Top 5 Stocks to watch out for
Craftsman Automation:
Craftsman Automation has initiated a Qualified Institutional Placement (QIP) to raise Rs 1,200 crore at a floor price of Rs 4,400 per share, reflecting a discount of 7.7% to Tuesday’s closing price of Rs 4,776.35 per share.
Zee Entertainment:
Rohit Kumar Gupta has resigned from the position of Chief Financial Officer a Key Managerial Personnel of the company due to personal reasons.
In line with the resource optimization approach, Mukund Galgali, who has been with the company for more than 17 years and currently spearheading the Commercial & Strategic Initiatives will assume the role of an acting Chief Financial Officer.
The board of the company has approved the promotion of Galgali, who is with the group for over 17 years and currently spearheading the Commercial & Strategic Initiatives of the company.
The change would be effective from June 19, 2024. Recently, there have been resignations at the top level from the media & entertainment firm ZEEL. Last week, ZEEL HR & Transformation Animesh Kumar resigned from the company to pursue interests outside the organisation. In April, the company's president of content and international markets Punit Misra quit. Earlier, in March this year Rahul Johri who was President of business and heading revenue and monetisation, resigned after a stint of over three years.
Tata Technologies:
Tata Technologies collaborates with Microsoft and Tata Motors to drive innovation with the InnoVent hackathon for engineering students, focused on Generative AI.
Indus Tower:
According to media reports, Vodafone Group Plc, one of the promoter entities of Vodafone Idea Ltd, is likely to sell up to 9.94% equity via block deals in Indus Towers with the price band fixed between Rs 310-341 per share, reflecting a discount of up to 10%, compared to Tuesday's closing price of Rs 343.90 per share.
According to the said price band, this transaction would be valued between Rs 8,308 crore and Rs 9,138 crore. At the end of the March 2024 quarter, Vodafone Plc had a 21.05% stake in Indus Towers. At the current market price, the entire stake could be valued at Rs 19,300 crore. Brokerage firm UBS wrote in a note that in case a deal does take place, it is highly likely that the proceeds will be infused into Vodafone Idea. It cited the Vodafone Idea rights issue in 2019, through which the company had raised Rs 25,000 crore and in which, Vodafone had subscribed to shares worth Rs 11,000 crore. To fund this, Vodafone had pledged its stake in Indus Towers.
Quick Heal:
On 18th June 2024, Quick Heal Technologies promoter Kailash Sahebrao Katkar sold shares worth Rs 284 crore to Anupama Kailash Katkar.
According to block deal data on the BSE, Kailash Sahebrao Katkar sold 58.17 lakh shares, representing 10.95% stake at Rs 489 per share.