Stocks to Watch: Bank of Baroda, Mahindra, Network18, Adani Ports, Ircon, Paytm

Bank of Baroda: Is trying to trace the paper trail behind a recent scandal where some employees allegedly created false app sign-ups using random mobile phone numbers. The bank has asked branches to produce customer consent and registration forms for signing up on the bob World app and changing mobile numbers.

Mahindra & Mahindra: Will raise prices of its passenger and commercial vehicles from January 2024, in response to the rising costs and increased commodity prices. Price increases will vary across models, the automaker said.

Network18 Media & Investments Ltd: The company and TV18 Broadcast Ltd have announced a scheme of arrangement under which TV18 and E18, which owns and operates the moneycontrol website and app, will merge with Network18. The move will consolidate the TV and digital news businesses of the Network18 group under one company and help create a platform-agnostic news media company with a footprint across languages.

Adani Ports and Special Economic Zone: Has said that its board will meet on 12 December to consider raising funds through the issue of non-convertible debentures or issue or renew preference shares on a private placement or preferential basis.

Ircon International: The Centre plans to sell up to 8% stake in Ircon through an offer for sale beginning Thursday, which will help it garner about ₹1,100 crore. The government will sell about 7.53 crore equity shares, at a floor price of ₹154 apiece.

One97 Communications: The fintech firm which operates Paytm will focus on high-ticket loans and go slow on loans that are less than ₹50,000. Paytm’s president and chief operating officer Bhavesh Gupta has said that the company’s merchant loan portfolio is performing better now compared to consumer loans.

Shree Cement: Plans to bid for lithium mining rights under a government plan to secure critical minerals production through auctions. The government has placed 20 blocks of critical minerals for auction for commercial mining by the private sector. The total value of these blocks is estimated at ₹45,000 crore.

IDFC First Bank: Cloverdell Investment, owned by Private equity firm Warburg Pincus, will likely sell a 1.3% stake in IDFC First Bank through a block deal for $100 million at ₹85.7 per share on Thursday, according to media reports.

Brigade Enterprises: The real estate company has entered a joint development agreement with the land owner to develop a premium ‘A Grade’ office space in the central business district of Bengaluru. The project will have a developable area of around 0.20 million square feet with a gross development value of about ₹500 crore.

Bharat Electronics: The state-owned company has received an order of ₹580 crore from the Indian Army. Cumulatively, BEL has received orders worth ₹18,298 crore in FY24 so far.

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Published: 07 Dec 2023, 07:18 AM IST