Stocks in news: Bajaj Finance, Valiant Labs, Adani Wilmar, Vodafone Idea, Tata Steel, Wipro

A host of stocks would be in focus on Friday morning amid a flurry of corporate announcements. From Bajaj Finance's Rs 10,000 crore QIP and preferential issue to Mankind Pharma's update on Sikkim flash flood and from Wipro incorporating a subsidiary to Vodafone's update on DoT fee demand, stock-specific actions are likely in a dozen stocks today.  

IndusInd Bank Ltd

The private lender said a special resolution to get Sanjay Asher reappointed as a ‘Non-Executive Independent Director’ for a second consecutive term of 4 years could not get the requisite majority. Accordingly, Sanjay Asher would vacate the office of independent director on October 9.

Vodafone Idea Ltd

The telecom operator said Department of Telecommunication (DoT) has disposed-off its representation and objections in respect of license fee demand of Rs 1,749 crore and Rs 1,524 crore, respectively, for FY16 and FY17. Vodafone Idea said it is studying the communication to decide the next course of action.

Bajaj Finance Ltd

Bajaj Finance said its board has okayed raising of up to Rs 8,800 crore capital through a qualified institutional placement. Also, the NBFC board approved preferential issue of up to 15,50,000 warrants convertible into equivalent number of equity shares to Bajaj Finserv Limited, the promoter, for Rs 1,200 crore.

Ujjivan Small Finance Bank Ltd

Ujjivan Small Finance Bank (Ujjivan SFB) said its total deposits grew 43 per cent YoY to Rs 29,134 crore for the September quarter from Rs 20,396 crore in the same quarter last year. The SFB said its advances for the quarter jumped 27 per cent to Rs 26,600 crore from Rs 20,938 crore in the year-ago quarter.

PB Fintech Ltd
Shares of PB Fintech will be in focus on Friday as Reuters quoting a media report suggested that SoftBank Group was looking to sell PB Fintech shares worth up to $105 million via block deals today.

Valiant Laboratories Ltd
Valiant Laboratories would make its market debut on Friday. The Valiant Laboratories IPO ran from September 27 to October 3 and was sold in the Rs 133-140 price band. The issue had received a strong 29.76 times subscription.

Adani Wilmar Ltd

Adani Wilmar has reported a volume growth of 11 per cent (YoY) on standalone business for the September quarter, thanks to huge opportunities in packaged staple foods and strong execution.

Mankind Pharma Ltd

Mankind Pharma said its operations at Namchi Zilla manufacturing facility in South Sikkim was disrupted due to disturbance in power/utility supply because of flash floods in river Teesta, since late night of October 4. Mankind Pharma, however, epects no major disruption expected in supply chain as the manufacturing of the products got diverted to other plants. The business operations of the company, Mankind Pharnsa said, continued as usual as other plants were fully operational.

Bharat Heavy Electricals Ltd

Bharat Heavy Electricals (BHEL) said it has received an award for its poceeding against Jaiprakash Power Ventures (JPVL) relating to ESP contract for 2 x 660 MW Jaypee Nigrie Super Thermal Power Project. A substantial claims of BHEL have been awarded by the Arbitral Tribunal, the company said. Besides, the company has received an award against JPVL, relating to BTG contract for 2 x 250 MW Bina Thermal Power Plant.

Wipro Ltd

IT major Wipro said Wipro Czech Republic IT Services has been incorporated with effect from October 4 as a stepdown subsidiary of Wipro. The company received intimation to this effect on October 5.

Karur Vyvsa Bank Ltd

The bank informed stock exchanges that credit rating agency CRISIL has reaffirmed its CRISIL A1+ rating on the Rs 3,000 crore Certificate of Deposits programme. The credit rating was received from CRISIL on Thursday, Karur Vyvsa Bank said in a BSE filing.

Tata Steel Ltd, The Tinplate Company

Tinplate Company of India Limited, a subsidiary of Tata Steel, has received an order from the office of the Deputy Commissioner of Commercial Taxes, Jamshedpur Circle, Jamshedpur, imposing a penalty of approximately Rs 39.86 crore on TCIL in connection with an earlier demand order.

Sun Pharmaceuticals Ltd

SUn Pharma has entered into an agreement to acquire shares of Ezerx Health Tech Private, which it says is engaged in production, marketing and distribution of non-invasive diagnostic and ancillary medical device. Sun Pharma would acquire 37.76 per cent equity shareholding of EzeRx.

KPI Green Energy Ltd

KPI Green Energy  said it has bagged orders aggregating to 12.10 MW for executing solar power projects. Out of these orders, 3.10 MW capacity would undertaken by KPI Green Energy and 9 MW capacity by Sun Drops Energia Private Limited, a wholly owned subsidiary of the company. The order wins came under the captive power producer (CPP) segment of the company.

Also read: Union Bank, PNB, Indian Overseas Bank: Trading strategies for these PSU bank stocks