Stocks to Watch: Vodafone Idea, Patanjali Foods, GE T&D, Salasar Techno and more
Vodafone Idea | The board of directors of the company approved a fund raise of up to ₹20,000 crore via a combination of equity or equity-linked instruments, the telecom firm informed exchanges. VIL also added that the company remains actively engaged with its lenders for tying up the debt funding, which will follow the equity fundraising.Patanjali Foods | The company on Tuesday said the company’s business operations and financial performance will not be impacted because of the Supreme Court’s observation on ads related to ayurvedic medicines sold by a promoter group firm. “The observations do not have any bearing on the regular business operations or the financial performance of Patanjali Foods,” the company said.GE T&D | Power transmission company said it has secured orders worth approximately ₹370 crore from Power Grid Corporation of India for the supply of 765 kV shunt reactors for various transmission system projects in India. These projects aim to facilitate the integration of renewable energy into the national electricity grid and enhance electricity transmission within the country.Salasar Techno | Infrastructure firm on Tuesday said it received an order worth ₹200 crore from ZETWERK Business for the supply of 25,000 MT of solar structures. The contract, valued at over ₹200 crore will see Salasar providing the specified quantity to ZETWORK or its affiliates for subsequent export.Texmaco Rail | The flagship company of the Adventz Group on Tuesday said its board of directors has approved plans to raise up to ₹150 crore through a preferential issue of convertible warrants to its promoters and promoter groups. The board has authorised its Capital Issue Committee to finalise the structure, terms, and conditions of the issuance, as well as other related matters.Torrent Power | The company on Tuesday said it has emerged as a successful bidder and received a Letter of Intent from PFC Consulting for the establishment of an inter-state transmission scheme in Solapur (1,500 MW) SEZ in Maharashtra under the Tariff Based Competitive Bidding Process. The project entails the setting up of a transmission line of nearly 44 kms from Solapur Substatation of PGCIL to Solapur sub station.Piramal Pharma | The company said its step-down wholly owned subsidiary, Piramal Critical Care B.V. (PCC BV), has been fined €1,82,001 by the Audiencia Nacional, Spain. The fine was imposed for non-supply of a product in Spain during a brief period from May 22, 2019, to June 18, 2019. This period coincided with the transfer of the Marketing Authorization in Spain from Janssen Pharma S.L. to PCC BV on May 22, 2019.Titan | Tata Group firm on Tuesday said it has acquired the remaining 0.36% stake of CaratLane Trading Private Ltd (CaratLane) for ₹60.08 crore. Currently, Titan holds 99.64% of CaratLane’s equity share capital. Upon the completion of this transaction, CaratLane will transition into being a wholly-owned subsidiary of Titan Company.Finolex Cables | Leading manufacturer of electrical and telecommunication cables said on Tuesday it is set to delist its global depository receipts (GDRs) from the Luxembourg Stock Exchange effective April 15, 2024. This follows an earlier notice of termination issued by Citibank N.A., acting as the depository, to GDR holders on February 13, 2024.ZEEL | The company board on Tuesday renamed the independent advisory panel as the independent investigation committee, the company declared in an exchange filing. ZEEL’s announcement comes amid the ongoing probe by market regulator Sebi against its promoters for fund diversion.
