Stocks that will see action today May 10

Gold ETFs: Gold exchange traded funds will remain in focus, as investors will buy paper gold on the auspicious occasion of Akshaya Tritiya.

Gold ETFs: Gold exchange traded funds will remain in focus, as investors will buy paper gold on the auspicious occasion of Akshaya Tritiya.

Shareholders of Vodafone Idea have approved a proposal to raise its authorised share capital to ₹1-lakh crore and issue equity shares on a preferential basis to promoter group firm Oriana Investments, a regulatory filing said on Thursday. According to the scrutiniser report of the extraordinary general meeting (EGM) held on May 8, all special resolutions have been approved by the majority of the shareholders, with a minuscule percentage of voters opposing them.

Sunil Bharti Mittal-promoted Bharti Enterprises on Thursday offloaded shares of ICICI Lombard General Insurance Company for ₹663 crore through open market transactions. Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Singapore and Blackstone Aqua Master Sub-Fund acquired shares of Mumbai-based general insurer. Bharti Enterprises Ltd sold 38.50 lakh shares, amounting to a 0.8 per cent stake in ICICI Lombard through nine separate block deals on the BSE.

BLS International Services has signed a contract with the Embassy of Portugal in Morocco for visa outsourcing services in Rabat and Casablanca, with an expansion plan to open a few more centres in the coming months.

Tata Steel has acquired 18,73,493 equity shares of ₹10 each at an issue price of ₹427.01 a share of The Indian Steel & Wire Products Ltd, a subsidiary company, on preferential basis, for an aggregate amount of about ₹80 crore. Upon completion of the transaction, the aggregate equity stake of the company has increased to 98.61 per cent.

Adani Global Ltd Mauritius, a wholly-owned subsidiary of Adani Enterprises, has executed a share purchase and shareholders’ agreement pursuant to which Adani Global has acquired 49 per cent stake in the UAE-based Sirius Digitech Ltd from Sirius International Holding Ltd.

JMK Holdings Private Ltd, a wholly-owned subsidiary of Signature Global, executed a sale deed on Thursday to purchase land admeasuring approximately 5.94 acres in Harsaru, Gurugram. The land has an overall potential developable area of approximate 90,000 square feet.

Route Mobile, a global player in communications platform as a Service (CPaaS), has now become part of the Proximus Group, a provider of digital services and communication solutions operating in Belgium and international markets, through a strategic acquisition by the latter. In July 2023, Proximus Group signed a definitive agreement with the founding shareholders of Route Mobile to acquire 57.56 per cent of Route Mobile through Proximus Opal2 for ₹5,924.40 crore (EUR 643.0 million) cash consideration, which corresponds to a price per share of ₹1,626.404. Some of the founding shareholders of Route Mobile subsequently committed to reinvest EUR 299.6 million in Proximus Opal, resulting in a stake of 12.72 per cent, expected to be completed in the next few weeks.

The board of Solara Active Pharma Sciences has approved a ₹450-crore rights issue at a price of ₹375 a share, which is a 25% discount to Thursday’s closing price. Shareholders will be entitled to receive one equity share for every three held as of the record date of May 15. The issue will initially be partly paid, tentatively in June 2024, followed by two calls in April 2025 and 2026. Promoters have committed to subscribe to their portion of the entitlement. The issue will open on May 28 and close on June 11.

Brigade Enterprises said the group will develop a residential project on Old Madras Road, Bengaluru, with a gross development value of ₹660 crore.

Life Insurance Corporation of India has filed an appeal before the Commissioner of Commercial Taxes (Appeals), Jamshedpur, against the order issued by Additional Commissioner, Central GST & Central Excise, Jamshedpur. The appeal filed is against an order demanding GST of ₹161.62 crore for FY 2018-19 & 2019-20, along with interest as applicable and penalty of ₹16.16 crore.

Results calendar: Aarti Industries Ltd, ABB India Limited, Ami Organics Ltd., Artemis Medicare Services Ltd., Ashirwad Capital Ltd., Bajaj Hindusthan Sugar Limited, Bank of Baroda, Bank of India, Birla Cable Ltd., Cholamandalam Financial Holdings Ltd., Cipla Ltd., Dilip Buildcon Ltd., Eicher Motors Ltd., Fine Organic Industries Ltd., Finolex Industries Ltd., Great Eastern Shipping Co. Ltd., ISMT Ltd., Jupiter Life Line Hospitals Ltd., Kalyan Jewellers India Ltd., Kalyani Steels Ltd., Dr. Lal Pathlabs Ltd., Coated Metals & Industries Ltd., Menon Bearings Ltd., Novartis India Ltd., Nuvama Wealth Management Ltd., Polycab India Ltd., Piramal Pharma Ltd., Punjab & Sind Bank, Remedium Lifecare Ltd., Repro India Ltd., Rose Merc. Ltd., Sagarsoft (India) Ltd., Sangam (India) Ltd., Sapphire Foods India Ltd., Sarla Performance Fibers Ltd., Satchmo Holdings Ltd., Sharda Cropchem Ltd., Shreyans Industries Ltd., Shri Niwas Leasing And Finance Ltd., SuvidhaInfraestate Corporation Limited, Sil Investments Ltd., Shantidoot Infra Services Ltd., Softbpo Global Services Ltd., Spencers Retail Ltd., STEL Holdings Ltd., Sterling Tools Ltd., Subex Ltd., Sundaram-Clayton Ltd., Suraj Ltd., Syrma SGS Technology Ltd., Systematix Corporate Services Ltd., Tata Motors Ltd., Tata Motors Ltd – DVR, TCI Express Ltd., The Investment Trust Of India Ltd., Thermax Ltd., Transcorp International Ltd., Union Bank Of India, Venky’s (India) Ltd., V.I.P. Industries Ltd., Waaree Renewable Technologies Ltd.

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