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Top buzzing stocks, June 14: Ambuja, Defence, Suven Pharma, Zaggle, Nalco

Stocks to Watch today, Friday, June 14: Ambuja Cements will acquire Hyderabad-based Penna Cement Industries Ltd (PCIL) at an enterprise value of Rs 10,422 crore

Ambuja Cements

Nikita Vashisht New Delhi

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Stocks to Watch, Friday, June 14, 2024: Amid a trigger-less session, domestic markets may remain stock-specific ahead of a long weekend. Equity markets are closed on Monday on account of Bakri-Id holiday.

Meanwhile, India's WPI inflation data, and Bank of Japan's interest rate decision are the only key factors for the day.

At 7:55 AM, GIFT Nifty futures were up 18 points at 23,417 level.

Here is a list of stocks to keep on radar on Friday, June 14:

Ambuja Cements: Ambuja Cements has announced that it would acquire Hyderabad-based Penna Cement Industries Ltd (PCIL) at an enterprise value of Rs 10,422 crore. 

The acquisition, Ambuja Cements said, would add 14 million tonnes per annum (mtpa) to its capacity, taking the total capacity of Adani group's cement business (ACC-Ambuja consolidated) to 89 mtpa. The deal is expected to be closed in three to four months.

HAL, Bharat Dynamics: Defence stocks will be in focus on Friday after the Union Defence Minister Rajnath Singh said on Thursday that the defence ministry will further strengthen its domestic defense manufacturing capabilities and elevate defense exports to unprecedented levels.

Singh has set a target to generate military exports worth Rs 50,000 crore on an annual basis and has vowed to fast-track initiatives under 'Make in India' for defence production.

Suven Pharmaceuticals: Suven Pharmaceuticals has entered into a definitive agreement to acquire a controlling stake in Hyderabad-based contract research development organisation (CDMO) Sapala Organic for Rs 229.5 crore, in an all cash deal.

Suven said it would initially acquire a 67.5-per cent equity stake of Sapala subject to customary working capital and net debt adjustments, and the remaining stake a few months after FY2026-27.

Shipping Corporation of India (SCI): The Navratna CPSE has informed that it has been granted in-principle approval to form a wholly-owned subsidiary at GIFT City.

National Aluminium Company (Nalco): Nalco has executed a Mining Lease deed with the State Government of Odisha over an area of 697.979 hectares for Bauxite Mines in Pottangi Tehsil, Koraput District.

The mines has an annual production capacity of 3.5 million tonnes and has reserves estimated at 111 million tonnes, projecting a mine life of 32 years. 

Zaggle Prepaid Ocean Services: Zaggle has entered into an agreement with Skydo Technologies Private Limited to offer cross border payments capability to Zaggle's corporate customers.

From the aforementioned amount, the Trust has currently drawn around 50 per cent of the sanctioned amount and shall draw the balance amount in a phased manner, it said in an exchange filing.

Exxaro Tiles: The company has informed the exchanges that its Unit 1 i.e. Padra Plant will be closed for 3-4 weeks from June 14, 2024, owing to a planned regular maintenance schedule and associated equipment upgradation work.

Sterlite Technologies: As per the company's exchange filing, under the Agreement for supply of a turnkey solution [product and service] to DMC, DMC is claiming $2,748,225 as damages for losses incurred due to delays and failure to perform obligations under the Agreement.

STL, however, said it will defend this claim and will also raise counterclaims for the outstanding and overdue payments including Interest under the Agreement.

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First Published: Jun 14 2024 | 8:09 AM IST

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