Stock to Watch Today - Rupeedesk Reports - 17.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Hindustan Aeronautics, Zee Entertainment, Voltas, and others in news today.
Zee Entertainment Enterprises: Zee Entertainment Enterprises, Indian Performing Right Society settle disputes & claims. The media & entertainment company, and Indian Performing Right Society (IPRS) have mutually entered into the settlement agreement, and hence all disputes and claims have been settled between them. Accordingly, IPRS agreed to withdraw the insolvency petition filed by them. There is no penalty paid and no material impact on the financial position of the company.
Glenmark Pharmaceuticals: Glenmark Pharma arm gets USFDA nod for IND application of solid tumours & lymphomas drug Phase 1/2. Glenmark Specialty SA, the subsidiary of Glenmark Pharmaceuticals has received acceptance from US Food and Drug Administration (FDA) on its investigational new drug (IND) application for GRC 54276 to proceed with a Phase 1/2, for the treatment of patients with advanced solid tumors and lymphomas. GRC 54276 is an orally available, small molecule hematopoietic progenitor kinase 1 (HPK1) inhibitor developed by Glenmark.
Himatsingka Seide: Himatsingka Seide to consider opening $12.5 million FCCBs, Rs 460 crore NCDs issues, on March 21. The board on March 21 will consider opening the issue of foreign currency convertible bonds (FCCBs) amounting to $12.5 million and the issue of non-convertible debentures (NCDs) worth Rs 460 crore, to International Finance Corporation.
IRCON International: IRCON International has furnished a corporate guarantee to SBICAP Trustee Company for providing the term loan of Rs 447.61 crore from the State Bank of India to IrconHBL, special purpose vehicles (SPVs) & wholly owned subsidiaries.
Hindustan Aeronautics: Defence Ministry clears proposals to buy weapons worth Rs 70,000 crore, HAL bags almost 50% of orders. In the meeting of the Defence Acquisition Council, Defence Minister Rajnath Singh approved proposals to procure Rs 70,000 crore worth of different weapon systems for the Indian defence forces. The deal includes the purchase of 60 UH Marine choppers from Hindustan Aeronautics Limited (HAL), worth Rs 32,000 crore.
Lemon Tree Hotels: The company has signed a License Agreement for a 60 rooms property in Sri Ganganagar, Rajasthan under the brand 'Lemon Tree Hotels'. The hotel is expected to be operational by July, 2026. Subsidiary Carnation Hotels will be operating this hotel.
Voltas: Voltas subsidiary UMPESL bags orders worth Rs 1,770 crore for power distribution and solar projects. Its subsidiary Universal MEP Projects & Engineering Services (UMPESL) has bagged multiple SITC project orders worth Rs 1,770 crore in the electrical power distribution business for FY23, including a solar power project.
Infosys: Infosys Finacle implements a global liquidity management system for ABN AMRO’s corporate customers. Its subsidiary Infosys Finacle, part of EdgeVerve Systems, has implemented its liquidity management solution for ABN AMRO's corporate customers. The bank will now be able to provide its customers with a single point of access to better manage their global commercial cash flows securely from anywhere and on any device of their choice.
Dr Reddy's Laboratories: Dr Reddy's divests certain non-core brands in dermatology to Eris Lifesciences for Rs 275 crore. The pharma major has signed a deal to divest certain non-core brands in the dermatology segments to Eris Lifesciences. Eris Lifesciences will get the trademark of these brands for Rs 275 crore. As per IQVIA MAT December 2022, the divested portfolio saw sales of Rs 60 crore in India.
Tata Consultancy Services: Tata Consultancy Services' MD & CEO Rajesh Gopinathan resigns. Rajesh Gopinathan has resigned as Chief Executive Officer and Managing Director of the country's largest IT services exporter, which will be effective from September 15, 2023. K Krithivasan is appointed as the CEO Designate with effect from March 16. He will take over as the CEO and MD of TCS in the next financial year, subject to shareholders' approval.
