Buzzing Stocks : Vishal Mega Mart, Mobikwik, JSW Energy, Va Tech Wabag, Pondy Oxides, Aurobindo Pharma in focus on Wednesday.
Aurobindo Pharma : The United States Food and Drug Administration (US FDA) inspected Unit-V, an API manufacturing facility, of Apitoria Pharma, a wholly owned subsidiary of the company, in Telangana from December 9 to December 17. The regulator closed the inspection with two observations. The observations are procedural in nature.
JSW Energy : South Korea's LG Energy Solution is in talks with JSW Energy to manufacture batteries for electric vehicles and renewable energy storage in a joint venture that would require an investment of over $1.5 billion, according to Reuters, citing sources. The discussions include setting up a plant in India with a total capacity of 10 gigawatt hours, of which JSW is likely to use about 70% for energy storage and electric vehicles, while LGES will take the remainder.
Jindal Saw : The company has entered into a share purchase agreement with ReNew Green Energy Solutions (RGES) to acquire up to 31.20% of the shareholding in ReNew Green MHH One, making RGMHH an associate of the company. This acquisition will help the company procure electricity at a concessional rate.
Route Mobile : The Board has announced the re-designation of Rajdipkumar Gupta as the Managing Director of the company and appointed Gautam Badalia as the Chief Executive Officer, effective December 17. Previously, Rajdipkumar Gupta was the Group Chief Executive Officer, and Gautam Badalia was the Group Chief Strategy Officer. The Board also appointed Milind Pathak as the Chief Corporate Marketing Officer and Vinay Binyala as the Chief Strategy Officer.
Gujarat Industries Power : The Board has approved the award of an EPC contract for the balance of system (BoS) package for the implementation of a 500 MW (AC) solar PV project at Khavda, Gujarat. The Board also approved debt syndication for availing a term loan for the 500 MW solar power project (Phase - II) at Khavda, Kutch, and debt syndication for availing a term loan for a 75 MW solar power project at Vastan.
Aditya Birla Real Estate : The company's subsidiary, Birla Estates, has acquired a land parcel of 70.92 acres in Boisar for Rs 104.3 crore.
Exide Industries : The company has invested Rs 100 crore in its subsidiary Exide Energy Solutions on a rights basis. With this investment, the total investment made by the company in the subsidiary rises to Rs 3,152.24 crore. There is no change in the shareholding percentage of the company in the subsidiary post-investment.
Sonata Software : The company has launched Harmoni.AI-powered test acceleration platform – IntellQA, designed to drive digital transformation for global enterprises.
Ambuja Cements : The cement and building materials company has received Board approval to merge Sanghi Industries and Penna Cement Industries with itself. The merger is subject to necessary statutory and regulatory approvals, including approval from the National Company Law Tribunal. Ambuja Cements will issue 12 equity shares for every 100 equity shares of Sanghi Industries.
Sun TV Network : The National Company Law Tribunal, Chennai, has approved the amalgamation between South Asia FM and its joint ventures/associate companies.
LTIMindtree : The High Court of Karnataka has granted an interim stay on the tax demand order of Rs 87.9 crore (and interest as applicable for the period between April 2018 and January 2023) issued by the Principal Commissioner of Central Tax, Bengaluru.
Glenmark Life Sciences : The Ministry of Corporate Affairs has approved the change of name of the company from Glenmark Life Sciences to Alivus Life Sciences, effective December 17.
Hampton Sky Realty : The company has announced a collaboration with Indian Hotels Company and its subsidiary Roots Corporation for two hotel properties in Ludhiana, Punjab.
Va Tech Wabag : The tender for Saudi Arabia’s 300 MLD mega seawater desalination plant, won by the company, has been cancelled due to internal administrative procedures. The company had received an order worth $317 million (Rs 2,700 crore) from the Saudi Water Authority on September 6.
Aditya Birla Sun Life AMC : Vikas Gautam has resigned as CEO – international business of the company, effective December 31, due to personal commitments.
Alembic Pharmaceuticals : The company has issued corporate guarantees of $10 million in favour of HSBC Bank, Chile, for providing a working capital facility to its subsidiary Alembic Pharmaceuticals SpA, Chile.
Pondy Oxides & Chemicals : The company has launched a Qualified Institutions Placement (QIP) issue on December 17 and set a floor price at Rs 902.93 per share.
Restaurant Brands Asia : The Board will meet on December 20 to consider raising funds through a preferential issue, qualified institutional placement, or any other method.
Piramal Enterprises : The Board will meet on December 20 to consider and approve the public issuance of non-convertible debentures.
Suyog Telematics : The Board will meet on December 21 to consider the proposal for raising funds via the issue of equity or any other equity-linked or convertible securities.
Adani Energy Solutions : Adani Energy has incorporated a wholly owned subsidiary, Adani Energy Solutions Step-Eleven, for the transmission, distribution, and supply of power and other infrastructure services.
Muthoot Capital Services : The Board will meet on December 20 to consider the issuance of NCDs on a private placement basis on December 20.
Mindspace Business Parks REIT : ICICI Prudential Mutual Fund, HDFC Standard Life Insurance Company, and Capital Income Builder bought 2.47 crore units in the REIT at an average price of Rs 354.3 per unit, amounting to Rs 878.05 crore. However, Platinum Illumination A 2018 Trust sold 5.43 crore units at the same price, valued at Rs 1,926.6 crore.
Mos Utility : Pine Oak Global Fund bought a 0.56% stake in the company at an average price of Rs 292.9 per share.
Fairchem Organics : FIH Private Investments acquired a 1.45% stake in Fairchem at an average price of Rs 1,132.28 per share, valued at Rs 21.51 crore.
HEC Infra Projects : Wealth First Portfolio Managers sold a 1.1% stake in HEC at an average price of Rs 128 per share.
F&O Ban :
Bandhan Bank, Chambal Fertilisers and Chemicals, PVR INOX, Granules India, Hindustan Copper, Manappuram Finance, National Aluminium Company, RBL Bank, SAIL.
