Buzzing Stocks : ITC, Lupin, Easy Trip, Unimech Aerospace, Mazagon Dock, Shriram Properties, Tanvi Foods, Hindalco in focus on 31 December.
Lupin : The pharma major has acquired Huminsulin in India from Eli Lilly to enhance its diabetes portfolio. Lupin has been marketing the Huminsulin range of products, comprising insulin human, through existing distribution and promotion agreements with Lilly India. Huminsulin is used to treat type 1 and type 2 diabetes mellitus, helping improve blood sugar control in both adults and children.
Easy Trip Planners : Promoter Nishant Pitti is reportedly selling up to a 14.21% stake in the company via block deals, according to CNBC-TV18. The floor price for the deal is Rs 15.6 per share, with the deal size estimated at Rs 780 crore. As of December 2, 2024, Nishant Pitti held a 14.21% stake in the company.
Shriram Properties : The company has announced the strategic sale of a 3.9-acre land parcel in Chennai to a prominent healthcare and educational group in South India. Shriram Properties remains focused on residential development, with an emphasis on mid and mid-premium segments, and plans to utilize the monetization proceeds for future growth.
Hindalco Industries : The Ministry of Coal has allocated the Meenakshi coal mine in Odisha to the Aditya Birla Group company. The Meenakshi coal mine is a fully explored block with a peak-rated capacity (PRC) of 12 million tonnes per annum and geological reserves of 285.23 million tonnes.
Mazagon Dock Shipbuilders : The company has secured a contract worth approximately Rs 1,990 crore from the Defence Ministry for the construction of an Air Independent Propulsion (AIP) plug for DRDO and its integration.
ITC : The National Company Law Tribunal (NCLT), Kolkata, has sanctioned the scheme for demerging ITC’s hotels business, effective December 16. ITC Hotels will be listed within 60 days of receiving the NCLT order. The record date is set as January 6, 2025, to determine ITC shareholders eligible for equity shares of ITC Hotels under the demerger. ITC and ITC Hotels will execute a Trademarks License Agreement, and ITC Hotels will receive Rs 1,500 crore from ITC post-demerger.
Rail Vikas Nigam : RVNL has emerged as the lowest bidder for a Central Railway project worth Rs 137.16 crore. The project involves the design, supply, erection, testing, and commissioning of a 132/55 KV traction substation in the Bhusaval-Khandwa section of Central Railway.
CESC : The company’s subsidiary, Noida Power Company, has issued a Letter of Award to Purvah Green Power for the supply of 300 MW wind-solar hybrid power on a long-term basis. Purvah Green Power is also a subsidiary of CESC.
Tanvi Foods (India) : The company has renewed its food facility registration with the US Food & Drug Administration (USFDA) under the Federal Food, Drug, and Cosmetic Act. This registration covers the manufacturing of ready-to-cook frozen snacks and other food items at its new Seetharampuram, Andhra Pradesh plant. The approval, previously valid until December 31, 2024, has been extended for two more years, until December 12, 2026.
Dhanlaxmi Bank : The Reserve Bank of India (RBI) has approved the appointment of P Suriaraj as Executive Director of Dhanlaxmi Bank for three years.
Jubilant Ingrevia : The company’s subsidiary, Jubilant Infrastructure, announced its Board’s approval to purchase a 6.67% equity stake in Forum 1 Aviation from Hero Fincorp and Sunil Kant Munjal. After this acquisition, Jubilant Infrastructure will hold a 15.79% equity stake in Forum 1 Aviation.
Adani Green Energy : Amit Singh, the current CEO of Adani Green Energy, will step down on March 31, 2025, to take on the role of CEO for the Adani Group's International Energy Business. Ashish Khanna, currently CEO of the International Energy Business, will succeed him as CEO of Adani Green Energy effective April 1, 2025.
Archean Chemical Industries : CFO R. Raghunathan has resigned, effective January 20, 2025. Natarajan Ramamurthy has been appointed as CFO, effective January 21, 2025.
Century Enka : KG Ladsaria has resigned as Chief Financial Officer of the company, effective December 31, 2024.
Bank of India : The public sector lender has raised the marginal cost of fund-based lending rate by 5–10 basis points for select tenures, effective January 1, 2025.
Prataap Snacks : The company reported a fire accident on December 30 at its manufacturing unit in Jammu. There were no casualties. The fire caused damage to inventories, machinery, building, and furniture, disrupting operations. Meanwhile, demand from the Northern market will be met by third-party units in Hisar and Karnal. The company has adequate insurance coverage.
Power Grid Corporation of India : The company has acquired Rajasthan IV 4A Power Transmission for Rs 18.37 crore. Additionally, it has transferred its 26% residual equity stake in four associate companies to POWERGRID Infrastructure Investment Trust (PGInvIT) for Rs 506.62 crore.
SBI Life Insurance Company : The Board has approved a Rs 6.60 crore investment in Bima Sugam India Federation.
GMR Airports Infrastructure : The company has issued a letter of comfort to ICICI Bank for a Rs 100 crore working capital facility being availed by its subsidiary, GMR Nagpur International Airport.
AGS Transact Technologies : Neomile Growth Fund - Series I acquired a 0.94% stake in AGS Transact at an average price of Rs 63.75 per share from promoter Vineha Enterprises.
Senores Pharmaceuticals : India Equity Fund 1 acquired a 0.67% stake in Senores Pharmaceuticals at an average price of Rs 579.89 per share.
