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Stocks in News: L&T Finance, Paytm, Nestle, GMR Airports, Sobha and 360 ONE
Indian stock indices managed to register moderate gains during Wednesday’s trading session ahead of the US Fed’s policy outcome. BSE Sensex jumped 149.98 points, or 0.20 percent, to 76,606.57. NSE’s Nifty50 index rose 58.10 points, or 0.25 percent, to end the session at 23,322.95. Here are the stocks that could remain in the spotlight before the opening bell on Thursday, June 13, 2024:
Financial holdings of L&T: US-based investment firm Bain Capital and BNP Paribas are likely to sell 8.82 million shares worth Rs 180 crore (Rs 1,500 crore) through block deals, according to media reports. The minimum deal price was Rs 169.19 each.
Nestlé India: The global FMCG company has approved the continuation of payment of general license fees at the current rate of 4.5% to its Swiss parent company.
Communication 97: The IRDAI has accepted the withdrawal of Paytm’s application for registration of its associated company as a ‘general insurance company’. The fintech company will now focus on insurance distribution rather than insurance production.
GMR airports and infrastructure: The Chandigarh bench of NCLT has approved the merger of GMR Airports Limited and GMR Infra Developers Limited into GMR Airports Infrastructure Limited.
Sobha: The real estate company informed that its board of directors approved the proposal to issue the Company’s shares through the issuance of rights to the company’s eligible shareholders on the registration date. The company aims to raise around Rs 2,000 crore through rights issue.
Amber Companies: The home appliance maker acquired an additional 4.6% stake in IL JIN Electronics. IL JIN Electronics is engaged in manufacturing, assembling or marketing printed circuit board assemblies.
Exide Industries: The automotive components company invested Rs 74 million by subscribing to the equity capital of its wholly-owned subsidiary, Exide Energy Solutions Limited.
Swirl of India: The consumer durables maker has teamed up with Hindustan Unilever for a marketing alliance with Surf Excel, a HUL brand. The aim is to transform and enhance the laundry experience for consumers in India.
360UM WAM: The financial services and securities brokerage company has signed a definitive agreement to acquire ET MONEY, a digital platform focused on wealth management. The acquisition was made for Rs 365.82 crore from Times Internet.
BLS International Services: The tourism and visa services provider’s wholly-owned subsidiary, BLS International FZE, will acquire 99 percent of the shares of Balozi Liaison Services, a company incorporated under the law of Egypt.
MoneyBoxx Finance: The shadow lender has opened its new branches with effect from June 12, 2024 in Alote (Madhya Pradesh) and Pratapgargh (Rajasthan).
Red tape: The footwear manufacturing and trading company has started operational activity at its newly constructed warehouse situated in Howrah, West Bengal.
Integrates Essence: The company received fresh orders worth Rs 2,100 crore for its agro and infrastructure business segments.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult a qualified financial advisor before making any investment decisions.