Stocks to Watch: Inox Green Energy, Adani Enterprises, Nykaa, Vedanta, TechM

 Cinevista, OCL Iron and Steel, and Modern Thread (India) will be among the stocks in focus on Wednesday as they will be declaring their September quarter earnings.

Inox Green Energy: One of the major wind power operation and maintenance service providers, Inox Green Energy Services will make its market debut on Wednesday. The company's ₹740 crore initial public offering (IPO) which ended last week, received full subscriptions driven by retail investors and institutional buyers. Inox Green Energy Services is a subsidiary of the listed firm Inox Wind.

Adani Enterprises: Adani Enterprises Ltd. is considering issuing at least $1.8 billion in new shares, according to people familiar with the matter. The conglomerate is working with advisers on the follow-on issue and could sell the shares as soon as next year, the people said, asking not to be identified as the information is private. The sale could even raise as much as $2.4 billion, one of the people said.

FSN E-Commerce Ventures: Arvind Agarwal, the chief financial officer (CFO) of FSN E-Commerce Ventures Ltd-run Nykaa, resigned from his position with 25 November as his last working day in the role, “to pursue other opportunities in the digital economy & start-up space," according to a filing with the exchanges. Agarwal joined the role in July 2020. The e-retailer platform has not made an appointment to replace Agarwal, yet.

Vedanta: Billionaire Anil Agarwal-led mining giant, Vedanta Group on Tuesday approved the third interim dividend of ₹17.50 per share or 1750% for the financial year 2022-23. The filing by the company said the dividend will amount to ₹6,505 crore. The record date for the same has been fixed as Wednesday, 30 November 2022. The Mumbai-headquartered company paid its first interim dividend of ₹31.5 per equity share for FY23 to shareholders in May 2022, followed by the second interim dividend of ₹19.5 per share to eligible shareholders in July.

JSW Energy: JSW Energy has sought shareholders' approval to appoint Parth Jindal as a director on the company's board. Parth Jindal is the son of the company's Chairman and Managing Director Sajjan Jindal. The remote e-voting process for the resolution to appoint Parth Jindal as a director will start on November 23 and end on December 22, according to a postal ballot notice.

Tech Mahindra: The life insurance giant in India, LIC has increased its shareholding in Tech Mahindra to 6.874%. Earlier, LIC held 4.863% of the paid-up capital of the IT major. That being said, LIC's stake in Tech Mahindra has increased by 2.011%. LIC raised its stake in Tech Mahindra in an open market purchase. LIC's shareholding in Tech Mahindra has increased from 4,73,44,343 to 6,69,25,392 equity shares in Tech Mahindra --- taking its shareholding from 4.863% to 6.874%.

Vodafone Idea: Shareholders of debt-ridden Vodafone Idea have approved issuing shares worth ₹1,600 crore to ATC Telecom Infrastructure on a preferential basis, according to a regulatory filing. Vodafone Idea Ltd's (VIL) board has given its nod to settle ₹1,600 crore dues to equipment vendor ATC Telecom by converting the due amount into equity if the amount remained unpaid in 18 months.

Siemens: Siemens on Tuesday reported a 23 per cent rise in its net profit from continuing operations to ₹392 crore in the September 2022 quarter, mainly on the back of higher revenues. Profit after Tax net profit from continuing operations of ₹392 crore, increased by 23 per cent over the same period last year. The company follows October to September financial year.

Wipro: French-based financial services company, Societe Generale picked up 48 lakh equity shares in IT giant Wipro for ₹185.76 crores in a block deal on Tuesday. On the other hand, BNP Paribas Arbitrage offloaded a portion of its stake in the company. Wipro shares witnessed a flattish performance on stock exchanges. As per the block deal data on BSE, Societe Generale purchased a total of 48 lakh equity shares at a price of ₹387 per share aggregating to ₹185.76 crore.

L&T: Larsen & Toubro (L&T) on Tuesday said it has bought the entire stake held by Chiyoda Corporation in L&T-Chiyoda Ltd for ₹75 crore. L&T-Chiyoda Ltd (LTC) is a joint venture between L&T and Japan-based Chiyoda Corporation (Chiyoda). The buyout is likely to be completed by the end of next month, the engineering and construction conglomerate said in a regulatory filing.

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