Stocks in focus: Dhampur Sugar, TeamLease Services, other stocks worth tracking today

Indian equity benchmarks Nifty and Sensex gave up initial gains in a volatile session on Monday, as Dalal Street entered a four-session, holiday-truncated week. Here's a look at some of the key stocks in focus in the Indian stock market, including Dhampur Sugar, TeamLease Services and SpiceJet.

Dhampur Sugar Mills: The board of Dhampur Sugar Mills is scheduled today. In the meeting, the board will consider and approve payment of interim dividend on the equity shares of the company, for the financial year 2022-23. The record date for the purpose of interim dividend would be April 18, and it is subject to declaration of interim dividend.

TeamLease Services: TeamLease had announced a share buyback of 3,27,869 shares at a face value of Rs 10 each and Rs 3,050 per share by way of tender offer from existing shareholders. According to the company's audited standalone and consolidated audited financial statements as of March 31, 2022, the magnitude of the repurchase offer corresponds to 14.79 per cent and 14.50 per cent of the total of the paid-up capital and free reserves, respectively.

The company has raised around Rs 389 crore from anchor investors ahead of its initial share sale. Avalon will allocate 89.27 lakh equity shares to 24 funds at Rs 436 apiece.

Adani Group: In light of a Reuters report that claimed Sebi was looking into possible violations of the "related party" transaction rules in the Adani group's dealings with at least three offshore entities, attention will be focused on Adani group shares on Monday, including Adani Enterprises, Adani Green Energy, Adani Power, Adani Total Gas, and Adani Transmission. According to the article, these organisations are connected to Vinod Adani, Gautam Adani's older brother.

Gas companies: Shares of city gas distributors like Indraprastha Gas Ltd (IGL), Mahanagar Gas Ltd (MGL) and Gujarat Gas have fallen after domestic gas prices were left unchanged pending a Cabinet decision.

SpiceJet: SpiceJet has completed separating its SpiceXpress freight and logistics operation into a new company called SpiceXpress and Logistics Private Limited. The separation takes effect on 1 April 2023 and prepares the door for SpiceXpress to raise money on its own, according to a statement released by the company today (3 April).

IndiGo: According to authorities, the Bhubaneswar airport will welcome its first international aircraft on May 15 when IndiGo begins direct service to Dubai. On Saturday, Odisha Chief Minister Naveen Patnaik began selling tickets for the trip in honour of Utkal Dibasa (statehood day) on Saturday.

Bharat Heavy Electricals Ltd (BHEL): The company announced that it has received an LOI for supply of strategic equipment for defence sector for Rs 3,700 crore.

Godrej Properties: Godrej Properties has acquired a 4-acre land parcel near Koregaon Park, Pune, according to a BSE filing. The company plans to build a luxury group housing project with a revenue potential of Rs 1,000 crore.

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