketing agreement since 2022.
Force Motors: The company reported a modest 0.05% rise in total sales for November, with 1,885 units sold, slightly up from 1,884 units sold in the same month last year.
Mazagon Dock Shipbuilders: The company has clarified that it is in commercial negotiations for three new Scorpene-class submarines under Project 75.
Kotak Mahindra Bank: The bank’s arm, Kotak Mahindra Asset Management Company (AMC), is set to enter the private credit market with the launch of a fund aiming to raise between Rs 1,500 crore and 2,000 crore next month.
Axis Bank: The private lender’s subsidiary, Axis Securities, has settled a case with the Securities and Exchange Board of India (SEBI) concerning alleged front-running by one of its dealers. The firm has paid Rs 14.62 lakh as the settlement amount, as recommended by SEBI’s advisory committee and approved by a panel of whole-time members.
PG Electroplast: The company launched its Qualified Institutional Placement (QIP) issue on December 4, with the board approving a floor price of Rs 705.18 per share.
Bharat Forge: The company also launched its QIP on December 4, 2024, at a floor price of Rs 1,323.54 per share.
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