Stocks to Watch, June 14: Voda Idea, Dr Reddy's, Suzlon, Signature Global

Stocks to Watch on Friday, June 14: Vodafone Idea (Vi) has decided to offer a Rs 2,458 crore stake to long-term vendors Nokia and Ericsson in a bid to partially clear outstanding dues

Stocks to Watch, Friday, June 14, 2024: Despite weak global cues, GIFT Nifty is hovering in the positive zone in early deals on Friday. At 7:40 AM, the index is at 23,421 levels, up 22 points.

Elsewhere in Asia, all the leading benchmarks were in the red led by ASX 20 (down 0.3 per cent), Hang Seng (0.14 per cent), and Shanghai Composite (0.1 per cent).

Overnight, Wall Street indices ended mixed with Dow Jones down 0.17 per cent, Nasdaq Composite up 0.34 per cent, and S&P500 up 0.23 per cent.

Against this, domestic wholesale inflation data for May, coupled with FII activity, and global trends will guide the markets today.

Here is a list of stocks to watch on Friday, June 14:

Vodafone Idea: Vodafone Idea (Vi) has decided to offer a Rs 2,458 crore stake to long-term vendors Nokia and Ericsson in a bid to partially clear outstanding dues.

In a regulatory filing, the company said its board has approved the preferential issue of 1,027 million equity shares with a face value of Rs 10 each to Nokia and 633.7 million shares to Ericsson.

Dr Reddy's Labs: Life Insurance Corporation (LIC) of India has increased its stake in the diagnostic firm from 4.95 per cent to 5.01 per cent, LIC said in an exchange filing.

More than 1 lakh shares were acquired from the open market, at an average price of Rs 6,059.82 each, it added.

Puravankara: The Board has given its in‐principle approval to proceed to raise funds through QIP mode up  to an amount not exceeding Rs 1,000 crore in one or more tranches.

Suzlon Energy: The renewable energy firm has appointed law firm Khaitan & Co. to review its corporate governance practices.  

Havells India: Havells India Limited is planning to expand its existing manufacturing capacities of Air Conditioners at Ghiloth and Sricity locations to 15 lakh units per annum at each location, from the existing 9 lakh and 11.2 lakh units, respectively, in order to cater to the increased demand.

The total proposed investment will be in the range of Rs 50 – 60 crore, and will be funded through internal accruals. The expected date of completion is Q4FY25.

Signature Global: SignatureGlobal India has announced that Sternal Buildcon, its wholly-owned subsidiary, has executed a sale deed to purchase a land parcel of approximately 3.80625 acres situated at Sector 37D, on Dwarka Expressway, Village Harsaru Gurugram.

The said land has an overall potential developable area of approximately 6 lacs square feet.

Nitco: The Board of Directors, at its meeting on Thursday, June 13, has approved the monetisation of the company's immovable property situated at Kanjurmarg, Mumbai, and entered into a conveyance deed or agreement with Runwal Construction Private Limited.

IRB InvIT Fund: IRB InvIT has received sanction for Rs 2,676 crore primarily for full repayment of existing external Debt of the SPV (i.e., VK1 Expressway Limited), full repayment of existing external debt of the Trust, and repayment of sub-debt.