As the Indian stock market continues to thrive, several stocks are set to capture the spotlight before the opening bell on Friday, June 28, 2024. Key players in the market, including Stanley Lifestyles, Reliance Industries, HCL Technologies, Polycab, RVNL, Ambuja Cements, RBL Bank, AU Bank, JSW Infra, and more, are expected to be in focus.
Stanley Lifestyles Makes Market Debut
Bengaluru-based luxury furniture maker Stanley Lifestyles is set to debut on the BSE and NSE after successfully raising ₹1,500 crore through an IPO. The IPO was open from June 21 to June 25, with an issue price set at ₹369 per share. This much-anticipated listing is expected to draw significant attention from investors.
Reliance Industries Announces New Plans
Reliance Jio Infocomm has announced a series of new unlimited plans, which will take effect on July 3. These plans range from ₹189 for 2 GB per month to ₹3,599 for a 2.5 GB per day annual plan, all including unlimited 5G data for plans with 2GB/day and above. This move is likely to impact the telecom sector and keep Reliance in the limelight.
HCL Technologies Block Deal
HCL Technologies is likely to see a significant block deal worth ₹1,757 crore. According to a term sheet issued by Citigroup, an undisclosed seller will offload 1.24 crore shares, or 0.46% of the company, at a floor price of ₹1,414.9 per share, which is a 2.75% discount to its previous close. This deal is expected to attract considerable market interest.
Polycab India Promoter Deal
Promoters of Polycab India, Jaisinghani and family, are set to sell 30.70 lakh equity shares, or 2.04% of the company, in the price range of ₹6,535 to ₹6,985.25 through block deals. The deal is valued at ₹2,145 crore, a 6.5% discount from its previous close, according to Jefferies India. This transaction is likely to keep Polycab in focus.
AU Small Finance Bank Fundraising
AU Small Finance Bank has received board approval to raise up to ₹5,000 crore through equity shares via private placement, QIP, or preferential allotment. Additionally, the board approved raising up to ₹6,000 crore through debt instruments in one or more tranches. This significant fundraising effort is poised to impact the bank’s stock performance.
Samhi Hotels Stake Sale
GTI Capital Alpha is likely to sell a 3% stake in the recently listed Samhi Hotels via block deals. The floor price is set at ₹187.07 per share, with a base deal size of ₹120 crore and an upsize option of ₹193 crore. This stake sale will likely draw attention from investors interested in the hospitality sector.
RBL Bank Fundraising
RBL Bank has received board approval to raise up to ₹3,500 crore through qualified institutions placement and an additional ₹3,000 crore via debt securities on a private placement basis. These fundraising plans are expected to significantly influence the bank’s stock.
Ambuja Cements Merger
Ambuja Cements, part of the Adani Group, has approved a merger with Adani Cementation, a subsidiary of Adani Enterprises. This proposed scheme will consolidate the cement capacity within the group, potentially bringing synergistic benefits for all stakeholders and impacting the company’s stock.
Raymond Leadership Reappointment
Shareholders of textile major Raymond have approved the reappointment of Gautam Hari Singhania as Managing Director for five years, effective July 1. This leadership continuity is expected to provide stability and influence the company’s future growth.
Ipca Laboratories EU Fine
The Court of Justice of the EU has upheld a fine of 13.96 million euros (approximately ₹125.62 crore) imposed on Ipca Laboratories’ subsidiary Unichem Laboratories regarding a patent dispute settlement. This ruling is likely to affect the company’s stock.
JSW Infrastructure Acquisition
JSW Infrastructure’s subsidiary, JSW Port Logistics, has agreed to acquire a 70.37% shareholding in Navkar Corporation. Additionally, it has received a letter of acceptance for constructing and operating the Gati Shakti Multi-Modal Cargo Terminal (GCT) at Arakkonam, Tamil Nadu. These developments are set to influence JSW Infra’s stock.
KPI Green Energy Project
KPI Green Energy has received a sanction letter for credit facilities amounting to ₹686 crore for developing a 200 MWAC (240 MWDC) solar photovoltaic power project in Khavda, Gujarat. This project is expected to bolster the company’s renewable energy portfolio and stock performance.
Sagar Cements Leadership Reappointment
Sagar Cements has received board approval for the reappointment of S Anand Reddy as Managing Director and S Sreekanth Reddy as Joint Managing Director for three years, effective October 31. This leadership decision is expected to influence the company’s strategic direction and stock.
Rail Vikas Nigam Expansion
Rail Vikas Nigam Limited (RVNL) has incorporated a subsidiary, RVNL Middle East Contracting LLC, in Dubai. This expansion is part of RVNL’s strategic growth plans and is likely to impact its stock performance.
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