These stocks should be on your watchlist today!
IRB Infrastructure: Udaipur BOT Project implemented by Udaipur Tollway Ltd (now a part of IRB Infrastructure Trust Private InvIT) has been issued a completion certificate by the competent authority. Consequently, toll rates for the special purpose vehicle (SPV) would be increased by 55 per cent while the SPV will collect toll at revised toll rates on this project.
EPL: The company announced that it has been selected as a partner by Unilever, in its journey towards achieving 100 per cent sustainability in the oral care segment. Accordingly, EPL will supply its APR-approved, 100 per cent recyclable and fully-sustainable Platina tubes for the toothpaste category of Unilever.
TCS: Tata Consultancy Services (TCS) has been recognised as a leader in software product engineering services by Everest Group.
Magma Fincorp: Adar Poonawalla takes charge as Chairman of Magma Fincorp. Abhay Bhutada to take over as MD while the top ICICI Bank honcho Vijay Deshwal is set to join as CEO of the company w.e.f. July.
Asian Granito: With a view to focus on the core business of ceramic & other tiles as well as products related to the construction industry, the board has considered & approved disinvestment from Astron Paper & Board Mill, an associate company listed on BSE/NSE in which, the company is holding 87,75,000 equity shares (18.87 per cent) in the capacity as one of the promoters of Astron Paper & Board Mill Limited. The proceeds from the sale of the said shares will be utilised to meet long-term working debt reduction.
NLC India: The company informed that 6,000 numbers of commercial paper of a face value of Rs 5,00,000 each, aggregating to Rs 300 crore have been issued & allotted on May 31, 2021.
Aarvee Denims & Exports: The company is in the process of selling nine windmills with an aggregate capacity of 13.5 MW out of the total fourteen windmills installed by the company at various locations in Gujarat. The sale will be affected as and when the company obtains the requisite consents/permissions from the related authorities. The said windmills are not encumbered or charged to any banks. The company will be utilising the net sale proceeds mainly for the purpose of reduction of the debt owed by the company to the banks.
IRCTC: The company informed that due to travel restrictions in the state of Maharashtra and Gujarat, owing to the COVID-19 pandemic, suspension of operation of IRCTC’s Ahmedabad Mumbai Tejas Express is further extended till June 30, 2021.
Auto stocks: Keeping the sales data of May into consideration, it can be said that the auto stocks are likely to remain in focus today.