Market Commentary - Stock Alert
Adani Ports, IDFC First Bank, IRCON International, BEL in focus As on : 07-Dec-23  08:53

Adani Ports and Special Economic Zone: The meeting of the board of directors of the company will be held on 12 December 2023 to consider the proposal for issuance of Non-Convertible Debentures and issuance/ renewal of Non-cumulative redeemable preference shares, on private placement basis/ preferential basis, in one or more tranches.

Dr. Reddy?s Laboratories: Dr. Reddy's Laboratories SA, wholly-owned subsidiary of the company and Coya Therapeutics, Inc., announced that they have entered into a development and license agreement for the development and commercialization of COYA 302, an investigational combination therapy for the treatment of Amyotrophic Lateral Sclerosis (ALS).

IDFC First Bank: Cloverdell Investment, an affiliate of global private equity firm Warburg Pincus, is reportedly likely to sell a 1.3% stake in IDFC First Bank through block deal. The deal size may be around $100 million, with a floor price of Rs 85.7 per share, as per reports.

IRCON International: The Government of India will sell 8% stake, or 7.52 crore equity shares, in the company through an offer-for-sale (OFS) on December 7-8, with a floor price of Rs 154 per share.

Bharat Electronics (BEL): Bharat Electronics received an order of Rs 580 crore from Indian Army for AMC of Radars. The company has also received additional orders worth Rs 3,335 crore for AMC for AEW&C system (Airborne Early Warning & control), Uncooled TI sights, Software Defined Radios, SWIR pay load, AMC for IACCS, Passive Night Vision Binoculars etc.

One97 Communications (OCL): The company announced that it will further expand its business to offer higher ticket personal and merchant loans, which would be targeted at lower risk and high credit worthy customers, in partnership with large banks and NBFCs.

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