It’s often seen in the stock market that corporate announcements made after the end of the trading session influence investor decisions the following day. On Thursday, several companies announced decisions and deals that could have an impact on Friday’s trading.
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Promoter Stake Sale in Ola Electric
Ola Electric Mobility promoter Bhavish Aggarwal has once again sold a large number of shares through a bulk deal. This is the third consecutive session in which the promoter has reduced his stake. According to exchange data, over 28.3 million shares were sold at a price of approximately ₹31.60 per share, representing a transaction value of approximately ₹90 crore. Such sales could put pressure on the stock in the short term.
Swiggy, Waaree Energies, and other stocks enter F&O trading
Friday could be a special day for shares of Swiggy, Waaree Energies, Premier Energies, and Bajaj Holdings & Investments. NSE has announced that these companies will be included in the futures and options segment from December 31st. Inclusion in F&O is expected to increase liquidity and trading activity in these stocks.
Bharat Petroleum and Coal India Joint Venture
Bharat Petroleum Corporation has approved the formation of a joint venture with Coal India for a coal gasification project in Maharashtra. The project will be set up in the Western Coalfields, and necessary regulatory approvals will be obtained. This move is considered significant towards alternative fuels and sustainable solutions in the energy sector.
HCL Tech’s Strategic Acquisition
IT sector major HCL Tech has signed an agreement to acquire Hewlett Packard Enterprise’s telecom solutions business. This deal is expected to expand HCL’s telecom services capabilities and global presence, which could impact the company’s revenue in the long term.
Bharti Airtel Call Money Announcement
Bharti Airtel’s board has approved the first and final call on its partially paid equity shares. The company has fixed the price at ₹401.25 per share, including premium. This decision is being seen as a way to strengthen the company’s capital structure.
Shriram Finance’s Capital Raising Plans
Shriram Finance has announced that its board will meet on Friday to consider capital raising options through a stake sale. This news could boost stock activity.
Vodafone Idea’s Major Fundraising Move
VITIL, a subsidiary of Vodafone Idea, has issued secured non-convertible debentures to raise ₹3,300 crore. This funding is considered crucial for the company’s network and operational needs.
Reliance Consumer Products Expansion
Reliance Industries’ FMCG unit has acquired a controlling stake in Udhayam Agro Foods. With this, Udhayam, a popular nutrition brand from Tamil Nadu, is now part of Reliance’s portfolio.
Tax Order on Aditya Birla Fashion
Aditya Birla Fashion and Retail has received a tax demand order from the Mumbai State Tax Department. This order was passed after the completion of the audit process, which could impact the company’s financial position.
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Lupin’s International Licensing Deal
Pharmaceutical company Lupin, through its subsidiaries in the Philippines and Brazil, has signed an agreement with Neopharmed Gentili of Italy. Under this agreement, gastroenterology brand Plasil will be marketed in these countries.