Stock to Watch Today - Rupeedesk Reports - 19.06.2023
Buzzing Stocks: Dr Reddy's, Kalyan Jewellers, PNB Housing, Axiscades Tech, others in focus
Dr Reddy’s Laboratories: The US Food and Drug Administration (USFDA) completed a good manufacturing practice (GMP) inspection at company's API manufacturing facility in Bollaram, Hyderabad. The inspection was conducted during June 12 and June 16, and closed with zero observations. After inspection by the USFDA of the formulations facility in Srikakulam in May 2023, the company had received the Establishment Inspection Report (EIR). The USFDA has classified the said inspection as Voluntary Action Indicated (VAI).
HDFC Bank: Pursuant to the request by HDFC Bank, the Reserve Bank of India (RBI) has advised the lender that it may hold the commercial papers that were issued till date by HDFC, till their maturity. The bank should not roll over or reissue any commercial paper after the effective date of the proposed amalgamation. The bank will also approach the RBI with the crystalized amounts of all the liabilities of HDFC as of the effective date.
Adani Enterprises: Subsidiary Adani Digital Labs (ADL) has signed a Share Purchase Agreement for proposed acquisition of 100% stake in Stark Enterprises. Stark is also known as Trainman, an online train booking and information platform. The company has not disclosed the cost of acquisition.
Kalyan Jewellers India: The US-based private equity major Warburg Pincus backed Highdell Investment has sold 6.41 crore equity shares or 6.2% stake in the jewellery company at an average price of Rs 113.1 per share. Nomura India Investment Fund Mother Fund, Franklin Templeton Mutual Fund via Franklin India Flexi Cap Fund, and BNP Paribas Arbitrage were the buyers for some of those shares, acquiring 3.39 lakh shares or 3.3% stake in the company at same price
ABB India: The Kanpur Metro has deployed ABB India’s electrification solutions for safe, reliable and quality power distribution. ABB India has been contributing to Indian Metro systems by proving electrification solutions to 13 metro rail projects across India.
Kalpataru Projects International: The EPC company said the board members will meet on June 21 to consider the proposal for the raising of funds via issuance of non-convertible debentures on private placement basis.
PNB Housing Finance: The housing finance company said its board will consider issuance of non-convertible debentures worth Rs 5,000 crore on a private placement basis on June 22.
Axiscades Technologies: Axiscades will be in focus as its board members approved the 100% acquisition, in a phased manner, of add solution GmbH in Germany. add solution GmbH is specialized in automotive solutions to global OEMs. The acquisition will be carried out through subsidiary AXISCADES GmbH. The cost of acquisition is 5.50 million euro.
Gufic Biosciences: Gufic has received approval from National Medical Products Administration (NMPA), China for its product Prilocaine (API). This approval will help the company commercialise the said product in China and explore Chinese market. Prilocaine has a clinical profile similar to lidocaine and is used for infiltration, peripheral nerve blocks and spinal and epidural anaesthesia.
Piramal Pharma: Caisse De Depot Et Placement DU Quebec, the second largest pension fund in Canada, has sold 1.05 crore equity shares or 0.88% stake in the pharma company at an average price of Rs 94.48 per share, amounting to Rs 99.86 crore. Cassie De Depot held 5.53% stake or 6.59 crore shares in the company as of March 2023. However, investment advisor The Vanguard Group Inc AC Vanguard Total International Stock Index Fund acquired 62.02 lakh shares in the company at an average price of Rs 94.71 per share.
IKIO Lighting: Quant Mutual Fund via Quant Quantamental Fund has acquired 6.01 lakh shares and Quant Multi Asset Fund bought 6.02 lakh shares in the LED lighting solutions manufacturer via open market transactions, at an average price of Rs 409.08 per share.
IIFL Finance: DSP Mutual Fund has bought 50 lakh equity shares or 1.31% shareholding in the financial services company at an average price of Rs 500 per share. However, foreign company FIH Mauritius Investments was the seller in this deal.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc
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