Stocks in the news: JSW Steel, Sun Pharma, Coal India, Vedanta and TCPL

view original post

Nifty futures on the Singapore Exchange traded 83 points, or 0.50 per cent higher at 16,506, signaling that Dalal Street was headed for a negative start on Monday. Here are a dozen stocks which may buzz the most in today’s trade:

JSW Steel: The fate of steelmaker’s businesses in Italy largely depends on contracts from Italian railway authorities, failing which it will look at other ‘alternatives’.

has so far failed to revive the company it acquired in 2018, and rising raw material cost and geo-political issues, including the Russia-Ukraine crisis, has not helped matters either.
: The drug major plans to increase its field force in the domestic market by 10 per cent in the current fiscal in order to drive twin objectives of brand focus and geographical expansion. The Mumbai-based drug major is the fourth largest specialty generic drug maker in the world.

Coal India:
The coal dispatch by state-owned to captive power plants and sectors like cement registered a decline in May as compared to the year-ago month. While the fuel supply by

to captive power plants dropped 39.74 per cent in May 2022 over the year-ago period, dispatch to the cement sector declined 16.74 per cent.

Tata Consumer Products: The coffee chain operator Tata Starbucks, a subsidiary arm of consumer firm has reported a 76 per cent growth in revenue to Rs 636 crore for 2021-22 and ‘significantly’ reduced its net loss, driven by normalization of operations following easing of COVID-related restrictions. However, it did not specify the net loss for FY22.

Vedanta:
The diversified metal miner said a committee of directors has approved raising up to Rs 4,089 crore via debentures on a private placement basis. The company will issue 40,890 nos secured, rated, listed, redeemable, non-convertible debentures (NCDs) of face value Rs 10,00,000 each.

Welspun Corp: The East Pipes Integrated Company, its associate company, has bagged a contract valuing Saudi Riyal 490 million (about Rs 1,000 crore) to supply steel pipes in Saudi Arabia. The project is in line with the Saudi Arabia government’s aim to expand the kingdom’s water pipeline infrastructure through investment from the private sector.


Ujjivan Small Finance Bank:
The private lender said the board on June 8 will consider the proposal for raising of funds by way of issuance of debt securities on a private placement basis, in one or more tranches.

Adani Transmission: The company has signed Share Purchase agreement with Essar Power to acquire its 100 per cent stake in Essar Power Transmission Company (EPTCL). The acquisition is in line with the company’s value added growth strategy through organic as well as inorganic growth opportunities. The acquisition cost is Rs 1,913 crore.

Poonawala Fincorp: Sebi revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of the leading NBFC. After conducting a detailed investigation in the matter, Sebi found that “Abhay Bhutada had not communicated unpublished price sensitive information.

Prudent Corporate Advisory Services: The recently listed financial services firm’s promoter group – Niketa Sanjay Shah & PACs – acquired 2.6 lakh equity shares in the company via open market transactions on June 3. With this, promoters shareholding in the company stands increased to 58.44 per cent, up from 57.81 per cent earlier.

SJVN:
The power producer will invest over Rs 1,000 crore to set up three renewable energy projects in Uttar Pradesh. The company’s CMD Nand Lal Sharma said two solar projects with a capacity of 75 MW each will be set up at villages Parasan and Gurha in district Jalaun.

Valiant Organics: The specialty chemicals company informed exchanges about an incidence of blast in reactor in chlorination section of its plant at GIDC, Sarigam, Gujarat. The incident has taken place on June 3. There has been no loss to human life, however, minor injury reported to one person, who is under medical treatment.

RattanIndia Power: Vibhav Agarwal has resigned as Managing Director of the company due to his personal reasons. Hence he also ceased to be Key Managerial Personnel of the company on June 3. Asim Kumar De, Whole Time Director of the company, has assigned additional responsibilities to discharge the functions which were earlier assigned to Managing Director, for interim period.

Savita Oil Technologies: The lubricants company in its BSE filing said the board on June 21 will consider the sub-division of equity shares of the company.

Veeram Securities:
The gems and jewelry informed the bourses that Nomura Singapore ODI, a global financial services group, has made an investment of 1,50,000 shares in our company. Also,

Opportunities Fund Mauritius have made an investment of 1,03,000 shares in our company.