Buzzing Stocks | Bajaj Finance, Hero MotoCorp, Indian Oil, and others in news today - Moneycontrol
Stocks to Watch: Check out the companies making headlines before the opening bell.
Bajaj Finance: The company has entered into a share purchase agreement to acquire up to 40% stake in Snapwork Technologies by way of primary and secondary transactions. The company intends to strengthen technology roadmap through this acquisition which will be completed by December 2022. The acquisition cost is Rs 93 crore.
Hero MotoCorp: The company has decided to make an upward revision in the ex-showroom prices of its motorcycles and scooters, effective from December 1, 2022. The price increase will be up to Rs 1,500 and the exact quantum of increase will vary by specific models and markets. This will help the company offset any further cost impact, and drive improvement in margins.
L&T Finance Holdings: L&T Finance Holdings has completed 100 percent stake sale in subsidiary L&T Investment Management and received Rs 3,484 crore ($425 million) as consideration for the sale of L&T Investment Management from HSBC Asset Management (India). The company also realised surplus cash balance of Rs 764 crore in L&T Investment Management.
Va Tech Wabag: The water technology Indian multinational company has signed an agreement with Asian Development Bank (ADB) towards raising Rs 200 crore through unlisted non-convertible debentures (NCD). The NCDs carrying a 5 years and 3 months tenor will be subscribed by ADB over a 12 month period. This will be ADB’s first investment in a water sector company in India.
Shriram Properties: Subsidiary Shriprop Builders has acquired 100% stake in Suvilas Realities, a real estate company at Bangalore. The deal value is Rs 30 crore for 100% stake in Suvilas Realities. Suvilas Realities is developing a high rise residential apartment project Suvilas Palms at Jalahalli, Bangalore.
Indian Oil Corporation: The oil marketing company has raised Rs 2,500 crore by issuing 25,000, 7.44% NCDs of Rs 10 lakh each on private placement basis. IOC will utilise funds for refinancing existing borrowing or funding capital expenditure.
Indian Energy Exchange: The company has received approval from its board of directors for the proposed share buyback worth Rs 98 crore. The buyback price is Rs 200 per share and the maximum number of shares to be bought back would be up to 49 lakh shares.
Venus Pipes & Tubes: BNP Paribas Arbitrage has picked up 3.2% stake or 6.5 lakh shares in the company via open market transactions at an average price of Rs 650 per share. The stake acquired is worth Rs 42 crore. However, investor Hemant Rajanikant Shah sold 6.5 lakh shares at same price.
JK Cement: The cement company has increased its cement grinding capacity by 2 million tonnes per annum as its subsidiary Jaykaycem (Central) has successfully commenced cement grinding capacity at its newly set up cement manufacturing facilities in Uttar Pradesh.
Lemon Tree Hotels: The company has signed a License Agreement for a 42 rooms hotel in Jamshedpur. The hotel is expected to be operational by end of September, 2023. Its hotel management arm Carnation Hotels will be operating this hotel.
Muthoot Finance: The company will raise Rs 300 crore via public issue of secured redeemable non-convertible debentures of face value of Rs 1,000 each. The issue is with a base issue size of Rs 75 crore with an option to retain oversubscription up to Rs 225 crore aggregating up to tranche limit of Rs 300 crore. The issue will open on November 28 and will close on December 19.
No comments:
Post a Comment