Stocks to Watch: Check out the companies making headlines before the opening bell today, June 13.
HFCL
The company that specialises in digital network solutions has been awarded a contract with the Delhi Metro Rail Corporation (DMRC) that is worth 80.92 crore rupees. A fibre optic transmission system (FOTS) will be installed by the business along all three priority corridors of Phase IV of the Delhi Metro Rail Project. It is anticipated that the order will be carried out within 156 weeks of the day on which the notice to proceed was issued. After then, the firm is obligated to provide support for the product’s warranty for 104 weeks.
The Cotton Greaves
Greaves Cotton’s e-mobility division, which operates under the name Greaves Electric Mobility, has collaborated with Bike Bazaar Finance on a new partnership. Bike Bazaar Finance will provide financing for Greaves Electric Mobility’s ELE-branded L3 electric cars in accordance with the terms of the agreement. This cooperation will first take effect in the states of UP and Bihar, with the intention of expanding to include the whole of India in the not too distant future.
Hero MotoCorp
The new Passion+ was introduced by the company that is the most successful producer of motorcycles and scooters in the world. The brand new Passion+ can be purchased from dealerships located all around the nation for the price of Rs 76,301 (ex-showroom in Delhi).
The Inox Wind
The producer of wind energy solutions announced that the merger of Inox Wind Energy with the firm has received approval from the board of directors. The merger is contingent on the successful completion of a number of regulatory clearances and compliances. The first of July in 2023 has been decided upon as the day for the merger to take place. Inox Wind will issue 158 of its own equity shares to shareholders of Inox Wind Energy for every 10 of those shareholders’ own equity shares. In addition, Inox Wind will issue 158 share warrants with an issue price of Rs 54 each to shareholders of Inox Wind Energy for every 10 share warrants with an issue price of Rs 847 each that those shareholders currently hold. This is all in accordance with the proposed merger.
JSW Steel
According to the Directorate of Mines and Geology of Goa, the business has been selected as a preferred bidder for the purpose of obtaining a mining lease for the iron ore mineral in both of Goa’s blocks. In North Goa, there are two blocks known as the VI-Cudnem-Cormolem Mineral Block and the IX-Surla-Sonshi Mineral Block. Each of these blocks has a predicted quantity of iron ore resources that is either 9.77 MMT or 65.73 MMT.
