Stocks to Watch: SEPC, InterGlobe Aviation, Coal India, GR Infraprojects, GSP Crop Science, Bluspring Enterprises, Brand Concepts Among Key Movers on March 24

Stock Market Update

InterGlobe Aviation

• Aloke Singh has been appointed as Chief Strategy Officer, effective April 6.
• Previously, Aloke Singh served as Managing Director and Chief Executive Officer of Air India Express.

Coal India

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• The board has approved:
  • Divestment of up to 25% stake in South Eastern Coalfields through an Offer for Sale (OFS).
  • Issuance of fresh equity shares aggregating up to a 10% stake in one or more tranches via an Initial Public Offering (IPO).
  • Divestment of up to a 25% stake in Mahanadi Coalfields through an OFS in one or more tranches via an IPO and/or other permissible market routes.
  • A 100% corporate guarantee to CIL Rajasthan Akshay Urja (CRAUL) for debt of up to Rs 3,160 crore to fund the capital expenditure of CRAUL's 875 MW solar PV plant.

SEPC

• The board has approved the acquisition of a 90% stake in Avenir International Engineers and Consultants LLC, Abu Dhabi, for Rs 1,530 crore.

GR Infraprojects

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• The company has received an order worth Rs 2,440.87 crore from NHAI for the construction of a greenfield section of NH-33 in Bihar.

Persistent Systems

• Ruchi Kulhari has been appointed as Executive Vice President (EVP), Chief of Staff, and Senior Management Personnel (SMP), effective March 23.

Indian Railway Finance Corporation

• The company has signed a major rupee term loan agreement with Hindustan Urvarak and Rasayan (HURL) for the refinancing of its existing long-term debt of up to Rs 12,842 crore.

GNG Electronics

• The company has entered into:
  • A supplemental and amendatory agreement dated March 10 to its facility agreement with ICICI Bank, enhancing the overall limits from Rs 40 crore to Rs 72 crore.
  • An addendum dated February 23 to the principal working capital facility agreement with Axis Bank, enhancing the existing credit facilities from Rs 44 crore to Rs 65 crore.

Dredging Corporation of India

• The board has approved the appointment of Captain S Divakar as Managing Director and Chief Executive Officer (Additional Director – Executive and Non-Independent) and Key Managerial Personnel (KMP) of the company.

Wipro

• The company has announced the expansion of its business operations in South Korea with the launch of a new Innovation Lab as part of the Wipro Innovation Network (WIN).

Bulk Deals

• Ashish Dhawan has purchased 17 lakh shares (equivalent to a 1.14% stake) in Bluspring Enterprises at Rs 45.55 per share, amounting to Rs 7.74 crore.
• Ashish Kacholia has exited Brand Concepts by selling his entire holding of 1.79 lakh shares (1.44% stake) to Suryavanshi Commotrade for Rs 3.9 crore.
• Craft Emerging Market Fund PCC, through Citadel Capital Fund and Elite Capital Fund, has acquired 5 lakh shares in Innovision for Rs 23.38 crore.
• Neomile Growth Fund-Series I and Neomile Corporate Advisory purchased 14.5 lakh shares for Rs 67.81 crore.
• Astorne Capital VCC Arven acquired 8.5 lakh shares for Rs 39.75 crore, while Beacon Stone Capital bought 4.5 lakh shares for Rs 21.04 crore.

Mainboard Listing

• GSP Crop Science
• Raajmarg Infra Investment Trust

Stocks Trade Ex-Bonus

• Kilitch Drugs India
• Times Green Energy (India)

Stocks in F&O ban

• SAIL
• Sammaan Capital