Stocks to Watch: Check out the companies making headlines before the opening bell.
Hero MotoCorp: Hero MotoCorp to increase prices of motorcycles and scooters from July 1. The company will increase ex-showroom prices of its motorcycles and scooters with effect from July 1 to partially offset the steadily growing input cost inflation. The price revision will be up to Rs 3,000. The exact quantum of increase will be subject to the specific model and market.
ONGC: ONGC arm announces new oil discovery in Colombia. ONGC Videsh, wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation, has made an oil discovery in a recently drilled well Urraca-IX in CPO-5 block, Llanos Basin, Colombia. Earlier ONGC Videsh had discovered commercial oil in the Lower Sand pay in Mariposa and Indico fields in the block in 2017 and 2018 respectively, which are currently commercially producing 20,000 barrels per day.
Century Plyboards: Century Plyboards makes further investments in subsidiary Century Panels. The company has made further investments of Rs 20.95 crore in its wholly owned Century Panels by subscribing to 2.09 crore shares through a rights issue.
DCM Shriram: DCM Shriram to invest Rs 65 crore in special purpose vehicle (SPV) for wind-solar hybrid renewable power project. The company informed exchanges that the board has approved to invest up to Rs 65 crore for minimum 26 percent equity stake in an SPV which will be created for setting up a wind-solar hybrid renewable power project. The company will get 50 megawatt of renewable power supply (25 MW round the clock) from the SPV. It will also invest up to Rs 57.10 crore to manufacture sulphate of potash (K2SO4) with a capacity of 4,600 TPA at Hariyawan (UP) sugar facility and the objective is to optimise the circular economy and derive value from byproducts.
Thermax: Thermax arm buys two companies in renewable energy sector. Subsidiary First Energy has acquired two companies – Jalansar Wind Energy and Kanakal Wind Energy – which will become wholly owned step-down subsidiaries of Thermax. Both the companies belong to the renewable energy sector.
Jammu & Kashmir Bank: Jammu & Kashmir Bank to consider fundraising on June 28. The bank said the board will hold a meeting on June 28 to consider raising capital (Tier I/Tier II) during the financial year 2022-23.
Cigniti Technologies: Cigniti Technologies to consider closure of share buyback on June 29. The company said its board of directors will hold a meeting on June 29 to consider the closure of buyback of shares of the company.
Suyog Telematics: Nariman Investment Holdings offloads 4.02 lakh shares in Suyog Telematics. Nariman Investment Holdings sold 4.02 lakh shares in the company via open market transactions on June 22. With this, its shareholding stands reduced to 19.05 percent from 22.89 percent. Of the shares sold, Ketan Mohanlal Kakrecha acquired 1.5 lakh shares at an average price of Rs 347.81 apiece.
Moneycontrol News
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