Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Titan, Maruti Suzuki, PNB, Indian Oil, Dr Reddy's and others in news.
Mazagon Dock Shipbuilders: The state-owned shipping company has signed a Letter of Intent (LOI) with an European client for the construction of six firms and four optional units of 7,500 DWT multi-purpose hybrid power vessels. The prices for the units would be firmed up at the time of contract signing.
Indian Oil Corporation: The state-owned oil retailer has appointed Anuj Jain as Director (Finance) with effect from October 9. Jain has over 27 years of experience in the fields of finance, taxation, and commercial aspects of the oil and gas industry. Sanjay Kaushal has ceased to be the CFO of the company.
Indian Overseas Bank: The government has appointed Dhanaraj T as Executive Director of Indian Overseas Bank for three years, with effect from March 10, 2024. Dhanaraj T is the chief general manager of Indian Bank.
Punjab National Bank: The central government has appointed Bibhu Prasad Mahapatra as executive director on the board of Punjab National Bank with effect from October 9. Mahapatra was the chief general manager of the bank.
Hindustan Zinc: The company has received an order from the Assistant Commissioner, CGST, Udaipur, imposing a penalty of Rs 1.81 crore for the period July 2017 to March 2018. The order has been passed on the contention that the company had wrongly availed input tax credit.
Bank of Baroda: The government has appointed Lal Singh as Executive Director of the bank for three years, with effect from October 9. Lal Singh was the chief general manager at Union Bank of India.
Central Bank of India: The government has appointed Mahendra Dohare as Executive Director on the board of the bank, with effect from October 9. Mahendra Dohare was the Chief General Manager at Punjab National Bank.
IDFC First Bank: The bank has entered into an agreement with the National Securities Depository (NSDL) for the sale of its premises at Naman Chambers, BKC, Mumbai, as a part of the consolidation of its operations near its corporate office. The bank sold office premises for Rs 198 crore.
Union Bank of India: The Central Government has appointed Sanjay Rudra as Executive Director of the bank, with effect from October 9. Sanjay Rudra was the general manager at the Bank of Maharashtra.
Titagarh Rail Systems: The board members of the company have constituted a board-level committee styled “Talent and Leadership Pipeline Development Committee”, which is chaired by KK Jalan.
Maruti Suzuki India: The company has received a show cause notice from the customs department. The department has accused the company of evading customs duty amounting to Rs 16.27 lakh by wrongly availing of the basic customs duty concession based on the end use of the imported goods.
Dr. Reddy’s Laboratories: Subsidiary Dr. Reddy’s Laboratories, Inc., along with several other pharmaceutical companies, was named as a defendant in a complaint filed on October 6 in the United States District Court for the Northern District of California. The complaint, filed by Mayo Clinic and Lifepoint Corporate Services, asserts claims under federal and state antitrust laws and other state laws alleging that the defendants improperly restrained competition and maintained a shared monopoly in the sale of brand and generic Revlimid through their respective settlements of patent litigation. The complaint alleges that the challenged agreements improperly delayed generic entry entirely until 2022 and then improperly limited generic competition through 2026. The complaint seeks damages for purported overpayments and equitable relief. Dr. Reddy’s maintains that the allegations against it lack merit and will vigorously defend the litigation.
UCO Bank: The government has appointed Vijaykumar Nivrutti Kamble as Executive Director of the bank with effect from October 9. Vijaykumar Nivrutti Kamble was the general manager at the Bank of Maharashtra.
Container Corporation of India: The state-owned company reported a 26.13% year-on-year growth in domestic volumes at 2.61 TEUs (twenty feet equivalent) for the quarter ended September FY24, and EXIM volumes grew by 3.50% to 9.69 TEUs. Total volumes jumped 7.59% YoY to 12.3 TEUs during the quarter.
Canara Bank: The government has appointed Bhavendra Kumar as chief general manager of the bank for three years, with effect from October 9. He has taken charge as executive director of the bank.
