Top 10 stocks for today – 5th December 2023

5 Dec 2023 , 08:44 AM

Mahindra & Mahindra Financial Services: In November, the non-banking financing organisation anticipated total disbursements at over Rs. 5,300 crore, representing a 16% increase over the previous year. The payouts for April-November 2023, at almost Rs 36,000 crore, increased by 16% year-on-year.

JSW Infrastructure: The business said that its subsidiary, JSW Dharamtar, has agreed into a share purchase agreement with SP Port Maintenance, a Shapoorji Pallonji group company, to buy 50% plus one share of PNP Maritime Services for Rs 270 crore. PNP Port operates multi-purpose jetties in Shahabad, Maharashtra.

HCL Technologies: HCL Investments UK, the step-down wholly owned subsidiary of HCL Technologies, has signed a Memorandum of Understanding with its joint venture (JV) partner, State Street International Holdings, for the sale of the JV’s entire 49% equity stake to State Street for $170 million + net book value.

Honasa Consumer: On December 5, Fireside Ventures will sell 61 lakh shares of Honasa Consumer, the parent company of beauty and personal care goods brand Mamaearth, in a block sale. This represents a 1.9% stake in the firm worth more than Rs 230 crore at the time of writing.

Max Financial Services: Analjit Singh, Chairman of Max Life Insurance Company, the company’s subsidiary, has stepped down from the chairmanship and membership on the Max Life board of directors, effective December 4. Rajiv Anand, a Max Life non-executive director nominated by Axis Bank, has been named chairman of Max Life, effective December 5.

DCB Bank: Aga Khan Fund for Economic Development (AKFED), the bank’s promoter organisation, has shown interest in investing up to $10 million by subscribing to additional equity shares. The bank’s board of directors will meet on December 8 to discuss the aforementioned proposal.

Quess Corp: To improve skill development and employability, the business services provider has signed a Memorandum of Understanding (MoU) with the National Skill Development Corporation (NSDC), the top skill development organisation under the Ministry of Skill Development and Entrepreneurship (MSDE).

MOIL: The mini-ratna state-owned manganese-ore mining business reported manganese ore output of 1.62 lakh metric tonnes in November, up 35% over the previous year. Manganese ore output grew 43% year-on-year to 10.9 lakh metric tonnes between April and November of FY24.

Bank of India: This week, the public sector lender is expected to undertake a qualified institutional placement (QIP) offering in the region of Rs 3,500-4,000 crore. The basic offering amount might be between Rs 2,000 and Rs 2,500 crore, with a greenshoe option of Rs 1,500 crore.

Computer Age Management Services: Great Terrain Investment exited CAMS, the mutual fund transfer agent, by selling its whole investment of 97.59 lakh equity shares in the firm through open market transactions at an average price of Rs 2,766.47 per share, valuing the position at Rs 2,700 crore.

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