Stocks in news: Adani Power, Infosys, RVNL, Adani Ports, Mphasis, Delhivery, Mankind and Delta Corp

Indian benchmark indices settled with strong gains during the trading session on Tuesday supported by the positive global and domestic cues. BSE Sensex rallied 391.26 points, or 0.49 per cent to end at 80,351.64. The Nifty50 index jumped 112.65 points, or 0.46 per cent, to settle at 24,433.20 for the day. Here are the stocks that may remain under spotlight before the opening bell on Wednesday, July 10, 2024:

 

Corporate Actions: Shares of companies including Crompton Greaves Consumer Electricals, Mphasis, Wheels India will trade ex-split on the trading session on Wednesday. Shares of PG Electroplast and Bridge Securities will trade ex-split in 1:10 ratio.

 

Mankind Pharma: Capital Group affiliate Hema CIPEF is likely to sell a 0.9 per cent stake in drug firm Mankind Pharma through block deals. The total issue size of the block is valued at Rs 762.6 crore, with the issue price set at Rs 2,061 per share, suggested media reports.

 

Infosys: The second largest IT company announced a five-year collaboration with Sector Alarm, one of Europe’s leading providers in security, who are partially owned by the global investment firm KKR, to transform their core enterprise business systems on the cloud.

 

Adani Ports and Special Economic Zone: The Adani Group company has been awarded a letter of intent for a 30-year concession period for the development, operation, and maintenance of Berth number 13 at Deendayal Port.

 

Phoenix Mills: The real estate company’s subsidiary subscribed to 4,68,282 equity shares and 42,145 compulsory convertible debentures of O2 Renewable Energy XIII, investing Rs 4.6 crore for the purchase of renewable energy. The subsidiary will hold a 30.95 per cent stake in O2 Renewable XIII for the subscription.

 

RVNL: The railway owned company received a letter of acceptance (LoA) from Maharashtra Metro Rail Corporation for the construction of elevated metro stations.

 

Adani Power: Mahan Energen (MEL), a wholly owned subsidiary of Adani Group owned firm, had entered into a 20-year long-term Power Purchase Agreement (PPA) for 500 MW with Reliance Industries (RIL) under the captive user policy as defined under the Electricity Rules, 2005.

 

Delhivery: The Canada Pension Plan Investment Board (CPPIB) is likely to sell its entire 3.18 per cent stake in the logistics firm for Rs 886 crore in the price range of Rs 378-389 apiece through block deals on Wednesday, suggested media reports.
 

 

Delta Corp: The gaming and hospitality company reported a 67.6 per cent decline in consolidated net profit to Rs 21.68 crore for June 2024 quarter. Revenue from operations fell 30 per cent YoY to Rs 181 crore in the June quarter from Rs 259 crore in the previous fiscal.

 

Aarti Drugs: The pharma company informed that the N-198 unit at Tarapur, in which a fire had recently occurred, is operational again. There has been no material impact on the financials and operations of the business.

 

JB Chemicals & Pharmaceuticals: The drugmaker player appointed Arun Duggal, the Non-Executive Independent Director, as the Non-Executive Chairman of the company.

 

BLS International: The visa-services company completed the acquisition of a 100 per cent stake in iData Danışmanlık Ve Hizmet Dış Ticaret Anonim Şirketi and its wholly owned subsidiaries. This acquisition would strengthen the company's position in visa and consular services.

 

IRM Energy: The recently listed city gas distributor's CEO, Karan Kaushal, has resigned from his designation to pursue more challenging and creative opportunities.

 

RK Swamy: The recently listed media services company reported a 13.3 per cent YoY rise in revenue from operations to Rs 331.5 crore in Q1FY25, while PAT was up by 27.1 per cent YoY to Rs 39.7 crore during the quarter.

 

Diamond Power Infrastructure: The cable and conductor manufacturer has received a letter of intent from Adani Energy Solutions worth Rs. 899.75 crores for the supply of AL 59 Conductors - New Generation Aluminum Alloy Conductors.