Stocks to Watch, June 4: YES Bank, Tata Technologies, Alkem Labs, Vodafone Idea, Ola Electric, Techno Electric, Vedanta, and more

The board approved raising of funds by way of issuance of eligible equity securities through various permissible means, provided that the aggregate amount to be raised by issuance of such securities would not exceed ₹7,500 crore and would not result in an aggregate dilution of more than 10% (including dilution on account of issuance of equity securities in terms of this item and conversion of any convertible debt securities approved by the board), the private bank said in a regulatory filing.

The floor price for the same has been fixed at ₹744.5 per share, which is a 3% discount to Tuesday's closing price.

Bank of America (BofA) will be the broker to the deal, the report added.

Goldman Sachs is reported to act as the broker to the deal.

The floor price is set at ₹580 per share, a 6.4% discount to the last traded price.

Indegene provides research and commercialisation services to biopharmaceutical and healthcare enterprises.

The floor price for the deal has been fixed at ₹4,850, a 3% discount to Tuesday's closing price.

Zinka Logistics Solutions is the parent entity of logistics unicorn Blackbuck.

According to the bulk deal data available on the NSE, Quick Routes International sold more than 1.59 crore shares in two tranches, representing a 9% stake in Zinka Logistics.

The shares were offloaded in the price range of ₹420.06-420.25 apiece, taking the combined transaction value to ₹671.76 crore.

In a separate transaction on the NSE, Peak XV Partners' affiliate Peak XV Partners Investments VI disposed of 12.10 lakh shares in Zinka Logistics Solutions for ₹53 crore.

WestBridge Capital is one of the promoters of Aptus Value Housing Finance.

According to the bulk deal data available on the NSE, private equity firm WestBridge Capital, through its arm WestBridge Crossover Fund LLC, offloaded more than 6.19 crore shares, or a 12.4% stake, in Aptus Value Housing Finance.

The shares were sold at an average price of ₹307.54 apiece, taking the transaction value to ₹1,905.91 crore.

According to the bulk deal data available on BSE, Ericsson India Pvt Ltd offloaded more than 63.37 crore shares, amounting to a 0.9% stake, in Mumbai-based Vodafone Idea.

The shares were offloaded at an average price of ₹6.76 apiece, taking the transaction value to ₹428.44 crore.

Details of the buyers of Vodafone Idea's shares could not be identified on the exchange.

The project is scheduled for completion in the financial year 2025-26, the company said.

WRTL has secured a significant EPC order for a 300 MW AC (alternate current)/435 MW DC (direct current) ground-mounted solar photovoltaic project in Bikaner, Rajasthan.

The order, valued at more than ₹345 crore, was awarded by a prominent domestic renewable energy generation company, the company said, without disclosing any further details.

Without disclosing the financial details of the deal, TechM said the partnership aims to streamline operations and implement next-generation technologies to support Hanab's growth aspirations.

According to the bulk deal data available on the NSE, Hyundai Motor Company sold more than 10.88 crore shares, or a 2.47% stake, in Bengaluru-based Ola Electric Mobility.

The shares were disposed of at an average price of ₹50.70 apiece, taking the transaction value to ₹551.96 crore.

In a separate transaction, Kia Corporation, a part of the global Hyundai-Kia Automotive Group, also offloaded over 2.71 crore shares, representing a 0.62% stake in Ola Electric Mobility.

The commencement of natural gas production was announced by Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri.

Taking to social media platform 'X', the Union Minister hailed the milestone as a testament to the company's resilience and commitment.

The development comes after State Bank of India and seven other lenders last month announced that they will sell 20% of their combined stake in YES Bank to Japan's Sumitomo Mitsui Banking Corporation for ₹13,483 crore.

The base issue of ₹4,100 crore, along with a greenshoe option, allows the company to raise up to a total of ₹5,000 crore, as per the placement memorandum.

The proceeds would be used for general corporate purposes, repayment/prepayment of the existing debt and for capital expenditure requirements.

"Navratna" Central Public Sector Enterprise, as Managed Service Data Centre Partner, through an open tender process on a revenue-sharing basis, is to design, build, finance and operate a 10MW Data Centre in phases on RailTel’s land in Noida, subject to the fulfilment of certain conditions in the Letter of Intent and the signing of the Contract Agreement.

Zynext Ventures USA LLC, a wholly-owned subsidiary of the company, has inked a securities purchase agreement with Agenus to acquire 21,33,333 shares at a purchase price of USD 7.50%, aggregating to around $16 million, the drug firm said in a regulatory filing.

The transaction will allow the Gujarat-based Zydus to access Agenus's biologics manufacturing facilities in California, US.

The order, valued at ₹33.6 crore, also includes a comprehensive 5-year Annual Maintenance Contract (AMC)/Comprehensive Annual Maintenance Contract (CAMC) for various buildings within the Rangiya Division.