Stocks in news: HDFC Bank, Wipro, Vedanta, RVNL, Indus Towers, RailTel & Mindspace REIT

Indian benchmark indices settled lower on Monday on the back of mixed global cues. BSE Sensex crashed 384.55 points, or 0.47 per cent, to end at 81,748.57. NSE's Nifty50 plunged 100.05 points or 0.4 per cent, to settle at 24,668.25. Here are the stocks that may remain under spotlight before the opening bell on Tuesday, December 17, 2024:
 

HDFC Bank: Capital market regulator SEBI has issued an administrative warning letter to the bank, alleging non-compliance with certain provisions of the SEBI Listing Regulations concerning the resignation of Arvind Kapil, a senior management employee of the bank.
 

UltraTech Cement: The leading cement maker has inaugurated 150 UltraTech Building Solutions (UBS) stores across 135 cities on a single day across Delhi, Western U.P., Haryana, Punjab, Jammu and Kashmir, Himachal Pradesh, Rajasthan, and Madhya Pradesh. The Aditya Birla Group subsidiary also launched Weather Pro Top Shield and Bitupro alongside store launches.

Mindspace Business Parks REIT: The Abu Dhabi Investment Authority (ADIA) is likely to sell a 9.2 per cent stake in the REIT, worth Rs 1,903 crore, via block deals, said some media reports. The floor price for the deal is expected to be Rs 350 per share.

Wipro: The company, through its subsidiaries, has signed a definitive agreement to acquire 100 per cent shareholding in Applied Value Technologies Inc and its affiliates, Applied Value Technologies BV and Applied Value Technologies Pte, for $40 million.

Vedanta: The company board of metal miner has approved the fourth interim dividend of Rs 8.5 per equity share for the financial year 2024-25, amounting to Rs 3,324 crore.

Varun Beverages: The beverage company has acquired a 39.93 per cent stake in Lunarmech Technologies, making Lunarmech a wholly-owned subsidiary of Varun Beverages.

Indus Towers: The Income Tax Appellate Tribunal (ITAT) has pronounced an order in favour of the company regarding the denial of depreciation on assets received under merger, disallowance of provision for expenses, amortization of ARO, provision for SLA credit, etc. This will result in a reduction of Rs 3,500 crore in contingent liabilities.

Hindustan Petroleum Corporation: The Board will meet on December 23 to consider raising funds through various methods, including a preferential issue.

Rail Vikas Nigam: The railway player has received a letter of acceptance (LoA) for the construction of elevated metro stations from Maharashtra Metro Rail Corporation. The project cost is Rs 270 crore.

Gravita India: The material recycling player opened its qualified institutions placement (QIP) on December 16. The floor price has been fixed at Rs 2,206.49 per share. The issue size is likely to be Rs 750 crore, with an upsize option. The funds will be used to repay outstanding borrowings, meet working capital requirements, and for general corporate purposes.

Hindustan Construction Company: The construction company opened its qualified institutions placement (QIP) on December 16, with a floor price of Rs 45.27 per share. The base issue size is expected to be Rs 400 crore, with an option to scale it up to Rs 600 crore.

Texmaco Rail & Engineering: The rail engineering player has received an order for the construction of transmission lines on a turnkey basis, valued at Rs 187.41 crore from Chhattisgarh State Power Transmission Co. The project will be executed over a period of 15 months.

RailTel Corporation of India: The railway company has received a work order worth Rs 37.99 crore from Central Warehousing Corporation.

Nitco: The company has secured a new order worth Rs 105.40 crore from Prestige Estates Projects for the supply of tiles, marble, and mosaic. The company anticipates receiving orders worth Rs 104 crore from Prestige Estates Projects in the near future, based on current ongoing projects.