Stocks To Watch: Adani Green Energy, PNB, ICICI Bank, REC, DCB Bank & More

Hot companies like Cochin Shipyard, Mazagon Dock Shipbuilders, Adani Green Energy, PNB, and ICICI Bank are among the top stocks that are probably going to be under market observers' attention on Thursday, December 21.

REC

Kankani Power Transmission Limited has been incorporated as a wholly owned subsidiary of REC Power Development & Consultancy Limited (a wholly owned subsidiary of REC Limited). The company has been incorporated to develop the Transmission system for "Rajasthan Intra-state Transmission Package 3 (P3)", as per a stock exchange filing.

DCB Bank

To provide cheap house loans in the nation, DCB Bank and Easy Home Finance Limited (EASY), the top mortgage tech firm in India, have partnered to form a lending business partnership. Through this partnership, the affordable housing segment expertise of DCB Bank and the technological prowess of EASY will be combined to expedite the issuance of affordable house loans and achieve the aspiration of many Indians to become homeowners.

Sonata Software

The world leader in power transmission and conveyor belts, AMMEGA Group, has production facilities and Customer Solution Centres (CSCs) all over the world. Sonata Software has announced that it has inked a deal with them. In the upcoming years, Dynamics 365 Finance and Supply Chain Management will be implemented for CSCs and Manufacturing Units (MUs).

Cochin Shipyard

On December 19, 2023, the company and the MoD inked a deal worth Rs. 488.25 crores. The work package covers maintenance as well as repairs for the naval vessel's systems and equipment. Based on the MoD's Approval of Necessity (AoN), the work on the same has already started in Q2 of FY24 and is anticipated to be finished by Q1 of FY25.

Mazagon Dock Shipbuilders

On December 20, 2023, Mazagon Dock Shipbuilders Limited (MDL) and the Ministry of Defence's Acquisition Wing inked a Rs. 1600 Cr deal for the construction and delivery of six (06) Next Generation Offshore Patrol Vessels (NGOPVs) for the Indian Coast Guard (ICG).

Punjab National Bank

Brickwork Ratings vide its rating action dated 20.12.2023 has upgraded the ratings in respect of Basel Ill Additional Tier 1 Bonds from BWRAA/Stable to BWRAA+/Stable. As per a stock exchange filing, Brickwork Ratings (BWR) upgrades the ratings for Punjab National Bank's (PNB) outstanding Basel III-Additional Tier I Bonds of Rs.495Crs. To BWRAA+/Stable from BWRAA/Stable and the rating for PNB's unutilised Base lII-Additional Tier I Bonds of Rs.2,505Crs. To BWRAA+/Stable from BWRAA/Stable; BWR also withdraws the ratings of PNB's Base lII Tier II Bonds of Rs.500 Crs on full redemption.

Adani Green Energy

Three wholly-owned subsidiaries, Adani Renewable Energy Fifty Two Limited (ARE52L), Adani Renewable Energy Fifty Three Limited (ARE53L), and Adani Renewable Energy Fifty Four Limited (ARE54L), were incorporated on December 20, 2023, with an authorised share capital of Rs 1 lakh by Adani Saur Urja (KA) Limited, a wholly-owned subsidiary of Adani Green Energy.

ICICI Bank

Mr. Sandeep Batra (DIN: 03620913) has been reappointed as the bank's executive director, effective December 23, 2023, until December 22, 2025, by the board of directors of the bank. The two-year extension is still within the five-year period that the shareholders previously agreed.

UltraTech Cement

In order to acquire 26% of the equity shares of Clean Max Terra Private Limited for an investment of upto Rs 20.25 crores, the firm has entered into a share subscription and shareholders agreement. The acquisition is for the purposes of meeting the company's green energy needs, optimising energy costs and complying with regulatory requirements for captive power consumption under electricity laws, as per a regulatory filing.

Punjab & Sind Bank

On December 19, 2023, the Indian government announced that Ms. Rashmi Khetrapal will no longer serve as an unofficial director on the Punjab & Sind Bank board of directors. This change will take effect immediately.