Stocks in Focus Today : Today i.e. on 28 May 2024, some stocks (stocks in news) are ready to show action. Due to positive triggers, these stocks can remain in focus in the market today (stocks to watch). If you are looking for better stocks in intraday, then you can keep an eye on these (Stocks in Focus). Today’s list includes stocks like Adani Energy Solutions, Adani Enterprises, Ultratech Cement, IRCTC, LIC, NALCO, Sobha, Nazara Tech, NMDC, Engineers India, Aditya Birla Fashion and Retail, Amara Raja, Aster DM Healthcare, Campus Activewear, EIH, GIC, MTAR Technologies, NBCC (India), Prestige Estates, RITES.
IRCTC, Engineers India results today
The quarterly results of IRCTC and Engineers India will be released today on 28 May 2024. Apart from these, results of Aditya Birla Fashion and Retail, Amara Raja, Aster DM Healthcare, Campus Activewear, EIH, GIC, Medplus Health Services, MTAR Tech, NBCC (India), Prestige Estates Projects and RITES will also come.
Adani Energy Solutions
The board of Adani Energy Solutions approved raising funds of Rs 12,500 crore. In a meeting held on May 27, the company informed that it will raise this fund through Qualified Institutional Placement (QIP). According to the information given in the exchange filing, the final approval for raising this fund will be taken in the Annual General Meeting (AGM). Adani Enterprises, the flagship company of Adani Group, will also consider raising funds on Tuesday.
Ultratech Cement
Aditya Birla Group company UltraTech Cement has made an offer to acquire 31.6 per cent stake in United Arab Emirates (UAE)-based ‘RAK Cement Company for White Cement and Construction Materials’ (RAKWCT). The stake in RAKWCT will be acquired by UltraTech Cement Middle East Investments Limited (UCMEIL), a wholly-owned subsidiary of UltraTech in UAE.
LIC
The profit of public sector insurance company LIC stood at Rs 13,763 crore with a marginal increase of 2 per cent in the fourth quarter ended March 2024. The company’s profit has been affected mainly due to the provision of salary hike. The company had a profit of Rs 13,428 crore in the same quarter a year ago. The total income of the company increased to Rs 2,50,923 crore in the January-March quarter of the last financial year 2023-24, which was Rs 2,00,185 crore in the same quarter of the previous year.
Sobha
Real estate company Sobha Limited has set a target to increase its equity capital four times to Rs 10,000 crore in the next 5 years and is going to bring a rights issue to raise about Rs 2,000 crore in the current financial year. The board of directors of Sobha Limited, a company of Dubai-based Sobha Group, has approved the proposal to raise Rs 2,000 crore through a rights issue. After this, the equity capital base of the company will increase from the current level of Rs 2,500 crore to Rs 4,500 crore.
Nazara Tech
Nazara Technologies promoter Mittal Infotech has sold 48.8 lakh shares, equivalent to 6.38 per cent stake, to existing investor Plutus Wealth Management. This will provide cash for the promoters who have dedicated 25 years to the growth of the company. Nitish Mittal will continue in his current role as Chief Executive Officer and Joint Managing Director.