New Delhi: The shares of Kronox Lab Sciences, Reliance Power, Vodafone Idea, RVNL, ONGC and GAIL are expected to remain in focus on June 11, 2024, i.e. Tuesday.
Kronox Lab Sciences
Kronox Lab Sciences shares made their market debut on Monday and ended the day with a premium of nearly 18 per cent against the issue price of Rs 136. The Kronox Lab Sciences IPO was subscribed 117.25 times on the closing day of bidding. The price range was fixed at Rs 129-136 a share.
Reliance Power
Anil Ambani-led Reliance Power has become a debt-free company on a standalone basis, reports said. The sources informed that the company cleared all its debt of around Rs 800 crore.
In order to clear all its debts, Reliance Power had signed multiple debt settlement agreements with various banks, including IDBI Bank, ICICI Bank, Axis Bank and DBS.
To clear its dues, Reliance Power sold the development rights of its proposed 1,200 megawatt hydro-electric project in Arunachal Pradesh to THDC for Rs 128 crore and also sold its 45 MW wind energy project in Vashpet, Maharashtra to JSW Renewable Energy for a consideration of Rs 132 crore.
Vodafone Idea
Vodafone Idea has announced that its board will be meeting on June 13 to consider a proposal to issue equity shares or convertible securities on a preferential basis to vendors.
RVNL
Rail Vikas Nigam Limited (RVNL) is all set to get the project to work in the Amla-Nagpur Section in the Nagpur division of Central Railway as it has turned out to be the lowest bidder. Also, a consortium of Siemens and the Railway PSU has sealed a contract worth Rs 394 crore from Bangalore Metro Rail Corporation Ltd (BMRC).
ONGC
Jefferies has yet again advised investors to pump in money into the shares of ONGC. Giving a Buy rating, the firm suggested a target price of Rs 390. “Recent correction in stock appears overdone, and provides an attractive entry point for investors. Ramp-up in KG basin production in 3QFY25 and accretion to profitability are key triggers,” the brokerage firm said.
GAIL
Giving a Buy rating on GAIL, Morgan Stanley recommended the target price to be set at Rs Rs 250. GAIL (India) Limited is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG re-gasification, petrochemicals, city gas, E&P, etc.
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Stocks to watch today: The stocks of Vodafone Idea, RVNL, ONGC, GAIL, Reliance Power, Kronox Lab Sciences are expected to remain in news on Tuesday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
