Summary:
Several stocks are expected to remain in focus on Thursday after announcing major business developments, contract wins, management changes, and corporate actions. Here are the key stocks to watch:
Rail Vikas Nigam Limited
RVNL has been successful in bagging an important infrastructure deal by securing a Letter of Acceptance (LoA) from East Coast Railway for constructing bridges on EPC basis for Third and Fourth Railway lines from Nergundi-Barang to Khurda Road-Vizianagaram on Bhadrak-Vizianagaram Section.
The aggregate cost of the deal is around ₹967.92 crore. This deal will boost the backlog of the company, further establishing RVNL among the top players in railway infrastructure development in the country. Investors might be keen on following the progress of the company since railway deals generally offer visibility on earnings over the long term.
HFCL Limited
HFCL, a producer of telecom products, has secured a large contract valued at ₹2,666.09 crore from RVNL to provide support in the BharatNet Phase-III project in Uttar Pradesh.
As per the agreement, HFCL is expected to provide telecom equipment and related items, lay down a telecom network based on optical fiber cables, and maintain the network for 10 years.
This project will help in the further development of telecom infrastructure services offered by HFCL, while the aspect of maintenance of the network for 10 years will ensure recurring revenue generation for the company.
Bosch Home Comfort India Limited
It is quite possible that the pressure is likely to persist for Bosch Home Comfort India after its promoter, Bosch Global Software Technologies, decided to sell stakes via an Offer for Sale (OFS).
The OFS by the promoters, which will take place on June 18 and June 19, involves the sale of up to 21.7 lakh shares, equivalent to a 7.97% stake in the company, together with the greenshoe option of 0.75%.
The minimum price set for the sale has been ₹1,150 per share.
Lemon Tree Hotels Limited
Lemon Tree Hotels has increased its presence in Rajasthan with the establishment of a new hotel in Sri Ganganagar.
With this latest addition, the company now operates 23 hotels in Rajasthan, thus adding weightage to their growing presence in one of India's important tourism destinations. This hotel will be run by Carnation Hotels, which is a part of Lemon Tree Hotels Group.
Increasing hotel chain helps the company grow and may help them in earning future revenues from travelers who visit India for vacations.
Balkrishna Industries Limited
A significant managerial change is reported at the financial management level of tire manufacturing company Balkrishna Industries.
The board of directors has chosen Saroj Kumar Khuntia to be the new Chief Financial Officer (CFO). This is effective from June 18, succeeding Madhusudan Bajaj as he is no more the CFO and Key Management Personnel as he reached the superannuation age.
It has been observed that while this may not have much operational impact on the firm, such managerial decisions are of great importance to investors.
Lupin Limited
The pharmaceutical giant Lupin has declared the introduction of its new Azilsartan Medoxomil Tablets 40 mg & 80 mg formulations, approved by the US Food and Drug Administration (US FDA), in the US market.
This is a generic form of the drug Edarbi that is used for the treatment of hypertension among adults. Significantly, it may be noted that the pharmaceutical major Lupin has exclusive right over the filing and marketing of this product, which will allow it to have a 180-day exclusivity in the US market.
This would provide the company an edge to garner greater market share through higher sales and revenue, thus making it an interesting stock to watch today.
