Here’s a quick look at stocks likely to be in focus in today’s trade.
Vedanta: Mining major Vedanta Limited is set to convene a board of directors’ meeting on Monday, December 16, 2024. As per an exchange filing on December 11, the board will deliberate the release of the fourth interim dividend for the financial year 2024-25. The company stated, “The Board of Directors of the Company (the ‘Board’) is proposed to be scheduled on Monday, December 16, 2024, to consider and approve the Fourth Interim Dividend on equity shares, if any, for the Financial Year 2024-25.” If approved, the dividend issue date has been set for Tuesday, December 24, 2024.
Reliance Industries: RIL has announced the acquisition of a 74 percent stake in an industrial area developer based in Mumbai for ₹16.28 billion (USD 192 million). The developer, Navi Mumbai IIA, was formerly known as Navi Mumbai Special Economic Zone (NMSEZ). This transition occurred after the Maharashtra state government approved its conversion into an integrated industrial area in 2018. The remaining 26 percent stake will be held by the City and Industrial Development Corporation (CIDCO) of Maharashtra.
Lupin: The pharm firm has expanded its diabetes care portfolio by acquiring three anti-diabetes trademarks—GIBTULIO, GIBTULIO MET, and AJADUO—from Boehringer Ingelheim. The acquisition is expected to strengthen the company’s presence in the diabetes care market in India. Lupin aims to secure full rights to these trademarks by March 2024.
RITES: Navratna company RITES Limited has secured a project implementation service order from the Ministry of External Affairs to construct an Integrated Check Post. The project, valued at ₹297.67 crore, will enhance India’s border infrastructure. The construction is scheduled for completion over 59 months, reflecting RITES’ commitment to bolstering national infrastructure projects.
Aurobindo Pharma: Aurobindo Pharma received an order from the Additional Commissioner (ST), Appellate authority, Vijayawada, Andhra Pradesh, passed under relevant provisions of the CGST Act, 2017 and APGST Act, 2017 for the financial years 2017-18 (from July 2017) to 2019-20 demanding reversal of ITC and payment of GST amounting to ₹5.68 crore along with an interest of ₹4.80 crore.
Aeroflex Industries: Aeroflex Industries has announced its plan to raise up to ₹400 crore through a Qualified Institutional Placement (QIP). The funds will be directed toward expansion plans and financial strengthening. Shareholders are set to vote on the proposal during an Extraordinary General Meeting (EGM) scheduled for January 15, 2024.
Afcons Infrastructure: Afcons Infrastructure has been awarded a significant contract by Madhya Pradesh Metro Rail Corporation for the Bhopal Metro Rail Project. The project, valued at ₹1,007 crore, is part of Package BH-05 and focuses on the city’s metro rail infrastructure. The company received the formal Letter of Acceptance (LOA) from Madhya Pradesh Metro Rail Co. Ltd, confirming the project’s allocation.
HBL Power Systems: HBL Power Systems has received a substantial order worth ₹1,522.4 crore from Chittaranjan Locomotive Works. The contract involves the supply, installation, and commissioning of Train Collision Avoidance Systems (TCAS) for 2,200 locomotives. The project is expected to be completed within 12 months of the purchase order issuance, underlining the company’s expertise in safety and signaling solutions.
