Stocks To Watch Today on November 28, 2024: Godrej Properties, Bank of India, NBCC, and more Will be in Focus

On November 28, 2024, at 08:05 AM, the GIFT Nifty futures were trading almost flat at 24,469, 10.50 points higher, indicating a muted start. Before the market opens, check out a few stocks that will be in focus during the trading session.

• Godrej Properties

As per CNBC, Godrej Properties, a Mumbai-based real estate developer is planning to raise ₹4,000 crore via a launch of Qualified Institutional Placement (QIP). The company is seeking to sell up to 5.5% of its equity, or approximately 1.54 crore shares, at an indicative price of ₹2,595 per share.

• Bank of India 

Bank of India announced a private placement of ₹5,000 crore by issuing long-term infrastructure bonds. The issue saw an overwhelming response, with bids totalling ₹13,700 crores, leading to an oversubscription of 6.85 times the base issue size of ₹2,000 crore. However, the state-owned bank has decided to accept bids worth ₹5,000 crore at a coupon rate of 7.41% per annum. A total of 5 lakh bonds, each with a face value of ₹1 lakh, will be issued.

• NBCC

NBCC has entered into a memorandum of understanding (MoU) with Housing & Urban Development Corporation Ltd (HUDCO) to develop a 10-acre institutional plot in Noida Sector 62. NBCC will act as the project management consultant, which has an estimated cost of ₹600 crore.

• Waaree Renewable 

Waaree Renewable announced that it had received a “term sheet” for the execution of engineering, procurement, and construction (EPC) of a ground-mount solar PV project with a capacity of 2012.47 MWp DC. The total estimated value of the order is approximately ₹12,33.5 crore (excluding taxes).

• Ashoka Buildcon

Ashok Buildcon recently updated the market with the cancellation of a key road project bid and the receipt of a significant new order. Ashoka Buildcon affirmed that NHAI had cancelled the bid for the Kharagpur-Chandrakona-Ghatal road project (Package-1) in West Bengal due to administrative reasons, as Ashoka Buildcon was the sole bidder

• Sonata Software

Sonata Software secured a multi-million dollar modernisation deal from a global leader in access solutions. “This transformation deal will integrate and standardise the client’s APAC business processes across 13 countries.

• Natco Pharma

Natco Pharma has finished the sale of approximately 14.38 acres (72,358 square yards) of land in Ranga Reddy district, Telangana, for ₹115.57 crore, including infrastructure costs. In addition, the company stated that the land and building sold were not part of its operational assets and that the transaction would not impact its business operations.

• Vedanta

Moody’s Ratings has upgraded Vedanta Resources Ltd’s corporate family rating (CFR) to B2 from B3, indicating improved confidence in the company’s ability to meet its overall debt obligations.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.