Stock to Watch Today - Rupeedesk Reports - 22.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Tata Motors, SBI Cards, Emami, and others in the news today.
Tata Motors: The country's largest commercial vehicle manufacturer will plans up to 5% price hike for its commercial vehicles starting April 1. The decision is a result of the company's efforts to comply with the more stringent BS6 Phase-II emission norms.
Ashiana Housing: The company crossed its annual booking value guidance of Rs 1,100 crore for the year 2022-23 this month. The total booking value for FY23 (up to March 20) stood at Rs 1,278.84 crore with a booking area of 25.21 lakh square feet. It has also received 351 expression of interest (EOIs) in phase 2 of 'Ashiana Amarah' project at Gurugram (Haryana), which consists of 224 units with a saleable area of 3.77 lakh square feet and the tentative sale value stood at Rs 290 crore. The conversion of EOI into booking will commence in April 2023.
Cholamandalam Investment and Finance Company: The Board of Directors of the company has appointed Ajay Bhatia as the chief risk officer of the company for three years effective April 1, in place of Shankar Subramanian. Shankar completes his term on March 31.
Pidilite Industries: Subsidiary Pidilite Ventures (PVPL), formerly known as Madhumala Ventures, has agreed to make further investment of up to Rs 13.03 crore in tranches over a period of time, in Finemake Technologies. Finemake will deliver technology-driven high-quality home interior products. The investment would be completed by subscribing to compulsorily convertible preference shares of Finemake. After conversion of preference shares and considering the existing shareholding, total shareholding of PVPL in Finemake will remain less than 45% on a fully diluted basis.
HG Infra Engineering: The company has declared as L-1 bidder by DYCE-C-CNB-Engineering/ North Central Railway for redevelopment of Kanpur Central railway station at Kanpur on engineering, procurement and construction mode in Uttar Pradesh. The project bid cost is Rs 677 crore and the construction period for said project is 36 months.
SBI Cards and Payment Services: The board of directors of the company has declared an interim dividend of Rs 2.50 per share (face value of Rs 10 per share) for the financial year 2022-23. The record date for determining the entitlement of payment of interim dividend is March 29.
Asian Energy Services: The company has received Letter of Acceptance from Svetah Energy Infrastructure FZE, UAE. The order includes operations and maintenance works (O&M) of the floating production storage and offloading system named Svetah Venetia, to be deployed for production of oil and gas in the offshore area near Puducherry. The estimated value of Letter of Acceptance is around $20 million (Rs 165 crore).
Emami: The board of directors will meet on March 24 to consider a proposal for buyback of equity shares of the company.
Zydus Lifesciences: Zydus has received final approval for Tofacitinib tablets, 5 mg and tentative approval for Tofacitinib tablets, 10 mg from the US Food and Drug Administration (USFDA). Tofacitinib is indicated for the treatment of adult patients with moderately to severely active rheumatoid arthritis and for the treatment of adult patients with active psoriatic arthritis.
Compucom Software: The company has received Letter of Acceptance from Rajasthan Council for School Education (a Government of Rajasthan Undertaking), for the order worth Rs 18.27 crore. The order includes supply and installations of computer systems, thin client, VC system, UPS and networking, electrification with 5 years on-site comprehensive warranty under ICT Schools scheme.
Samvardhana Motherson International: The auto ancillary company has completed acquisition of remaining 50% stake in Fritzmeier Motherson Cabin Engineering on March 20. The company intimated exchanges on March 16 about acquisition of remaining 50% stake in Fritzmeier Motherson Cabin Engineering from F Holdings GmbH, Austria.
BL Kashyap and Sons: The civil engineering and construction company has secured new order from domestic unrelated client 'Railways Land Development Authority' worth Rs 313 crore. The project includes development of Bijwasan railway station is expected to be completed within 15 months from the date of award. Company's total order book as on date stands at Rs 2,402 crore.
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