Stocks To Watch: Adani Green, BOI, Power Grid, SBI, Shriram Finance & More

Attractive companies like Adani Green Energy, SBI, Ambuja Cements, Shriram Finance, and Indiabulls Housing Finance are among the top 10 stocks that market observers are likely to be keeping an eye on today, Wednesday, December 6.

Adani Green Energy

With the support of a group of well-known international banks, Adani Green Energy Ltd. (AGEL) announced follow-on funding of USD 1.36 billion (Bn) to increase its Construction Financing Framework to USD 3 billion. Since March 2021, eight eminent worldwide banks have signed definitive agreements. These banks are all returning lenders that have contributed to the creation of AGEL's construction financing framework.

A group of lenders, comprising BNP Paribas, Coöperatieve Rabobank U.A., DBS Bank Ltd., Intesa Sanpaolo S.p.A., MUFG Bank, Ltd., Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation, has extended the green loan facility. The construction of AGEL's upcoming significant project, the largest Renewable Energy Park in the world, at Khavda, Gujarat, will be made possible in major part by the green loan facility.

The funding also represents a noteworthy accomplishment for the first 2,167 MW of construction at Khavda and will serve as a springboard for further development of the Khavda renewable site. In addition to enabling AGEL's goal of 45 GW of operating renewable power by 2030, the world's largest RE park in Khavda will be essential to India's transition to net zero emissions.

Ambuja Cements

An important step in its development path has been reached as Ambuja Cements Limited (ACL) has announced the profitable completion of its acquisition of Sanghi Industries Limited (SIL). With an enterprise value of Rs. 5,185 crores, this strategic acquisition strengthens Ambuja Cement's position in the market and demonstrates the Adani Group's unwavering commitment to the housing and infrastructure development of India.

With the transaction fully financed by internal accruals, ACL now owns a 54.51% controlling stake in SIL. With the acquisition financed by internal accruals, ACL's consolidated capacity rises from 68.5 MTPA to 74.6 MTPA. Through this acquisition and an expansion in capacity to 15 MTPA throughout the West Coast markets with the states of Gujarat, Maharashtra, Karnataka, and Kerala at a highly competitive cost based on SIL's strength of low-priced clinker, ACL will expand its coastal presence. The coming thirty months will see the commissioning of this additional capacity.

Indiabulls Housing Finance Limited

For a maximum amount of Rs 100 crores, the company has announced secured, redeemable, non-convertible debentures (NCDs) with a face value of Rs 1,000 apiece. With the option to retain oversubscription up to Rs 100 crores, the total amount is up to Rs 200 crores, which is within the shelf limit of Rs 2,000 crores. The issue has been rated "CRISIL AA/Stable" and "[ICRA]AA (Stable)". The tenor of the issue has been fixed at 24 months, 36 months, 60 months, 84 months and 120 months.

Trent

Westside, a part of the renowned TATA family, opened its 227th shop in Prayagraj with the intention of inspiring style connoisseurs. The store occupies 30,000 square feet and is situated at Vinayak Aashirvad, 36/28, Tashkand Marg, Civil Lanes, Prayagraj, Uttar Pradesh - 211001. It will include the majority of Westside's brands for apparel, accessories, cosmetics, footwear, and HOME-all easily accessible in one place-with the goal of keeping style easy for any occasion.

Control Print

For strategic business purposes in the European market, the firm has additionally invested Euro 8,30,000 by subscribing 83,000 equity shares at a price of €10 per share in Control Print B.V., a totally owned subsidiary of the company. Since Control Print B.V. is a wholly owned subsidiary, the company's shareholding portion has not changed as a result of this transaction.

The company has invested an additional Euro 1,10,000 by subscribing 11,000 equity shares at a price of €10 per share on November 29, 2023, and Euro 7,20,000 by subscribing 72,000 equity shares at a price of €10 per share on December 4, 2023, for strategic business purposes in the European market, in addition to the existing investment of Euro 1,520,000 in FY 22-23. In FY 23-24, the subscription of equity shares will be made against cash consideration, with a total investment of €8,30,000.

EaseMyTrip

With the beginning of the Winter Carnival Sale, travellers can now save a whopping amount on flights, hotels, cruises, buses, taxis and vacation packages by using EaseMyTrip.com. This exclusive offer, which is valid from December 5, 2023, to December 9, 2023, is your pass to international travel at deeply discounted rates. Travellers may take advantage of a variety of amazing savings during the Winter Carnival Sale by using the promo code CARNIVAL until December 9th.

For domestic and international travel, you may save up to INR 2,023 and INR 7,500, respectively, while for hotels, you can save up to INR 5,000 and INR 10,000. You may save as much as INR 2000 if you want to take a cab or a bus, respectively. Furthermore, packages for individuals looking for truly remarkable vacation experiences begin at just INR 11,299/-.

By utilising your ICICI Bank credit card, Bank of Baroda credit card, AU Small Finance Bank credit card, and Yes Bank credit card, you can receive an additional discount. All customers who make reservations through EaseMyTrip throughout the promotion period are eligible to get vouchers and freebies from participating brand partners.

Shriram Finance

The company has announced senior, secured, rated, listed, redeemable, taxable non-convertible debentures (NCD) on a private placement basis for an issue size of Rs. 50 Crores plus greenshoe option of Rs. 100 Crores. For the allotment of 5,000 NCDs the coupon rate has been fixed at 8.75% p.a. May 04, 2026 has been fixed as the date of maturity of the issue.

SBI

SBI has proposed for acquisition of a 20% stake at a cost of Rs. 229.52 Cr in SBI Pension Funds Pvt Ltd currently held by SBICAPS (a wholly owned subsidiary of SBI). SBI and SBI Funds Management Ltd., will be the sponsors of SBIPFPL. The acquisition will be completed by 15.12.2023. SBI, the holding company of SBIPFPL currently holds a 60% stake in the company, and post the acquisition SBI will hold an 80% stake or 2,40,00,000 shares of SBI Pension Funds.

Power Grid Corporation of India

In order to establish the Inter-State Transmission System Project for "Transmission system for evacuation of additional 7 GW of RE power from Khavda RE park under Phase III Part B" on a Build, Own Operate and Transfer (BOOT) basis, Power Grid Corporation of India Limited has been declared as the successful bidder under Tariff Based Competitive Bidding.

The aforementioned project entails building three 765kV D/C transmission lines-including a LILO line-that cross the state of Gujarat, the construction of a new 765/400kV switching station at Vataman in the Ahmedabad district, and expansion work at the substations in Navsari and Halvad.

BOI

With an issue size of Rs 4,500 crore, Bank of India has announced fund raising through Qualified Institutional Placement (QIP). A base issue amount of Rs 2,250 crore and a greenshoe option of Rs 2,250 crore are included in the BoI QIP issue. The public sector lender employed the SEBI mechanisms to determine the floor price of its QIP, which is fixed at Rs 105.42 per share.