Stocks to watch: Kaines Technologies, Nikaa, NDTV, JSPL, Reliance | Daily News Byte

Kaines Technologies: End-to-end and IoT solutions enabled integrated player for electronics manufacturing, Kanes Technologies will debut on the market on Tuesday after a successful initial public offering (IPO). On the BSE, Kaines will be listed for trading and business under the ‘B’ group of securities. NSE as well as notified the listing company. The ₹858 crore IPO was oversubscribed by 34.16 times with strong appetite across investor categories.

FSN E-Commerce Ventures. Private Equity Lighthouse India will sell shares at par ₹335 million in FSN E-Commerce Ventures, which runs Nikaa, will close the deal tomorrow. Bank of America Corporation is the designated banker for the deal, according to reports. Lighthouse India is expected to sell the shares at a price of approx ₹180-183.5 each, a 2% discount on the e-commerce beauty company’s last closing price on Monday.

NDTV. An open bid by billionaire Gautam Adani-led Adani Group to buy an additional 26% stake in news broadcaster New Delhi Television Ltd from the market will begin on Tuesday, November 22. An offer for which the price range is from ₹294 per share is fixed, will open on November 22 and close on December 5, said JM Financial, the firm managing the offer on behalf of Adani Group companies. The previous deadline for Adani’s open offer was from October 17 to November 1.

Jindal Steel and Power. Botswana’s Ministry of Energy has named India’s leading steel, mining and infrastructure producer, Jindal Steel and Power (JSPL) as the preferred bidder for a tender to build a 300 megawatt (MW) coal-fired power plant. Jindal was among the companies bidding for the only fossil fuel power plant the landlocked southern African country plans to acquire in the next two decades.

Nazara Technologies. Nazara Technologies posted an 11% rise in after-tax profit on Monday ₹169 million for the quarter ended September 2022, against ₹153 million in the period of a year ago. The company said that its revenues increased by 104 percent ₹2,638 in the reviewed quarter, against ₹1,296 crore in the corresponding quarter of the previous year, according to a statement shared with the stock exchange.

Reliance Industries. The National Company Law Tribunal (NCLT) on Monday gave approval to Reliance Jio subsidiary Reliance Projects and Property Management Services to acquire Reliance Infratel (RITL) which owns tower and optical assets of Reliance Communications. NCLT asked Jio to deposit ₹3,720 crore in the State Bank of India (SBI) escrow account to complete the acquisition of RCOM’s tower and fiber assets.

JK Paper: JK Paper on Monday said it will buy Horizon Packs Private Ltd and Securipak Packaging Private Ltd in phases for approx ₹578 crowns. HPPL and SPPL have seven plants across the country, the company said in a regulatory filing. JK paper will buy 26.92 million shares in HPPL for ₹19.33 per share and 4.63 lakh equity shares for ₹1,256.95 apiece in SPPL — representing an 85% stake in each company.

HDFC Bank/Canara Bank. The Reserve Bank of India (RBI) has allowed leading private sector lender HDFC Bank Ltd and state-owned Canara Bank Ltd to open a special “vostro account” to trade rupees with Russia, a report said on Monday. Vostro accounts are accounts held by a bank on behalf of another, often foreign bank, and form a key part of correspondent banking.

Sadbhav Engineering. According to reports, Vasista C Patel has resigned as Chief Executive Officer (CEO) of the company with immediate effect. Nitin R Patil has also resigned as CEO and Chief Financial Officer (CFO) of the company, the reports added.

Bharti Airtel: Bharti Airtel has increased the price of its minimum mobile recharge plan in Haryana and Odisha. As stated on the company’s website, the price of the minimum monthly recharge plan has increased by around 57% to ₹155 in both countries. Till now Airtel’s minimum recharge plan price in Haryana and Odisha was ₹99. It offered 200 MB of mobile data and calls at a price of ₹2.5 paise per second. The ₹155 plan offers unlimited voice calls along with 1GB total data and 300 SMS.