Stocks to Watch: Sun Pharma, Apollo Tyres, Biocon, Vedanta

NHPC: It said the board will meet on 22 December to consider the monetisation of future cash flows of one or more of its power stations for a suitable tenure. This is a part of its plan to fund capex for FY24 and beyond.

Devyani International: Its subsidiary Devyani International DMCC, Dubai, has entered the quick/limited service restaurants market in Thailand by acquiring a controlling interest in Restaurants Development Co Ltd, Thailand.

Apollo Tyres: Warburg Pincus affiliate White Iris Investment may sell a 3% stake with an option to upsize, aiming to raise $100 million. The floor price is likely to be ₹440 a share, which is a 2% discount to Monday’s close.

Biocon: Its subsidiary Biocon Biologics has completed the transition of the acquired biosimilar business in around 120 countries a year ahead of schedule.

Vedanta: The mining and metals major has approved a second interim dividend of ₹11 a share for FY24. This total payout amounts to ₹4,089 crore.

KPI Green Energy: The company has launched a qualified institutional placement (QIP) to raise funds. The floor price is ₹1,245, a 9.19% discount to Monday’s closing price. The board will meet on 21 December to determine the issue price.

Kaynes Technology: The company has approved the launch of a QIP to raise funds. The floor price of ₹2,449 is a 6% discount to Monday’s closing price.

JTL Industries: The board has approved the issue of three crore preferential shares, worth ₹810 crore or ₹270 each, to the promoter entities. The board has also approved raising ₹500 crore via a QIP. It plans to invest ₹1,200 crore in its wholly owned subsidiary JTL Tubes and set up a project in Maharashtra.

IDFC First Bank: The bank has received approval from the Reserve Bank of India for a merger with IDFC.

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