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Dhanlaxmi Bank, Hindustan Construction Company, Amara Raja Energy, Exide Industries, IndiGo, Bharti Airtel and Other are stocks to watch today.
Stocks To Watch Today.
Even as the domestic equity markets are showing negative signals, stock-specific trades are getting significant profits. Among the top stocks to keep a watch on Friday, December 20, are Dhanlaxmi Bank, Hindustan Construction Company, Amara Raja Energy, Exide Industries, IndiGo, and Bharti Airtel.
Bharti Airtel: The company has prepaid Rs 3,626 crore to the Department of Telecom, clearing all its liabilities for the spectrum it had acquired in 2016. With this, Airtel has now prepaid all its spectrum dues that had interest costs higher than 8.65%. Airtel has prepaid a total of Rs 28,320 crore of spectrum liabilities in 2024.
Rights Issue Approval
Dhanlaxmi Bank: The Board has given the nod for a rights issue of equity shares valued at ₹297.54 crore, priced at ₹21 per share. The subscription window is scheduled from January 8 to January 28, 2025.
Major Order Wins
GE Vernova T&D India: Secured an order worth ₹400 crore from Sterlite Grid 32 to supply and oversee HV equipment for a transmission project.
Zodiac Energy: Bagged its inaugural international rooftop solar order worth $720,626 in Zambia. The project includes a 2 MWp grid-tied rooftop system integrated with a battery energy storage system.
Fundraising & Investments
Hindustan Construction Company: Concluded its QIP, raising ₹600 crore by issuing 13.95 crore shares at ₹43.01 per share. Investors include Societe Generale, Citigroup Global, SBI General Insurance, and Leading Light Fund.
InterGlobe Aviation: The Board has sanctioned a $43 million loan for its subsidiary, InterGlobe Aviation Financial Services IFSC.
Strategic Developments
Amara Raja Energy & Mobility: Hyundai Motor India will adopt Amaron’s AGM batteries for SLI applications, under its current procurement agreement.
Exide Industries: Its subsidiary, Exide Energy Solutions, inked a binding term sheet with Hyundai Motor India to produce and supply battery cells for Hyundai’s EVs.
KPI Green Energy: Signed an MoU with the Rajasthan government for hybrid solar and wind power projects in Jaisalmer.
BASF India: Gave in-principle approval to demerge its agricultural solutions business, which generated ₹2,006.46 crore in FY24, into a separate listed entity.
Leadership Updates
Tolins Tyres: CMA Sojan C S has been appointed CFO, effective December 19, 2024.
AU Small Finance Bank: RBI approved Harun Rashid Khan’s reappointment as part-time chairman for three years from December 28, 2024.
Hyundai Motor India: Reappointed Unsoo Kim as Managing Director for three years, starting January 25, 2025.
Focus on F&O Ban
Stocks like Bandhan Bank, Granules India, Hindustan Copper, Manappuram Finance, NMDC, PVR INOX, and SAIL remain under the F&O ban list.