Stocks To Watch Today: PVR, OIL, RIL, Adani Enterprises, SJVN & More

On 11th September, Monday, here are the intraday stocks that are likely to remain in focus today.

PVR Inox

The first multiplex has opened in the city of Dharwad, Karnataka, at Smart City Mall, according to PVR INOX in India. The brand-new four-screen multiplex offers cutting-edge technology, unmatched convenience, and customised hospitality for a new generation of moviegoers. With 205 screens across 36 properties, PVR INOX will bolster its position in Karnataka and continue its growth in the southern region of India with 546 screens over 97 properties. With this launch, PVR INOX has accelerated its expansion pace and since the merger, 105 screens have been added to 17 different properties in 14 different locations.

Adani Enterprises

Two of the listed firms in the Adani Group now have a higher shareholding from the promoter company. According to stock exchange filings, the promoter group raised its shareholding in flagship Adani Enterprises from 69.87% to 71.93%. The promoter group said that it has raised its stake in Adani Ports and Special Economic Zone Ltd from 63.06% to 65.23%.

Cupid

Through Columbia Petro Chem Private Limited and Mr. Aditya Halwasiya, a promoter of Universal Petro Chemicals Limited, Cupid Limited has been acquired by the Universal-Halwasiya Group and Family. Subject to regulatory compliance and approval, the Universal-Halwasiya Group and Family have entered into a legally binding agreement to acquire 41.84% of the equity capital and voting rights of Cupid Limited from its promoters, Mr. Omprakash Garg and Mrs. Veena Garg, as well as its management control. In accordance with SEBI regulations, the Universal-Halwasiya Group and Family has launched an open offer to the public shareholders to purchase an additional 26% of the outstanding equity shares of Cupid Limited. Monarch Networth Capital Limited has been selected by the Universal-Halwasiya Group and Family to serve as the offer's manager.

Oil India

On September 9, 2023, Oil India Limited had its 64th Annual General Meeting (AGM). In his speech to the shareholders, Dr. Ranjit Rath, Chairman & Managing Director (CMD), emphasised the accomplishments of OIL on a number of fronts, including the production of crude oil and natural gas, which saw growth of 5.5% (3.18 MMT) and 4.4% (3.18 BCM), respectively. The firm reported its highest standalone profit after tax (PAT) ever in FY 2022-23 at 6,810 crore, up 75.20% YoY, and its highest ever consolidated PAT at 9,854 crore, up 46.66% YoY.

According to a stock exchange filing, Dr Rath mentioned that marching towards fulfilling the vision of UrjaAtmnirbharta for a New India, OIL's strategy is to consolidate its position as the leading operator in the country with the long-term vision to supplement the existing domestic reserves portfolio in line with the Government of India's vision to intensify exploration in Indian Sedimentary Basins and increase domestic oil and gas production. The Company has increased its total operating acreage to 62,911 Sq Km. Aggressive exploration of the company led to a new hydrocarbon discovery during the year in the Sesabil area in the Assam Shelf Basin.

OIL has 2P reserve base of 191 MMTOE and 51 MMTOE of Oil & Oil Equivalent of Gas respectively in domestic assets and overseas assets. Dr Rath emphasised that OIL set an ambitious goal of becoming a "Net-Zero" emission company by 2040 after hearing the Hon. Prime Minister's call to action. This goal will be achieved through a number of initiatives, including the use of cleaner energy sources, funding for renewable energy projects, and the implementation of cutting-edge technologies to reduce greenhouse gas emissions. By 2040, approximately Rs. 25,000 Cr. is expected to be invested in these initiatives.

Kotak Mahindra Bank

Dipak Gupta has been given the go-ahead by the RBI to serve as Kotak Mahindra Bank's interim managing director and chief executive officer for a duration of two months. According to a stock exchange statement by Kotak Mahindra Bank, the RBI authorised Gupta's nomination for a two-month term beginning on September 2.

SJVN

With an investment of Rs 90 crore, state-owned SJVN Ltd and Bhakra Beas Management Board (BBMB) have inked a contract to establish an 18-megawatt (MW) solar power facility. A 25-year PPA for 18 MW of solar electricity has been agreed upon by SJVN and BBMB through its wholly-owned subsidiary SJVN Green Energy Limited (SGEL).

VRL Logistics

In an open market transaction on Friday, the promoter of VRL Logistics Ltd sold a 4% ownership stake in the company for Rs 238 crore. Anand Vijay Sankeshwar, one of the promoters of VRL Logistics, sold 35 lakh shares, or 4% stake in the company, according to bulk transaction information available with the BSE.

Balaji Amines

The subsidiary of Balaji Amines Ltd, Balaji Speciality Chemicals Ltd, has made the decision to withdraw the Draft Red Herring Prospectus (DRHP) for the proposed IPO that was submitted to the Securities and Exchange Board of India (SEBI) on 10th Aug 2022.