The domestic equity market closed higher on Tuesday. Sensex rose 122 points to 71,437 and Nifty gained 34 points to 21,453.
Here's a look at stocks that are likely to remain in news next week.
IndusInd Bank
IndusInd Bank is likely to sell up to 1.79 crore shares, equivalent to a 2.86% equity stake, in Nippon AMC through a block deal, according to reports. The floor price for the block deal has been set at Rs 426.60 per share, representing a 5% discount to the current market price.
Deepak Nitrite
Subsidiary company, Deepak Phenolics has cleared the execution of a binding term sheet with Petronet to offtake 250 KTPA of Propylene and 11 KTPA of Hydrogen from Petronet Petrochemical Project at Dahej, Gujarat for 15 years from the date of the first supply of propylene and hydrogen by PLL to DPL.
IREDA
The company’s board cleared raising of unsecured, redeemable, non-convertible, non-cumulative, taxable, bonds worth Rs 500 crore at base issue, with a green shoe option of up to Rs 1500 crore on a private placement basis. This is part of the company’s Rs 26,000 crore borrowing program for FY23-24.
Also read: IREDA stock up 10%, taking one-month return to 100%! Should you stay put?
Varun Beverages
Varun Beverages (VBL), one of PepsiCo’s leading bottling and manufacturing firm globally, is aiming to acquire 100 per cent stake in a South Africa-based company named The Beverage Company (Proprietary) Ltd for Rs 1,320 crore. The deal is expected to be complete by 31 July, 2024, it said in a regulatory filing.
Anupam Rasayan
The company cleared a preferential allotment of 19,04,540 equity shares for Rs 945.11 per share to Rehash Industrial and Resins Chemicals, a promoter of the company. The company has already received nod from BSE and NSE to issue these shares on a preferential basis.
Container Corporation of India
The company inked a MoU with DB Schenker India to collaborate on EXIM and domestic business. The companies aim to provide sustainable supply chain practices in the logistics industry.
Rail Vikas Nigam
RVNL and Kerala Rail Development Corporation JV have emerged as the lowest bidders to upgrade and redevelop the Varkala Sivagiri Railway station in Kerala. The cost of the project is Rs 123.26 crore and the period for the project is 30 months.
India Shelter Finance Corporation
The shares of affordable housing finance company will make their debut on the BSE and NSE on December 20.
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