Stocks to Watch: Paytm, Dalmia, ICICI Bank, Tata Motors, HCL Tech

One 97 Communications: The board of One 97 Communications Ltd, the operator of the country's largest digital payments provider Paytm, will meet today to consider a share buyback proposal after the fintech firm's stock lost three-quarters of its value since its initial public offering last year. Paytm directors are expected to take a call on the number of shares the fintech company will potentially repurchase and at what price.

Dalmia Bharat/Jaiprakash Associates: Debt-laden Jaypee Group has agreed to sell its cement business to Dalmia Cement (Bharat) Ltd at an enterprise value of ₹5,666 crore, the company said. Jaypee has been trying to reduce debt after SBI initiated insolvency proceedings against it for failing to settle dues of ₹6,892 crore. It has signed a binding framework agreement with Dalmia to sell its cement, clinker, and power plants, which have a cement capacity of 9.4 million mtpa, clinker capacity of 6.7 mt, and thermal power capacity of 280 mW.

ICICI Bank: On Monday, the private sector lender ICICI Bank announced that it has raised ₹5,000 crore through long-term bonds at a coupon of 7.63% p.a. payable annually and were issued at par. The bonds would be listed in the relevant segment of the NSE, and the bonds are rated “CARE AAA; Stable" by CARE Ratings Limited, “CRISIL AAA/Stable" by CRISIL Ratings Limited and “[ICRA]AAA (Stable)" by ICRA Limited, said the bank in a stock exchange filing.

Tata Motors: Tata Motors on Monday said that the company board has given in-principal approval for partial disinvestment in its subsidiary Tata Technologies via the IPO route. In a meeting held on Monday, the company board decided to explore partial disinvestment of its investment in Tata Technologies, a global product engineering and digital services company.

Kirloskar Brothers Ltd: The shareholders of Kirloskar Brothers Ltd (KBL)have rejected a resolution pertaining to a forensic audit of the affairs of the company, a stock exchange filing said on Monday. On December 8, Kirloskar Brothers Ltd called for an extraordinary general meeting (EGM) of its shareholders to consider and approve a forensic audit of the affairs of the company by an external agency.

Macrotech Developers: Real estate company Macrotech Developers Ltd, promoter group of Lodha, on Monday announced that the company has raised approximately Rs. 3,547 crores by selling approximately 7.2% of the equity share capital of the company through a Qualified Institutional Placement (QIP) by way of offer for sale. The issue opened on December 07, 2022 post market and closed on December 12, 2022. The issue was priced at Rs. 1,026 as against the floor price of ₹1022.75, according to the regulatory filing.

BGR Energy Systems: BGR Energy Systems on Monday said it has bagged orders worth ₹330 crore from Indian Oil Corporation Ltd for civil and structural works at Panipat Refinery Project Complex. The contract is valued at ₹330 crore excluding GST (Goods and Services Tax) and the contract completion period is 18 months, according to a regulatory filing. The orders are for the construction of civil and structural works in Panipat, Haryana, the filing added.

Godrej Agrovet: Godrej Agrovet on Monday said it has sold 3.92 acres of land in Tamil Nadu for ₹71.36 crore in two separate deals. In a regulatory filing, the company said it has entered into two sale deeds for the transfer of 3.92 acres situated at Ambattur, Tamil Nadu for a total consideration of ₹71.36 crore. The company has sold 0.65 acres to Godrej and Boyce Manufacturing Company Ltd for ₹11.83 crore. In another deal, it sold 3.27 acres to Minerva Veritas Data Centre Pvt Ltd for ₹59.53 crore.

HCL Tech: Snack company Mondelez International has expanded its multi-year contract with IT company HCL Technologies to enhance cybersecurity and transform digital workplace services globally. To support its hybrid workplace model, Mondelez International deployed HCL Tech technology to automate the discovery and remediation of potential vulnerabilities across all endpoints, including servers, mobile devices and laptops.

Hindustan Oil Exploration Company: HOEC on Monday said it has resumed crude oil production from a well in its Mumbai offshore B-80 field after plugging a leak. Well D-1 on the B-80 field was shutdown down due to a leak in a production control line. "Company has resumed oil production from D-1 well in its B-80 field, located in western offshore, after arresting a leak in the SCSSV control line," the firm said in a regulatory filing.