Route Mobile, Britannia, RIL and other top stocks to watch out for on November 9

Nov 9, 2021

Credit: BCCL

Route Mobile

The cloud communications provider has reportedly announced a qualified institutional placement worth ₹740 crore ($100 million), at ₹1,852 per equity share, at a discount of 6.83 percent over the closing price on November 8.

Credit: Route Mobile

Contd...

A Moneycontrol report suggested that the proceeds of the QIP would be used to boost the company’s cash reserves and fund organic and inorganic growth.

Credit: Route Mobile

Britannia Industries

Reported a 23 percent decline in net profit to ₹384 crore even as its revenue surged 5.5 percent to ₹3,607 crore, year-on-year.

Credit: Britannia Industries

Contd...

It also reported an increase in operating and finance costs, with raw material costs increasing 8.3 percent year-on-year, while finance costs surged 30.7 percent.

Credit: Britannia Industries

Reliance Industries

Exited the shale gas business in North America by selling off its assets in its subsidiary Reliance Eagleford Upstream Holding.

Credit: Reliance Industries

IPO Watch

Fintech giant Paytm’s ₹18,300 crore IPO received 18 percent subscription on the first day with the retail quota being booked 78 percent.

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Earnings today

Mahindra & Mahindra, Power Grid Corporation, BHEL, MRF, Bosch, IDFC, Procter & Gamble Health, Mishra Dhatu Nigam, OnMobile Global, Redington (India), Tata Investment Corporation, among others.

Credit: Pixabay

Cadila Healthcare

Bagged an order to supply 1 crore doses of ZyCoV-D, a Plasmid DNA vaccine against COVID-19, to the Government of India. Each dose is priced at ₹265.

Credit: Cadila Healthcare

Future Retail

NCLT Mumbai has granted a stay on the meeting of the company’s creditors and shareholders, scheduled for November 9-10 to approve the arrangement with Reliance Industries’ subsidiaries.

Credit: BCCL