Stocks to watch: IndiGo, RVNL, TaMo, Vi, IRB Infrastructure, Jubilant Foodworks
Interglobe Aviation: Interglobe Enterprises, a promoter entity of Rahul Bhatia, is planning to sell a stake worth $394 million in Indigo Airlines’ parent company, Interglobe Aviation, via a block deal. The entity currently holds a 37.75% stake in Interglobe Aviation.
The proposed sale, which marks the first time in many years that Bhatia is looking to unlock value, involves offloading around 2% of his stake in the company.Vodafone Idea: The debt-ridden telecom company announced that its board will meet on June 13 to consider a proposal to issue equity shares or convertible securities on a preferential basis to vendors. The company has been reporting widening losses and a marginal increase in annual revenue from operations.RVNL: Rail Vikas Nigam Limited has been selected as the lowest bidder by Central Railway for work in the Amla-Nagpur Section in the Nagpur division of Central Railway, aiming to achieve a 3000 MT loading target.
Separately, a consortium of Siemens and RVNL has secured a contract worth ₹394 crore from Bangalore Metro Rail Corporation Ltd (BMRC), which involves engineering, supply, erection, testing, and commissioning of various systems, to be executed within 130 weeks.Transformers and Rectifiers India: The company has set a floor price of ₹699.95 per share for fund-raising through a qualified institutional placement.Tata Motors: The company is offering substantial savings on a range of sought-after models including the Tiago, Altroz, Nexon, Harrier, and Safari. Discounts and benefits reach up to ₹55,000 on select MY2024 units.IRB Infrastructure Developers: Cintra, a subsidiary of Spanish infrastructure group Ferrovial, is expected to sell up to a 5% stake in IRB Infrastructure Developers through a block
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