Stocks in focus today: Delta Corp, BEL, IRCON, Paytm, IDFC First Bank and more

The domestic equity market closed at record highs on Wednesday. Sensex rose 357 points to end the session at 69,653 and Nifty added 82 points to settle at 20,937.

Here’s a look at stocks that are likely to remain in news today.

IRCON International

The government will sell an 8 percent stake or 7.52 crore equity shares in the infrastructure company via offer-for-sale (OFS) on December 7-8, with a floor price of Rs 154 per share.

Delta Corp

The Calcutta High Court has granted an interim relief to Deltatech Gaming Ltd., a unit of Delta Corp. in a case relating to the Rs 6,384 crore payment of the shortfall goods and services tax (GST). The court said that no effect be given to any order passed by the tax authority in relation to the show-cause notice, the company said in an exchange filing on Wednesday. In October, Deltatech Gaming Ltd. received an intimation for payment of the shortfall tax from the Directorate General of GST Intelligence, Kolkata. The alleged tax shortfall of Rs 6,236 crore was from January 2018 to November 2022, while another Rs 147 crore was for July 2017 to October 2022.

Himadri Specialty Chemical

Himadri Specialty Chemical will invest Rs 4,800 crore to enter into the manufacturing of Lithium-ion battery components. The company's upcoming facility in Odisha will focus on producing Lithium Iron Phosphate (LFP) Cathode Active Material, a crucial component for electric vehicle (EV) batteries.

Dr Reddy’s Laboratories

The firm’s subsidiary Dr Reddy's Laboratories SA and Coya Therapeutics Inc have inked a development and licence agreement for the development and commercialisation of COYA 302, an investigational combination therapy for the treatment of Amyotrophic Lateral Sclerosis (ALS).

TV18 Broadcast

Network18 Media & Investments and TV18 Broadcast have announced a Scheme of Arrangement. As per the scheme, TV18 and e-Eighteen.com (E18, which owns and operates the Moneycontrol website and app) will merge with Network18.

PVR INOX

The company has launched another 4-screen multiplex at Keshar Towers at Race Course Road, Gwalior. After this launch, PVR INOX now operates the largest multiplex network with 1,709 screens across 358 properties in 113 cities (India and Sri Lanka).

One 97 Communications (Paytm)

Payments and financial services distribution company Paytm has announced the expansion of its loan distribution business with an increased focus on higher-ticket loans for consumers and merchants.

BEL

The company said it has received orders worth Rs 3,915 crore. With the above orders, cumulatively, BEL has received orders worth Rs 18,298 crore in the current financial year.

IDFC First Bank

Cloverdell Investment, an affiliate of global PE firm Warburg Pincus is likely to sell 1.3 percent in IDFC First Bank via a block deal. The deal size could be $100 million, with a floor price of Rs 85.7 per share.

Also read: Paytm shares updates on loan distribution business; key takeaways

Also read; Top 10 stocks to watch on December 7, 2023: Delta Corp, Paytm, Vedanta, JP Associates, Bharat Electronics and more