Indian benchmark indices managed to post modest gains during the trading session on Tuesday amid mixed domestic and global cues. BSE's Sensex rose 131.18 points, or 0.17 per cent to settle at 77,341.08. NSE's Nifty50 index added 36.75 points, or 0.16 per cent, to end the session at 23,537.85. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, June 25, 2024:
Maruti Suzuki India: The country's largest automaker has received a show cause notice demanding Rs 5.4 crore from the Goods and Services Tax (GST) Authority, Gujarat, for the period from July 2017 to March 2023 due to input tax credit denial on certain services.
InterGlobe Aviation: The operator of the budget airline IndiGo has doubled its frequency between Jeddah and Mumbai and will now operate 14 weekly flights starting August 15. With these additions, it will operate 42 weekly flights to Jeddah from five cities in India.
Amara Raja Energy & Mobility: The automobile component maker's subsidiary Amara Raja Advanced Cell Technologies signed a technical licensing agreement with GIB EnergyX Slovakia s.r.o., a subsidiary of Gotion High-Tech Co. As part of the agreement, GIB EnergyX will license Gotion’s world-class LFP technology for lithium-ion cells to Amara Raja Advanced Cell.
RBL Bank: The private lender's board will meet on June 27 to consider a proposal for raising funds via QIP and the issuance of debt securities in one or more tranches on a private placement basis.
AU Small Finance Bank: The private lender bank stated that the board will meet on June 27 to consider raising funds via private placement, QIP, preferential allotment, or any other alternative mode. The board will also consider borrowing or raising funds via debt instruments.
Prestige Estates Projects: The Bengaluru-based real estate developer has selected four investment banks- Kotak Mahindra Capital, JP Morgan, JM Financial and CLSA as advisors for its major qualified institutional placement (QIB) through which it plans to raise up to Rs 5,000 crore, according to media sources. The QIP is likely to be launched in July-August this year.
Zee Entertainment Enterprises: The media major's wholly-owned step-down subsidiary Zee Media Kenya, has been incorporated in Kenya.
Satin Creditcare Network: The microfinance institution has received board approval for the appointment of Monoj Agrawal as Chief Financial Officer (CFO) with effect from July 1, replacing Rakesh Sachdeva, who is retiring as CFO effective June 30. The board proposed to raise funds via non-convertible debentures up to Rs 5,000 crore in one or more tranches.
Craftsman Automation: The auto ancillary firm has entered into a Memorandum of Understanding (MoU) with Sunbeam Lightweighting Solutions and Kedaara Capital Fund II LLP to acquire the whole or part of Sunbeam's business (excluding certain specific assets in Gurugram) in one or more tranches.
Borosil: The glassware company announced the opening of its qualified institutional placement (QIP) on June 24, with a floor price set at Rs 331.75 per share. In January, the board had approved raising funds up to Rs 250 crore via QIP.
Shalby: The hospital chain has terminated its franchise agreement with Madhuban Orthopedic & Multispecialty Surgical Hospital, Udaipur, due to a breach of various terms and conditions of the agreement by the franchisee (Madhuban Orthopedic). This will not have any significant financial impact on the company’s financial position.
Muthoot Capital Services: The microfinance company has received board approval to initiate registration as a corporate agent with the Insurance Regulatory and Development Authority of India (IRDAI).