Stocks to Watch: Wipro, HPCL, Reliance, Adani Ports, Shriram Transport, Zee

Wipro: Wipro has been awarded a five-year contract by Mazda Motor Logistics Europe worth multi-million dollars. It has received an order to provide next-generation managed services for its entire application landscape, the company announced in an exchange filing. Mazda said this partnership with Wipro will automate IT processes, digitise processes, and enable agile DevOps working practices.

HPCL: Hindustan Petroleum Corporation Limited (HPCL) has approved raising up to ₹10,000 Cr via NCDs on a private placement basis. HPCL stated that it has issued unsecured, redeemable, non-convertible, non-cumulative, taxable debentures of up to Rs. 10,000 Crores on a private placement basis in the domestic market and/or in the international market from the date of such approval for funding of refinancing of existing borrowings and/or funding of capital expenditure of the issuer, including recoupment of expenditure.

Adani Ports. Adani group on Thursday inaugurated a warehouse facility at its Gangavaram Port in Andhra Pradesh. Spread over 11,000 square metres, the new warehouse has a storage capacity of 50,000 MTs. The warehouse will help the agri sector by providing ease of access for sensitive cargo such as fertilizer and agri products, including rice, maize and sugar, the company said in a release.

Reliance Industries. Reliance Consumer Products Ltd on Thursday announced the launch of a homegrown consumer packaged goods brand, Independence, in Gujarat. Independence sells a wide range of products under several categories including staples, processed foods and other daily essentials such as sugar, pulses, biscuits, edible oil, flour etc. Products under the brand have been made available to consumers and kirana partners in the state.

Shriram Transport: The largest NBFC in the nation has stated today that its board would consider an interim dividend and fundraising on December 24. Shriram Transport Finance Corporation has announced a 200.00% equity dividend, or ₹20 per share at a face value of ₹10, for the fiscal year that ended in March 2022. The dividend yield at the current share price of ₹1,389.50 is 1.43%.

Zee Entertainment. IDBI Bank on Thursday filed an insolvency application against Zee Entertainment Enterprises for initiating a corporate insolvency resolution process (CIRP). The lender has filed the petition under Section 7 that allows a financial creditor to file an application for initiating CIRP against a corporate debtor before the adjudicating authority, an exchange filing by Zee said.IDBI Bank is one of the financial creditors of the company and said that it had filed an insolvency application claiming a default of ₹149 crore.

Kalpataru Power: Kalpataru Power Transmission said in an exchange filing that it received orders worth ₹1,397 crore for its T&D business in India and overseas. “With these new orders, our YTD FY23 order intake has reached ₹ 15,784 Crores at a consolidated level. Additionally, we have a strong L1 position. This provides us with confidence to achieve our targeted growth going forward,” Manish Mohnot, Managing Director & CEO, Kalpataru Power said.

SJVN Ltd. Indian Renewable Energy Development Agency (Ireda) on Thursday said it has inked a loan agreement with SJVN Green Energy for financing ₹4,444.71 crore for a 1,000 MW solar power project. “Indian Renewable Energy Development Agency Ltd signed a historic loan agreement for ₹4,444.71 crore with SJVN Green Energy (SGEL), a subsidiary of SJVN Ltd, today for a 1,000 MW solar power project at Bikaner, Rajasthan,” the Ministry of New and Renewable Energy said.

Hindustan Foods. Hindustan Foods Ltd. (HFL) on Thursday said it has acquired Reckitt Benckiser Health India Pvt. Ltd’s manufacturing facility in Baddi, Himachal Pradesh, for a cash consideration of ₹156 crore, aimed at expanding its healthcare and wellness business. The transaction is subject to various conditions precedent as specified under the business transfer agreement. The transfer of the facility is expected to be completed by the second half of 2023.

GMM Pfaudler: Pfaudler Inc, a promoter of listed company GMM Pfaudler Ltd, will sell a majority of its stake in the company in a block deal that will fetch the shareholder Rs2,278 crore, as per deal terms seen by Mint. Pfaudler Inc is selling 1.34 crore shares of the company, representing a 29.88% stake in the company at a floor price of Rs1,700 apiece, which is an 11.67% discount to the company’s closing price on Thursday.