Stocks to Watch: Check out the companies making headlines before the opening bell.
Bharat Dynamics: The state-owned defence company has signed a contract worth Rs 2,971 crore with the Ministry of Defence for supply of ASTRA MK-I Beyond Visual Range (BVR) air to air missile and associates equipments to Indian Air Force and Indian Navy.
Bata India: Parent to sell 2.8 percent stake via block deal. floor price at Rs 1,750 per share (6.8 percent discount to current market price). Deal size would be Rs 630 crore. JP Morgan is the banker. Lock in of 90 days post block deal.
Quess Corp: The company informed exchanges that the board of directors has approved the declaration of an interim dividend of Rs 4 per share. The record date for payment of the interim dividend will be on June 10.
Rail Vikas Nigam: Joint venture RVNL – Bhartia has received a Letter of Acceptance (LoA) from the Northeast Frontier Railway for the construction of single line BG tunnel. The total estimated cost of the project is Rs 560.26 crore.
S&S Power Switchgear: The company posted a loss of Rs 4.68 crore in Q4FY22, which widened from loss Rs 0.27 crore in same period last year, impacted by lower topline. Revenue fell 35 percent year-on-year to Rs 29.85 crore in quarter ended March 2022.
HFCL: HFCL bags purchase orders from leading telecom operator. The company, along with its material subsidiary HTL, has received the purchase orders (‘PO’) of Rs 237.25 crore, from one of the leading private telecom operators of the country. The company will supply optical fibre cables. The contract will be executed by October 2022.
Venus Remedies: Promoter Pawan Chaudhary acquired 1.26 lakh equity shares in the company through open market transactions. His shareholding in the company stands increased to 12.82 percent, up from 11.87 percent earlier.
Somany Ceramics: Saikat Mukhopadhyay has resigned as chief financial officer of the company. He ceased to be the CFO of the company from May 31.
Gujarat Themis Biosyn: Jagadish G Kaujalgi has resigned as chief executive officer of the company with effect from July 10.
Shivalik Bimetal Controls: CRISIL upgrades long term rating on bank facilities of Shivalik Bimetal Controls. Credit rating agency CRISIL has upgraded its long term rating on the bank facilities of Rs 71 crore of company to ‘A’ with stable outlook, from ‘A-‘, and short term rating to ‘A1’ from ‘A2+’.
Moneycontrol News
