Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: PVR Inox, Wipro, Asian Paints, Grasim, RVNL and others in news.
PVR INOX: The multiplex chain has opened a six-screen multiplex Maison INOX at Jio World Centre in Mumbai and a four-screen multiplex at Utkal Kanika Galleria Mall, Bhubaneswar, Odisha. With these launches, PVR INOX now operates the largest multiplex network with 1,711 screens across 359 properties in 114 cities (India and Sri Lanka).
Biocon: Subsidiary Biocon Biologics has received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for marketing YESAFILI, a biosimilar of Aflibercept. Yesafili, an ophthalmology product, is used in the treatment of neovascular (wet AMD) and age-related macular degeneration. In September, Yesafili received marketing authorisation approval from the European Commission (EC) for the European Union.
IDFC FIRST Bank: The bank said it has received in-principle approval from the Pension Fund Regulatory and Development Authority (PFRDA) for the proposed composite scheme of amalgamation of IDFC and IDFC Financial Holding Company into and with IDFC FIRST Bank. The bank also received an observation letter with ‘no objection’ from the National Stock Exchange of India and an observation letter with ‘no adverse observations’ from the BSE.
Wipro: Designit Tokyo Co. Ltd., a step-down subsidiary of the IT services company, has been voluntarily liquidated with effect from November 13.
Rail Vikas Nigam: The railway company has received a letter of acceptance for construction work, supply of stone ballast, track linking, and side drain retaining in the Dharakoh Maramjhiri section in connection with the third line from the Central Railway. The project cost is Rs 311.18 crore.
Asian Paints: The original installed production capacity of the Khandala plant has been increased to 4 lakh KL per annum in order to meet the medium-term capacity requirements of the company. An amount of Rs 385 crore has been invested by the company for the increase in installed capacity, and the same has been funded through internal accruals.
Grasim Industries: The Aditya Birla Group company has reported a 17.6 percent on-year decline in standalone profit at Rs 795 crore for the quarter ended September FY24, impacted by lower realisations in the caustic soda business in line with the sharp decline in global prices. Revenue declined 4.5 percent YoY to Rs 6,442 crore on lower chemicals business and muted growth in viscose. Operating numbers were also weak despite a fall in power and fuel costs and lower input costs.
ASK Automotive: The auto ancillary company will list its equity shares on the bourses on November 15. The issue price has been fixed at Rs. 282 per share. The date of the allotment of shares was November 10.
GMM Pfaudler: The promoter Patel family will buy a 1 percent stake, equivalent to 4.49 lakh equity shares, in GMM Pfaudler from Pfaudler Inc. at Rs 1,700 per share. The acquisition of a 1 percent stake is via an inter-se promoter transfer.
PTC Industries: PTC Industries and Safran Aircraft Engines, the French global leader in aero engines, have signed a multi-year contract to develop industrial cooperation for LEAP engine casting parts. PTC Industries will produce titanium-casting parts for Safran aircraft engines.
Jaiprakash Associates: With a view to reducing the debt, JP Associates and Trusts holding 18,93,16,992 equity shares of the company have entered into a settlement agreement with lender ICICI Bank to transfer the said shares to the lender.
Baba Food Processing (India): The agro-food manufacturing company will list its equity shares on the NSE Emerge on November 15. The issue price is Rs. 76 per share. Equity shares will be available for trading in the trade-for-trade segment.
