TCS, Vodafone Idea, Vedanta, Future Retail, Adani Group


NEW DELHI: Here are the top 10 stocks that could be in the spotlight on Thursday:

Tata Consulting Services: Made changes to its leadership roles in North America. As part of the changes, Suresh Muthuswami was elevated to President, North America. This is one of the most significant leadership changes the company has announced for the region.

Vodafone Idea: Parent company Vodafone Plc is in talks to sell up to 5% stake in tower company Indus Towers to Bharti Airtel, and use the proceeds to invest in Vodafone Idea Ltd, as the self-mandated March deadline for the loss-making Indian telecommunications company to raise funds from external investors approach.

Vedanta Ltd: The company’s board of directors will meet on March 2 to examine and approve the third interim dividend for the current financial year. The record date for the purpose of determining the shareholders’ right to said dividend, if declared, is March 10.

Retail of the future: Future Retail Ltd lenders are not keen on signing an inter-creditor agreement (ICA) until developer Kishore Biyani presents a workable debt restructuring plan to revive the hypermarket operator, say people familiar with the development. Led by Bank of India, the lender is expected to meet later this week to decide on the next course of action given that the deadline to sign the ICA ends on March 3.

Adani Group: Shell Plc and Adani Group are likely to be the first to acquire Sprng Energy, the Indian renewable energy platform of Actis Llp, for around $1 billion in equity. Binding bids for Sprng Energy are to be placed by March 15, in what would be one of the biggest deals in India’s green energy sector. Seventeen companies had submitted non-binding offers in the first stage of the sale process, managed by Bank of America.

Welsh India: Plans to increase 500 crore by issuing non-convertible debentures (NCDs) or commercial papers on a private placement basis. Its board of directors has approved the fundraising, subject to shareholder approval.

Ujjivan Small Finance Bank: Will seek shareholder approval to raise up to 600 crore of share capital by issuing shares to qualified institutional buyers to meet regulatory requirements for merger with its parent company.

Spandana Sphoorty: Microfinance lender said they would like to complete their project Fundraising of 300 crore by March and that its promoter Kedaara Capital and a major long-term shareholder Valiant would subscribe to the shares of the preferential allocation at 459 per share, a 20.5% premium to its closing price on Wednesday.

Indian hotel company: Parent Tata Sons plans to dilute its stake to 8% in the hotel major, as the hotel giant seeks to raise around 2,000 crore via Qualified Institutional Placement (QIP) over the next two weeks. Tata Sons owns a 41% stake in IHCL, the operator of the Taj hotel group. IHCL will use the proceeds to reduce the value of its consolidated debt 1,905 crore.

Bosch: Acquired a 26% minority stake in Autozilla Solutions Pvt Ltd to participate in a digital B2B marketplace for the independent aftermarket in India. The agreement will strengthen Bosch’s market appeal through its Bosch automotive service outlets and independent garages enrolled in the “extra” loyalty program.

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