Stocks to Watch: PC Jeweller, Zee, Sun Pharma, Ajmera Realty, PCBL, and more

Here’s a quick look at stocks likely to be in focus in today’s trade.

PC Jeweller: PC Jeweller has set December 16, 2024, as the Record Date for the sub-division of its equity shares. According to the resolution approved by the company’s Board of Directors on November 28, 2024, each equity share with a face value of ₹10 will be split into 10 equity shares with a face value of ₹1.

Zee Entertainment: Zee Entertainment Enterprises Limited (ZEEL) announced that the proposal to reappoint Punit Goenka, currently the Managing Director and CEO, as a Director in the company was defeated during its annual general meeting held on November 28, 2024. The reappointment resolution was defeated with a 50.4 percent vote against and 49.5 percent in favor. In a filing with the exchanges, ZEEL stated, “Resolution No. 3 (Goenka’s reappointment) failed to get the requisite majority of votes as required under the provisions of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.”

Adani Group stocks: Adani Group stocks received a boost after Abu Dhabi’s International Holding Company (IHC) reaffirmed its support for the conglomerate. Despite the recent US indictment of founder and chairman Gautam Adani, IHC stated that its investment outlook in the group remains unchanged. In another positive development, Kerala Chief Minister Pinarayi Vijayan signed a supplementary concession agreement with Adani Vizhinjam Port, solidifying plans for the future development of the international seaport. The first phase is now scheduled for commissioning next month, with an additional investment of ₹10,000 crore to expand the port’s capacity to handle 30 lakh twenty-foot equivalent units (TEUs).

Sun Pharma: Sun Pharmaceutical Industries Ltd disclosed that the Ministry of Corporate Affairs (MCA) has levied penalties on certain past and present directors and officials, including Chairman and Managing Director Dilip Shanghvi, for alleged non-disclosure and failure to obtain board and shareholder approvals for certain related-party transactions. The company has received an order from the Regional Director, North Western Region, Ministry of Corporate Affairs, citing violations of provisions under the Companies Act, 2013.

Reliance Industries: Reliance Industries Ltd (RIL) announced that its step-down subsidiary, Reliance Finance and Investments USA LLC (RFIUL), has acquired a 21 percent stake in Wavetech Helium, Inc (WHI) for USD 12 million. The transaction, completed on November 27, 2024, aligns with RIL’s strategy to expand its exploration and production business in low-carbon solutions. WHI, a US-based helium gas exploration and production company, was founded on July 2, 2021, and began operations in 2024.

PCBL: Carbon black manufacturer PCBL announced the successful commissioning of the second and final phase of its specialty chemical capacity expansion at its Mundra plant in Gujarat. This phase adds 20,000 MTPA to the company’s specialty chemical capacity, bringing the total capacity at Mundra to 40,000 MTPA. With this expansion, PCBL’s total manufacturing capacity has reached 7,90,000 MTPA, the company stated in a regulatory filing.

Nazara Tech: Nazara Technologies secured ₹855 crore ($101 million) through a preferential issue, with significant participation from investors like SBI Innovative Opportunities Fund, Junomoneta Finsol, and Think India Opportunities Master Fund LP. The company’s board approved the allotment of 8.95 million shares at an issue price of ₹954.27 per share in a regulatory filing on November 27.

Sudarshan Pharma Industries: In a block deal, Rosehill Ltd sold 7.40 lakh shares or 1.04 percent of SPML Infra Ltd at an average price of ₹207.22 per share. Shares of SPML Infra were locked in the 5 percent upper circuit on November 28, 2024, and closed at ₹208.65. Meanwhile, Century India Opportunity Fund PC purchased 16 lakh shares or 0.66 percent of Sudarshan Pharma Industries Ltd at ₹41.97 per share. Sudarshan Pharma shares were also locked in the upper circuit and closed at ₹42 during the trading session.

Ajmera Realty: Ajmera Realty & Infra India Ltd has repaid ₹100 crore of its corporate debt using the funds raised from its recent equity offering of ₹225 crore. With this repayment, the company’s outstanding debt has reduced to ₹693 crore. The early debt repayment is expected to enhance the company’s financial performance by lowering interest costs, Ajmera Realty mentioned in a regulatory filing.

KEI Industries: KEI Industries successfully raised ₹2,000 crore by allotting 52,63,157 equity shares to 104 qualified institutional buyers (QIBs) at an issue price of ₹3,800 per share, which represents a 2.07 percent discount to the floor price of ₹3,880.54 per share.

Newgen Software: Newgen Software Technologies secured a purchase order from the Reserve Bank of India (RBI) for the implementation and maintenance of its Regulatory Application Management System (RAMS). The contract is valued at approximately ₹32 crore, marking a significant win for the company in the regulatory technology space.