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FOCE India Approves ₹49 Cr. Fundraising via Rights Issue to Equity Shareholders

Key Stock Updates - 5th September 2024 Edition

By Bhumika Jain
5 Min Read
Highlights
  • In today’s update, we spotlight key companies that have recently submitted filings to the stock exchange. These filings offer valuable insights into corporate strategies, financial health, and potential market movements. Let's take a closer look.
  • Viviana Power Tech: Allotted 51,500 fully convertible warrants; expects a Rs. 200 Cr. order pipeline in 12 months.
  • Konstelec Engineers: Secured Rs. 6.99 Cr. electrical works order; focused on India's $10 trillion economy vision.
  • FOCE India: Approved raising ₹49 Cr. via rights issue; targeting growth through product diversification and supportive government policies.
Contents
1) Viviana Power Tech Limited2) Konstelec Engineers Limited3) FOCE India LimitedPast Coverages

1) Viviana Power Tech Limited

  • Business Overview – Company specializes in power transmission, distribution, and industrial EPC projects. They offer services like power transmission lines, EHV substations, testing, and commissioning. The company undertakes turnkey jobs for all types of electrical systems and caters to state government power utilities, private power entities, and renewable energy developers.
  • Recent Filings – Viviana Power Tech Limited has informed the exchange regarding allotment of 51,500 fully convertible warrants into Equity Shares having face value of Rs. 10/- each issued at the price of Rs. 625/- each on a preferential basis.
  • The allotment committee of the company have approved the allotment of 3,06,500 Equity Shares having face value of Rs. 10/- each issued at a price of Rs. 625/- per share on a preferential basis.
  • Outlook –
    • Company expects Rs. 200 Cr. Orders in Pipeline in the next 12 months.
    • Company targets Revenue income of Rs. 120-140 Cr. in FY25 from Power EPC.
    • Company’s targeting Rs. 7-8 Cr. Revenue in FY25 from Distribution Transformer Manufacturing.
  • 1Y Price Chart –

2) Konstelec Engineers Limited

  • Business Overview – Konstelec Engineers Pvt. Ltd. (KEPL) is an electrical and instrumentation engineering firm that specializes in offering detailed engineering services, turnkey contracts, and operations & maintenance (O&M) services. Their expertise covers electrical and instrumentation disciplines for a wide range of projects, including those in petrochemicals, chemicals, cement, textiles, as well as commercial complexes and hotels.
  • Recent Filings – Konstelec Engineers Limited has received an order of worth Rs. 6.99 Crores. for Supply Cum Erection of Electrical works from Talcher Fertilizers Limited, Odisha.
  • Recent Updates –
    • The Company is poised to capitalise on several transformative trends shaping India’s economic landscape.
    • The focus of the company will remain  on contributing to a robust manufacturing-led economy.
    • The shift towards a $10 trillion economy vision and the China+1 strategy further underscores the  commitment to expanding the market presence and enhancing the competitiveness.
  • Price Chart since listing –

3) FOCE India Limited

  • Business Overview – FIL is a part of Indian Horology Industry in the mid-range segment. It is an Authorized Distributor of Foce Watches in India. Company manufactures and imports wrist watches under various brand names with distribution across 1700 retail stores in the country along with clientele in corporate segment.
  • Recent Filings – Company approved the proposal of raising of funds for an aggregate amount not exceeding ₹49 Cr. on rights issue basis to the eligible equity shareholders of the company, through issuance and allotment of equity shares.
  • Recent Outlook –
  • FOCE India operates in the consumer electronics and accessories sector, which is witnessing strong demand growth due to rising digital penetration and lifestyle upgrades.
  • Continued focus on diversifying its product portfolio across electronics and consumer goods will help capture a larger share of the evolving market.
  • Supportive government policies for electronics manufacturing and the ‘Make in India’ initiative may provide long-term benefits.
  • 2Y Price Chart –

Past Coverages

Coverage Date Company LTP on Coverage Date Current LTP % change since coverage Recent Filings
1/08/24

PNGS Gargi Fashion Jewellery Ltd.

₹841

₹871

3.6%

EXCELLENT RESULTS

For Q1 FY24, sales surged 2.1x YoY to INR 13.7 Cr (INR 44 Cr under FOFO model), with profit before tax up 93% to INR 2.9 Cr.(01st August)

08/08/24

PG Electroplast Ltd.

₹423

₹572

35.2%

ORDER

On August 5, 2024, the company allotted 6,56,000 equity shares to the ‘PG Electroplast Limited Employees Welfare Trust’ under the 2020 Employee Stock Options Scheme.(08th August)

13/08/24

Hi-Tech Pipes Ltd.

₹162

₹187.9

16.0%

GOOD TO EXCELLENT RESULTS

For Q1 FY24, sales rose 35% YoY to INR 867 Cr, with net profit up 2.3x to INR 18 Cr. QoQ, sales increased 27%, and net profit jumped 64%. (13th August)

14/08/24

 Bondada Engineering Ltd

₹3250

₹700

0.3%

ORDER

For Q1 FY24, sales surged 2.2x YoY, and net profit jumped 3.6x. QoQ, sales were flat, while net profit declined 26%. (14th August)

8/07/24

Dynamic Services & Security Ltd

₹276

₹267

-3.3%

Share Repurchase Agreement

The company has agreed to repurchase 49% of Nacof Nithin Sai Green Energy’s shares from an existing shareholder.
           

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SOURCES:NSE India
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