Stocks In Focus Today

SpiceJet (NS:SPJT) | Board to meet again today to mull allowing equity shares on a preferential basis. Board will also mull converting all outstanding liabilities into equity shares of the company. Also on the agenda is to raise fresh capital through the issue of eligible securities through qualified institutional bidders, which will be subject to applicable regulatory approvals.

Edelweiss Financial (NS:EDEL) Services | Gets shareholder approval for the demerger of its wealth management business. The approval also paves the way for the listing of Nuvama Wealth Management, earlier known as Edelweiss Wealth Management. PAG invested in the wealth management business of Edelweiss in 2020 and announced the demerger and subsequent listing of the same. Nuvama will allot 1.05 crore equity shares to shareholders of Edelweiss Financial Services as on the record date on a proportionate basis as a consideration for the demerger. Edelweiss will continue to hold a 14 percent stake in NWML, while PAG would hold 56 percent.

NBCC (NS:NBCC) | Secured business worth Rs 194.17 crore in the month of January. Also awarded work of Project Management Consultant for complete planning, design, execution, and construction of buildings and services and other works under EPC contract work for various buildings at Motilal Nehru National Institute of Technology, Allahabad, having a value of Rs 350 crore.

Easy Trip (NS:EASM) Planners | Enters into an advertising agreement with Capri Global Holdings for a period of five years. The agreement will be effective from the first season of the Women's premier T20 cricket league tournament. Capri Global holds franchise rights of the UP WARRIORZ team in the league.

Kalpataru Power (NS:KAPT) | Successfully completed the sale and transfer of an additional 25 percent stake Kohima-Mariani Transmission Ltd. (KMTL) to Apraava. Post this transfer, the company has now divested nearly 48 percent stake it holds in KMTL, with the remaining 26 percent to be sold after requisite approvals.

Phoenix Mills | The company's arm, Palladium constructions have acquired a land parcel of 5.5 acres in Alipore, Kolkata to develop premium and luxury residences. The land has been acquired for Rs 414.31 crore, including stamp duty.

Piramal Enterprises (NS:PIRA) | Board to consider issuance of NCDs of up to Rs 600 crore on a private placement basis at its meeting on March 1.

Indiabulls (NS:INBF) Housing Finance | To raise up to Rs 900 crore through public issue of Non-Convertible Debentures (NCD). The public issue will open on March 3 and close on March 17.           
   
Lemon Tree (NS:LEMO) Hotels | Signs license agreement for a 110-room property in Kasauli, under the company's brand "Aurika." The hotel is expected to be operational in November 2024. Carnation Hotels Pvt. Ltd., a wholly-owned subsidiary will be operating the hotel.

Source: CNBC TV-18