Market Commentary     28-Jun-24
Stock Alert
Stock alert: MTAR Tech, RIL, Stanley Lifestyle, Vedanta, SBI

MTAR Technologies' promoter Kavitha Reddy Gangapatnam sold 70,000 shares on June 26.

PTC Industries' promoter Alok Agarwal sold 6,000 shares on June 26.

Stanley Lifestyle will debut on the stock exchanges at an issue price of Rs 369 per share. The IPO was subscribed 96.98 times.

Reliance Industries said Jio raised tariff charges for multiple plans, which will be effective July 3.

Vedanta raised Rs 2,500 crore via NCDs.

State Bank of India raised Rs 10,000 crore via non-convertible long-term bonds.

Bharat Heavy Electricals has secured a Rs 13,300 crore contract to set up a 1600 MW thermal power plant in Koderma in Jharkhand from Damodar Valley Corp.

JSW Infra received a letter of acceptance from Southern Railway for the construction of a multi-modal cargo terminal.

Meanwhile, Unit JSW Ports will acquire a 70.37% stake in Navkar Corp. at Rs 95.61 per share, which has triggered a mandatory open offer for an additional 26% stake at a price of Rs 105.32 per share.

India Cements will be watched after Radhakishan Damani and associated entities sold a 22.8% stake via open market operations on Thursday.

RBL Bank approved raising up to Rs 3,500 crore via QIP or other means and up to Rs 3,000 crore via debt securities.

AU Small Finance Bank will raise up to Rs 5,000 crore via QIP or other means and up to Rs 6,000 crore via debt instruments.

Yes Bank executed a one-time settlement in one of its stressed loan exposures. The borrower will pay $23 million as a settlement against its dues.

Brigade Enterprises has launched a 6-tower residential project in Yelahanka, Bengaluru, with a revenue potential of Rs 1,100 crore.

RVNL incorporated a subsidiary, RVNL Middle East Contracting, in Dubai.

Inox Wind incorporated a wholly-owned subsidiary, Pokhran Wind Energy, as a special purpose vehicle to develop wind farms in lndia.

Wipro said that Units Designit North America and Wipro Designit Services completed their merger effective July 1.

Patanjali Foods received a show cause notice from the Karnataka State Pollution Control Board for non-compliance with water pollution regulations at its Mangalore unit.

Infosys clarified that there is no impact on its financial activities or operations following CEO Salil Parekh's settlement order.

IPCA Labs will be watched after an EU Court upheld a Rs 126 crore fine imposed on subsidiary Unichem Laboratories over a patent dispute with French company Servier. The company has already made provisions in their accounts for the fine.

Asian Paints' singapore unit completed the acquisition of a 23.4% stake in Egypt's SCIB Chemicals for Rs 34 crore and now holds an 85.6% stake in SCIB.

Raymond re-appointed Gautam Hari Singhania as MD effective July 1.

KPI Green Energy received a sanction letter for Rs 686 crore in credit facilities for a 200 MW solar project in Khavda. Rs 225 crore raised through a QIP earlier will be used to partially fund the project.

Piramal Enterprises said S&P Global assigned 'BB-' long-term and 'B' short-term ratings and affirmed 'a'stable' outlook.

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