Stocks to Watch: Angel One, Vodafone Idea, Grasim, Paytm, Spicejet, IRCTC
Angel One: The brokerage firm will raise nearly ₹2,000 crore through preferential issue, QIP or other modes, the company announced on February 22. The company in an exchange filing said it'll use the funds to augment and build financial flexibility to grow the business within the broking business and across inorganic avenues within the fintech space.
"The equity fund raise plan of up to ₹2,000 crore will allow the company to enhance its ability to invest beyond the current resources at hand, besides allowing it to maintain fiscal prudence in its journey to make Angel One a leading fintech platform," the company said. Vodafone Idea: The telecom company said in an exchange filing on February 22, that its board will convene on February 27 to consider all avenues of fundraising.
The company said that the board will "consider and evaluate any and all proposals for raising of funds in one or more tranches by way of a rights issue, further public offer, private placement including preferential allotment, qualified institutions placement or through any other permissible mode and/or combination thereof as may be considered appropriate...". Grasim Industries: Aditya Birla Group's Director Himanshu Kapania, said the group's new paints business, Birla Opus, expects to exit FY25 with high-single-digit market share and secure the second position in the decorative paints market, in a post-launch conference with media on February 22.
The comments come as industry players are betting high on the decorative cement business amid expectations for the sector to grow to ₹1 lakh crore in the next five years. The comments come as the group is set to add 40 percent addition to the current industry capacity after all the six plants start
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