Stocks to Watch: JK Tyre, Deepak Nitrite, Religare, BPCL
JK Tyre: The company has launched a QIP to raise funds. The floor price of ₹358.96 is a 5.2% discount to Tuesday's closing price. The company may offer a 5% discount on the floor price at its discretion.
IREDA: The board approved the raising of unsecured bonds worth ₹500 crore, with a green shoe option of up to ₹1,500 crore on a private placement basis. This is part of the company’s ₹26,000 crore borrowing program for FY24. Deepak Nitrite: Its subsidiary Deepak Phenolics has approved a binding term sheet with Petronet to offtake 250 KTPA of propylene and 11 KTPA of hydrogen from Petronet Petrochemical Project at Dahej, Gujarat, for 15 years.
Anupam Rasayan: The company approved a preferential allotment of 19,04,540 equity shares for ₹945.11 each to Rehash Industrial and Resins Chemicals, a promoter. The company has already received approval from BSE and NSE to issue these shares on a preferential basis. Doms Industries: The stationary and art products manufacturing company will list on the stock exchanges today.
Rail Vikas Nigam: The RVNL and Kerala Rail Development Corporation joint venture emerged as the lowest bidder for a contract to redevelop Varkala Sivagiri Railway station in Kerala. The project is expected to cost ₹123.26 crore and take 30 months to complete. Container Corporation of India: The company signed a memorandum of understanding with DB Schenker India to collaborate on EXIM and domestic business.
With the MoU, the companies aim to provide sustainable supply-chain practices in the logistics industry. Varun Beverages: The firm plans to acquire The Beverage Company in South Africa for ₹1,320 crore. It has also signed an MoU with the Jharkhand government to set up a manufacturing plant in Patratu with an
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