Stocks To Watch: JSW Steel, SpicJet, Infosys, REC, Canara Bank & More

Popular companies like JSW Steel, Infosys, SpiceJet, Canara Bank, and Tata Power are among the top 10 stocks that market observers will be keeping an eye on on Tuesday, December 12.

JSW Steel

Consolidated crude steel output for November 23 was 22.04 lakh tonnes, according to JSW Steel. This is an 11% YoY increase from 19.94 lakh tonnes in the same month the previous year. At the Indian Operations level, capacity utilisation was 90% as of November 23. Better demand than the previous year had a beneficial influence on JSW Steel USA-Ohio volumes.

Infosys

The Board in its meeting held on Monday has appointed Jayesh Sanghrajka as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from April 1, 2024. Nilanjan Roy, Chief Financial Officer and Key Managerial Personnel has resigned from the services of the Company. His last date with the Company would be March 31, 2024.

SpiceJet

The company has announced that it shall soon be listing its securities on the National Stock Exchange of India Limited. The Board of Directors of the company will meet today to declare financial results for the second quarter ended September 30, 2023; and consider options for raising fresh capital through issue of equity shares and/or convertible securities on a preferential basis.

GRM Overseas

A consumer-oriented venture capital firm named Sauce.vc acquired a majority share of more than 3% in GRM Foodkraft Pvt. Ltd, a subsidiary of GRM Overseas Ltd. that is focused on the domestic Indian food sector, for an undisclosed value. Furthermore, Sauce has also acquired an additional 1 per cent stake from other shareholders, as per a stock exchange filing.

Tata Power

Indian Oil Corporation Limited (IOCL) and Tata Power EV Charging Solutions Limited (TPEVCSL), a Tata Power Group Company and one of the top providers of EV charging solutions have inked a Memorandum of Understanding (MoU) to establish fast and ultra-fast electric vehicle (EV) charging stations throughout India. As part of the partnership, Tata Power will build more than 500 EV charging points in various IOCL retail outlets. These EV charging points will be installed in major cities like Mumbai, Delhi, Kolkata, Bengaluru, Ahmedabad, Pune, and Kochi, as well as across major highways such as the Mumbai-Pune Expressway, Salem-Kochi Highway, Guntur-Chennai Highway and the Golden Quadrilateral.

Vipul Organics

Vipul Organics declared that the Bhoomi Poojan, scheduled for December 14, 2023, will mark the official start of building of its new plant in Sayakha, Gujarat. The project has already acquired environmental clearance, and the necessary permits and clearances for the plant's manufacture are being processed. Vipul Organics will have one of the largest manufacturing capacities for pigments and colorants-not just in India, but globally, outside of China-with the new plant.

Canara Bank

The bank has raised Rs 1403 crores Non-Convertible, Taxable, Perpetual, Subordinated, Fully Paid Up, Unsecured Basel III Compliant Additional Tier 1 Bonds of face value Rs. 1 crore each at a coupon of 8.40 %. The issue is proposed to be listed on NSE.

REC

The state-owned company announced that it has entered into a 200 million Euro Loan Agreement with German Bank Krn. REC would use a Line of Credit to refinance investments In the distribution infrastructure of DISCOMs in the framework of and in alignment with the Revamped Distribution Sector Scheme (RDSS). As per a stock exchange filing, REC is to use a Line of Credit to re-finance RDSS long-term investment loans of upto 40% of Discoms' CAPEX under Part-A, distribution infrastructure works, of RDSS.

Control Print

For strategic business purposes in the European market, the firm has further invested Euro 3,70,000 by subscribing 37,000 equity shares at a price of €10 per share to Control Print B.V., a wholly-owned subsidiary. Being it is a wholly owned subsidiary, there is no change in the shareholding percentage of the Company in Control Print B.V, pursuant to this investment, as per a stock exchange filing.

Intellect Design Arena

Indian Bank has selected Intellect's eMACH.ai driven Cash Management System to support their Corporate Banking Modernization, according to a statement released by Intellect Design Arena Ltd. This strategic alliance is a game-changer, giving Intellect even more clout in the Indian BFSI sector and demonstrating the potential of an intellectual organisation to transform transaction banking.