Source: CNBCTV18
Stocks to watch, HAL, REC, YES Bank, Gland Pharma, Vedanta, Diamond Power Infrastructure, PowerGrid, Waaree Energies and more, these are the stocks to watch for tomorrow.
HAL | Leading defence PSU has refuted a media report claiming that its negotiations with General Electric (GE) over the local production of GE414 engines have stalled. The state-run aerospace and defence company called the report factually incorrect and misleading. An article published on a website suggested that talks between HAL and GE had faltered and that HAL was exploring engine alternatives with other manufacturers for its light combat aircraft (LCA) Mk2 programme.
REC | The Maharatna public sector undertaking said its board has approved a proposal to raise up to ₹1.55 lakh crore through the private placement of bonds or debentures. The fundraising, which may be executed in multiple tranches, will be subject to shareholder approval at the forthcoming Annual General Meeting.
YES Bank | A private sector lender said that CA Basque Investments, the Mauritius-based special purpose vehicle owned by Carlyle Group, has offloaded 2.62% of its shareholding in the bank, reducing its total stake to 4.22%. Following the sale, CA Basque no longer holds the minimum threshold required to retain its board nomination rights, as per the terms of the investment agreement signed with YES Bank on July 29, 2022.
Gland Pharma | The firm said that its material subsidiary, Cenexi, has received a final inspection report from France’s drug regulator, Agence nationale de sécurité du médicament et des produits de santé (ANSM), citing 11 observations related to Good Manufacturing Practices (GMP) compliance at its Fontenay manufacturing facility.
Vedanta | The company said it has increased its renewable energy power capacity to 1.03 GW and is on track to achieve 2.5 GW of green energy by 2030. The company has ramped up its renewable energy round-the-clock equivalent power capacity to 1.03 GW through power delivery agreements. The goal of achieving 2.5 GW of green energy by 2030 is aimed towards the ambitious target of achieving net-zero emissions by 2050 or sooner.
Diamond Power Infrastructure | Promoters Monarch Infraparks Pvt Ltd and GSEC Ltd will offload up to 5.98% stake in Diamond Power Infrastructure Ltd through an offer for sale (OFS). The base issue comprises 2.1 crore equity shares, representing 3.99% of the company’s total equity. An oversubscription option of an additional 1.05 crore shares has also been included, taking the total offer size to 3.15 crore shares or 5.98% of the equity capital.
PowerGrid | State-owned company said it has acquired MEL Power Transmission Ltd (MPTL), a special purpose vehicle, for an aggregate value of ₹8.53 crore. The acquisition includes 10,000 equity shares at face value along with MPTL’s assets and liabilities as on the acquisition date. The final acquisition cost is subject to adjustments based on the audited financials of MPTL.
Waaree Energies | Clean energy player, promoter of Indosolar Ltd, will sell up to 4,76,495 equity shares, representing 1.15% of Indosolar's total paid-up equity capital, through an offer for sale (OFS) on June 5 and 6, 2025. The move is aimed at meeting minimum public shareholding norms. The OFS will open for non-retail investors on June 5 (T day), with the option to carry forward unallotted bids to the next day. Retail investors, along with eligible carry-forward bidders, can place or revise bids on June 6 (T+1 day).
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