Top 10 stocks for today – 26th February 2024

26 Feb 2024 , 08:29 AM

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

Biocon: The biopharmaceutical business has provided Mizuho Bank with a corporate guarantee of $20 million in order to obtain a $20 million term loan facility offered to the company’s step-down subsidiary Biocon Generics Inc. The company guarantee is good for five years.

JSW Infrastructure: The JSW Group firm has obtained a letter of award from the VO Chidambaranar Port Authority for the mechanisation of the North Cargo Berth-III (NCB-III) for dry bulk cargo handling at the port on a design, construct, finance, operate and transfer (DBFOT) basis under the PPP route.

Ami Organics: Sageone Investment Advisors LLP, a Pune-based investment firm, purchased 2.5 lakh equity shares (equal to 0.68% of the paid-up equity) through open market transactions at an average price of ₹1,075 each.

Foseco India: The foundry consumables and solutions company’s net profit increased by 33% year on year to ₹16.3 Crore in the quarter ended December CY23 (Q4CY23), aided by topline and other income. Revenue from operations increased by 15.7% to ₹122.3 Crore in the quarter compared to the same time last year.

Kotak Mahindra Bank: The bank, Zurich, and Kotak Mahindra General Insurance Company have mutually agreed that Zurich will buy a 70% ownership in Kotak General through a mix of main and secondary purchases in a single tranche for ₹5,560 Crore. According to an earlier disclosure made in November 2023, Zurich Insurance planned to initially acquire a 51% stake in Kotak General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional 19% stake three years later.

Rain Industries: The calcined petroleum coke company recorded a consolidated net loss of ₹107.9 Crore for the quarter ended December 2023 (Q4CY23), compared to a profit of ₹12.6 Crore the previous year, due to lower topline, impairment loss, and increased finance expenses. In the quarter, consolidated revenue from operations decreased by 25% year on year to ₹410 crore.

RITES: IIT Bhubaneswar has provided the corporation with a formal Letter of Intent to employ a Projects Management Consultant (PMC) for the infrastructure development of its permanent campus in Odisha.

Aditya Birla Capital: The business invested ₹50 Crore in Aditya Birla Capital Digital (ABCDL) through a rights issuance. Following this investment, Aditya Birla Capital’s percentage shareholding remains unchanged, and ABCDL continues to be completely owned subsidiaries of the firm.

Skipper: The producer of power transmission and distribution structures has received a new order for ₹737 Crore for the design, production, and construction of a new 765 kV transmission line for the Power Grid Corporation of India.

Arvind Smartspaces: ICICI Prudential Equity Opportunities Fund purchased 4.65 lakh equity shares (equal to 1.02% of paid-up equity) in the real estate developer at an average price of ₹582 per share. However, investor Kausalya Realserve LLP sold 7 lakh equity shares in the firm at an average price of ₹582.02 per share, while its stake in the company as of December 2023 was 6.29%, or 28.5 lakh shares.

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