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Stocks in Focus: RVNL, Adani Energy Solutions, Dabur India and Others

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The GIFT Nifty futures were trading in the green before the market’s opening on Wednesday. Indices are expected to open on a similar positive note.

On Monday, domestic benchmark indices NSE Nifty 50 and S&P BSE Sensex ended lower in the Muhurat trading session. Nifty closed 0.42% or 82 points lower at 19,443.55, while Sensex settled below the 65,000 mark at 64,933.87 after falling 326 points or 0.22%.

Here are some stocks likely to be in focus on November 15.

Dabur India: The Mumbai Police has filed an FIR against prominent figures from the Dabur Group, including Chairman Mohit Burman and Director Gaurav Burman, concerning the Mahadev betting app scam. The Burman family said they have not received any communication on any such FIR.

IDFC First Bank: The Bank has received an observation letter with no objection from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) regarding its amalgamation with IDFC Limited and IDFC Financial Holding Company. The Pension Fund Regulatory and Development Authority (PFRDA) has also approved the merger. 

Adani Energy Solutions: The company’s distribution arm, Adani Electricity Mumbai, announced a tender offer to buy back up to $ 120 million of its outstanding 3.949% $1,000 million senior secured notes due in 2030. The tender offer is being fully funded through its cash surplus and internal accruals.

Grasim Industries: The Aditya Birla group company posted a 15.3% rise in net profit at Rs 1,164 crore for the quarter ended September 30 from the corresponding period last year, driven by the performance of its cement and financial services subsidiaries. Its revenue from operations rose 10% year-on-year to Rs 30,220.68 crore. 

Rail Vikas Nigam Ltd (RVNL): The company has received a Letter of Acceptance (LoA) from the Central Railways to construct tunnels and bridges in Madhya Pradesh for a total order value of Rs 311 crore. The project will be completed in 18 months.

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