Stocks to Watch: Radiant Cash Mgt, RIL, Vedanta, L&T, HDFC Ltd, RailTel

Stocks to Watch: Radiant Cash Mgt, RIL, Vedanta, L&T, HDFC Ltd, RailTel

Market


Radiant Cash Management: Radiant Cash Management IPO listing date has been fixed for today. As per the information available on the BSE website, shares of Radiant Cash Management Services Limited shall be listed and admitted to dealings on the exchange in the list of ‘B’ group of securities. Shares of Radiant Cash Management Services Ltd will list on BSE and NSE in a special pre-open session and the retail cash management company has informed Indian exchanges that in respect of shares in demat form, necessary corporate action has been executed to have the lock-in period marked in the depository’s records.

Reliance Industries: Reliance Retail Ventures Ltd’s subsidiary on Tuesday said that it will acquire a 50% stake in Gujarat-headquartered Sosyo Hajoori Beverages Private Limited. The FMCG arm, Reliance Consumer Products Limited, is the wholly owned subsidiary of Reliance Retail Ventures Limited has acquired a stake in the Sosyo Hajoori Beverages Pvt Ltd which operated a beverage business under the brand ‘Sosyo’. The existing promoters, Hajoori family,  will continue to own the remaining stake in Sosyo Hajoori Beverages Pvt Ltd (SHBPL).

Vedanta: Vedanta on Tuesday said that its total aluminium production dropped by 2 per cent to 5,66,000 tonnes in the third quarter of the current fiscal. The company’s total aluminium output stood at 5,79,000 tonnes in the year-ago period. Alumina production at Lanjigarh refinery decreased by 6 per cent YoY and 2 per cent QoQ to 443kt due to maintenance activities in calciners,” Vedanta said in a filing to BSE. The company said at Zinc India, the mined metal production increased marginally by 1 per cent to 2,54,000 tonnes in the third quarter.

L&T: Engineering and construction behemoth Larsen & Toubro (L&T) on Tuesday said its water and effluent treatment business has bagged repeat orders from the Government of Madhya Pradesh. The order is to execute two lift irrigation projects to irrigate 2,05,000 Ha of culturable command area covering more than five hundred villages of Dewas and Dhar districts in the state of Madhya Pradesh on a turnkey basis, the company said in a statement.

HDFC Ltd: Mortgage lender HDFC Ltd on Tuesday said it has assigned (sold) 19 per cent higher loans to the tune of 8,892 crore in the third quarter ended December 2022. The corporation had assigned loans amounting to 7,468 crore in the corresponding quarter of the previous year, HDFC Ltd said in a regulatory filing. The loans sold in the preceding 12 months amounted to 35,937 crore against 27,591 crore in the year-ago period.

Avenue Supermarts: Radhakishan Damani-owned Avenue Supermarts, which runs the DMart chain, reported revenue from operations rose by 24.7 per cent to 11,304.58 for the October-December quarter. The revenue from operations stood at 9,065.02 in the corresponding quarter last fiscal. Sequentially, it rose 6.3 per cent from 10,385 crore in the September quarter. The revenue in the quarter ended September 2022 stood at 10,385 crore, which is an increase of 36% compared to 7,650 crore in the September 2021 quarter.

LTIMindtree: LTIMindtree on Tuesday announced that Venugopal Lambu, whole-time director and Markets President has resigned. This comes at a time, in less than two months since the merger of the two entities. His resignation has been accepted informed LTIMindtree in the filing. His last working day will be January 10, 2023. According to Venugopal Lambu’s LinkedIn profile, he joined Mindtree in January 2020. He led the global market transformation and capabilities of Mindtree.

RailTel Corporation of India: RailTel, a PSU under the Ministry of Railways, has tied up with a technology firm in a bid to monetise its Wi-Fi project at more than 6,100 railway stations across the country, the company said on Tuesday. The rail PSU has signed a five-year contract with a consortium led by 3i Infotech Ltd, a global information technology company based in Mumbai, RailTel said in a statement. The other members of the consortium are Forensics Intelligence Surveillance and Security Technologies Private Limited (FISST) and Yellow Inc.

IIFL Finance: Non-Banking Financial Company IIFL Finance on Tuesday said it will raise up to 1,000 crore through a public issue of secured non-convertible debentures (NCDs). The funds raised through the issue will be used for business growth, IIFL Finance said in a statement, adding that the public issue opens on January 6 and closes on January 18, 2023, with an option of early closure. Fairfax-backed IIFL Finance will issue secured redeemable NCDs, aggregating to 100 crore, with a green-shoe option to retain oversubscription up to 900 crore (aggregating to a total of 1,000 crore).

Multi Commodity Exchange: Through an open market transaction on Tuesday, Norges Bank/Noregs Bank, the central bank of Norway, acquired 3.38 lakh shares of the Multi Commodity Exchange of India (MCX) for more than 50 crore. Norges Bank acquired 3,38,000 shares, or 0.7% stake in MCX, according to bulk deal data made accessible by the National Stock Exchange (NSE). The average price paid for the shares was 1,482.59, making the total transaction amount of 50.11 crore.


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