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HomeBusinessStocks to Watch: Wipro, HPCL, Reliance, Adani Ports, Shriram Transport, Zee

Stocks to Watch: Wipro, HPCL, Reliance, Adani Ports, Shriram Transport, Zee

Wipro: Wipro has been awarded a multi-million dollar five-year contract by Mazda Motor Logistics Europe. It has been awarded a contract to deliver next-generation managed services across its entire application landscape, the company announced in a grant application. Mazda said this partnership with Wipro automates IT processes, digitizes processes and enables agile DevOps practices.

HPCL: Hindustan Petroleum Corporation Limited (HPCL) has approved increase to 10,000 Cr through NCDs on a private placement basis. HPCL stated that it will issue unsecured, callable, non-convertible, non-cumulative, taxable bonds up to Rs. 10,000 Crores on a domestic and/or international private placement basis from the date of such approval for financing or refinancing of existing loans and/or financing of capital expenditures of the issuer, including expense recovery.

Adani Gates: The Adani group opened a warehouse facility at Gangavaram port in Andhra Pradesh on Thursday. Spread over 11,000 square meters, the new warehouse has a storage capacity of 50,000 tons. The warehouse will help the agricultural industry by providing easy access for sensitive cargoes such as fertilizer and agricultural products, including rice, corn and sugar, the company said in a press release.

dependent industries: Reliance Consumer Products Ltd announced on Thursday the launch of a homegrown consumer packaged goods brand, Independence, in Gujarat. Independence sells a wide variety of products in various categories including staples, processed foods and other daily necessities such as sugar, legumes, biscuits, edible oil, flour etc. Products under the brand have been made available to consumers and kirana partners in the state.

Shriram transport: The largest NBFC in the country today stated that its board would consider an interim dividend and fundraising on Dec. 24. Shriram Transport Finance Corporation has announced a stock dividend of 200.00%, or 20 per share at a par value of 10, for the fiscal year ended March 2022. The dividend yield at the current share price of 1,389.50 is 1.43%.

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Sea entertainment: IDBI Bank on Thursday filed an insolvency filing against Zee Entertainment Enterprises to initiate a corporate insolvency resolution process (CIRP). The lender has filed the petition under Section 7 that allows a financial creditor to file an application for the initiation of CIRP against a business debtor with the contracting authority, according to an exchange filed by Zee. IDBI Bank is one of the company’s financial creditors and said it had filed for bankruptcy claiming default of 149 crores.

Kalpataru power: Kalpataru Power Transmission said in an exchange request that it will receive orders worth 1,397 crore for its T&D activities in India and abroad. “With these new orders, our YTD FY23 order intake has been reached 15,784 Crores at a consolidated level. We also have a strong L1 position. This gives us the confidence to deliver our targeted growth going forward,” said Manish Mohnot, Managing Director & CEO, Kalpataru Power.

SJVN Ltd: Indian Renewable Energy Development Agency (Ireda) said on Thursday that it has signed a loan agreement with SJVN Green Energy for funding 4,444.71 crore for a 1,000 MW solar project. “Indian Renewable Energy Development Agency Ltd signed a historic loan agreement 4,444.71 crore with SJVN Green Energy (SGEL), a subsidiary of SJVN Ltd, today for a 1,000 MW solar project in Bikaner, Rajasthan,” said the Ministry of New and Renewable Energy.

Hindustani foods: Hindustan Foods Ltd. (HFL) said on Thursday that the Reckitt Benckiser Health India Pvt. Ltd’s manufacturing facility in Baddi, Himachal Pradesh for a cash consideration of 156 crore, aimed at expanding its healthcare and welfare business. The transaction is subject to various conditions precedent as specified in the business transfer agreement. The transfer of the facility is expected to be completed in the second half of 2023.

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GMM Pfaudler: Pfaudler Inc, a promoter of the publicly traded company GMM Pfaudler Ltd, will sell a majority of its stake in the company in a block deal that will net the shareholder Rs2,278 crore, as per the deal terms seen by Mint. Pfaudler Inc is selling 1.34 crore shares of the company representing 29.88% stake in the company at a rock bottom price of Rs 1,700 each which is an 11.67% discount to the closing price of the company at Thursday.


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