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STOCKS IN NEWS: NCC, Kei Industries, Enviro Infra Engineers Ltd, Au Small Finance Bank, Bajaj Holdings & Invs, Godrej Enterprises Group, Sigachi Industries, Zee Entertainment Ents, Lamosaic India Ltd, Easy Trip Planners, Newgen Software Techs, Zomato and
NCC Wins ₹3,389 Crore Ken-Betwa Dam Project; Shares Surge 90% in 2024NCC Ltd. secured a ₹3,389 crore EPC contract for the Daudhan Dam under the Ken-Betwa Link Project in Madhya Pradesh, to be executed within 72 months. This adds to its strong order book of ₹52,370 crore as of September, with guidance for ₹20,000-₹22,000 crore in FY24 order inflows and 15%+ revenue growth. Shares rose 3.2% to ₹313.2, up 90% in 2024, with most analysts maintaining a "buy" rating on the stock.
KEI Industries Raises ₹2,000 Crore via QIP; Kotak MF Leads with 27.5% Allocation
KEI Industries raised ₹2,000 crore via a Qualified Institutional Placement (QIP), issuing 52.63 lakh equity shares at ₹3,800 per share, a 2.1% discount to the floor price. Four funds, including Kotak Mutual Fund (27.5%), ICICI Prudential (13%), and Motilal Oswal (13%), received nearly 60% of the shares. The funds will support KEI's capex plans, including ₹600-700 crore for the Sanand plant in H2 FY24 and ₹800-900 crore for FY25. Shares are up 35% in 2024 despite a recent dip.
Enviro Infra Engineers IPO Lists at 50% Premium: Strong Debut After 90x Subscription
Enviro Infra Engineers' ₹650 crore IPO debuted on November 29, 2024, listing at ₹220 on the NSE, a 50% premium over the issue price of ₹148. The IPO, which was subscribed 90 times, raised ₹572 crore through a fresh issue and included an Offer For Sale (OFS) component. Domestic demand was strong, with the retail portion subscribed 25 times. The company plans to use IPO proceeds for working capital, debt repayment, and funding projects like a sewage treatment plant in Mathura.
AU Small Finance Bank Partners with Bharti AXA Life Insurance to Expand Financial Solutions
AU Small Finance Bank has entered a strategic partnership with Bharti AXA Life Insurance to offer a range of life insurance and financial security solutions to its customers. This bancassurance tie-up aims to enhance insurance penetration and provide customized products such as term insurance, ULIPs, savings plans, and retirement plans. The partnership will strengthen AU Small Finance Bank's presence in Southern India and support its broader goal of becoming a preferred digital financial partner. The bank recently applied for a universal banking license with the RBI.
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