Domestic equity benchmarks Sensex and Nifty50 advanced nearly 1 per cent during the week, buoyed by optimism over potential GST rationalisation and further lifted by a sovereign rating upgrade from S&P. In the week ahead, investors will keep a close watch on stock-specific developments and a slew of corporate actions lined up for the coming week.
Here are a few stocks that would be in focus next week:
Results next week: Esar India, Mufin Green Finance, Naga Dhunseri Group, Punjab Communications, Valecha Engineering, Praxis Home Retail, and Lotusdev Enterprises will post their quarterly results in the coming week, data compiled from BSE suggests.
Corporate actions: Vedanta Ltd, Zee Entertainment Enterprises Ltd, Gillette India Ltd, NBCC (India) Ltd, Whirlpool of India Ltd and IRB Infrastructure Developers Ltd are among dozens of stocks which would turn ex-dividend next week, BSE data showed.
Repco Home Finance: The housing finance stock will be in the spotlight next week, after market hours on Friday, the company told stock exchanges that its shareholders have approved a proposal to raise Rs 2,500 crore via non-convertible debentures (NCDs) and commercial papers (CPs) on a private placement basis.
UltraTech Cement: The company has pared its stake in subsidiary India Cements through an offer for sale (OFS). The Aditya Birla Group company offloaded 1.82 crore equity shares, representing 5.89 per cent of India Cements’ total paid-up equity capital. Following the transaction, UltraTech’s shareholding in the company has come down to 75.60 per cent, the company informed the exchanges.
GMR Power and Urban Infra: The company said its board has approved a proposal to raise up to Rs 3,000 crore through a mix of equity shares, non-convertible debentures with warrants, convertible securities, or foreign currency convertible bonds, in one or more tranches.
Adani Ports: Adani Ports and Special Economic Zone Ltd (APSEZ) on Saturday informed stock exchanges of a groundbreaking of its Rs 600 crore Adani Logistics Park in Kalamassery, Kochi, under the state’s Invest in Kerala initiative.
Techknowgreen Solutions: It has secured a work order worth Rs 4.74 crore, including GST, from Indran Logistics Park Pvt Ltd. Pertains to obtaining the conversion of Indran’s Khopoli-2 site from an Industrial Logistics Park (ILP) to an Integrated Industrial Area (IIA).
Lloyds Engineering: The company has appointed Alka Upadhyay and Ashok Tandon as Independent Directors for a five-year term, following shareholder approval at its 31st AGM.
JNK India: JNK India has secured an order valued up to Rs 50 crore from its promoter, JNK Global Co, Korea, for providing design and engineering support for the Cracker Furnace Package of a refinery project in India.