Stock to Watch Today - Rupeedesk Reports - 24.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks | Tata Steel, Petronet LNG, Rail Vikas Nigam, and others in the news today.
Lupin: Lupin receives tentative approval from US FDA for Obeticholic acid tablets. The pharma major has received tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA), Obeticholic acid tablets, which are a generic equivalent of Ocaliva tablets by Intercept Pharmaceuticals, Inc. Obeticholic acid tablets, which are available in 5 mg and 10 mg strength, had estimated annual sales of $255 million in the US as per IQVIA MAT data of December 2022.
Bharat Electronics: Ministry of Defence signs 2 contracts worth Rs 3,800 crore with Bharat Electronics. The Ministry of Defence has signed two contracts worth Rs 3,800 crore with Bharat Electronics (BEL), for the supply of medium power radar and digital radar warning receivers (RWR) for Indian Air Force.
Rail Vikas Nigam: Rail Vikas Nigam JV bags LOA for project worth Rs 252 crore in Gujarat. Rachana-RVNL joint venture has received LOA in EPC mode in Gujarat (Package-7), to upgrade the Sarkhej-Changodar section of NH-8A for the Ahmedabad-Bagodara-Rajkot road to six lanes with a paved shoulder. The project cost is Rs 252.2 crore. According to the deal, Rachana Construction will hold 60% of the share in the project whereas Rail Vikas Nigam's (RVNL) share will be 40%.
IDFC: IDFC shareholding in IDFC First Bank increases to 39.99%. IDFC FHCL, a subsidiary of IDFC, has received 37.75 crore equity shares of IDFC FIRST Bank on payment of the application money of Rs 2,196.30 crore to IDFC FIRST Bank. With this investment, IDFC's holding, through IDFC FHCL, in IDFC FIRST Bank will go up to 39.99%. In February 2023, the board of IDFC, and IDFC FHCL had approved subscribing to 37.75 crore shares of IDFC FIRST Bank on a preferential basis at a price of Rs 58.18 per equity share, through subsidiary IDFC FHCL.
Tata Steel: Tata Steel Advanced Materials becomes a direct wholly owned subsidiary of Tata Steel. The company has acquired the balance of 1.35 crore equity shares of Tata Steel Advanced Materials from Tata Steel Downstream Products at Rs 12.81 per share, amounting to Rs 17.33 crore. After this transaction, Tata Steel Advanced Materials has become a direct wholly owned subsidiary of Tata Steel. Prior to the transaction, Tata Steel directly held a 75.94% stake in Tata Steel Advanced Materials and the rest 24.06% was held by Tata Steel Downstream Products.
Asian Energy Services: Promoter entity buys 0.58% stake in Asian Energy Services. Promoter entity Oilmax Energy has acquired 2.21 lakh equity shares in Asian Energy Services, a company which provides services to the energy and minerals sector, via open market transactions. These shares were bought at an average price of Rs 104.84 per share.
Himadri Speciality Chemical: Himadri Speciality Chemical to sell 2 windmills in Maharashtra. The board has given its approval for the agreement for the sale of two windmills of the company at Dhule in Maharashtra. Keeping in view that the expected life of the Windmills will expire soon and accordingly, the company has considered selling windmills to Cleanwin Energy Nine LLP and Greenwin Energy One LLP. The sale of these windmills will have no material impact on the operations of the company.
Indiabulls Housing Finance: Indiabulls Housing Finance raises Rs 91.64 crore via non-convertible debentures. The housing finance company has raised Rs 91.64 crore as its Securities Issuance and Investment Committee had approved the allotment of 9.16 lakh non-convertible debentures for a face value of Rs 1,000 each for cash at par on a public issue basis.
Petronet LNG: Petronet LNG appoints G Krishnakumar as additional director. The company has appointed G Krishnakumar as Additional Director (nominee director of BPCL) on the board. Last week, he was appointed as Chairman & Managing Director of Bharat Petroleum Corporation.
Shreyas Shipping & Logistics: Shreyas Shipping & Logistics takes delivery of one container vessel. The company has taken delivery of one container vessel M.V. SSL Kaveri. This vessel is 2553 TEU (33,704 DWT), TEU being a twenty-foot equivalent unit.
Jayshree Chemicals: Jayshree Chemicals to sell windmill in Tamil Nadu. The company has received board approval for the sale of the windmill at Coimbatore in Tamil Nadu to Naruvizhi Powers for Rs 4.70 crore.
Anand Rathi Wealth: Promoter entity offloads 0.79% shares in Anand Rathi Wealth. Promoter entity Anand Rathi Financial Services has offloaded 3.3 lakh equity shares or 0.79% stake in the wealth advisory firm via open market transactions at an average price of Rs 810 per share, amounting to Rs 26.73 crore.
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US and Asian Market - 24.03.2023
