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Buzzing Stocks: Zomato, Maruti Suzuki, TVS Electronics, IIFL Securities, IRCON, others in news.
Zomato: Japan's SoftBank is likely to sell Zomato shares worth $135 million via a block deal, sources told CNBC-TV18. In rupee terms, this amounts to Rs 1,125.5 crore. The shares will be sold at a price of Rs 120.50 per share.
Maruti Suzuki India: The country's largest car maker has received an order for dropping an earlier show-cause notice from the Gujarat Goods and Services Tax (GST) Authority, demanding Rs 1.79 crore on September 29 for the period of July 2017 to March 2018 on account of the reconciliation of tax returns filed by the company.
TVS Electronics: The TVS Group company has received an order of Rs 35.58 crore from the office of the Commissioner of Customs (Audit), Chennai. This order includes differential duty of Rs 10.02 crore and fines and penalties on the company, its Customs House Agent, Company Secretary, and other officials. The company is in the process of filing an appeal before the CESTAT in Chennai.
Shriram Finance: The company has executed a master agreement for co-lending of loans to micro, small, and medium enterprises (MSMEs) borrowers under the scheme of co-lending by way of back-to-back assignments of loans and loan portfolios in tranches with the Small Industries Development Bank of India (SIDBI).
IIFL Securities: The company said the Securities Appellate Tribunal (SAT) has set aside a Securities and Exchange Board of India (SEBI) order of June 19, prohibiting it from onboarding new clients for two years in respect of its business as a stock broker. The penalty imposed by the adjudicating officer is reduced to Rs 20 lakh.
Container Corporation of India: CONCOR and NTPC Vidyut Vyapar Nigam (NVVN) have signed an agreement for setting up PV solar renewable energy projects in CONCOR terminals. This is in line with companies commitments to reduce carbon emissions and promote renewable power generation.
Birla Corporation: The company said the Nomination and Remuneration Committee and Audit Committee have approved the extension of the term of service of Aditya Saraogi as the chief financial officer of the company for an additional four years, with effect from February 1, 2024. Aditya Saraogi's current term as the CFO is set to expire on January 31 upon attaining the age of superannuation, as per the policy of the company.
Olectra Greentech: The electric bus manufacturer has received a letter of award from Vasai Virar City Municipal Corporation, Mumbai, for the supply and maintenance of 40 electric buses. This order for the supply of 40 electric buses is on an outright sale basis and shall be delivered over a period of 7 months. The value of this supply of 40 electric buses would be Rs 62.80 crore.
IRCON International: The Government of India has decided to exercise the greenshoe option in the offer-for-sale (OFS) issue of IRCON International launched on December 7, and hence will sell an additional 4 percent stake in the OFS. The OFS issue, which opened for non-retail investors on December 7, was subscribed to 4.6 times the base issue size. The OFS will open for retail investors on December 8.
Five-Star Business Finance: Matrix Partners is likely to sell a 5.87 percent stake in Five-Star Business Finance via block deal, reports CNBC-TV18, quoting sources. Matrix can increase the stake sale size up to 8.81 percent. The issue price has been set at Rs. 730 per share.
Emami: The company has appointed Biplob Banerjee as the Chief Human Resources Officer, with effect from December 6. Tuhin Biswas has resigned as the Chief Human Resources Officer, with effect from November 30.
Jindal Saw: The iron and steel pipes and pellets manufacturer said the board of directors will be meeting on December 14 to consider the proposal of raising funds via one or more qualified institutions placement (QIP) of equity shares.
GlaxoSmithKline Pharmaceuticals: The company has established an omnichannel team to expand its reach and coverage to the target segments by leveraging technology and improving productivity. Continuing its focus on improving operating efficiencies, it has also completed the voluntary retirement scheme (VRS) (for commercial function employees in field sales and HO) and spent Rs 156.57 crore as the one-off cost of the VRS.
IRB Infrastructure Developers: The transport infrastructure developer, IRB Infrastructure Developers, and IRB Infrastructure Trust (private InvIT) collectively recorded a toll collection of Rs 437 crore in November 2023, a growth of 19.42 percent over the toll collection of Rs 366 crore in November 2022.
Sterlite Technologies (STL): The company claims an outstanding and overdue amount of Rs 254 crore plus cost overruns and interest on the value of goods delivered and services provided to Aksentt Tech Services under the Master Agreement of June 2020 between STL and Aksentt. The Master Agreement was signed between them for optical fibre deployment services in 1960 Gramme Panchayats in Maharashtra under Packages A and C of the MahaNet Project.
Sanghi Industries: Ravi Sanghi has resigned from the position of Chairman and Managing Director of the company. Aditya Sanghi and Alok Sanghi also resigned as executive directors of the company, with effect from December 7. Sukuru Ramarao is appointed as Whole-Time Director and CEO, and Sanjay Kumar Khajanchi as CFO, with effect from December 7, 2023.
Net Avenue Technologies: Net Avenue is set to debut on the NSE Emerge on December 8. The issue price has been fixed at Rs. 18 per share. Its equity shares will be available for trading in the trade-for-trade segment.
Marinetrans India: The company will list its equity shares on the NSE Emerge on December 8. The issue price is Rs. 26 per share. Its equity shares will be available for trading in the trade-for-trade segment.
