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Wednesday 11 November 2020

Stocks To Watch

 NMDC: Announces share buyback worth Rs 1,378 crore. Board to buyback 13.12 crore shares or 4.29% of total equity. Buyback price of Rs 105 per share is a premium of 11.7% to Tuesday's closing. Record date for the buyback set as November 23.

Wipro: Wins five-year software engineering services engagement from ThoughtSpot.

Mayur Uniquoters: Board approves buyback of 7.5 lakh shares or 1.65% of the total equity. Buyback price of Rs 400 per share is a 56.5% premium to Tuesday's closing price. The total consideration for the buyback will be Rs 30 crore. November 25 fixed as the record date for the buyback.

Tata Power: Repaid total debt worth Rs 2,600 crore in October and Rs 1,500 crore is under pre-payment notice for November. Total Gross Debt down 14% to Rs 17,300 crore as on September 30, on a sequential basis. Sale of Defence business to Tata Advanced Systems completed at an enterprise value of Rs 1,076 crore.

TTK Prestige: Successfully concluded a long-term settlement covering all its workmen at the company’s Coimbatore unit.

GPT Infra: Received Rs 30.2 crore order for making a bridge over the Yamuna river from the government.

Varroc Engineering, Endurance Tech: Naresh Chandra has resigned as Chairman and Director of company from November 10 due to personal reasons. Current Managing Director Tarang Jain will become the chairman of Varroc Engineering.

JB Chemicals & Pharma: Statutory auditors DNV & Co. Chartered Accountants have resigned. The company is keen on auditors who have more acceptability among institutional investors and those who have the resources to assign across geographies in which the company and its direct & indirect subsidiaries function so as to have time and cost efficiency. There are no other reasons for the resignation. Deloitte Haskins & Sells LLP appointed as new statutory auditors.


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