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    Stocks in the news: Archean, Five Star, ONGC, Tata Motors, NMDC and Zomato

    Synopsis

    Archean Chemicals and Five Star Business Finance will make their Dalal Street debut on Monday after both company's issue aggregating to Rs 1,462 crore and Rs 1,960 crore, respectively were open between November 9-11.

    ​Stock Ideas​ThinkStock Photos
    Stocks in buzz: Nykaa, IEX, Bharat Electricals, Jindal Stainless, Hindustan Copper, RHI Magnesita, REC, Dredging Corp and more
    Nifty futures on the Singapore Exchange traded 52.5 points, or 0.29 per cent lower at 18,295, signaling that Dalal Street was headed for a negative start on Monday. Here are a dozen stocks which may buzz the most in today's trade:

    Archean Chemicals Industries: India's largest exporter of bromine and industrial salt will make is debut at the Dalal Street on Monday after company's Rs 1,462 crore IPO was open for subscription between November 9-11 in a price range of Rs 386-407. The issue was booked 32.23 times.

    Five Star Business Finance: The Chennai based NBFC will also get listed at Dalal Street on Monday after the company raised Rs 1,960 crore via its primary offering which was sold in the range of Rs 450-474 apiece between November 9-11. The issue barely managed to sail through during the bidding process.

    Tata Motors:
    The homegrown auto major will become part of BSE Sensex, replacing the pharma player Dr Reddy's Laboratories. The changes will be effective from December 19, 2022.

    ONGC: India's largest oil and gas producer will this year reverse years of decline in production and gradually raise output thereafter as it invests billions of dollars to produce from newer discoveries, company's management told investors in a call.

    NMDC:
    The state run iron ore minor will be spending nearly Rs 900 crore in the next two to three years to ramp up iron ore production from seven million tonnes per annum (MTPA) to 10 million tonnes, from its Kumaraswamy mines in Karnataka.

    FSN E-Commerce Ventures: Private equity player TPG Growth sold 5.42 crore shares of e-commerce beauty company Nykaa at a price of Rs 184.55 in a block deal for more than Rs 1,000 crore, as per data from the National Stock Exchange (NSE).

    Zomato: The online food delivery platform said its Co-founder Mohit Gupta has resigned from his post. Gupta, who had joined Zomato four-and-a-half year back, was elevated to co-founder in 2020 from the position of CEO of its food delivery business.

    Bharat Electronics: The navratna defence PSU has signed a Joint Development Agreement with the Indian Institute of Technology Madras for co-operation in the field of Quantum Science and Technology. It aims at leveraging the complementary strengths and capabilities of BEL and IITM in the area of Quantum Science Technology development.

    Indian Energy Exchange:
    India's premier energy marketplace said the board of directors will meet on November 25 to consider share buyback proposal.

    Engineers India: The state run engineering firm has received order from Chennai Petroleum Corporation for overall project management & EPCM services for OHCU revamp, CDWU and related off-site facilities for Group-II LOBS project at Manali refinery.

    Jindal Stainless: Appellate tribunal NCLAT has upheld the NCLT order to allow metal player to participate in the auction of debt-ridden Rathi Super Steel even after a bidder was selected. The NCLAT said the NCLT 'did not commit any error' as sales were not completed and the object was to obtain the maximization of the assets.

    Hindustan Copper: The cooper player was ramping up copper ore production from the Malanjkhand project in Madhya Pradesh to 2.2 million tonnes from the current 1.6 million tonnes and it will be eventually increased to five million tonnes in the next 6-7 years.

    RHI Magnesita India: The refractories player is in process of acquiring the refractory business of Dalmia Bharat Refractories (DBRL) in India for about Rs 1,708 crore, Stefan Borgas, CEO of the Vienna-based company. The share swap deal is being made through RHI Magnesita India, he added.

    REC:
    The state-run power projects finance company has received consideration and accordingly transferred its entire shareholding in Gadag II-A Transmission, presently held by its subsidiary RECPDCL, along with all assets and liabilities to ReNew Transmission Ventures, the successful bidder.

    Sanmit Infra: The marketing and refineries player has bagged an order for Eco Friendly Less Wood or Green Cremation System (GMS) for an amount of Rs 2.25 crore.

    Dredging Corporation of India: The state run dredging fimr reported standalone profit at Rs 28.61 crore for quarter ended September FY23, against loss of Rs 3.98 crore in corresponding period last fiscal, led by strong top line and operating performance. Standalone revenue from operations jumped 58.1% to Rs 238.72 crore.

    Moldtek Packaging:
    The plastic packaging player said it is establishing a plant at Cheyyar in Tamil Nadu and another one at Panipat, Haryana to cater to Aditya Birla Group's requirements as well as strategically growing market demand of Food & FMCG products. A sum of Rs 30 crore will be invested in each plant.

    3i Infotech:
    The smallcap IT company has received a Rs 51 crore contract from Hindustan Petroleum Corporation (HPCL), for managing and supporting IT infrastructure at HPCL offices, refinery including data centers across pan-India.

    Advait Infratech: The company has received order from Power Grid Corporation of India under the company's vertical of emergency restoration system department. The order is worth Rs 18 crore.

    Archies: The gifting player returned to black in the September 2022 quarter as it reported a net profit of Rs 0.7 crore which was a net loss of Rs 1.09 crore in the same quarter previous year. It reported a 16 per cent increase in the revenue from operations at Rs 22.8 crore.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

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    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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