Stock to Watch Today - Rupeedesk Reports - 06.07.2022
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Stocks To Watch Today | Biocon, Marico, Rama Steel Tubes, and others in news today
Biocon: Subsidiary Biocon Biologics has received the EU GMP certificate from the Health Products Regulatory Authority (HPRA), Ireland, for its new monoclonal antibodies (mAbs) drug substance manufacturing facility (B3) at Biocon Park, Bengaluru. This is after the good manufacturing practice (GMP) inspection conducted in April 2022 by the said authority.
Marico: India business volumes in Q1FY23 declined in mid-single digits, particularly dragged by a sharp drop in Saffola Oils, while Parachute coconut oil recorded a minor volume decline. Value added hair oils grew in low single digits in value terms despite weak consumption sentiment, especially in rural. The International business maintained its strong momentum, delivering high-teen constant currency growth. Consolidated revenue in the quarter ended June 2022 was marginally higher on a year-on-year basis.
Rama Steel Tubes: The company said the board has recommended the sub-division of equity share of face value of Rs 5 each into equity shares of face value of Re 1 each at the record date. Further the company will acquire 51 percent stake in Ashoka Infrasteel, a partnership firm, and 50 percent in Hagar Mega Mart.
Control Print: The company through subsidiary Control Print B.V. has entered into an agreement with Markprint B.V. in Netherlands to acquire majority stake (75 percent) in Markprint B.V. The acquisition will be completed by July 31 and acquisition cost is 1.5 million euros.
J Kumar Infraprojects: The company has received Letter of Acceptance from Brihanmumbai Municipal Corporation, for design, build and commissioning of priority sewer tunnel-Phase I from Don Bosco to New Malad IPS with segment lining method in Mumbai. The project cost is Rs 571.01 crore. J Kumar lnfraprojects in joint venture with Michigan Engineers bagged this project with 60:40 proportion.
Equitas Holdings: The company has completed the sale of its entire shareholding in its subsidiary, Equitas Technologies (ETPL). With this, the company complied with the condition stated by RBI as part of its no objection letter for amalgamation of Equitas Holdings with Equitas Small Finance Bank. Consequently, ETPL has ceased to be the subsidiary of the company.
Tejas Networks: The company has acquired 60,81,946 equity shares or 62.65% stake in Saankhya at a price of Rs 454.19 per equity share. The transaction cost is Rs 276.24 crore. After the said acquisition, Saankhya has become a subsidiary of the company.
KPI Green Energy: The company has received the biggest order for executing solar power project of 23.60 MWdc capacity from Nouveau Jewellery LLP and 3 MWdc capacity from Nouveau Diamonds Manufacturing India LLP. The order is under 'captive power producer (CPP)' segment of the company.
Competent Automobiles: Competent Automobiles appoints CFO. The company said the board has appointed Badri Nath as Chief Financial Officer (CFO) of the company and Ravi Arora as company secretary and compliance officer.
Satia Industries: The company has received an order worth over Rs 105 crore from National Council of Educational Research and Training (NCERT). The company will supply 11,000 tons of Maplitho paper of 80 GSM in sheets and reels for printing of text books.
Transcorp International: Tide, the UK's leading SME-focused business financial platform that began setting up operations in India in 2020, has partnered with Transcorp International, an Authorised Dealer Category II and perpetual Prepaid Payment Instrument (PPI) license holder. They will launch co-branded prepaid cards (Tide Expense Card) as an entry product. Tide will offer payment services to small businesses across India, starting with a Tide business account, accompanied by a Tide Expense Card.
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