Stocks To Watch: PNB, Federal Bank, L&T, Vedant Fashions, Railtel Corp & More

Stocks like L&T, PNB, Aditya Birla Fashion, and Retail are among the top 10 stocks that market observers are likely to be focusing on on Friday, December 29.

Vedant Fashions

Vedant Fashions Limited has received a penalty of Rs. 97,718/- in terms of Section 73(9) and Section 122(2)(a) of the CGST Act, 2017 in an order dated December 27, 2023, from the Office of the Principal Commissioner, CGST and Central Excise, Kolkata North Commissionerate, GST Bhawan, Kolkata.

Railtel Corporation of India

The South Central Railway has awarded a work order to RailTel Corporation of India Ltd for comprehensive signalling and telecommunication works for the installation of an automatic block signalling system in the Yermaras-Nalwar section of the Guntakal division. The work order is worth Rs. 120.45 Crore (Including GST).

Aditya Birla Fashion and Retail Limited

A subsidiary of the company, Finesse International Design Private Limited (FIDPL), has granted 1,93,964 equity shares to the company for a total price of Rs 20 crore. As a result, the company's stake in FIDPL has grown from 58.69% to 63.50% of the company's equity share capital.

PNB

On a private placement basis, the bank has issued and allocated Basel Ill Compliant Additional Tier-I Bonds at a coupon rate of 8.55% p.a. totaling Rs. 1153 Crore.

Federal Bank

On December 28, 2023, Federal Bank Ltd. received notification from the Reserve Bank of India (RBI) granting permission to ICICI Prudential Asset Management Company Ltd. (ICICI AMC) to acquire up to 9.95% of the bank's paid-up share capital or voting rights, subject to certain conditions.

Happiest Minds Technologies

The company said on Thursday that the SAFA Best Presented Annual Report Awards had given its Integrated Annual Report 2022 (IAR) a Gold medal. The organisation has already won three awards for its Integrated Annual Report (FY 2021-22). The ICAI Award for Excellence in Financial Reporting 2021-22 and the GOLD award from the League of American Communication Professionals (LACP) were previously given to the IAR 2022.

The Ramco Cements

During their meeting on December 28, 2023, the Board of Directors decided to purchase shares in Ramco Industries Limited from Smt. Nalina Ramalakshmi, a member of the Promoter Group, for a total of Rs. 16 crores, to be paid in one or more tranches. The company's existing investment of Rs. 20.53 crores in Ramco Industries Limited has increased to Rs. 288.91 crores, or more than 14 times, in value. 53.88% of Ramco Industries' paid-up capital is now held by the Promoters and Promoter Group.

L&T

On December 27, 2023, Larsen & Toubro finalised its acquisition of Sapura Nautical Power Pte Ltd (JV Partner)'s entire stake in L&T Sapura Offshore Private Limited. L&T Sapura Offshore Private Limited is now a fully owned subsidiary of the company as a result.

DroneAcharya Aerial Innovations

DroneAcharya Aerial Innovations Limited is pleased to announce that Tata Consultancy Services (TCS) has awarded the firm a revolutionary contract valued at Rs. 15,78,840.00. This contract represents a significant development in drone offerings as it calls for the deployment of state-of-the-art Drone-based 5G Solutions. This partnership with TCS marks the beginning of an extended project to provide innovative solutions for a range of industrial verticals. With this collaboration, DroneAcharya and TCS are launching a long-term initiative to develop cutting-edge solutions for a variety of industry domains.

KEC International

KEC International has secured new orders of Rs. 1,566 crores across its various businesses. The business has secured orders for T&D projects in India and the Americas, an order in the commercial building segment in India, an order for composite works for an oil terminal station in India and orders for supply of various types of cables in India and overseas.