Stocks To Watch: Adani Green Energy, ITC, Tech Mahindra, LIC, RVNL & More

Hot companies including LIC, Tech Mahindra, ITC, Adani Green Energy, and LTIMindtree are among the top 10 stocks for Wednesday, December 20, and are probably going to be the attention of market observers.

Varun Beverages

The company's board of directors approved the acquisition of an entire stake in The Beverage Company (Proprietary) Limited, South Africa, as well as its wholly-owned subsidiaries (Bevco). Subject to regulatory and other approvals (if any), including but not limited to PepsiCo Inc. and the Competition Commission of South Africa, the board also approved the option to accept a minority co-investment from a large equity fund. ZAR 3 billion (INR 13.2 billion; 1 ZAR = 4.4 INR) is the estimated value of the proposed deal at the enterprise level.

Bevco is a South African company that manufactures and distributes own-brand and licenced (PepsiCo Inc.) non-alcoholic drinks. PepsiCo Inc. has granted Bevco franchise rights in South Africa, Lesotho, and Eswatini. It furthermore possesses distribution rights for Botswana and Namibia.

Rail Vikas Nigam Ltd (RVNL)

M/s KRDCL-RVNL JV has emerged as the Lowest Bidder (L1) for Varkala Sivagiri Railway Station - Major upgradation/redevelopment of Varkala Sivagiri Railway Station in Kerala. The project is worth Rs 123.36 Cr.

Deepak Nitrite

The binding term sheet for the offtake of 250 KTPA of propytene and 11 KTPA of hydrogen from the Petronet Petrochemical Project in Dahej, Gujarat, has been approved for execution by the Board of Directors of Deepak Phenotics Limited (DPL), a wholly owned material subsidiary of Deepak Nitrite Limited. The period of time for which the offtake is permitted is 15 years from the date of PLL's first supply of propytene and hydrogen to DPL.

Container Corporation of India Limited

On December 19, 2023, in New Delhi, Container Corporation of India Ltd. (CONCOR) and Schenker India Private Limited. (DB Schenker), one of the leading Logistics companies inked a Memorandum of Understanding to work together on EXIM & Domestic Business. The commitment of both organisations to support sustainable supply chain practices in the logistics sector is emphasised by this MoU.

Bank of India (BOI)

On Tuesday, 19th December the bank announced the infusion of capital of Rs 19.20 Cr in Bank of India Investment Manager Pvt Ltd which is a 100% wholly owned subsidiary of BOI.

Tech Mahindra

On December 19, 2023, Mr. C. P. Gurnani announced his retirement from the position of Managing Director and CEO of the company. As a result, Mr. Gurnani would no longer hold these positions as of the close of business on that day. Effective December 19, 2023, at the end of the business day, Mr. C. P. Gurnani has resigned as a director of the company, effective with his retirement as managing director and CEO. With effect from December 20, 2023, Mr. Mohit Joshi will serve as the company's managing director and CEO.

ITC

On December 17, 2023, ITC Infotech India Limited ('I3L'), a fully owned subsidiary of the company, established ITC Infotech Arabia Limited ('ITC Arabia') as a totally owned subsidiary in the Kingdom of Saudi Arabia. As a result, the company has turned ITC Arabia into a step-down fully owned subsidiary. I3L will be paying cash consideration to ITC Arabia towards subscription of its entire share capital of 16,00,000 shares of SAR 10 each at par, as per a regulatory filing.

Adani Green Energy

On December 19, 2023, Adani Renewable Energy Holding Nine Limited, a wholly-owned subsidiary of the company, established Adani Renewable Energy Fifty Nine Limited (ARE59L), one wholly-owned subsidiary. The primary goal of the ARE59L is to employ solar, wind, and other renewable energy sources to create, develop, transform, distribute, transmit, sell, and provide any sort of power or electrical energy.

LTIMindtree

LTIMindtree has established a strategic partnership with Microsoft to launch state-of-the-art employee engagement applications driven by artificial intelligence. This partnership represents a big step forward in providing better experiences for customers and employees. Utilising Microsoft Azure OpenAI Service and Azure Cognitive Search, LTIMindtree's Generative AI-powered Employee Engagement Applications provide a variety of AI-led capabilities, such as content summarization, graph-led knowledge structure, and a creative copilot.

LIC

The insurance giant on Tuesday offloaded 169,802,847 to 102,752,081 equity shares of Tata Motors, plummeting its shareholding from 5.110% to 3.092% of the paid-up capital of the said company. The sell-off of a 2.018% equity stake during the period from 28.08.2015 to 18.12.2023 was initiated at an average cost of Rs 711.65.