Stock to Watch Today - Rupeedesk Reports - 13.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Ambuja Cements, IndusInd Bank, Godrej Industries, and others in news today
Godrej Industries: The board members have given their approval for issuance of one lakh non-convertible debentures with a face value of Rs 1 lakh each, amounting to Rs 1,000 crore on a private placement basis.
Ambuja Cements: Gautam Adani is seeking to sell a stake in Ambuja Cements worth about $450 million, as part of efforts to reduce debt and restore investor confidence in his conglomerate, a Financial Times report said. Adani owns 63% stake in Ambuja Cements. The newspaper said it learnt from three company sources, who are privy to the development, that Adani issued a formal request to global lenders for selling 4% to 5% stake in the cement business.
IndusInd Bank: The Reserve Bank of India has approved the re-appointment of Sumant Kathpalia as Managing Director and CEO of the bank for two more years with effect from March 24, 2023.
Lloyds Metals and Energy: The central government has granted the company environmental clearance and the Maharashtra Pollution Control Board has issued the consent to operate with the enhanced iron mining capacity of 10 million tonnes per annum from 3 million tonnes per annum. It remains confident of mining, handling, and selling the total quantity of 10 MMT iron ore in FY24. The company has also re-assessed its iron ore reserves in existing mines and preliminary reports suggested reserves of 180+ million tonnes.
Dishman Carbogen Amcis: The active pharmaceutical ingredients manufacturer has raised Rs 100 crore via non-convertible debentures, as it has approved issuance of up to 10,000 non-convertible debentures of face value of Rs 1 lakh each on a private placement basis.
Avantel: The company has received a work order worth Rs 10.48 crore from the Indian Navy. The said order is going to be executed by March 9, 2024.
Gateway Distriparks: HDFC Mutual Fund through its several schemes has bought additional 2.02% stake in the logistics company via open market transactions on March 8. With this, the fund house increased its stake to 7.10%, up from 5.09% earlier.
Piramal Enterprises: The company has raised Rs 100 crore via non-convertible debentures as its committee approved allotment of 10,000 non-convertible debentures with a face value of Rs 1 lakh each on a private placement basis. These Debentures are proposed to be listed on the Debt Segment and Capital Market Segment of National Stock Exchange of India, and BSE Limited.
Steel Authority of India: The board members of the company on March 16 will consider an interim dividend for the financial year 2022-23.
Dynacons Systems & Solutions: Dynacons has won order worth Rs 26.99 crore for supply of Apple iPad from Mumbai High Court. The scope includes the supply, installation & integration of Apple iPads at 2,400 Judicial officers all over Maharashtra.
JSW Steel: Subsidiary JSW Steel Coated Products has completed the acquisition 31% stake in Ayena Innovation. In January, subsidiary has entered into a shareholders agreement and a share subscription agreement with Ayena Innovation for acquisition of 31% stake.
Vanta Bioscience: Vayam Research Solutions, an associate of Vanta Bioscience, has cleared the USFDA audit with zero 483s for its facility at Gandhi Nagar in Gujarat. The said approval will help Vayam to enhance customer service portfolio in various segments like pharmaceutical as well as nutraceutical clinical trial and BA/BE studies around the world.
Lumax Auto Technologies: The auto ancillary company has completed the acquisition of 75% shareholding in IAC International Automotive India through its wholly owned subsidiary Lumax Integrated Ventures. Accordingly, IAC India has become the step-down subsidiary of the company and subsidiary of Lumax Integrated Ventures with immediate effect.
MOIL: The Government of India has appointed Nikunj Kumar Srivastava as nominee director on the board from Madhya Pradesh government, with immediate effect till March 6, 2024. Accordingly, Sukhveer Singh ceases to be director on the board.
Canara Bank: The public sector lender has raised marginal cost of funds-based lending rates by 10-45 bps across tenures with effect from March 12, 2023.
TCI Express: Promoter Vineet Agarwal has bought additional 2.65% stake in the company via off-market transactions on March 9. With this, Vineet's shareholding in the company increased to 5.24%, from 2.59% earlier.
Welspun Corp: Subsidiary Welspun Metallics has received multiple export orders of 43 KMT for pig iron across South East Asia and Europe. These orders will be executed within next two months.
ICICI Bank: The country's second largest private sector lender has received approval from the Reserve Bank of India for extension of time till September 9, 2024 for divesting its shareholding in ICICI Lombard General Insurance Company to less than 30%. ICICI Bank holds 48.02% stake in ICICI Lombard General Insurance Company as of December 2022.
Aster DM Healthcare: Aster DM Healthcare subsidiary Aster Pharmacies Group LLC has incorporated joint venture, Aster Arabia Trading Company LLC in Riyadh, KSA (Kingdom of Saudi Arabia). Aster Arabia Trading Company LLC will operate pharmacy chain across the Kingdom of Saudi Arabia to sell pharmaceutical and non-pharmaceutical products within each pharmacy under Aster Pharmacy brand. Aster Pharmacies Group LLC has acquired 48.995% stake in Aster Arabia Trading Company LLC.
Lupin: The United States Food and Drug Administration (US FDA) has completed a pre-approval and GMP inspection of Lupin's API manufacturing facility in Visakhapatnam (Vizag), India, with no observations. The inspection was conducted during March 6 - March 10, 2023.
Elgi Equipments: Elgi Compressors USA Inc, USA, a wholly owned subsidiary of the company has entered into an operating agreement for acquisition of 33.33% stake in CS Industrial Services LLC in US. CS Industrial which operates in capital goods industry is yet to commence business operations.
Hindustan Aeronautics: The company has signed a Rs 667-crore contract to supply 6 Dornier-228 aircraft to the Indian Air Force.
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