Top 10 stocks for today - 16th October 2024

16 Oct 2024 , 09:20 AM

Here are some of the stocks that may see significant price movement today.

Cochin Shipyard: The government wants to sell a 5% stake in a state-owned shipyard through an Offer for Sale (OFS), with a floor price of ₹1,540 per share. The OFS contains a standard offer of 2.5% plus an additional 2.5% as a green shoe option. The sale will begin on October 16 for non-retail investors and October 17 for retail investors.

Rallis India: Agri-inputs company recorded a 19.5% YoY increase in net profit to ₹98 Crore for the second quarter ending September 30, 2024. In the previous fiscal quarter, Rallis India made a net profit of ₹82 Crore. The company’s revenue from operations increased by 11.5% to ₹928 Crore, from ₹832 Crore in the previous fiscal year.

G R Infraprojects: The Maharashtra State Road Development Corporation Ltd (MSRDC) has issued a Letter of Acceptance (LOA) to an infrastructure business for the building of an access-controlled portion of the Pune Ring Road in Maharashtra. The project, priced at ₹1,885.63 Crore, spans 9.341 km from Kalyan/Rathwade to Shivare/Kusgaon in Pune district.

Capri Global Capital: The non-banking finance firm has partnered with renewable energy fintech Credit Fair to offer a new rooftop solar finance product under MSME loans. The company aims to create a distinct ₹1,000 Crore green loan book in the coming years. This project allows individuals and businesses to embrace solar energy through hassle-free, collateral-free financing with little documentation, offering loan approvals in less than five minutes and disbursals within 4-6 hours.

PNC Infratech: The construction engineering firm said that it has won Letters of Acceptance from the Maharashtra State Road Development Corporation (MSRDC) for two large Engineering, Procurement, and Construction (EPC) road projects. The first project is the development of an access-controlled Pune Ring Road (Package PRR E2) from Indori to Chimbali in Pune District.

KEI Industries: The cable producer reported a 10.3% YoY increase in net profit to ₹154.8 Crore for the second quarter ending September 30, 2024. In the preceding fiscal quarter, KEI Industries reported a net profit of ₹140.3 Crore. The company’s revenue from operations increased by 17.2% to ₹2,279.6 Crore from ₹1,945 Crore in the previous year.

IndiGo: IndiGo Ventures, the country’s largest airline, announced that it has got approval from market regulator Sebi to form a venture capital fund, with investments likely to begin by the end of current fiscal year. IndiGo Ventures, the airline’s corporate venture capital fund, has received Alternative Investment Fund clearance from India’s Securities and Exchange Board (SEBI).

Adani Energy Solutions: The company said that it has acquired two project special purpose vehicles from PFC Consulting Ltd for a cash value of about ₹38 Crore. In two separate BSE filings, AESL reported that on October 14, 2024, it entered into share purchase agreements with PFC Consulting Ltd (PFCCL) to acquire 100% equity interests of Jamnagar Transmission Ltd and Navinal Transmission Ltd.

Bhageria Industries: The company stated that it has received a Letter of Award as a solar power developer (SPD) for solar photovoltaic power producing stations with a total capacity of 32 MW (AC) under Component C of the PM-KUSUM plan. Its area of work will include power generation, with the Maharashtra State Electricity Distribution Company purchasing power generated by the project for 25 years from the anticipated commercial operation date.

RailTel Corporation: The Maharashtra Housing and Area Development Authority has issued the company a work order for a project worth ₹79.84 Crore. The project entails selecting a service provider (cloud hosting and managed services) to set up, migrate, and administer a data centre and disaster recovery site for MHADA in the cloud.

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