Stock to Watch Today - Rupeedesk Reports - 09.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Bharat Forge, Kirloskar Oil, Ramkrishna Forgings and others in news today.
Bharat Forge: The leading forging company has announced its E-bike manufacturing facility at MIDC Chakan, Pune, through its wholly owned subsidiary Kalyani Powertrain. The facility has a production capacity of 60,000 units per annum and scalable to 1 lakh units per annum, will undertake assembly of E-bikes for Tork Motors, where 64.29% is owned by Kalyani Powertrain.
Kirloskar Oil Engines: Ten investors have picked up 13.65% stake in the engineering, power generation and solutions company through open market transactions, at an average price of Rs 322 per share, amounting to Rs 636 crore. Three promoters have offloaded 17.7% stake in the company.
Ramkrishna Forgings: The forging company has incorporated a wholly owned subsidiary RKFL Engineering Industry to implement the resolution plan under Corporate Insolvency Resolution Process (CIRP) for acquisition of JMT Auto. RKFL Engineering is going to engage in the business of forging, pressing, stamping, and roll forming of metal and powder metallurgy.
Jindal Stainless: iShares Core MSCI Emerging Markets ETF has picked up 33.69 lakh equity shares (0.64% stake) in the stainless steel company through open market transactions, at an average price of Rs 309.42 per share. These shares are worth Rs 104.3 crore.
Shoppers' Stop: Headquartered in Singapore, Shiseido Asia Pacific Pte Ltd has signed a strategic distribution partnership agreement with Global SS Beauty Brands, a subsidiary of Shoppers Stop, to expand its brand footprint in India. Through the partnership, Shiseido Group will launch its global make-up brand, NARS Cosmetics (headquartered in New York), in second half of 2023 in key cities in India. Japan-based Shiseido Company has skincare, make-up and fragrance brands including SHISEIDO, NARS, Drunk Elephant, Clé de Peau Beauté, Narciso Rodriguez, Issey Miyake and Serge Lutens, amongst others.
SeQuent Scientific: The company has terminated the share purchase agreement to acquire 100 percent shareholding in Tineta Pharma. In November 2022, it had announced the acquisition of Tineta Pharma, but the transaction has not been materialised yet. Therefore, the company will not acquire Tineta and the Share Purchase Agreement entered by the company with Tineta and its promoters stands terminated.
Arunjyoti Bio Ventures: The company is in the process of setting up two beverages plants in Telangana and Andhra Pradesh.
ISMT: R Poornalingam has resigned as an independent director of the company, with effect from March 8. He resigned due to personal reasons.
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