Market Commentary - Stock Alert
ONGC, Whirlpool India, Kotak Mahindra Bank will be watched As on : 20-Feb-24  08:28

ONGC: The shareholders of Cyprus-based step-down unit IEL has approved the merger of five arms with itself. The unit will have 3 step-down units in Cyprus post-merger

Whirlpool India: Promoter Whirlpool Mauritius will divest 24% stake at a floor price of Rs 1,230 per share, which indicates a discount of 7.6% to current market price.

Kotak Mahindra Bank: The company appointed Devang Gheewalla as the president and group chief financial officer and a key managerial personnel of the bank and appointed Milind Nagnur as the chief operating officer of the bank.

Torrent Power: The company will develop four projects of pumped storage hydro, green hydrogen, solar energy generation with investment of Rs 25,000 crore in Uttar Pradesh.

Godrej Consumer Products: The company and its arm will divest entire stake in its in Mauritius-based unit Godrej East Africa Holdings to HKG Africa Weave for consideration of Rs 30 crore.

CIE Automotive India: On a consolidated basis, net profit was reported at Rs 168.94 crore in Q4 December 2023 as against net loss of Rs 657.81 crore in Q4 December 2022. Net sales declined 0.29% YoY to Rs 2240.40 crore in Q4 December 2023. The board approved a final dividend of Rs 5 per share.

Wardwizard Innovations & Mobility: Joy e-bike achieved a milestone of crossing 100,000 sales in India. The company rolled out its 100,000th unit, Mihos from its manufacturing plant in Vadodara to mark the achievement.

Balrampur Chini Mills: The company is set to venture into Polylactic Acid (PLA) manufacturing with new fully integrated facility.

Piramal Enterprise: The company will consider fund raising on 22 February 2024.

Tasty Bite Eatables: Milin Bande has resigned from the position of chief financial officer.

Astra Microwave Products: The company incorporated a wholly owned subsidiar Astra Space Technologies for Rs 10 lakh.

Orient Green Power: Edelweiss (plaintiff) has withdrawn from the suit filed against promoter SVL and the company before the High Court of Bombay.

LTIMindtree: The company has unveiled Navisource.Al, a revolutionizing procurement Co-Pilot on canvas.AI platform. The platform boosts productivity by 20% and reduces overall procurement cost by 10-15%

Deepak Fertilisers: The company has entered into a 15-year LNG contract with Norwegian Giant ? Equinor.

Snowman Logistics: Gateway Distriparks (promoter) purchased 8,00,000 equity shares comprises of 0.48% of the company from the open market.

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