Stocks To Watch Today: Dixon Technologies, Welspun Corp, Quality Power, HDFC Bank, CMR Green Tech In Focus

Dixon Technologies, Welspun Corp, Quality Power Electrical Equipment, HDFC Bank, Hinduja Global Solutions and newly listed CMR Green Technologies are expected to remain in focus on Tuesday following key corporate announcements and market developments.

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Dixon Technologies Forms Telecom Manufacturing Joint Venture

Dixon Technologies, along with its subsidiary Dixon Electroconnect and Taiwan-based Gemtek Technology Co., has signed a binding term sheet to establish a joint venture for manufacturing telecom equipment. Dixon will hold a 60% stake in the venture, while Gemtek will own the remaining 40%.

The proposed entity will manufacture optical transceivers, small form-factor pluggables (SFPs), bidirectional optical sub-assemblies (BOSA) and other telecom products.

Welspun Corp Divests Stake In Saudi Venture

Welspun Corp said its subsidiary, Welspun Mauritius Holdings, has sold a 4.5% stake in East Pipes Integrated Company for Industry (EPIC) in Saudi Arabia for SAR 283.46 million, equivalent to about US$75.59 million.

Following the transaction, Welspun Pipes Inc., the company’s wholly owned U.S. subsidiary, will continue to hold a 22% stake in EPIC.

Quality Power To Acquire Winwin Specialty Insulators

Quality Power Electrical Equipment has signed a term sheet to acquire 100% equity ownership of Winwin Speciality Insulators, a Visakhapatnam-based manufacturer of high-voltage ceramic and polymer insulators.

The acquisition is aimed at strengthening the company’s presence in power transmission and insulation products.

HGS Launches Broadband Expansion Project

Hinduja Global Solutions announced the rollout of Project GANGA after an agreement signed earlier this year with the Government of Uttar Pradesh and OneOTT Intertainment.

The initiative aims to provide high-speed broadband connectivity to more than 20 lakh households across Uttar Pradesh over the next two to three years.

HDFC Bank Receives Relief In Defamation Case

HDFC Bank informed exchanges that the Bombay High Court dismissed an interim application filed by the Lilavati Kirtilal Mehta Medical Trust in a ₹1,000-crore defamation suit.

The trust had sought restrictions on the bank, Managing Director and Chief Executive Officer Sashidhar Jagdishan and others over alleged defamatory statements.

Other Stocks In Focus

NLC India will remain on investors’ radar as the government’s offer for sale closes on June 10. The Centre has exercised the oversubscription option for an additional 1% stake over the base offer size of 2%.

Dredging Corporation of India appointed Jasmeet Singh Bindra as Additional Director and Chairman with effect from June 9.

Bulk And Block Deal Activity

Emcure Pharmaceuticals saw Kotak Mahindra Mutual Fund purchase 36 lakh shares, representing a 1.89% stake, for ₹612 crore from Bain Capital-backed BC Investments IV.

In Ajanta Pharma, promoter entity Ravi Agrawal Trust sold 34.5 lakh shares worth ₹1,023.96 crore. Kotak Mahindra Mutual Fund and Aditya Birla Sun Life Mutual Fund acquired the shares at ₹2,968 apiece.

BlueStone Jewellery and Lifestyle witnessed stake sales worth ₹243 crore by Ivycap Ventures Trust, Accel India and 360 ONE Special Opportunities Fund. Nippon India Mutual Fund purchased 25 lakh shares in the company through a block deal.

Listing, Corporate Actions And F&O Ban

CMR Green Technologies is scheduled to make its stock market debut on June 10. Infosys, Indian Bank, Seshasayee Paper and Boards, Tata Chemicals, Tata Elxsi and Tata Investment Corporation will trade ex-dividend. Gautam Exim will trade ex-bonus.

Amber Enterprises India and Kaynes Technology India remain under the F&O ban list for the session.