Corp Actions For Bonus Issue, MoU: 3 Small, Mid Cap Stocks Likely To React On Monday

Three corporate actions took place on March 9, 2024 and shares of these companies are likely to react on Monday. These stocks are Advani Hotels & Resorts, GE Power India Ltd, and Tata Technologies Ltd. Advani Hotels & Resorts declared record date for bonus issue, GE Power bagged order from West Bengal Power Development, and Tata Technologies signed a deal with Telangana State government to build Advanced Technical Skill Training Centres in 65 Industrial Training Institutes (ITIs) across the state. Check more details below:

1. GE Power Bags Order: Last trading price of GE Power shares on BSE is Rs 287.15 apiece with intraday rally of 3.20%. The 52-week high price of GE Power shares on BSE is Rs 323.95 per share and 52-week low price is Rs 97.45 apiece, respectively. The company has a market capitalisation of Rs 1930.44 crore. GE Power shares gained 59% in last 6-months and soared 144% in last 1-year.

As per the regulatory filing of company dated March 10, 2024, we would like to notify that GE Power India Limited has received a purchase order from The West Bengal Power Development Corporation Limited with base value as Rs 9.53 crores plus (GST 18%). The time period by which the order is to be executed is 6 months. The significant terms and conditions of the order includes Supply & Erection of parts for Electrostatic Precipitator in Sagardighi Thermal Power Project.

2. Advani Hotels & Resorts Declares Record Date For 1:1 Bonus Share: Advani Hotels & Resorts (India) Ltd shares zoomed nearly 1% in trade on March 8 to settle at Rs 157.95 apiece on BSE. The zero-debt company fixed March 20 as the record date for 1:1 bonus share. Advani Hotels shares offered 51% return year-to-date, surged 111% in last 1-year and gained 174% in last 3-years. The company also recommended Rs 2/share interim dividend and shares traded ex-dividend on February 9, 2024.

As per the BSE filing of Advani Hotels dated March 9, 2024, "the Company has fixed Wednesday, March 20, 2024 as 'Record Date' for the purpose of determining the eligibility of Shareholders for the entitlement of issue of Bonus Equity Shares in the ratio of 1:1 i.e. 1 (One) new fully paid-up Equity Shares of Rs 2/- (Rupees Two only) each for every 1 (One) existing fully paid-up Equity Share of Rs 2/- (Rupees Two only) each held by them on the Record Date."

3. Tata Technologies Inks Pact With Telangana Govt: The company on March 9, 2024 informed via its BSE filing that it has signed a 5-year Memorandum of Agreement (MoA) with the Government of Telangana to modernize 65 government-owned ITIs across the state with a total project cost of INR 2324 Crores. This collaboration is an extension of Tata Technologies' efforts to support projects of high social impact and complement the efforts of the Telangana Government to enhance the availability of skilled talent and attract investments from industries desirous of setting-up manufacturing infrastructure in Telangana.

Last trading price of Tata Technologies shares on BSE is Rs 1127.60 apiece with intraday gain of over 5%. It has a market capitalisation of Rs 45,743.18 crore. Tata Technologies shares gained 3.95% in last 1-week, declined over 2% in last 2-weeks, and declined over 4% in last 3-months.

Disclaimer: The stocks highlight the corporate actions and are not recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.