Stock to Watch Today - Rupeedesk Reports - 29.03.2023
Stock to Watch Today - Rupeedesk Report Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Vedanta, Zydus Lifesciences, GR Infraprojects and others in news today.
Vedanta: The mining company said its board of directors has approved the fifth interim dividend of Rs 20.50 per equity share on a face value of Re 1 per share for FY23, which amounted to Rs 7,621 crore. The record date for payment of dividend has been fixed as April 7. Meanwhile, Ajay Goel has resigned as the acting chief financial officer of the company effective from April 9, to pursue career outside of the Group.
Jindal Stainless: The stainless steel maker has entered into a collaboration agreement with New Yaking Pte Ltd for the investment in development, construction and operation of a nickel pig iron (NPI) smelter facility in Halmahera Islands, Indonesia. JSL will acquire a 49% equity interest in nickel pig iron company for $157 million. The facility is planned to be commissioned within 2 years, with an annual nameplate production capacity of up to 2 lakh metric tonnes of NPI with average 14% Ni Content.
Zydus Lifesciences: The pharma company has received the final approval for Loperamide hydrochloride capsules (USP 2 mg) from the US Food and Drug Administration (USFDA). Loperamide hydrochloride capsule is indicated for the control and symptomatic relief of acute nonspecific diarrhea and chronic diarrhea associated with inflammatory bowel disease. The drug will be manufactured at the group’s formulation manufacturing facility at SEZ, Ahmedabad.
REC: Subsidiary REC Power Development & Consultancy has transferred entire shareholding in Khavda II-A Transmission Limited, at par value along with all its assets and liabilities, to Adani Transmission. Adani Transmission is the successful bidder selected through tariff based competitive bidding process for 'transmission scheme for evacuation of 4.5 GW RE injection at Khavda P.S. under Phase-II - Part A.
NBCC (India): The company has secured work orders worth Rs 146.39 crore. The first order of Rs 46.39 crore is for construction of a hostel building, a boundary wall, and other works at Ghani Khan Choudhary Institute of Engineering and Technology (GKCIET) in Malda, West Bengal. The second order of Rs 100 crore is bagged from Small Industrial Development Bank of India (SIDBI) for various work of SIDBI buildings on a pan-India basis.
GR Infraprojects: The company has secured the letter of acceptance (LOA) from the East Coast Railway for kthe construction of tunnel work and allied works of Khurda - Bolangir new rail line project. The project is worth Rs 587.59 crore.
RPP Infra Projects: The company has received a letter of acceptance for a project - repair and construction works of old buildings for reopening of old district jail at Bareilly, Uttar Pradesh, on an EPC basis. The project worth Rs 148.08 crore is expected to be completed by October 31, 2024.
SML Isuzu: The company has decided to increase the prices of trucks and buses by up to 4% and 6%, with effect from April 1, to cover the increase in input prices due to new compliances - BS6 Integrated On-Board Diagnostic II (IOBD-II) and Electronic Stability Control (ESC) for buses, being implemented with effect from April 1, 2023.
Asian Energy Services: Promoter entity Oilmax Energy has acquired an additional 2.14 lakh equity shares or 0.56% stake in Asian Energy Services, the services provider to the energy and minerals sector, at an average price of Rs 99.4 per share. On March 23, Oilmax had bought 0.58% stake at an average price of Rs 104.84 per share.
Kalyan Jewellers India: Mauritius-based Highdell Investment, owned by New York-based private equity investment firm Warburg Pincus, has sold 2.33 crore equity shares or 2.26% shareholding in the jewellery maker at an average price of Rs 110.04 per share, which amounted to Rs 256.67 crore.
Shalby: Ace investor Porinju Veliyath-owned Equity Intelligence India has bought 6.1 lakh shares in the multispecialty hospitals chain or 0.56% stake at an average price of Rs 117 per share.
Shilpa Medicare: Foreign portfolio investor India Opportunities Growth Fund Ltd - Pinewood Strategy has sold 5 lakh shares or 0.57% stake in the pharmaceutical firm via open market transaction, at an average price of Rs 225.3 per share. The fund had 1.66% stake in the company as of December 2022.
CE Info Systems: Foreign firm Zenrin Co Ltd has sold 8 lakh shares or 1.49% stake in the MapmyIndia operator via open market transactions at an average price of Rs 1,000.05 per share, which amounted to Rs 80 crore. Zenrin held 6.16% stake in C E Info Systems as of December 2022.
South Indian Bank: The board has considered the request of Murali Ramakrishnan, Managing Director & CEO, not to offer himself for re-appointment due to personal reasons. Murali will complete his current term on September 30, 2023. The Search Committee will identify and evaluate suitable candidates for the position of Managing Director & CEO.
Inox Wind Energy: Inox Wind Energy has received board approval for approved the sale of wind energy business, to its holding company, Inox Leasing and Finance, by way of slump sale through business transfer agreement, for Rs 17 crore. Inox Leasing and Finance currently holds 51.82% shares in Inox Wind Energy.
IFCI: The board has given its approval for preferential issue of equity share capital for FY23, worth Rs 400 crore to the Government of India.
DB Corp: The company has appointed Lalit Jain as Chief Financial Officer with effect from April 1, 2023 after Pradyumna Mishra retired as the Group Chief Financial Officer on March 31, 2023.
Apollo Tyres: The tyre manufacturer has approved the incorporation of a wholly owned subsidiary, to create an online D2C (direct to customer) platform. The platform will make passenger vehicle aftermarket services on site for convenience of customers.
Dev Information Technology: The company has secured an order from National Informatics Centre Service Inc. for Ministry Of Electronics and Information Technology for its project – Lok Sabha Secretariat, for design, development, implementation and maintenance of its application software and website.
NHPC: The hydro power generation company has received board approval for raising of debt upto Rs 5,600 crore in FY24 through issuance of non-convertible corporate bonds in one or more series or tranches on private placement basis, and/ or raising of term loans/ external commercial borrowings (ECB) in suitable tranches.
Fortis Healthcare: The board members have approved appointment of Mehmet Ali Aydinlar, and Tomo Nagahiro as additional directors (non-executive & non-independent) of the company with effect from March 28. However, Takeshi Saito, and Dr. Farid Bin Mohamed Sani have resigned as non-executive & non-independent directors of the company.
Larsen & Toubro: The infrastructure major has issued 2 lakh non-convertible debentures of Rs 1 lakh each, amounting to Rs 2,000 crore. The said debentures, which will mature on April 28, 2028, are proposed to be listed on the National Stock Exchange of India.
DCB Bank: The bank has announced allotment of Basel III compliant Tier II bonds of face value of Rs 1 crore each, on a private placement basis, amounting to Rs 300 crore. The bonds will be redeemed on its original maturity of 10 years. The fund raising will support the business growth and also further improve the capital adequacy of the bank.
KEI Industries: The electrical wires and cables manufacturer has become Principal Partner with Royal Challengers Bangalore, for the Indian Premier League (IPL) for three years. The association will help KEI Industries strengthen its growing brand and business presence nationally.
RHI Magnesita India: The refractory products supplier said the board on April 1 will consider raising of Rs 200 crore funds via issue of equity shares to its promoters.
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