Stocks To Focus: Reliance Industries, Telecom Stocks, Wockhardt Hospitals, Raymond, JSW Infra

By siliconindia  |  Friday, 28 June 2024, 09:38:31 AM IST

Stocks To Focus: Reliance Industries, Telecom Stocks, Wockhardt Hospitals, Raymond, JSW Infra
Stocks to Watch on Friday, June 28, 2024: Benchmark equity indices may extend their winning streak on Friday, backed by a positive trend in Asian peers. At 8:20 am, GIFT Nifty futures quoted around 24,190 levels, hinting at a likely gap-up of over 50 points on the Nifty 50.
Reliance Industries: On Thursday, June 27, Reliance Jio announced a 12 percent to 25 percent tariff hike on its prepaid and postpaid plans, marking its first price increase in two and a half years.
Telecom Stocks: The new plans will take effect from July 3. This announcement follows Jio's acquisition of 14.4 MHz of spectrum in the 1800 MHz band for Rs 973 crore in the recent auction. Other major telecom operators, Bharti Airtel and Vodafone Idea, are also expected to raise their tariffs soon.
Wockhardt Hospitals: Wockhardt Hospitals in Mira Road has been accredited for its Advanced Stroke Centre by the Quality and Accreditation Institute's (QAI) Centre for Accreditation of Health and Social Care (CAHSC). CAHSC operates accreditation and certification programs in the health and social care sector.
Raymond: Raymond shareholders approved the reappointment of Gautam Hari Singhania as Chairman and Managing Director for a five-year term starting on July 1, 2024. Singhania received majority support during the company’s Annual General Meeting on Thursday. 
JSW Infrastructure: JSW Infrastructure has announced its acquisition of a 70.37 percent stake in Navkar Corporation for approximately Rs 1,012 crore on Thursday. This move marks JSW's entry into the logistics industry. The company has entered into a share purchase agreement with certain promoters and members of the promoter group of Navkar Corporation to acquire 10,59,19,675 equity shares, representing 70.37 percent of Navkar’s total equity share capital, at a price of Rs 95.61 per share, as per a filing by JSW Infrastructure.
BHEL: State-owned engineering firm BHEL has been awarded a Rs 13,300 crore contract to build a 1,600 MW thermal power plant in Koderma, Jharkhand, by the Damodar Valley Corporation (DVC). The DVC finalized the tender for the engineering, procurement, and construction (EPC) package of Koderma TPS (2X800MW) with BHEL on June 26, 2024, as stated by the power ministry. This investment is expected to significantly boost the local economy and benefit residents, raising DVC’s installed thermal generation capacity to 8,140 MW by 2030.
AU Small Finance Bank: The private sector lender plans to raise up to Rs 5,000 crore through Qualified Institutional Placement (QIP) and other methods and intends to borrow up to Rs 6,000 crore by issuing debt instruments.
India Cements: Billionaire investor Radhakishan Damani and his associates sold a 23 percent equity stake in India Cements for Rs 1,889 crore. The transaction was completed at an average price of Rs 267.74 per share on the BSE. UltraTech Cement, India's leading cement manufacturer, acquired the entire block with the aim of bolstering its presence in the southern market.
UltraTech Cement: India's largest cement company, UltraTech Cement, has approved the acquisition of a nearly 23 percent stake in India Cements, as per their board's announcement.
Polycab: The promoters plan to sell up to a 2.04 percent stake through block deals at an offer price ranging between Rs 6,535 and Rs 6,989.25 per share. This represents a discount of up to 6.5 percent from Thursday’s closing price. At the lower end of the price band, the offer size totals Rs 2,005.9 crore. Additionally, there will be a 90-day lock-up period on any further sale of shares.
Ambuja Cement: On Thursday, June 27, Adani Group’s Ambuja Cements Ltd announced that its board of directors has approved the merger with Adani Cementation Ltd (ACL).
RBL Bank: The board has approved plans to raise funds totaling Rs 3,500 crore in one or more stages, which will make up 15 percent of the bank's equity share capital after the issue. Additionally, the bank has authorized the issuance of debt securities through private placement, with the goal of raising up to Rs 3,000 crore in one or more stages over time.
Samhi Hotel: GTI Capital Alpha is planning to sell a 3 percent stake in Samhi Hotels through block deals. The floor price is set at Rs 187.07 per share, which is a 1 percent discount to Thursday’s closing price. The initial size of the deal is 3 percent, but there is an option to increase it to 5 percent. At the base size, the deal amounts to Rs 120 crore, and if upsized, it could reach Rs 193 crore. As of the end of the March quarter, GTI Capital Alpha held a 6.24 percent stake in Samhi Hotels.

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