Stocks to Watch: ITC, Bank of Baroda, Lupin, Brigade Enterprises, IOL Chemicals, and more | Stock Market News

Here’s a quick look at stocks likely to be in focus in today’s trade.

ITC: ITC Ltd, ahead of the demerger of its hotels business in January 2025, announced the acquisition of stakes in rival hospitality chains Oberoi (EIH) and Leela (HLV) from its wholly-owned subsidiary, Russell Credit Ltd (RCL). The company acquired 2.44 percent of EIH’s share capital (1.52 crore equity shares of ₹2 each) and 0.53 percent of HLV’s share capital (34.60 lakh equity shares of ₹2 each), increasing its total holdings to 16.13 percent in EIH and 8.11 percent in HLV. This step follows the board’s October 2024 approval to consolidate ITC’s shareholdings in EIH and HLV under the parent company.

Bank of Baroda: Bank of Baroda (BoB), a state-owned lender, announced on Wednesday (December 18) that its board of directors has approved issuing long-term bonds worth up to ₹10,000 crore. These bonds are intended to finance infrastructure and affordable housing projects. The bank noted that the bonds might be raised in one or more tranches during the financial year 2024-25 and beyond, based on market conditions and feasibility.

Asian Paints: On Wednesday (December 18), Asian Paints announced the resignation of two senior management executives. Shyam Swamy, Vice President of Home Improvement, Décor, Services & Retailing, and Vishu Goel, Associate Vice President of Retail Sales, Commercial & Marketing, tendered their resignations on December 17, 2024. The company accepted their resignations, effective immediately, and both ceased to be employees and senior management members at the close of business on the same day. The reasons for their departures were not disclosed.

Lupin: The pharmaceutical company announced that it has received approval from the US Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Emtricitabine and Tenofovir Alafenamide Tablets (200 mg/25 mg), used in HIV treatment. This approval enables Lupin to market a generic version of Descovy tablets, originally developed by Gilead Sciences Inc. As one of the first companies to secure approval, Lupin is entitled to 180 days of shared generic exclusivity in the US market.

Brigade Enterprises: Bengaluru-based real estate developer Brigade Enterprises has introduced India’s first net-zero residential project, Brigade Citrine. The project, located on a 4.3-acre site in Budigere Cross, Whitefield, has an estimated Gross Development Value (GDV) of ₹500 crore. It includes 420 residential units offering 1, 2, 3, and 4 BHK configurations. Designed to be eco-friendly, Brigade Citrine aims to save approximately 8,900 tankers of water annually and uses renewable energy for common area lighting.

IOL Chemicals: IOL Chemicals and Pharmaceuticals announced that its Board of Directors will convene on December 27, 2024, to discuss a potential sub-division or split of its existing equity shares. The company, in its filing, stated, “The meeting of the Board of Directors of the Company is scheduled on 27/12/2024, inter alia, to consider and approve the alteration in the share capital of the Company by sub-division/split of existing equity shares having a face value of ₹10 each, fully paid up.”

Borosil Renewables: Solar glass manufacturer Borosil Renewables announced that its board has approved several strategic decisions, including the temporary cooldown of its German subsidiary’s furnace, capacity expansion in India, and revised fundraising strategies. The company’s step-down subsidiary, GMB Glasmanufaktur Brandenburg GmbH, based in Tschernitz, Germany, will temporarily cool down its 350 TPD (tonnes per day) furnace by the end of December 2024 to align operations with current market conditions.

NITCO: Tile and marble manufacturer NITCO disclosed that it has secured orders worth ₹105 crore from Bengaluru-based real estate firm Prestige Group. NITCO will supply tiles and marble for multiple real estate projects by the Prestige Group across India. NITCO highlighted its longstanding 40-year business relationship with the Razaak family of Prestige Group, which exclusively sources its requirements from NITCO.

Vardhman Polytex: The textile company announced plans to raise up to ₹120 crore through a rights issue of equity shares. Additionally, it will issue warrants amounting to ₹90.9 crore. The rights issue is expected to strengthen Vardhman Polytex’s financial position and support its future growth initiatives.

Yasho Industries: Chemical manufacturer Yasho Industries stated that its Board of Directors has approved the issuance of up to 657,895 fully paid equity shares on a preferential basis. The shares will be issued at ₹1,900 each, including a premium of ₹1,890, for a total of ₹125 crore. The allotment will be made to three investors—Malabar India Fund Limited, Ashoka India Equity Investment Trust PLC, and WhiteOak Capital ELSS Tax Saver Mutual Fund—pending shareholder approval and other regulatory clearances.

VIP Industries: VIP Industries announced that it received a favorable ruling from the Maharashtra Sales Tax Tribunal in a dispute related to branch transfer claims and associated tax levies under the Central Sales Tax Act, 1956. The tribunal overturned the assessment orders issued by tax authorities for FY10 to FY17 and part of FY18, upholding VIP Industries’ stock transfer claims.