Buzzing Stocks: Vodafone Idea, IRCTC, Olectra Greentech, Tata Elxsi, Bajaj Auto & others

Results on February 23: Rain Industries, Sanofi India, Valecha Engineering, Enkei Wheels (India), and Foseco India will be in focus ahead of declaring their quarterly earnings on February 23.

Vodafone Idea: The telecom operator said its board of directors will meet on February 27 to consider all proposals for raising funds in one or more tranches by way of a rights issue, further public offer, private placement, including preferential allotment, qualified institution placement, or through any other permissible mode. The trading window for dealing in securities of the company will be closed on February 23–29.

Indian Railway Catering and Tourism Corporation: IRCTC has tied up with Bundl Technologies (Swiggy Foods) for the supply and delivery of pre-ordered meals through the IRCTC e-catering portal as a proof of concept in the first phase at four railway stations, i.e., Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. The eCatering service through Bundl Technologies may be available soon.

Olectra Greentech: The Consortium of Olectra Greentech and Evey Trans (EVEY) has received a Letter of Award (LOA) from Brihan Mumbai Electric Supply & Transport Undertaking (BEST) for the supply, operation, and maintenance of 2,400 electric buses on a gross cost contract basis. These buses, valued at Rs 4,000 crore, will be delivered over a period of 18 months.

Tata Elxsi: The Tata Group company, through its NEURON product suite, announced a strategic partnership with Accuknox, the developer of NIMBUS. This strategic partnership helps operators roll out secure 5G networks with inline mitigation and makes the network future-ready for 6G.

Oil India: The company has signed a Memorandum of Understanding (MoU) with Fertilisers and Chemicals Travancore (FACT), a public sector company, to explore opportunities in the domain of green hydrogen, including green ammonia, green methanol, and other derivatives.

Bajaj Auto: The Pune-based two-and-three-wheeler company has made further investment of Rs 45.75 crore in Yulu Bikes, which is India’s largest shared electric two-wheeler mobility company. After the fresh investment, Bajaj Auto’s shareholding in Yulu Bikes now stands at 18.8 percent.

Bandhan Bank: The bank said the board of directors approved and appointed Abhijit Ghosh, Head, Finance & Accounts, as the Interim Chief Financial Officer and Key Managerial Personnel of the Bank, with effect from October 20 until the time a new CFO is appointed by the board.

Ramkrishna Forgings: The rolled, forged, and machined products maker has received board approval for the commencement of manufacturing and supplies from the company’s Mexico location. The board has also given approval for an investment of up to Rs 90 crore to establish a facility to manufacture components in the PV/LV segment.

Jana Small Finance Bank: The scheduled commercial bank has recorded 12.82 percent on-year growth in net profit at Rs 134.64 crore for the quarter ended December FY24. Net interest income for the quarter grew by 24.4 percent to Rs 548.5 crore compared to the year-ago period. Asset quality improved on a sequential basis, with gross non-performing assets (NPA) falling 25 bps QoQ to 2.19 percent and net NPA declining 16 bps QoQ to 0.71 percent for the quarter.

Angel One: The retail broking house has received approval from board members for fund raising up to Rs 2,000 crore through a preferential issue, further public offer, or qualified institution placement (QIP).

Concord Biotech: The Ministry of Health Pharmacy and Poisons Board, Republic of Kenya, had conducted an inspection of Unit II (formulation facility) of the company at Valthera-Dholka (Unit II) in Ahmedabad. The said inspection has been completed successfully without any adverse remarks, and the company has received the certificate of good manufacturing practices (GMP).

Dilip Buildcon: The infrastructure company has executed the concession agreement with the Public Works Department, Government of Goa. The company will do the construction of observatory towers and viewing galleries, including approaches, decorative lighting, and parking for the New Zuari Bridge on the Panjim-Mangalore section of DBFOT Mode in Goa. The project cost is Rs 270.07 crore.

Bank of Maharashtra: The Department of Financial Services has notified the appointment of A. S. Rajeev, MD and CEO of the bank, as Vigilance Commissioner in the Central Vigilance Commission. Hence, A. S. Rajeev is relieved from the bank with effect from February 22.

Sona BLW Precision Forgings: The automotive ancillary company has received certification for one of its products, i.e., hub wheel drive motors for electric two-wheelers, under the production-linked incentive (PLI) scheme for the automobile and auto component industry in India (PLI-Auto), from the Ministry of Heavy Industries for availing of the benefits and incentives under the PLI Scheme.

Paisalo Digital: The company said a meeting of the Operations and Finance Committee is scheduled to be held on February 27 to consider and approve the allotment of NCDs through private placement.

Texmaco Rail & Engineering: The railway company said the Board of Directors will be meeting on February 27 to consider proposals for raising funds.

Zydus Lifesciences: The pharma company has incorporated a wholly owned subsidiary in the name of Zydus Lifesciences Global FZE in Jebel Ali Free Zone (ZAFZA), United Arab Emirates (UAE).

GR Cables: The board of directors of the company has approved the appointment of Lingala Venkat Ram as the Chief Financial Officer with immediate effects. However, Renuka Rao Chinta has resigned from the post of CFO of the company pursuant to the reconstitution of the board of the company in accordance with the resolution plan approved by the National Company Law Tribunal (NCLT).

Salasar Techno Engineering: RVNL-Salasar JV emerged as the lowest bidder (Ll) from Madhya Pradesh Power Transmission Company for the construction of 132 KV and 220 KV transmission lines and associated feeder bays on a total turnkey basis in Eastern MP. The project is worth Rs. 174 crore.

Rushil Decor: The company has received board approval to incorporate a subsidiary company by entering into a joint venture agreement with Modala Panels and Boards through its proprietor, M. N. Rao.

Zuari Industries: The company executed a sale deed on February 22, 2024, with Zuari Infinity, an unrelated party, for the sale of certain land parcels in Goa. The company has received Rs 83.45 crore towards the sale of said land parcels.

Atmastco: The project management solutions company is set to debut on the NSE Emerge on February 23. The issue price is Rs. 77 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Interiors & More: The artificial flowers, plants, and decor items maker is going to list equity shares on the NSE Emerge on February 23. The final issue price has been fixed at Rs. 227 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Esconet Technologies: The supercomputing solutions company will list its equity shares on the NSE Emerge on February 23. The final issue price has been fixed at Rs. 84 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Kalahridhaan Trendz: The textile company will list its equity shares on the NSE Emerge on February 23. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Thaai Casting Ltd: The automotive ancillary company is set to debut on the NSE Emerge on February 23. The final issue price has been fixed at Rs. 77 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Sarveshwar Foods: The company said the board of directors approved raising funds of Rs 98.94 crore via preferential issue and Rs 100 crore through QIP or any other issue.