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Stocks to watch: Shares of firms like Vedanta, Godrej Properties, BoB, HDFC Bank, Biocon, NBCC, and others will be in focus on Thursday’s trade
Stocks To Watch
Stocks to Watch on November 28: Domestic markets remained in a narrow range for the third consecutive session, finishing slightly higher and continuing their consolidation phase. Today, shares of several companies, including Waaree Renewable, Godrej Properties, Vedanta, PCBL, and Natco Pharma, will be in focus due to notable news developments.
Adani Group Stocks: Adani Green Energy stated that three of its top executives — Gautam Adani, Sagar Adani, and Vneet Jaain — are not implicated in the charges filed by US authorities under the Foreign Corrupt Practices Act (FCPA). The Department of Justice (DoJ) indictment, which includes five charges, does not mention the three executives in connection with “Conspiracy to Violate the FCPA” or “Conspiracy to Obstruct Justice.” This follows bribery charges filed by the US SEC last week against Gautam Adani and others related to Adani Green Energy Limited (AGEL) projects.
Public Sector Bank (PSB) Stocks: Public sector banks (PSBs) have received approval from the Finance Ministry to raise Rs 25,200 crore through the equity market in FY 2024-25. The move aims to strengthen PSBs’ growth and meet the regulatory requirement of 25% minimum public shareholding.
Vedanta: Moody’s upgraded the corporate family rating of Vedanta Resources Ltd (VRL) from B3 to B2, citing successful liability management efforts. Additionally, Vedanta Aluminium has teamed up with PwC India to enhance biodiversity conservation and reduce carbon emissions in Jharsuguda, Odisha.
Mahindra & Mahindra: Mahindra & Mahindra has committed Rs 4,500 crore for the development of two new electric vehicle brands, which includes building production capacity.
Godrej Properties: Godrej Properties launched a Qualified Institutional Placement (QIP) offering to raise up to Rs 6,000 crore to support its growth initiatives.
Bank of India (BoI): Bank of India raised Rs 5,000 crore via a 10-year infrastructure bond issuance, offering a coupon rate of 7.41%.
Bank of Baroda (BoB): Bank of Baroda raised Rs 3,500 crore by issuing Basel III-compliant Tier-2 bonds at a coupon rate of 7.41%.
HDFC Bank: HDFC Bank launched the Pragati Savings Account, aimed at meeting the banking needs of rural and semi-urban residents across India.
Biocon: Biocon Biologics, a subsidiary of Biocon, announced progress in its ‘Embedding Specialist Nurses in Diabetes Care’ project in collaboration with Diabetes Africa and St Paul’s Hospital Millennium Medical College in Ethiopia.
Emami Realty: Emami Realty is planning to develop 22 million square feet of residential and commercial spaces over the next seven years, with a revenue potential of Rs 15,000 crore.
KEC International: KEC International secured prestigious turnkey orders worth Rs 1,704 crore in its Transmission & Distribution (T&D) business for the design, supply, and installation of 765 kV Transmission Lines and GIS Substations from Power Grid Corporation of India Limited (PGCIL).
Aster DM: Aster DM Healthcare has entered into an agreement to acquire the remaining 13% stake in Aster Aadhar Hospital (formerly Prerana Hospital).
Hero MotoCorp: Hero MotoCorp has launched a program to support startups in the automotive industry.
NBCC: NBCC signed a memorandum of understanding (MoU) with Hudco for a Rs 600 crore project to develop a 10-acre land parcel in Noida.
Waaree Renewable: Waaree Renewable Technologies received a Rs 1,233.5 crore order for a ground-mounted Solar PV project with a capacity of 2012.47 MWp DC.
Natco Pharma: Natco Pharma sold 14.38 acres of land in Ranga Reddy District, Telangana, for Rs 115.57 crore.
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