Buzzing: IRB Infra block deal, Vi Board meet, RVNL, Raymond order win

Buzzing: IRB Infra block deal, Vi Board meet, RVNL, Raymond order win

IRB Infrastructure Developers

Stocks to Watch, Tuesday, June 11, 2024: Stock-specific news, and trends from global markets ahead of the US Federal Reserve’s interest rate decision tomorrow may dominate the trading session on Tuesday. At 7:55 AM, GIFT Nifty was up 29 points at 23,276 levels.

On Monday, the BSE Sensex ended 203 points, or 0.27 per cent, lower at 76,490, while the Nifty50 ended at 31, down 0.13 points or 23,259 per cent. With this, the benchmarks snapped their three-day winning run on the bourses.

Sensex hit a record high of 77,079 earlier in the day, topping the 77,000-mark for the first time. The Nifty50, too, touched a new peak of 23,412, surpassing the 23,400-mark for the first time ever on Monday. 

Here’s a list of stocks to watch on Tuesday, June 11:

IRB Infrastructure Developers: Cintra, a subsidiary of Dutch headquartered infrastructure major Ferrovial, will likely sell around 5 per cent stake in IRB Infra on Tuesday. According to reports, it aims to raise around $228 million via the block deal, which has fixed the floor price around Rs 63 apiece — 10 per cent lower than the closing price of IRB Infra on June 10 (Rs 70.15 per share).

Vodafone Idea: The Board of Directors of the telecom company will meet on Thursday, June 13, to decide on a proposal to issue equity shares or convertible securities on a preferential basis to vendors, the company said in an exchange filing.

Raymond: Raymond Realty, the real estate arm of Raymond Group, has been selected for the redevelopment of residential project – MIG VI CHS Ltd situated in Bandra East, Mumbai. It is estimated to generate a revenue of more than Rs 2,000 crore over the project period.

Previously, Raymond Realty had signed three joint development agreements for projects in Mahim, Sion, and Bandra with an estimated development value of over Rs 5,000 crore.

Mphasis: The 15-per cent stake sold by Blackstone, at an average price of Rs 2,363.37 per share through bulk deals on Monday, was picked by Kotak Mahindra Mutual Fund, along with Morgan Stanley, and Societe Generale. The trio bought shares worth Rs 1,900 crore at an average price of Rs 2,363 per piece.

RVNL: Rail Vikas Nigam Limited (RVNL) has emerged as the Lowest Bidder (L1) from Central Railway for ‘OHE modification work for up-gradation of existing 1 x 25 kV electric traction system to 2 x 25 kV AT feeding system’ in the Nagpur division of Central Railway to meet 3,000 Mt loading target. The project is worth Rs 138.45 crore.

Jubilant FoodWorks: Domino’s, a franchise of Jubilant FoodWorks, opened its 2000th store in the country on Monday, making it the first QSR chain in India to cross this mark. The management expects to add 180 stores of Domino’s in the current financial year.

First Published: Jun 11 2024 | 8:07 AM IST

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