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Buzzing Stocks: Maruti Suzuki, Titan Company, Wipro, Colgate, TCS, Oil India and others in news.
Maruti Suzuki India: The automobile major said the board of directors will be meeting on November 24 to consider the allotment of 1,23,22,514 equity shares of the company to Suzuki Motor Corporation (SMC) on a preferential basis.
Titan Company: The Competition Commission of India (CCI) has approved the acquisition of an additional 27.18 percent shareholding in CaratLane Trading by Titan Company. Titan will acquire an additional shareholding in CaratLane from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti.
Wipro: The technology services and consulting company announced a collaboration with NVIDIA to help healthcare companies accelerate the adoption of generative artificial intelligence (gen AI) through AI-driven strategies, products, and services. Wipro will leverage NVIDIA AI Enterprise software for the production of AI across its current portfolio of healthcare solutions in the Affordable Care Act (ACA), Medicare, and Medicaid to improve member experience, increase enrolment, and help support claims adjudication.
Tata Consultancy Services: In the EPIC Systems Corporation matter, the United States Supreme Court has rejected TCS' petition to file an appeal against the orders passed by the US Court of Appeals, 7th Circuit. The court order has confirmed the punitive damages award of $140 million passed by the District Court of Wisconsin. With this, the company intends to make the balance provision of approximately $125 million in its financial statements an exceptional item for the third quarter and nine months ending December 2023.
Colgate Palmolive: The State Goods and Service Tax Officer has conducted a search at the Chennai warehouse of the oral care company during November 16–17. The business operations of the company continued as usual. The penalty of Rs 1 lakh was levied for minor procedural non-compliance under Section 125 of the CGST Act and the SGST Act and is not specific to any suppression or willful misstatement done by the company.
Bharat Petroleum Corporation: The oil marketing company said the Board of Directors will be meeting on November 29 to consider the proposal of declaring an interim dividend for FY24 and fixing the record date.
Bank of Baroda: Life Insurance Corporation of India has increased its stake in the public sector bank to over 5 percent. LIC bought 24.39 lakh shares in the bank, taking the total stake to 5.031 percent, against 4.984 percent earlier.
Genus Power Infrastructures: The company has incorporated two wholly-owned step-down subsidiaries, namely Himachal Pradesh C Zone Smart Metering and Garhwal Smart Metering, as special purpose vehicles (SPV) for the execution of an advanced metering infrastructure service provider (AMISP) contract.
JK Tyre & Industries: Dr. Jorg Nohl has been appointed as an additional director in the category of independent director for five consecutive years, with effect from November 21, subject to the requisite approval of the members of the company.
Texmaco Rail & Engineering: The company launched its qualified institution placement (QIP) issue on November 21. The floor price for the issue has been fixed at Rs 135.90 per share. The meeting of the Board of Directors will be held on November 24 to consider the issue price, including a discount if any.
Power Finance Corporation: State-owned PFC said subsidiary PFC Consulting has incorporated a wholly owned subsidiary (special purpose vehicle, SPV), namely Ramakanali B Panagarh Transmission, for developing the intra-state transmission system at Ramakanali and Panagarh along with the associated transmission line.
Stocks to trade ex-dividend: Oil India, Ipca Laboratories, National Aluminium Company, CRISIL, Ingersoll-Rand (India), Pearl Global Industries, and TD Power Systems will trade ex-dividend with effect from November 22.
Ritco Logistics: The logistics company said the Board of Directors will be meeting on November 24 to consider the allotment of the convertible share warrants issued on a preferential basis.
Veerhealth Care: The company has launched an additional brand CALORAL toothpaste in the oral care segment in Morocco. It has received a Rs 17 lakh order from F & G Branding Co., Casablanca, Morocco, and North West Africa for CALORAL toothpaste. It is expecting additional growth in turnover with this new order.
Techknowgreen Solutions: The company has received two orders amounting to Rs 3.39 crore, which comprise a Rs 1.16 crore order from STT Global Data Centres India and a Rs 2.23 crore order from Cipla.