IndiaMART InterMESH: IndiaMART InterMESH to divest entire 30% stake in Ten Times Online. The company has entered into a share purchase agreement to disinvest its entire 30% stake in Ten Times Online by selling 18,701 equity shares for Rs 12.1 lakh. Pursuant to the sale of equity shares, Ten Times would cease to be an associate of the company.
Bajaj Finance: Bajaj Finance appoints Arindam Bhattacharya as an independent director; Anup Saha and Rakesh Bhatt as Executive Directors. The company has appointed Dr Arindam Bhattacharya as an independent director on its board for five years with effect from April 1, 2023. The non-banking finance company also appointed Anup Saha and Rakesh Bhatt as Executive Directors on the board for five years with effect from April 1. Saha and Bhatt are presently the Deputy Chief Executive Officers of Bajaj Finance and members of the company's executive management team.
Rail Vikas Nigam: Rail Vikas Nigam emerges as L1 bidder for projects worth Rs 112 crore. The state-owned railway company has emerged as the lowest bidder (L1) for projects worth Rs 111.85 crore. The scope of work includes supply, installation, testing and commissioning of an 11-KV line, and associated works in various circles of MPPKVVCL, Jabalpur company area.
Lyka Labs: Ipca Labs' shareholding in Lyka Labs increases to 32.46% after the allotment of 20 lakh equity shares. The company announced the allotment of its 20 lakh equity shares to Ipca Laboratories at Rs 139.50 per share on a preferential basis on March 15. It has also allotted 50 lakh warrants and each warrant is convertible into one equity share of Lyka Labs at Rs 139.50 per share, within a period of 18 months from the date of allotment of warrants at the option of the allottee. With this, Ipca Labs' shareholding in Lyka Labs increased to 32.46% from 27.76% earlier.
Glenmark Life Sciences: Glenmark Life Sciences declares a dividend of Rs 21 per share for FY23. The board of directors has declared an interim equity dividend of Rs 21 per share (face value Rs 2 per share) for the financial year 2022-23. The record date for determining the list of shareholders for payment of the dividend has been fixed as March 24 and the said dividend will be paid to such shareholders on or after March 29.
Samvardhana Motherson International: Samvardhana Motherson International's arm incorporates subsidiary Motherson Electronic Components. Subsidiary Samvardhana Motherson Innovative Solutions has incorporated a wholly-owned subsidiary, Motherson Electronic Components. Motherson Electronic Components will carry on the business of manufacturing, design, development, assembly, marketing, sale of components, materials etc. and will be a vehicle for exploring new businesses for its further expansion.
Jubilant Ingrevia: Jubilant Ingrevia buys 37.98% stake in associate company Mister Veg Foods. The company has acquired a 37.98% stake in its associate company Mister Veg Foods for Rs 2.12 crore. This investment is towards potential synergies with the nutrition business of the company.
Transport Corporation of India: HDFC Mutual Fund picks an additional 2.04% stake in Transport Corporation of India. HDFC Mutual Fund through several schemes bought an additional 2.04% stake or 15.78 lakh shares in the company via open market transactions on March 14. With this, the shareholding of the fund house increased to 7.7%, from 5.66% earlier.
Bajaj Healthcare: Luke Fernandez resigns as an independent director of Bajaj Healthcare. Luke Fernandez resigned as a non-executive independent director of the company with effect from March 16 due to his health issue and other professional commitments. There is no other material reason for resignation.
Lloyds Metals and Energy: Lloyds Metals and Energy appoints Subbarao Venkata Munnang as an independent director on the board. Subbarao Venkata Munnang is appointed as an additional independent director on the company's board, with effect from March 16. Earlier he was the Chairman-cum-Managing Director of PSU company KIOCL.
Punjab Chemicals and Crop Protection: Punjab Chemicals and Crop Protection appoints Ashish Nayak as Chief Financial Officer. The company has appointed Ashish R Nayak (who was deputy Chief Financial Officer - CFO), as Chief Financial Officer with effect from March 16. Sriram Swaminathan ceased to be the CFO due to attaining the age of superannuation/retirement.
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