Stock to Watch Today - Rupeedesk Reports - 30.06.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: HDFC Life, MCX, Adani Enterprises, Zydus Life, BPCL and others in news.
HDFC Life Insurance Company: Promoter Housing Development Finance Corporation has bought additional 1.65 crore equity shares or 0.77% stake in the life insurance company through open market transactions at an average price of Rs 674.87 per share. The stake buy was worth Rs 1,118.84 crore.
Adani Enterprises: Promoter entity SB Adani Family Trust has sold 1.8 crore equity shares or 1.57% stake in the company via open market transactions at an average price of Rs 2,300 per share. The stake sale was amounted to Rs 4,140 crore. Gautam S Adani and Rajesh S Adani on behalf of SB Adani Family Trust held 59.13 crore shares or 51.87% stake in the company as of March 2023.
Adani Green Energy: Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund has bought an additional 1.19 crore equity shares or 0.75% stake in the renewable energy company via open market transactions at an average price of Rs 920.05 per share. However, promoter group entity Infinite Trade and Investment Ltd sold 4.6 crore shares or 2.9% stake in the firm at an average price of Rs 920.03 per share.
Tata Communications: The Tata Group company has entered into an agreement to acquire US-based Kaleyra Inc which has subsidiaries in United States of America, Italy, India, UAE, Germany, UK, Dominican Republic, Mexico, Africa and Canada. Kaleyra, which provides mobile communication services, will give direct opportunity for Tata Communications to expand its CPaaS business on a global scale. The acquisition is expected to be completed within 6-9 months and the purchase consideration of $7.25 per share will be in cash only. The aggregate consideration is expected to be around $100 million.
Canara Bank: The public sector lender has received the board approval for its capital-raising plan for FY24, amounting up to Rs 7,500 crore, through debt Instruments. The bank will raise capital through Basel III compliant additional Tier I bonds to the extent of Rs 3,500 crore and additional Tier II bonds to the extent of Rs 4,000 crore during FY24.
Zydus Lifesciences: The pharma company has received tentative approval from the US Food and Drug Administration (USFDA) for Palbociclib tablets, which are available in 75 mg, 100 mg, and 125 mg strengths. Palbociclib is used to treat a certain type of breast cancer. The product will be manufactured at the group’s formulation manufacturing facility in SEZ, Ahmedabad. Palbociclib had annual sales of $3.3 billion in the US as per IQVIA MAT April 2023.
Bharat Petroleum Corporation: The oil marketing company has received approval from its board of directors for raising capital up to Rs 18,000 crore. This capital will be raised from the issue of equity shares on rights issue basis to eligible equity shareholders of the Corporation.
Power Grid Corporation of India: The state-owned electric services company has received board approval for three investment proposals worth Rs 389 crore. The company will invest Rs 164.38 crore for establishment of dedicated telecom network for NTAMC, Rs 115.09 crore for Western region expansion scheme – XXXIII – Part A and Rs 109.47 crore for ICT augmentation at Navsari (new) associated with integration of additional 7 GW RE power from Khavda RE park under Phase-III.
Madhucon Projects: The company said the board has announced the appointment of Sambasiva Rao as an additional director for finance and accounts, with effect from June 28. And Geeta Battula will be an independent director with effect from June 28 for five years. She will not liable to retire by rotation.
SBI Life Insurance Company: The life insurance company has announced board approval for re-appointment of Mahesh Kumar Sharma as MD and CEO.
Global Surfaces: Leading Light Fund VCC the Triumph Fund sold 6.25 lakh shares or 1.47% shareholding in engineered quartz stone supplier at an average price of Rs 204.16 per share. Leading Light Fund VCC the Triumph Fund had held 4.57% stake or 19.36 lakh shares in Global Surfaces as of March 2023.
Syrma SGS Technology: South Asia Growth Fund II Holdings LLC has offloaded 10.37 lakh shares or 0.58% stake in the electronics manufacturing services and solutions provider. The average selling price was Rs 460.47 per share. As of March 2023, South Asia Growth Fund held 1.06 crore shares or 6.02% shareholding in Syrma SGS.
ICRA: Sushmita Ghatak has resigned as Managing Director & CEO of ICRA Analytics. The company is in the process of identifying the successor for the said position. ICRA Analytics is a material subsidiary of ICRA.
Sanghi Industries: The company has resumed its operations at cement plant in Kutch, Gujarat. The operations at plant were halted due to cyclone Biparjoy.
ICICI Securities, and ICICI Bank: ICICI Bank said the board members have approved the draft scheme of arrangement for delisting of equity shares of ICICI Securities. The public shareholders of ICICI Securities will get 67 equity shares of the bank for every 100 shares held by them in ICICI Securities. As a result, ICICI Securities will become a wholly-owned subsidiary of the bank. The said transaction is expected to be completed within 12-15 months.
63 Moons Technologies and MCX India: MCX has decided to extend the support services deal with existing software vendor, 63 Moons Technologies, for its trading and clearing platform, for six months with effect from July 1, 2023. The services cost is Rs 125 crore per quarter.
IndusInd Bank: The board members of the bank have approved an appointment of Vivek Bajpeyi as the Chief Risk Officer of the private sector lender with effect from June 28, 2023 till September 30, 2025. Further, the board appointed Arun Khurana, who is currently the deputy CEO, as an executive director i.e. whole-time director of IndusInd Bank for three years.
KNR Constructions: Subsidiary KNR Kaveri Infra has signed concession agreement for construction of access controlled four laning road project with National Highways Authority of India (NHAI). KNR Kaveri Infra has been incorporated for implementation of construction of access controlled four laning with paved shoulder from Mysore to Kushalnagara section, on Hybrid Annuity Mode under NH(O) in Karnataka.
Edelweiss Financial Services: The company said its Debenture Fund Raising Committee has approved the public issue of non-convertible debentures of the face value of Rs 1,000 each for amount up to Rs 150 crore with an option to retain oversubscription up to Rs 150 crore, aggregating up to Rs 300 crore (Tranche III issue). The Tranche III issue will remain open for subscription during July 4 and July 17.
Advanced Enzyme Technologies: Promoter entity Advanced Vital Enzymes has sold 25.5 lakh equity shares or 2.28% stake in the company at an average price of Rs 270.08 per share. However, ICICI Prudential Mutual Fund bought 10 lakh shares or 0.89% stake at an average price of Rs 270 per share.
Shalimar Paints: Mohit Kumar Donter has resigned as Chief Financial Officer of the paint company with effect from June 30 due to personal reasons. The board members have appointed Davinder Dogra as the chief financial officer of the company effective from July 1, and also appointed Atul Rasiklal Desai as an Additional Director for three consecutive years with effect from June 28.
Aurobindo Pharma: Subsidiary Auro PR Inc based at Caguas, Puerto Rico, is undertaking a restructuring of its facility to enhance production volume, after completion of commitment for product supply to third party by early July 2023. As a result, Auro PR will not be conducting any manufacturing activity until the repairs / restructuring is complete. During the previous year, Auro PR Inc contributed 1.76% to the consolidated turnover of the company.
Zim Laboratories: The pharma company announced strategic investments in Australia and the MENA region to expand its presence in developed and pharmerging markets. For Australia and New Zealand markets, ZIM approved an investment in a local startup company for new innovative products (NIP) and oral thin films (OTF). In the MENA region, ZIM's subsidiary, ZIM Laboratories FZE, Sharjah, will invest and partner with a local experienced business entrepreneur.
Kesar Enterprises: The operations of distillery division of the company for the season 2022-23 have been closed on June 28, 2023.
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