Stocks To Watch On June 13: Benchmark indices ended higher on Wednesday, with the Nifty hitting its fresh record closing level amid a largely positive trend in global equities. In today’s trade, shares of L&T Finance, Arvind, Nestle India, Whirlpool India among others will be in focus due to various news developments.
L&T Finance: According to reports, investment firm Bain Capital and BNP Paribas will likely sell shares worth $180 million (Rs 1,500 crore) of L&T Finance, through block deals, on Thursday.
Two entities of Bain Capital — BC Asia Growth Investments and BC Investments VI — along with BNP Paribas Financial Markets, will together sell a 3.54 per cent stake (88.2 million shares) today, the report added.
360 One WAM: 360 ONE WAM has informed the stock exchanges that it has entered into a definitive agreement to acquire ET MONEY.
360 ONE WAM expects the acquisition to create significant synergies between 360 ONE and ET MONEY, leveraging their combined product offerings, domain expertise, portfolio advisory solutions, brokerage services, and credit solutions.
PNB Housing Finance: The Board of Directors of the company will meet on June 18, 2024 to consider and approve fund raising by issuance of non-convertible debentures (NCDs) aggregating up to Rs 10,000 crore on private placement basis.
Whirlpool of India: Appliance maker Whirlpool of India and Hindustan Unilever Ltd have announced a new marketing alliance for Surf Excel, the laundry brand of the FMCG player. As per the alliance, both brands will have joint marketing initiative.
Tata Power: Tata Power Renewable Energy Limited (TPREL), a subsidiary of the company, has deployed over 850 charging points in key metropolitan areas, including Delhi, Mumbai, Ahmedabad, Bengaluru, Jammu, Srinagar, Dharwad, Lucknow, and Goa.
Nestle India: FMCG major Nestle India on Wednesday said it has changed the record date for the payment of final dividend to July 16 from July 15 earlier. Further, the board of Nestle India gave nod to continuation of payment of general licence fees (royalty) at the current rate of 4.5% to its Swiss parent Nestle.
Arvind: The strike has been called off by the workers at Santej Plant and operations were partially impacted due to the strike getting back to normalcy. The company has estimated potential loss of revenue of around Rs 180-200 crore.
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