Stock that will see action today: 4 April 2024

The board of directors of Vodafone Idea will meet on April 6 to consider the issuance of equity or convertible securities on a preferential basis to one or more promoter group entities for ₹2,075 crore.

Vedanta Aluminium, subsidiaryof Vedanta Ltd, has expanded its alumina refining capacity to 3.5 million metric tonnes per year (MTPA). It has commissioned a 1.5 MTPA capacity alumina refinery in Lanjigarh, Odisha, which is part of the company’s new 3 MTPA facility. This will take the overall nameplate capacity at the Lanjigarh refinery from an existing 2 MTPA to 5 MTPA.

HCL Infosystems has received a final arbitration award in the arbitration filed by the company against the Government of the National Capital Territory of Delhi (GNCTD) for the recovery of dues against setting up and maintaining a wireless secured communications network (TETRA). The monetary relief has been awarded in favour of the company as per the arbitral award of ₹4.5 crore, along with interest at 8 percent per annum from the date of the award until payment. The counterclaims worth ₹163 crore filed by the GNCTD against the company have also been disallowed.

GE Power India has received two orders for D&E and supply of wet limestone-based FGDs for the Nigrie Super Thermal Power Plant at Nigrie and Bina Thermal Power Plant at Bina from Jaiprakash Power Ventures, a BSE filing stated. The orders are worth Rs 490.5 crore plus 18 per cent GST for the Nigrie plant and Rs 284.4 crore for the Bina plant. The execution period is 33 months for the Nigrie plant and 30 months for the Bina plant.

Union Bank of India on Wednesday said it has raised $500 million (about Rs 4,200 crore) from foreign markets to fund overseas business growth. The fund was arranged by Dubai International Financial Centre (DIFC), Dubai Branch, Union Bank of India said in a regulatory filing.

Poonawalla Fincorp has reported the highest ever disbursements during Q4-FY24 at ₹9,680 crore, growing 52 per cent YoY and 11 per cent QoQ. Disbursements in Q4 FY23 stood at ₹6,371 crore (₹8,731 crore).

L&T Finance said its retail loan book at the end of Q4FY24 is estimated at around ₹80,010 crore, growing 31 per cent over a year-ago period, while retail disbursements during the quarter at ₹15,030 crore increased by 33 per cent y-o-y. Retailisation of the portfolio is estimated at around 94 per cent at the end of Q4-FY24, against 75 per cent in the same period last fiscal.

KEC International has received new orders of ₹816 crore across its various businesses, including orders for supply of towers in the United States of America, setting up steel plants in Northern India, and plants for carbon derivatives in Eastern India.

Federal Bank said gross advances grew by 20 per cent to ₹2,12,758 crore in the March FY24 quarter, with retail credit book growing by 25 per cent and wholesale credit book rising by 15 per cent. The retail-to wholesale ratio is 56:44, respectively. Total deposits stood at ₹2,52,583 crore, growing 18.4 per cent over the same period last fiscal. The CASA ratio declined 3.3 per cent y-o-y and 1.2 per cent q-o-q to 29.4 per cent in the March FY24 quarter.

CLSA Global Markets Pte Ltd has bought 2.72 crore shares (or 2.88 per cent of paid-up equity) of Edelweiss Financial Services through open market transactions. These shares were purchased at an average price of ₹69.16 crore, worth ₹188.18 crore. However, foreign portfolio investor The Pabrai Investment Fund IV LP was the seller .

GMR Power and Urban Infra, along with Shree Naman Developers, has incorporated a joint venture company, namely Portus Ventures, to carry out the design, operation, and maintenance of the superstructures on the land parcels at the Mumbai International Airport (MIAL) site.

Aurionpro Solutions has opened its qualified institution placement issue on April 3 at a floor price of ₹2,103.68 a share.

Brigade Enterprises has signed a joint development agreement with United Oxygen Company to develop a ‘Grade A’ office space in East Bengaluru. The project will have a leasable area of 3 lakh square feet and a gross development value of around ₹340 crore.

Gufic Biosciences has incorporated a wholly owned subsidiary, Veira Life FZE, in Dubai, UAE. The subsidiary will conduct the business of marketing, distribution, and sale of pharmaceutical products.

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