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Buzzing Stocks: M&M, SpiceJet, Cochin Shipyard, Delta Corp, Lupin, Zee, others in news.
M&M: The company expands its collaboration with Mobileye to develop advanced driving technology. The companies will work to develop a fully autonomous driving system.
SpiceJet: Sources told CNBCTV18 that the Carlyle Aviation president recently held a meeting with SpiceJet CMD Ajay Singh ahead of its AGM meeting. Carlyle Aviation discussed prospects and strategies for SpiceJet and SpiceXpress. Carlyle Aviation holds a 7 percent stake in SpiceJet currently.
Delta Corp: The company's Q3 results saw its net profit fall 59.34 percent from the previous year to Rs 34.48 crore. Its revenue fell 15.58 percent to Rs 231.74 crore. In casino and online gaming, the company’s strong business divisions show a sharp revenue slowdown.
Lupin: The company announced the launch of Bromfenac Ophthalmic Solution (0.07 percent in the US after receiving approval from the US FDA. The solution is used for postoperative inflammation and reduction of ocular pain in patients who have undergone cataract surgery.
Karnataka Bank: The bank announced a partnership with fintech company Digivriddhi (DGV) to offer a host of financial services catering to the needs of dairy farmers and milk Societies. The partnership will provide institutional credit and ease digitized payment for the dairy value chain.
Zee Entertainment Enterprises: Europe-based financial services firm Societe Generale has net sold 78,36,744 equity shares in the media & entertainment company via open market transactions at an average price of Rs 259.1 per shares, amounting to Rs 203.05 crore.
KIOCL: The company temporarily suspends the operation of the Pellet Plant Unit in Mangalore due to the non-availability of iron-ore fines. The company said it will inform the exchanges when the plant will be back in operation.
Cochin Shipyard: The shipbuilding company is going to trade ex-split with effect from January 10. The company announced sub-division of its equity share from a face value of Rs 10 each to face value of Rs 5 each.
Ramkrishna Forgings: Ramkrishna Forgings will be replacing Tata Coffee in the BSE 500, BSE 250 Smallcap, and BSE 400 MidSmallcap indices, with effect from January 15, as Tata Coffee is merging with Tata Consumer Products. Meanwhile, Tata Coffee will be removed from BSE AllCap, FMCG, MidSmallcap, and Smallcap indices from the same date.
PFC: The company received no objection letter from RBI to set up a wholly owned subsidiary finance company at the International Financial Services Centre (IFSC) in GIFT City, Gujarat.
Steel Strips Wheels: The company announced it acquired AMW Autocomponent for Rs 138.5 crore. The company has infused equity of Rs 5 crore and an intercorporate loan of Rs 133.15 crore into AMW Autocomponent.
Shyam Metalics and Energy: The company raised Rs 1385 crore through the Qualified Institutional Placement (QIP) against the total bid amount received of Rs 4055 crore, representing 3.5 times the fund received. The QIP Committee approved the issue allotment of 24,051,165 equity shares with a face value of ₹ 10 each to 38 QIBs at an issue price of Rs 576 per equity share.
Pondy Oxides and Chemicals: The company signed a MoU with the Tamil Nadu government to invest Rs 300 crore to Rs 500 crore to set up a recycling and manufacturing plant for non-ferrous metals, lithium-ion batteries, paper, plastics, and rubber. The project expects to employ 1200 people in the state.
Jyoti Structures: High networth individual Niranjan Lakhumal Hiranandani sold 45 lakh shares, which is equivalent to 0.7 percent of paid-up capital, via open market transactions at an average price of Rs 21.26 per share. Hiranandani held 2.43 percent stake in the company as of September 2023.
Tracxn Technologies: Foreign company Seabright II sold 7,56,960 equity shares (0.74 percent of equity stake) in the company at an average price of Rs 111.1 per share. Seabright, so far, sold 33,36,960 equity shares or 3.26 percent stake (since Q4CY23) in the company, against its shareholding of 4.16 percent as of September 2023.
