Stocks to Watch: Kaynes Technologies, Nykaa, NDTV, JSPL, Reliance | Rare Techy

Keynes Technologies: End-to-end and IoT solutions-enabled Integrated Electronics Manufacturing Player, Kaynes Technologies will make its market debut on Tuesday after a successful initial public offering (IPO). On the BSE, Kaynes will be listed for trading and transactions in the ‘B’ securities group. NSE also notified the list of companies. The ₹858 crore IPO has received 34.16 times oversubscription with strong appetite among investors.

FSN E-Commerce ventures: Private equity player Lighthouse India will sell shares worth ₹335 crore in FSN E-Commerce Ventures, which runs Nykaa, through a block deal tomorrow. Bank of America Corporation is the appointed banker for the deal, according to reports. Lighthouse India is expected to sell shares in the surrounding price band ₹180-183.5 each, a 2% discount to the e-commerce beauty company’s last Monday closing price.

HDTV: Billionaire Gautam Adani-led Adani Group’s open offer to acquire an additional 26% stake in New Delhi Television Ltd news broadcast from the market will begin on Tuesday, November 22. offer, for which price band of ₹294 per share has been fixed, will open on November 22 and close on December 5, informed JM Financial, the firm managing the offer on behalf of Adani Group firms. The previous timeline for open bids by Adani was from October 17 to November 1.

Jindal Steel and Power: Botswana’s energy ministry has declared India’s leading steel, mining, and infrastructure player, Jindal Steel, and Power (JSPL) as the preferred bidder in the tender to build a 300-megawatt (MW) coal-fired power plant. Jindal is one of the companies bidding for the only fossil fuel-based power plant planned to be built in the South African country in the next two decades.

Nazara Technologies: Nazara Broadcasting on Monday posted an 11% surge in profit after tax to ₹169 crore for the quarter ended September 2022, against ₹153 crore in the year-ago period. The company said its revenues increased by 104% to ₹2,638 in the quarter reviewed, against ₹1,296 crore in the corresponding quarter of the previous year, according to a statement shared with stock exchanges.

Reliance Industries: The National Company Law Tribunal (NCLT) on Monday gave its approval to Reliance Jio’s subsidiary Reliance Projects and Property Management Services for the acquisition of Reliance Infratel (RITL) which owns the tower and fiber assets of Reliance Communications. NCLT has asked Jio to deposit ₹3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM towers and fiber assets.

Paper JK: JK Paper on Monday said it will acquire Horizon Packs Private Ltd and Securipax Packaging Private Ltd in a phase-out phase ₹578 deep. HPPL and SPPL have seven plants across the country, the companies said in a regulatory filing. JK paper will acquire 26.92 crore equity shares in HPPL for ₹19.33 per share and 4.63 lakh common equity for ₹1,256.95 each in SPPL – representing 85% stake in each company.

HDFC Bank / Canara Bank: The Reserve Bank of India (RBI) has allowed leading private lenders HDFC Bank Ltd and state-run Canara Bank Ltd to open a special “vostro account” for trading in rupees and Russia, Reuters news agency quoted a report as saying on Monday. A Vostro account is an account held by a bank on behalf of another, often foreign bank, and is an important part of correspondent banking.

Sadbhav Engineering: Vasistha C Patel has resigned as Chief Executive Officer (CEO) of the company with immediate effect, according to reports. Nitin R Patil has also resigned as the company’s Executive Director and Chief Financial Officer (CFO), the report added.

Bharti Airtel: Bharti Airtel has increased the prices of its minimum recharge mobile plans in Haryana and Odisha. As listed on the company’s website, the price of the minimum monthly recharge plan has increased by around 57% to ₹155 in both states. As of now, Airtel’s minimum recharge plan charges in Haryana and Odisha were ₹99. It offered 200 MB of mobile data and calls at speed ₹2.5 paise per second. The ₹155 plan offers unlimited voice calls with a total of 1GB data and 300 SMS.