BackStocks to watch: Force Motors, BHEL, RVNL, IEX, Tata Steel
Here are a few stocks likely to be in focus on Thursday, 6 June:
PremiumForce Motors: The company reported a 13.38% increase in domestic sales in May, selling 2,412 units. However, exports fell by 63.34 percent to 180 units.
TCNS Clothing: Shareholders have overwhelmingly voted in favor of the amalgamation of TCNS Clothing and Aditya Birla Fashion and Retail Limited, with 99.9% in favor.
Torrent Pharmaceuticals: The company has signed a non-exclusive patent licensing agreement with Takeda Pharmaceuticals to commercialize Vonoprazan, a novel potassium-competitive acid blocker (P-CAB) used for treating gastroesophageal reflux disease (GERD), in India. Torrent will market Vonoprazan under its trademark, Kabvie.
KP Green Engineering: The company has secured new orders from multiple clients amounting to ₹351.35 crore.
Tata Steel: The Netherlands may provide up to $3.26 billion for the green transformation of Tata Steel Ltd.’s IJmuiden factory, which has caused serious health and environmental problems in the surrounding area.
Bharat Heavy Electricals: The company received an order, worth ₹3,500 crore, for a 2x800 MW thermal power project in Uttar Pradesh from Adani Power's Mirzapur Thermal Energy (UP) Private Limited.
Trident: Operations at the company's Dhaula facility were disrupted due to a massive fire accident that occurred at 8.30 pm on Wednesday.
Edelweiss Financial Services: The company’s subsidiary, Edelweiss Rural and Corporate Services Limited, received a tax demand of ₹1.21 crores under Section 147 of the Income Tax Act, 1961. Other subsidiaries, Ecap Securities and Investments Limited and Edel Finance Company Limited, also received tax demands of ₹55.11 crores and ₹29.45 crores respectively.
Adani Power: The company was allotted 50 lakh equity shares of ₹10 each by Mirzapur Thermal Energy U.P. Private Limited on a preferential basis, increasing Adani Power’s stake in Mirzapur Thermal Energy to 99.8%.
RVNL: Rail Vikas Nigam has received multiple orders worth more than ₹500 crore.
Kalpataru Projects International: The company will discuss and approve a proposal for raising funds by issuing non-convertible debentures (NCDs) on a private placement basis.
Century Textiles and Industries: The company’s subsidiary Birla Estates has entered into a joint venture with Barmalt India for a luxury residential group housing development in Sector 31, Gurugram.
IEX: The Indian Energy Exchange (IEX) has achieved a total monthly volume of 10,633 MU in May 2024, reflecting a 28.9% year-over-year increase.
Reliance Infrastructure: The company has incorporated a new subsidiary, Reliance Risee Private Limited, which will provide advisory and consultancy services related to engineering and technology, and deal in commodities and their derivatives.
Aptech Limited: The company has been awarded a contract by the Ministry of Electronics and Information Technology to conduct computer-based tests.
Infinite India: Janisha Shah will step down as the compliance officer of the Trust effective 31 May.
Bharat Parenterals: The company plans to acquire around 99 lakh equity shares of its subsidiary, Innoxel Lifesciences, on a preferential basis at ₹64.90 per share, in addition to the equity it holds already.
PNB Housing Finance: The company’s nomination and remuneration committee approved a grant of 72,500 restricted stock unit of ₹10 each to certain eligible employees under the PNB Housing Restricted Stock Unit Scheme 2020.
Kalpataru Projects: The company’s board will meet on 10 June to discuss raising funds through the issuance of Non-Convertible Debentures on a private placement basis.
Heritage Foods: The company has launched a new range of pure ghee laddus under the brand name ‘Truly Good’.
VIP Industries: Nisaba Godrej has resigned as an independent director from the board of VIP Industries due to differences in succession planning with Dilip Piramal, the founder-chair of the company.
Uno Minda: The company has entered into an agreement with Suzhou lnovance Automotive for the manufacture and sale of select high voltage category electric vehicle products for passenger vehicle and commercial vehicle in India.
IndiGo: The airline is looking at various financing options for the wide-body planes that are expected to join its fleet in 2027.
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