Stock to Watch Today - Rupeedesk Reports - 26.06.2023
Buzzing Stocks: Ipca Lab, RVNL, Asian Paints, HDFC Life and others in news today.
Asian Paints: The paint manufacturer has acquired additional 11% equity stake in Obgenix Software (brand name White Teak) for Rs 54 crore, from promoters Pawan Mehta, and Gagan Mehta. The company now holds 60% stake in White Teak, up from 49% earlier and as a result, White Teak has become a subsidiary of Asian Paints.
Axis Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 30 lakh on Axis Bank for violation of credit card rules.
Ipca Laboratories: The US Food and Drug Administration (US FDA) has issued Form 483 with 8 observations for company's Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA inspected the facility during June 15-June 23, 2023.
Rail Vikas Nigam: The state-owned railway company has emerged as the lowest bidder a project of design and construction of elevated metro viaduct, from Maharashtra Metro Rail Corporation. The cost of project is Rs 394.9 crore and the project is expected to be executed in 30 months.
Yes Bank: The private sector lender has received board approval for raising funds in Indian/foreign currency up to Rs 2,500 crore via issue of debt securities.
Grasim Industries: The Aditya Birla Group company said the Finance Committee of the Board of Directors has approved the issue of non-convertible debentures on private placement basis, for an amount up to Rs 2,000 crore, in one or more tranches.
Balasore Alloys: The board members have inducted Rajendra Kumar Parakh as additional director till next AGM, and appointed him as Managing Director of the company with effect from June 23, which is subject to shareholders' approval. Akula Nagendra Kumar has resigned as Managing Director of the company with effect from same date.
Cambridge Technology Enterprises: The IT firm has received board approval for acquisition of US-based Appshark Software Inc for Rs 41 crore. Appshark is primarily engaged in salesforce consulting and custom software development. The acquisition is expected to be completed by March 2026. It also acquired RP Web Apps for Rs 3 crore and it is expected to be completed by July 30, 2023.
AU Small Finance Bank: The small finance bank said the board members will meet on June 29 to consider raising of funds by issue of equity shares or debt instruments. The board would also consider convening annual general meeting and fix record date for dividend recommended by the board in April 2023.
Jammu & Kashmir Bank: The Reserve Bank of India has imposed a monetary penalty of Rs 2.5 crore on Jammu and Kashmir Bank for non-compliance with certain directions related to creation of a central repository of large common exposures-across banks.
HDFC Life Insurance Company: The Insurance Regulatory and Development Authority of India (IRDAI) has granted its approval for transfer of shares of HDFC Life, from HDFC to HDFC Bank in view of the proposed amalgamation between HDFC and HDFC Bank. IRDAI also granted approval for HDFC to acquire additional shares in HDFC Life, so the holding to be more than 50% of its total share capital.
Bank Of Maharashtra: The Reserve Bank of India has imposed a monetary penalty of Rs 1.45 crore on the bank for non-compliance with certain provisions related to loans and advances.
Godrej Properties: The real estate developer has acquired approximately 15 acres of land in Gurugram, Haryana through an outright purchase, for the development of premium residential apartments.
*Data Source : Govt, Nse ,Bse, Private News Channels and Websites Etc