Summary:
For Sep 18, stocks to watch include Bharat Forge, BEL, Petronet LNG, Wipro and PB Fintech following key corporate developments. Fundraising, defence orders, renewable energy projects, airline charges, infrastructure orders, management appointments and strategic partnerships are driving investor attention across these companies.
Several stocks are likely to remain in focus on Friday following corporate developments ranging from fundraising and new orders to strategic partnerships and management-related updates. Bharat Forge, Bharat Electronics, Petronet LNG, GPT Infraprojects, Federal Bank, Wipro, NLC India, PTC India, InterGlobe Aviation and PB Fintech are among the key names to watch.
Bharat Forge
Bharat Forge has launched its qualified institutional placement (QIP) to raise funds from institutional investors. The company has fixed a floor price of ₹1,947.70 per share and may offer a discount of up to 5% on the floor price.
According to reports, the QIP size could be around ₹2,000 crore. The fundraising could provide additional capital to the company for its business and strategic requirements, while the issue price and final proceeds will be important factors for investors to track.
InterGlobe Aviation
InterGlobe Aviation, which operates IndiGo, has revised several passenger service charges. The airline has increased the excess baggage fee to ₹800 per additional kilogram from ₹700 per kg.
The cost of booking an infant ticket has also increased to ₹3,000 from ₹2,000. Meanwhile, the Fast Forward priority service, which offers priority check-in and boarding, will now cost ₹650 compared with ₹500 earlier.
Petronet LNG
Petronet LNG has approved a proposal to establish a 50:50 joint venture with Gruner Renewable Energy. The proposed JV will establish 10 compressed biogas (CBG) plants across India.
Each plant will have a capacity of 18 MT per day, while the total estimated capital outlay for the project is ₹1,200 crore. The move expands Petronet LNG's involvement in the emerging renewable and alternative-energy segment.
Bharat Electronics
Bharat Electronics has secured additional orders worth ₹648 crore since August 26. The orders cover a diverse range of products and services, including laser-based IR jammers, communication equipment, cybersecurity solutions, thermal imagers, transducers, AI-based software solutions, TR modules, upgrades, spares and services.
The latest order inflow adds to the company's order book visibility and keeps the defence electronics major in focus.
GPT Infraprojects and Federal Bank
GPT Infraprojects has received a ₹483.72 crore order from Rail Vikas Nigam for railway bridge construction. The order adds to the company's infrastructure project pipeline.
Federal Bank, meanwhile, has received board approval to establish a medium-term note programme of up to $500 million. The programme provides a framework for raising funds through debt instruments, subject to applicable conditions.
PTC India and NLC India
PTC India and NLC India Renewables have incorporated NIRL PTC Renewables as a joint venture. PTC India will hold a 26% stake, while NLC India Renewables will own the remaining 74%.
The JV will collaborate and explore opportunities, including the development of green energy projects. Separately, the government has approved Prasanna Kumar Acharya's appointment as CMD of NLC India for five years, effective September 17.
Wipro and PB Fintech
Wipro has launched Wipro STO360 in collaboration with Aramco and SAP. The solution is designed to help asset-intensive organisations modernise and manage shutdown, turnaround and outage activities.
PB Fintech also remains in focus after the company denied market speculation about Yashish Dahiya stepping down. The company stated that the speculation was false and baseless, confirming that Dahiya continues as Chairman, Executive Director and Group CEO.
