Stocks To Watch: L&T, Whirlpool, Kotak Mahindra Bank, NBCC, Angel One and more
L&T: Management tells CNBC-TV18 that their bidding pipeline in West Asia remains strong and there are many prospects which remain very active. L&T Energy today enjoys a healthy order book situation in Gulf with orders at an all-time high. Indian market offers enough opportunities for L&T, both in upstream and downstream businesses.Whirlpool of India: Block of 24% launched where promoter entity Whirlpool Mauritius is the seller. That is a CNBC-TV18 exclusive. The deal size includes 15% base size and a upsize option of 9% and is worth $450 million. The floor price of ₹1,230 per share is a 7.5% discount to Monday’s closing price. Goldman Sachs is the sole banker to the deal.Kotak Mahindra Bank: Re-designates Shanti Ekambaram as the Deputy MD of the bank from March 1, 2024. She is currently the whole-time Director of the bank. It has also re-designated KVS Manian as Joint MD from March 1, 2024. Devang Gheewala is the new CFO from April 1, 2024, while Milind Nagnur is the COO from April 1, 2024. Board to also meet on February 22, 2024 to consider dividend on preference shares.Deepak Fertilisers: Enters into a 15-year LNG contract with Norwegian Giant – Equinor. With this tie-up, the company has strengthened its value chain with an attractive, long-term LNG contract to solidify its value chain from Gas to Ammonia to various downstream fertilisers, Industrial Chemicals and Mining Chemicals. The agreement is for annual supplies of up to 0.65 million tonnes over a period of 15 years starting 2026.Mining Stocks: Government says it received 40 bids in offline form for mines under ninth round of the Commercial Coal Mine auctions. Auctions were launched in December 2023 for 32 coal mines.CIE Automotive: December quarter net profit of ₹168.9 crore from net loss of ₹657.8 crore. Revenue flat at ₹2,240 crore. EBITDA up 11.9% at ₹327.2 crore, while EBITDA margin at 14.6%, up 160 basis points year-on-year. All businesses in India performing well with positive expectations. European business flat due to slowdown, US off-highway market drop.NBCC: Wins three work orders totalling to ₹369.05 crore. The orders pertain to upcoming infrastructure development works of Rani Lakshmi Bai Central Agricultural University at Jhansi, construction of a single court complex and residential quarter in Telangana and renovation and furnishing of the ICAI Bhawan in Noida.ONGC: Arm Imperial Energy Ltd. to merge five of its step-down subsidiaries – IECL, IENL, RHL, BHL and SAIL with itself. ONGC has seven step-down subsidiaries in Cyprus through IEL. With this move, the total number of step-down subsidiary will be down to three.Piramal Enterprises: Board meet on February 22 to consider the issue of secured, rated, listed, redeemable NCDs worth ₹600 crore on a private placement basis.Angel One: Board meet on February 22 to consider fund raising.
