Stocks To Watch On June 14: Equity indices hit their fresh record levels on Thursday after lower-than-expected inflation raised hopes of an interest rate cut by the RBI. In today’s trade, L&T Finance, Ambuja Cement, Vodafone Idea, Puravankara, Wipro among others will be in focus due to various news developments.
Ambuja Cements, Adani Group stocks: Ambuja Cements, a subsidiary of the Adani Group, announced on Thursday the acquisition of Penna Cement Industries Ltd (PCIL) for an enterprise value of ₹10,422 crore. The acquisition, formalised through a binding agreement, will augment the Adani group’s capacity by 14 MTPA (million tonnes per annum), bringing the total to 89 MTPA.
Vodafone Idea: The telco’s board has approved the issue of up to 166.07 crore shares in one or more tranches worth up to ₹2,458 crore to Nokia Solutions and Networks India Pvt. Ltd and Ericsson India Pvt. Ltd, it said in an exchange filing.
Suzlon Energy: The renewable energy major informed the exchanges on Thursday evening that it has appointed Khaitan & Co., an eminent law firm in India, to conduct a review of its corporate governance practices. The moves comes a few days after one of Suzlon’s independent director, Marc Desaedeeler quit, citing corporate governance issues.
Brigade Enterprises: The Bengaluru-based real estate major expects its FY-25 residential launches to see an average pricing of ₹10,000/sqft.
RITES: The Delhi Metro Rail Corporation (DMRC) and Rail India Technical and Economic Service (RITES) signed a Memorandum of Understanding (MoU) to collaborate and jointly explore consultancy assignments in India and abroad in the field of Mass Rapid Transit System.
Havells: The company has announced plans to expand AC manufacturing capacities at Ghiloth and Sricity locations to 15 lakh units per year each, with an investment of ₹50-60 crore. The capacity enhancements, slated for completion by Q4FY25, will be funded through internal accruals.
Wipro: Wipro joined hands with Siemens to transform automotive software development by integrating the PAVE360.
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