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Adani Ports, Vakrangee, Vodafone Idea and other hot stocks to watch out for on December 16

<ul><li>At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note today, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was up 0.03%, indicating a flat start for Nifty50. On Wednesday, the US stocks dipped from its record levels on disappointing economic data and soaring COVID-19 cases. The Dow Jones Industrial Average closed 174 points lower, and the S&amp;P 500 was down 0.16%. These are the stocks to watch out for during the trading session today: <keyword id="135860" type="COMPANY" weightage="20" keywordseo="Lakshmi-Vilas-Bank">Lakshmi Vilas Bank</keyword> The Reserve Bank of India said the amalgamation of Lakshmi Vilas Bank with DBS Bank India would come into force from November 27 and the moratorium imposed on the crisis-ridden lender will be removed on that day. The National Stock Exchange (NSE) will suspend trading on the shares of the Lakshmi Vilas Bank (LVB) with effect from today. The shares of Lakshmi Vilas Bank ended 5% higher on Wednesday. <keyword id="2607288" type="PERSON" weightage="20" keywordseo="Future-Consumer">Future Consumer</keyword> The recently appointed CEO of Future Consumer, Rajnikant Sabnavis, has resigned from his position. The shares of Future Consumer ended 5% higher on Wednesday. <keyword id="2053975" type="COMPANY" weightage="20" keywordseo="Laurus-Labs">Laurus Labs</keyword> Drug firm Laurus Labs announced that it had signed definitive agreements with the Eight Roads Ventures, VenturEast Proactive Fund, and VenturEast Life Fund III to acquire 72.55% stake in biotech firm Richcore Lifesciences for a cash consideration of ₹246.67 crore. The shares of Laurus Labs ended 1.64% lower on Wednesday. <keyword id="51925" type="CITY" weightage="20" keywordseo="Union-Bank">Union Bank</keyword> The board of the state-owned Union Bank of India board has approved raising upto ₹6,800 crore during this fiscal to fund business growth. The shares of Union Bank of India ended 3% higher on Wednesday. Fine Organic Industries Fine Organic Industries Limited informed the exchanges that it had commenced operations at its newly opened company facility in Maharashtra. The shares of Fine Organic Industries ended 2.38% lower on Wednesday. <keyword id="556475" type="COMPANY" weightage="20" keywordseo="Vakrangee">Vakrangee</keyword> Vakrangee has withdrawn the amalgamation of its subsidiaries Vakrangee Logistics Private and Vakrangee Finserve with Vakrangee Limited. The company said its amalgamation scheme is presently pending with NCLT to seek appropriate directions. Still, there have been substantial changes in the business environment in the last few months, and the management of the company is of the opinion that, considering the present scenario, it would not be prudent to proceed with proposed amalgamation. The shares of Vakrangee ended 2% higher on Wednesday. <keyword id="134114" type="CITY" weightage="20" keywordseo="Kesoram-Industries">Kesoram Industries</keyword> BK Birla Group flagship Kesoram Industries said its consortium of lenders had given their in-principle approval to a resolution plan to raise funds and restructure debts. The total debt of the company currently stands at over ₹2,000 crore. The shares of Kesoram Industries ended 6% higher on Wednesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/us-stocks-dip-from-record-levels-on-disappointing-economic-data-and-soaring-covid-19-cases/articleshow/79418413.cms" data-type="tilCustomLink">US stocks dip from record levels on disappointing economic data and soaring COVID-19 cases</a> <a href="https://www.businessinsider.in/sports/news/diego-maradona-one-of-the-greatest-stars-in-soccer-history-has-died-at-the-age-of-60/articleshow/79414628.cms" data-type="tilCustomLink">Diego Maradona, one of the greatest stars in soccer history, has died at the age of 60</a>

Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

<ul><li><keyword id="556475" type="COMPANY" weightage="20" keywordseo="Vakrangee">Vakrangee</keyword>, a listed company, has announced that it will be building 75,000 EV charging stations in India by March 2022. </li><li>The company was earlier involved in making voter ID cards and also Aadhar cards. </li><li>It has also had a troublesome past with the Ministry of Corporate Affairs ordering an investigation into the audit books of the company.</li></ul>Vakrangee, a company that builds last-mile retail outlets for financial services companies, has announced that it will be building 75,000 <keyword id="381751" type="ORGANIZATION" weightage="20" keywordseo="Electric-vehicle">electric vehicle</keyword> recharging stations across India by 2021-22. The 29-year old listed company aims to achieve this number by building on its existing network of financial services outlets - Nextgen Vakrangee Kendras. According to reports, the company already has 3,504 outlets across 19 states, and 68% of them are in Tier 5 and Tier 6 towns of India. "Vakrangee plans to leverage this deep presence by being an enabler for the EV charging facility through its network of retail outlets called as Vakrangee Kendras. We continue to focus on expanding the bouquet of services available at our Nextgen Vakrangee Kendras," the company said in <a href="https://www.livemint.com/auto-news/vakrangee-to-set-up-electric-vehicle-ev-charging-stations-across-india-1563248254626.html">a statement.</a> The company that does it all? The company went through multiple pivots throughout its journey. It began as a technology company, and went on to make voter identity cards. With the Aadhar revolution, it became a franchise for producing Aadhar UID cards in 2010 and is also a logistics partner for Amazon India, Delhivery, FedEx. According to the company’s official website, it has gone “from being a sub-contractor and IT enabler for e-Governance projects to a prime bidder in e-Governance projects and further to a fully-integrated retail house offering BFSI, G2C and B2C services.” Market report In February 2018, Vakrangee’s stock price crashed by over 60% after the Ministry of Corporate Affairs ordered an investigation into its books. According to reports, market regulator SEBI was investigating it for alleged price and volume manipulation from 1 January 2016 to 30 June 2017. By the end of 2018, the <a href="https://www.business-standard.com/article/markets/vakrangee-hits-5-upper-circuit-as-govt-finds-no-irregularity-in-its-books-119011000208_1.html">company’s</a> stock price fell by 92%. However, after SEBI and MCA gave a clean chit to the company, its stock prices went up again. In <a href="https://www.business-standard.com/article/news-cm/vakrangee-sizzles-on-mulling-pan-india-ev-charging-infra-119071600227_1.html">May 2019</a>, its shares fell by 5% after the company posted a fall in profits. Vakrangee’s consolidated net profit fell by 91.5% in the last financial year end.

From Aadhaar cards to charging electric cars – Meet the Indian company that wants to do it all

<ul><li>A number of auditors are ending their relationship with clients amid high scrutiny from SEBI. </li><li>According to the Ministry of Corporate Affairs, the auditors of as many as 204 companies have submitted their resignations in the year so far. </li><li>In January 2018, SEBI slapped a two-year ban and fine on PwC for failing to report the corporate malfeasance at Satyam Computer Services.</li></ul>When it comes to <keyword id="6373268" type="TOPIC" weightage="20" keywordseo="Corporate-Governance">corporate governance</keyword>, India has seen its fair share of scams related to questionable business dealings, balance sheet discrepancies and embezzlement. The most recent debacle that comes to mind is that of ICICI Bank, the country’s largest private sector lender. The bank’s CEO, Chanda Kochhar, is currently being investigated over allegations of conflict of interest and misconduct. She reportedly allowed the extension of loans to Videocon Group, the former chairman of which had a business relationship with Kochhar’s husband. While India Inc has had a tenuous grasp of corporate governance standards, it has never seemed to be a problem for auditors who weren’t subject to very heavy regulatory scrutiny. Until now, that is. At the beginning of the year, the Securities and Exchange Board of India (SEBI) slapped <a href="https://www.livemint.com/Companies/KlbBm6VhxhQQswdgT9bycK/Satyam-case-Sebi-bans-PwC-entities-from-auditing-listed-fir.html">a two-year ban and a fine </a>against the Indian unit of PricewaterhouseCoopers (PwC) for failing to report and facilitating the corporate <keyword id="38935" type="PERSON" weightage="20" keywordseo="Fraud">fraud</keyword> at Satyam Computer Services, founded by the now-imprisoned Ramalinga Raju, which was revealed in 2009. While PwC is challenging the ban, the damage has been done. Auditors now have no choice but to recuse themselves in situations of corporate malfeasance for fear of reputational damage and punitive action. A mass exodus According to the data from the Ministry of Corporate Affairs, <keyword id="6359983" type="UNKNOWN" weightage="20" keywordseo="Accounting">accounting</keyword> firms of as many as 204 companies have submitted their resignations from the beginning of the year to 17 July. Around 75% of these resignations came in the corporate strongholds of Mumbai, Delhi, Kolkata and Ahmedabad. In comparison, only 16 auditors submitted resignations in 2017. In a number of cases this year - such as the resignation of Deloitte as the accountant for Manpasand Beverages Ltd - the resignation came days before the annual accounts were scheduled to be released owing to inadequate information. The resignations have not gone unnoticed by shareholders, based on the declining share prices of companies like <a href="https://www.google.co.in/search?ei=qdRWW5_PDIbavATQxbCQAg&amp;q=Vakrangee+Limited+share+price&amp;oq=Vakrangee+Limited+share+price&amp;gs_l=psy-ab.3..0l5.1607.3010.0.3104.13.9.0.1.1.0.337.1365.0j1j2j2.5.0....0...1c.1.64.psy-ab..8.5.1145...0i22i30k1j0i10k1.0.XUhs6OVQ2Ng">Vakrangee Ltd</a>, an IT services firm whose <keyword id="6437332" type="UNKNOWN" weightage="20" keywordseo="auditor">auditor</keyword> PwC quit at the end of January 2018. The Ministry of Corporate Affairs has initiated a formal investigation into this exodus and is looking to understand the underlying reasons. For its part, SEBI will continue its initiative to improve corporate governance standards across the country. At its <a href="https://www.sebi.gov.in/media/press-releases/mar-2018/sebi-board-meeting_38473.html">board meeting in March</a>, the regulator agreed to a number of reforms including the separation of the posts of CEO and chairman in listed companies and increasing the importance of audit committees. Earlier this month, it also released <a href="https://economictimes.indiatimes.com/markets/stocks/news/sebi-seeks-comments-on-fresh-norms-for-fiduciaries/articleshow/64995732.cms">a set of draft norms</a> giving it clear authority to act against accounting firms in cases of corporate fraud.

