Adani Green Energy, PNB, ICICI Bank, REC, DCB Bank, and Other Stocks To Monitor
Hot stocks that will likely be on market watchers’ radar screens on Thursday, December 21 include Cochin Shipyard, Mazagon Dock Shipbuilders, Adani Green Energy, PNB, and ICICI Bank.
REC Power Development & Consultancy Limited, a totally owned company of REC Limited, has created REC Kankani Power Transmission Limited as a completely owned subsidiary. According to a stock market filing, the firm was founded to design the Transmission system for “Rajasthan Intra-state Transmission Package 3 (P3)”.
Bank DCB
Easy Home Finance Limited (EASY), the leading mortgage tech company in India, and DCB Bank have teamed to develop a lending business relationship in order to provide affordable home loans across the country. With this agreement, the technology power of EASY and the affordable housing sector experience of DCB Bank will be coupled to speed up the issue of inexpensive house loans and fulfill the dream of many Indians to become homeowners.
Sonata Program
AMMEGA Group, a global leader in power transmission and conveyor belts, has Customer Solution Centers (CSCs) and manufacturing locations around the globe. Sonata Software has said that a contract has been signed with them. Manufacturing Units (MUs) and CSCs will be using Dynamics 365 Finance and Supply Chain Management in the future years.
Cochin Shipbuilding
An agreement for Rs. 488.25 crores was signed between the firm and the MoD on December 19, 2023. The work package includes repairs and maintenance for the systems and equipment of the naval vessel. According to the MoD’s Approval of Necessity (AoN), construction on the project is expected to be completed by Q1 of FY25, having begun in Q2 of FY24.
Mazagon Dock Ship Construction
The Ministry of Defence’s Acquisition Wing and Mazagon Dock Shipbuilders Limited (MDL) signed a Rs. 1600 Cr agreement on December 20, 2023, for the building and delivery of six (06) Next Generation Offshore Patrol Vessels (NGOPVs) for the Indian Coast Guard (ICG).
By virtue of its rating action on December 20, 2023, Punjab National Bank Brickwork Ratings raised the ratings for Basel Ill Additional Tier 1 Bonds from BWRAA/Stable to BWRAA+/Stable. Brickwork Ratings (BWR) has upgraded the ratings of Punjab National Bank (PNB) for its outstanding Basel III-Additional Tier I Bonds of Rs. 495Crs. to BWRAA+/Stable from BWRAA/Stable, and for PNB’s unutilized Basel II-Additional Tier I Bonds of Rs. 2,505Crs. to BWRAA+/Stable, per a stock market filing. BWR also withdraws their ratings for PNB’s Base II Tier II Bonds worth Rs. 500 Crs. upon full redemption, downgrading them to BWRAA+/Stable from BWRAA/Stable.
Adani Environmental
Adani Saur Urja (KA) Limited, a wholly-owned subsidiary of Adani Green Energy, incorporated three wholly-owned subsidiaries on December 20, 2023, with an authorized share capital of Rs 1 lakh each: Adani Renewable Energy Fifty Two Limited (ARE52L), Adani Renewable Energy Fifty Three Limited (ARE53L), and Adani Renewable Energy Fifty Four Limited (ARE54L).
ICICI Bank The board of directors has reappointed Mr. Sandeep Batra (DIN: 03620913) as the bank’s executive director, commencing December 23, 2023, until December 22, 2025. The five-year timeframe that the shareholders originally agreed upon is still covered by the two-year extension.
High-Tech Cement
The company has engaged in a share subscription and shareholders agreement to purchase up to Rs 20.25 crores, or 26% of Clean Max Terra Private Limited’s equity shares. According to a regulatory filing, the transaction is made to fulfill the company’s demands for green energy, optimize energy expenses, and adhere to legal restrictions for captive power usage under electricity legislation.
Bank of Punjab and Sind
The Indian government said on December 19, 2023, that Ms. Rashmi Khetrapal would step down from her position as an unofficial director on the board of directors of Punjab & Sind Bank. This modification will go into effect right now.
