Stocks on Focus: IndiGo, RVNL, TaMo, Vi, IRB Infrastructure, Jubilant Foodworks

Stocks on Focus: IndiGo, RVNL, TaMo, Vi, IRB Infrastructure, Jubilant Foodworks
Stocks to watch on Tuesday, June 11, 2024: Indian markets are expected to continue consolidating on Tuesday due to a lack of clear triggers. As of 7:43 AM, GIFT Nifty was up 29 points at 23,276 levels. Globally, Japan's Nikkei was up 0.28 percent, while South Korea's Kospi gained 0.55 percent. ASX and Han Seng, however, fell by up to 1.8 percent.
Interglobe Aviation: Interglobe Enterprises, a company associated with Rahul Bhatia, is planning to sell a stake worth $394 million in the parent company of Indigo Airlines, Interglobe Aviation, through a block deal. The entity currently holds a 37.75 percent stake in Interglobe Aviation. This proposed sale, which marks the first time in many years that Bhatia is looking to unlock value, involves the offloading of around 2 percent of his stake in the company.
RVNL: Rail Vikas Nigam Limited has been selected as the lowest bidder by Central Railway for work in the Amla-Nagpur Section, located in the Nagpur division of Central Railway. The project aims to achieve a loading target of 3000 MT. In addition, a consortium of Siemens and RVNL has secured a contract worth Rs 394 crore from Bangalore Metro Rail Corporation Ltd (BMRC). This contract involves engineering, supply, erection, testing, and commissioning of various systems to be completed within 130 weeks.
Tata Motors: The company is offering significant discounts on a range of popular models, including the Tiago, Altroz, Nexon, Harrier, and Safari. Discounts and benefits of up to Rs 55,000 are available on selected units.
Vodafone Idea: The telecom company, burdened by debt, has announced that its board will convene on June 13 to discuss a proposal to issue equity shares or convertible securities on a preferential basis to vendors. The company has been experiencing increasing losses and only a slight rise in annual revenue from operations.
IRB Infrastructure Developers: Cintra, a subsidiary of Spanish infrastructure group Ferrovial, is expected to sell up to a 5 percent stake in IRB Infrastructure Developers through a block deal. The deal, priced between Rs 63-70.16 per share, represents up to a 10.2 percent discount to the last closing price. The transaction size is approximately Rs 1,900.3 crore at the lower end of the price band.
Jubilant Foodworks: The master franchise operator for Domino's in India plans to double its outlets to 4,000 in the next four years. To reach its medium-term goal, the company aims to open approximately 200 new stores in India annually.
Transformers and Rectifiers India: The company has set a floor price of Rs 699.95 per share for fund-raising through a qualified institutional placement.
Power Grid Corp.: The company has successfully implemented the ‘Reliable Communication Scheme under Central Sector for the Northern Region’ from April 1.
One 97 Communications: Paytm's founder and CEO, Vijay Shekhar Sharma, is reconnecting with his former allies and trusted team members as he seeks to rejuvenate the company. In the face of internal conflicts and regulatory challenges, Sharma is personally overseeing various areas to boost growth, decrease customer attrition, and restore trust among partners, merchants, and customers.
PVR Inox: The multiplex chain is concentrating on expanding its fastest-growing segment, which is the food and beverage (F&B) section. The multiplex operator has partnered with EazyDiner to provide its customers with up to a 25 percent discount on popcorn, Pepsi, and more for payments made through EazyDiner.
Kalpataru Projects International: The company announced that its board has approved a proposal to raise Rs 300 crore through the issuance of Non-Convertible Debentures (NCDs) on a private placement basis. A total of 30,000 NCDs, each with a face value of Rs 1,00,000, aggregating to Rs 300 crore, are proposed to be issued.
Mphasis: Kotak Mahindra Mutual Fund, Morgan Stanley, and Societe Generale have acquired Mphasis shares worth almost Rs 1,900 crore. Blackstone, the major shareholder in Mphasis, has sold a 15.1 percent stake in the company.
Suzlon Energy: The company clarified that there are no financial irregularities or compliance violations within the organization following the resignation of its independent director, Marc Desaedeleer. In his resignation letter, Desaedeleer raised corporate governance issues within the company.
Bank of India: The bank has acquired a 6.125 percent stake in Clearing Corporation of India Ltd. (CCIL) IFSC, a newly incorporated entity listed in GIFT SEZ, for Rs 6.125 crore. This acquisition reflects the bank’s commitment to IFSC's growth. CCIL IFSC, promoted by Clearing Corporation of India Limited (CCIL), is set to build and operate a real-time foreign currency settlement system at GIFT City, India’s only operational international financial services centre.
Havells India: The company has announced a strategic partnership with Jumbo Group, a consumer electronics and technology product distributor based in the UAE, to enter the kitchen appliances market. The products will be available on Jumbo’s e-commerce website, followed by distribution in retail stores at Jumbo Electronics outlets.
Infosys: GitHub, a developer platform owned by Microsoft, has teamed up with Infosys to establish its first GitHub Center of Excellence (CoE). The partnership aims to accelerate the software production process by collaborating with Global System Integrators (GSIs).
NLC India: NLCIL has announced that its board has approved a plan to raise up to $600 million through External Commercial Borrowings (ECB) to meet its business requirements. Additionally, the board granted in-principle approval for an investment of up to Rs 994.50 crore in NLC India Renewables, a wholly-owned subsidiary of NLC India.