The UK-based telecom operator Vodafone PLC is likely to sell a 9.94 per cent stake in Indus Towers on Wednesday through block deals, according to the media reports. 
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The UK-based telecom operator Vodafone PLC is likely to sell a 9.94 per cent stake in Indus Towers on Wednesday through block deals, according to the media reports. Indian benchmark indices kicked off the week on a strong note, with headline indices scaling new highs on Tuesday. BSE Sensex surged 308.37 points, or 0.40 per cent to settle at 77,301.14. NSE's Nifty50 index gained 92.30 points, or 0.39 per cent, to end the week at 23,557.90. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, June 19, 2024:
Kotak Mahindra Bank: Zurich Insurance Company has completed the acquisition of 70 per cent of the share capital of Kotak General Insurance Company. Consequently, Kotak General Insurance Company has ceased to be a wholly-owned subsidiary, and Kotak Mahindra Bank now holds a 30 per cent stake in Kotak General Insurance Company.
Indus Towers: The UK-based telecom operator Vodafone PLC is likely to sell a 9.94 per cent stake in Indus Towers on Wednesday through block deals, according to the media reports. The shares are expected to be sold in the price range of Rs 310-341, representing a discount of 10-0.8 per cent Tuesday’s closing price. Vodafone could raise approximately Rs 9,139 crore, or $1.09 billion.
Bharat Forge: The auto components company made an additional investment of $40 million in Bharat Forge America Inc, a wholly-owned subsidiary of Bharat Forge, to facilitate its capital expenditure for an aluminum forging facility.
One97 Communications: Goldman Sachs (Singapore) PTE sold 4.42 Lakh shares of Paytm at Rs 415.1 apiece, translated into a deal size of about Rs 183 crore. Marshall Wace Investment Strategies – Eureka Fund sold 5.85 Lakh shares of Paytm for Rs 425.05 in a block deal, translated into a deal size of about Rs 25 crore. The shares sold by Marshall Wace were lapped up by BNP Paribas.
Tata Technologies: The Tata Group's tech company has launched the second edition of Tata Technologies InnoVent Hackathon in collaboration with Microsoft and Tata Motors.
Kalpataru Projects International: The power firm has received an order from the customs authority demanding customs duty along with a penalty on grounds of alleged misclassification of the tariff item code of the goods imported. The order demands payment of customs duty of Rs 84.40 lakhs along with a penalty of Rs 84.40 lakhs and an additional penalty of Rs 7.86 lakhs.
Prestige Estates Projects: The real estate company's board will meet on June 21 to consider and approve raising funds through qualified institutions placements (QIP), preferential issue, rights issue, private placement, or any other form of capital raise.
Gland Pharma: Shanghai Fosun Pharmaceutical Group is in talks about cutting its stake in India’s drug maker through block deals after being unable to offload it in one go, said media reports citing sources familiar with the matter.
Birla Cables: The European Commission has proposed a provisional anti-dumping duty of 8.7 percent on the CIF Union border price. If implemented, exports of single-mode optical fiber cables to the European Union will be subject to this duty.
Ami Organics: The specialty chemical company's board will meet on June 21 to consider and approve the issue price of a QIP of equity shares with a face value of Rs 10.
Newteb Technologies: The super computer company launched its Make-in-India range of servers. The single and dual socket server platforms are designed to harness the robust capabilities of the latest 4th Gen AMD EPYC processors.
Apeejay Surrendra Park Hotels: The recently listed hotels company has signed a new hotel under the brand name 'The Park' in the foothills of Nainital, Uttarakhand.
ZF Commercial Vehicle Systems India: Germany-based ZF group is likely to sell up to 5 per cent stake in its Indian auto ancillary unit on Wednesday through block deals. The German firm is likely to sell at a floor price of Rs 14,980, a 13.3 per cent discount to Tuesday’s closing price Rs 17,277.15. The deal is expected to fetch Rs 1,423 crore. Citigroup is the banker to the deal.
Snowman Logistics: Promoter entity Gateway Distriparks has purchased 3 lakh equity shares or 0.18 per cent of Snowman Logistics through an open market offer. Prior to the additional purchase, the promoter held 45.98 per cent of the company.
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