Bharat Heavy Electricals: The government has appointed Bani Varma as director (industrial systems and products) of BHEL, with effect from October 9. Before taking charge as director, she was spearheading BHEL's transportation business segment and electronics division manufacturing unit in Bangalore.
GR Infraprojects: Dibang Power (Lot 4) Consortium, the joint venture between GR Infraprojects and Patel Engineering, has executed the contract agreement for the project worth Rs 3,637.12 crore with the NHPC. The share of GR Infraprojects in the Dibang multipurpose project in Arunachal Pradesh is 50 percent, and the project, including the construction of civil works for Lot 4, is expected to be completed within 86 months.
Dilip Buildcon: The infrastructure company has signed an agreement with the Water Resources Zone, Udaipur, Rajasthan, for the construction of Dewas III and IV Dams in Gogunda on an engineering, procurement, and construction single-responsibility turnkey basis, including 10 years of operation and maintenance. The project, worth Rs 396.93 crore, is expected to be completed within 44 months.
Glenmark Life Sciences: The pharma company has declared an interim dividend of Rs 22.50 per share for the financial year 2023–24. The record date for reckoning the list of shareholders who will be entitled to receive the said interim dividend will be October 17. The interim dividend will be paid by October 23.
Genus Power Infrastructures: The electricity metering solutions company said its wholly owned subsidiary has received two letters of award (LOA) worth Rs 3,115.01 crore for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). This includes the design of an advanced metering infrastructure (AMI) system with supply, installation, and commissioning with an FMS of 34.79 lakh smart prepaid metres and system metres, including DT metres, with corresponding energy accounting on a DBFOOT basis. With many state electricity boards (SEBs) having commenced the bidding process to procure smart meters, the company anticipates a sustained and significant increase in order volumes throughout the upcoming quarters of fiscal year 2024.
Genus Power Infrastructures: The electricity metering solutions company said its wholly owned subsidiary has received two letters of award (LOA) worth Rs 3,115.01 crore for the appointment of Advanced Metering Infrastructure Service Providers (AMISPs). This includes the design of an advanced metering infrastructure (AMI) system with supply, installation, and commissioning with an FMS of 34.79 lakh smart prepaid metres and system metres, including DT metres, with corresponding energy accounting on a DBFOOT basis. With many state electricity boards (SEBs) having commenced the bidding process to procure smart meters, the company anticipates a sustained and significant increase in order volumes throughout the upcoming quarters of fiscal year 2024.
City Crops Agro: The agri products trader is set to debut on the BSE SME on October 10. The issue price is Rs. 25 per share. Its equity shares will be available for trading in the trade-for-trade segment for 10 days.
Bhageria Industries: The company has received one turnkey international solar engineering, procurement, and construction (Solar EPC) project with comprehensive operation, maintenance, and water proofing at the APM terminal in the Kingdom of Bahrain. The project, with a capacity of 11.40 MWp, has a total order value of Rs 104.49 crore.
Divgi TorqTransfer: The company has appointed Dipak Vani as Chief Operating Officer with effect from November 1. Currently, Dipak is the Head of Purchase and Global Supply Management. In addition, the company has appointed Girish Ghatwade as Senior Manager, Strategic Sourcing and Global Supply Management, with effect from November 1.
Saakshi Medtech and Panels: Ace investor Ashish Rameshchandra Kacholia has bought 6,22,800 lakh equity shares in the electrical control panels and cabinets assembling company via open market transactions at an average price of Rs 167.01 per share, amounting to Rs 10.4 crore. However, Hem Finlease sold 6,20,400 shares in the company at an average price of Rs 167 per share.
Kontor Space: The company will debut on the NSE Emerge on October 10. The issue price is Rs. 93 per share. Equity shares of the company will be available for trading in the trade-for-trade segment.
Vishnusurya Projects and Infra: The rough stone mining company will list its equity shares on the NSE Emerge on October 10. The offer price is Rs. 68 per share. Equity shares of the company will be available for trading in the trade-for-trade segment.
