STOCKS IN FOCUS

STOCKS IN NEWS

• REC & PFC: The President has approved the merger of REC Ltd with Power Finance Corporation (PFC), nearly seven years after PFC acquired the government’s controlling stake in REC. Following the merger, all assets and liabilities of REC will be transferred to PFC, and REC will cease to exist as a separate entity.
• Eternal: The company has received a GST demand notice of ₹9.63 crore from Andhra Pradesh tax authorities for alleged short payment of output tax during the period April 2023 to March 2024.
• Lenskart: ADIA-backed Platinum Jasmine A 2018 Trust is set to pare its stake in Lenskart through a block deal worth approximately ₹1,944 crore.
• Rajesh Exports: The company has stated that it will fully cooperate with SEBI’s forensic audit and will not challenge the regulator’s interim order. Rajesh Exports is under investigation for alleged revenue inflation of up to ₹15.15 trillion between FY21 and FY25.
• Oil & Gas Stocks: Shares of oil marketing companies including IOCL, BPCL, and HPCL, along with upstream players such as ONGC and Oil India, are likely to remain in focus after crude oil prices surged over 2% following reports that Iran’s Revolutionary Guard indicated the Strait of Hormuz could be closed to shipping traffic.
• Textile Stocks: Textile companies may witness increased attention as the government selected over 95 firms under the third phase of the PLI scheme, involving total investment commitments of ₹12,822.67 crore.
• Bharti Airtel: The telecom operator announced deployment of more than 2,900 new 5G sites across 77 districts in Punjab, Haryana, Himachal Pradesh, and Jammu & Kashmir over the past year, enhancing connectivity for over 28.6 million customers.
• Zee Entertainment (ZEEL): The company plans to raise ₹2,300 crore to support strategic and business growth initiatives. The mode of fundraising will be finalized after further board deliberations.
• Vascon Engineers: The company has received a Letter of Intent worth ₹347.43 crore from the Central Public Works Department (CPWD), Guwahati, for the redevelopment of RBI residential quarters in Assam.
• Nuvama Wealth Management: The company has secured final approval from SEBI to commence mutual fund operations through its asset management business.
• Power Grid Corporation of India: The board has approved the modernization and upgradation of SCADA and associated systems under NTAMC/RTAMC at an estimated cost of ₹485.04 crore.
• Punjab National Bank (PNB): PNB has revised FCNR(B) deposit rates up to 6.10% per annum and expects to mobilize nearly USD 2.5 billion through the scheme.

BULK DEALS

• Meesho: Fidelity Investments entities FID FDI 2117 LLC and FID FDI 312 LLC collectively sold 5.97 crore shares, representing a 1.31% stake, through transactions worth approximately ₹988 crore.
• Sapphire Foods India: T Rowe Price International Discovery Fund acquired an additional 24.62 lakh shares (0.76% stake) worth ₹44.3 crore, while the Government of Singapore sold 21.8 lakh shares (0.67% stake) worth ₹39.35 crore.
• CMR Green Technologies: Goldman Sachs India Equity Portfolio purchased 19.41 lakh shares, representing a 0.88% stake, in a transaction valued at ₹49.81 crore.

CORPORATE ACTIONS:

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