A spate of auditor resignations points to India Inc’s problems with corporate governance

The Reserve Bank of India (RBI) has authorised three non-banking financial companies (NBFCs) for setting up white label ATMs in order to increase financial inclusion. Certificates of authorisation have been issued to BTI Payments, SREI Infrastructure Finance and RiddiSiddhi Bullions, according to RBI. 
 
Most of the ATMs belong to banks but the cash-dispensing machines, which are owned and operated by non-banking companies, are called White Label ATMs (WLAs). 
 
These three will operate in addition to the four entities which are already authorised to function as WLAs, namely, Tata Communications Payment Solutions, Prizm Payment Services, Muthoot Finance and Vakrangee. 
 
In June 2012, the RBI had issued policy guidelines, allowing NBFCs to set up and operate WLAs. Earlier, only banks were allowed to set up and operate ATMs. 
 
The RBI said that the primary objective of allowing NBFCs to operate WLAs was to spread ATMs in semi-urban and rural areas.

RBI Authorises 3 NBFCs To Set Up White Label
ATMs

2015 seems to be a good year for Indian companies. Their growth has been as wide reached as never before. With 11 Indian companies ranked among top 200 Asia Pacific corporations in <keyword id="245051" type="COMPANY" weightage="100" keywordseo="Forbes-Asia">Forbes Asia</keyword>'s 'Best Under A Billion' list, India was ranked fourth on the list after <keyword id="5565" type="COUNTRY" weightage="20" keywordseo="South-Korea">South Korea</keyword> which has 17 firms in the coveted list. 

	The list covers public companies with annual revenue of $5 million to $1 billion, Forbes said, adding that they should also have positive net income and should be publicly traded for at least a year. 
 
 The Indian companies that made it to the list include <keyword id="2075166" type="UNKNOWN" weightage="20" keywordseo="avanti-feeds-ltd">Avanti Feeds Ltd</keyword>, Borosil Glass Works, Byke Hospitality, Caplin Point Laboratories, Centum Electronics, Kaveri Seed, Kitex Garments, NGL Fine-Chem, Orbit Exports, Premco Global and Vakrangee. 

	Of the 200 companies, 123 are new to the list, which underscores the "dynamism of the region's small and medium-sized sector", Forbes said. 
 

	Companies from mainland China &amp; Hong Kong (84) as well as Taiwan (36) dominated this year's list accounting for 60 per cent of the top 200 publicly-traded companies in the Asia Pacific region. 

	India and Malaysia both have 11 companies on the list while Australia has nine firms. This year, Japan dropped out of the top five countries, with only eight companies compared to 15 last year. 
 <keyword id="6356662" type="COUNTRY" weightage="20" keywordseo="Singapore">Singapore</keyword> and Thailand were represented by six companies each, while Pakistan had by 2 companies. "The secret to making the BUB is consistent growth in the measured performance metrics. One off year and you are out," Forbes Asia Editor <keyword id="2918973" type="UNKNOWN" weightage="20" keywordseo="Tim-Ferguson">Tim Ferguson</keyword> said, adding that "it is also important to have a good, liquid channel for public stock offerings". 
	 
	(image credits: dwavesys.com)

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Adani Ports, Vakrangee, Vodafone Idea and other hot stocks to watch out for on December 16

Rounak Jain

Top stocks to watch — Lakshmi Vilas Bank, Future Consumer, Laurus Labs, Union Bank, Vakrangee, Kesoram Industries, and others

Navdeep Yadav

From Aadhaar cards to charging electric cars – Meet the Indian company that wants to do it all

Sanchita Dash

A spate of auditor resignations points to India Inc’s problems with corporate governance

Dilsher Dhillon

RBI Authorises 3 NBFCs To Set Up White Label ATMs

BI India Bureau

11 Indian companies in Forbes Asia’s under a billion list

BI India Bureau

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