Stocks to watch out for on December 27: RBL Bank, Larsen & Toubro, Gland Pharma, RedTape, Swiggy, PG Electroplast, Jubilant Foodworks, Power Mech and others have announced key developments and disclosures for investors and to meet regulatory compliances. Here’s the list of a few such stocks
Gland Pharma: French drug regulator, the Agence Nationale de Sécurité du Médicament et des Produits de Santé (ANSM) conducted a GMP inspection at Cenexi’s Fontenay Manufacturing Facility (a material subsidiary of Gland Pharma Ltd) from December 9 to 19, 2024. The inspection concluded with 10 observations, and the facility received an official notification on December 24, 2024. Meanwhile, Geojit BNP Paribas has retained its ‘Buy’ rating on Glenmark Pharma, projecting a 13.6% revenue CAGR over FY25-26.
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RedTape: The shoe manufacturer, has announced it will issue bonus shares and pay a dividend to its shareholders. During its board meeting on Thursday, December 26, the company declared an interim dividend of ₹2 per share. The record date for this dividend is set for January 3, 2025. Additionally, RedTape will issue bonus shares in a 3:1 ratio, meaning shareholders will receive three bonus shares for every one share they already own, with the record date for this yet to be confirmed. This is the first time the company has declared both a dividend and a bonus issue.
PG Electroplast: The comprehensive provider of electronic manufacturing services (EMS) is targeting a compound annual growth rate (CAGR) of 35-40% over the next three to four years, with plans to double its revenue while maintaining margins at 7.5-8%. The Greater Noida-based company will also consider revising its 2024-25 (FY25) revenue guidance upward from the current target of ₹4,250 crore with the third quarter tracking well so far, said Managing Director Vikas Gupta.
Jubilant FoodWorks: The owner of the Domino’s franchise in India has entered into a Memorandum of Understanding (MoU) with Coca-Cola India to enhance its beverage portfolio. Jubilant FoodWorks will acquire a range of sparkling beverage products and other selected products from the Coca-Cola Company as part of the agreement. Additionally, the company has signed an agreement to conduct marketing activities for these products in India.
Swiggy: Rohit Kapoor, CEO of Swiggy’s Food Marketplace, highlights that Bolt’s quick delivery service stands out from other 10-minute delivery options due to its higher store density and optimised delivery radius. Currently, Bolt contributes to 7-8% of Swiggy’s total orders. Bolt focuses on delivering fast-to-prepare meals from popular restaurants and quick-service restaurants (QSRs) within 10 minutes or less, setting new standards for speed and efficiency in food delivery.
RBL Bank: The lender has divested its entire 8.16% stake in DAM Capital Advisors through an offer for sale (OFS) during the latter’s initial public offering (IPO), which was open from December 19-23, 2024. The sale, amounting to ₹163.32 crore, was disclosed in an exchange filing by the bank. The lender sold 57.71 lakh equity shares with a face value of ₹2 each, representing its 8.16% shareholding in the investment bank. Following this transaction, RBL Bank no longer holds any equity stake in DAM Capital.
Larsen & Toubro (L&T): Domestic brokerage Sharekhan has raised the target on the construction major to ₹4,550 apiece, a 25.4% from the current market price of ₹3,645 per share. ‘We maintain BUY on L&T with a PT of ₹4,550, given strong execution and margin tailwinds and improving return rations in the capex upcycle,’ the research note said.
Power Mech: The company has bagged order worth ₹186 crore from Jaiprakash Power Ventures. This order entails providing Field Operation and Maintenance services for the 2 x 660MW Jaypee Nigrie Super Thermal Power Plant located in Nigrie, Madhya Pradesh, over a five-year period starting from January 1, 2025, to December 31, 2029.
IndiGo: The airline has informed exchanges regarding a ₹2 lakh penalty imposed by the Bureau of Immigration, Ministry of Home Affairs, Government of India, on December 13, 2024, for visa-related violations concerning two passengers. The company also explained the delay in disclosure, stating it was exploring options for filing an appeal against the order.
NHPC: The company has announced that the Subansiri Lower Hydroelectric Project, located on the Arunachal Pradesh/Assam border, is on track to complete 3 units of 250 MW each by May 2025. The full completion of all 5 units (250 MW each) is expected by May 2026. In addition, NHPC has revised the loss estimate for the Teesta-V Power Station (510 MW) in Sikkim to ₹1,076 crore. The company has also received ₹150 crore as compensation for material damage at the Teesta-V Power Station. Image source: Shutterstock
First Published: Dec 26, 2024 7:20 PM IST
