Buzzing Stocks : Indo Farm Equipment, Dynamic Services, Akzo Nobel, Caplin Point, NSECO, Info Edge, Mobikwik in focus on 7 January.
Results Today : One Mobikwik Systems, GM Breweries, Darshan Orna, Kore Foods Krishna Ventures, Leel Electricals, UH Zaveri, and VR Woodart will announce their quarterly earnings on January 7.
NESCO : The National Highways Logistics Management has declared the company as the highest bidder and has accepted its proposal for developing, operating, and maintaining Wayside Amenities in the South Zone on the Bengaluru-Chennai Expressway Corridor (Phase II) section on a lease basis. The total cost for the development of Wayside Amenities is estimated at Rs 75 crore for each of the 3 sites, and the estimated annualized revenue from these 3 sites is Rs 350 crore from the 4th year of operations.
Caplin Point Laboratories : The company has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (FDA) for the recent inspection conducted at Caplin Steriles’ injectable and ophthalmic manufacturing facility at Gummidipoondi, Tamil Nadu. The unannounced USFDA inspection was conducted between August 5 and August 9 and concluded with zero 483 observations.
Ashoka Buildcon : The company's subsidiary, Ashoka Bowaichandi Guskara Road, has executed a concession agreement with the National Highways Authority of India (NHAI) for the development of a 4-lane Economic Corridor in West Bengal under the Hybrid Annuity Mode. The accepted bid project cost is Rs 1,391 crore.
Vodafone Idea : The company has entered into a Share Purchase Agreement with iBUS Network and Infrastructure for the transfer of its entire 50% shareholding in Firefly Networks, for Rs 4.5 crore. Post the transfer of shareholding, Firefly will cease to be a joint venture of the company.
Bharti Airtel : The company has entered into a Share Purchase Agreement with iBUS Network and Infrastructure for the transfer of its entire 50% stake in Firefly Networks. After the transfer of the 50% stake, Firefly will cease to be a joint venture of the company.
Coal India : The company has executed a non-binding Memorandum of Understanding (MoU) with IREL (India), a public sector undertaking, to cooperate and collaborate for the development (mining, extraction, refining, etc.) of mutually agreed assets of critical minerals, including mineral sands and rare earth elements (REE), by acquiring assets or sourcing raw materials domestically or internationally.
Power Grid Corporation of India : The company has been declared the successful bidder for two projects to establish the interstate transmission system on a build, own, operate, and transfer (BOOT) basis. The projects comprise augmentation works at under-construction substations in Gujarat and Karnataka.
Akzo Nobel India : Parent company Akzo Nobel NV (ANNV) has requested the Board of the company to explore steps for a potential sale of the company’s powder coatings business and its international research centre (R&D operations) to a separate indirect wholly owned subsidiary of ANNV; and the potential acquisition of decorative paints intellectual properties (owned by ANNV) by the company. The Board has authorized the company’s management to commence exploratory steps to evaluate and examine these potential transactions.
Nuvoco Vistas Corporation : The Committee of Creditors of Vadraj Cement has approved the company's Resolution Plan for Vadraj Cement. The company has received a Letter of Intent from the Resolution Professional and will make phased investments in Vadraj Cement over 15 months.
Ador Welding : The company has appointed Lajpat Yadav as COO - India Welding Business, effective January 6.
Vakrangee : The company has renewed its agreement with the Bank of Baroda to continue offering business correspondent (BC) banking and comprehensive financial inclusion (FI) services across Pan India through Vakrangee Kendra outlets.
Dynamic Services and Security : The company has received a work order worth Rs 476 crore from Orion Security Solutions.
InterGlobe Aviation : The Principal Commissioner of Customs, Air Cargo Complex (Import), has imposed a penalty of Rs 2.17 crore on IndiGo. The customs officer has denied the duty exemption on the import of aircraft parts. The company is in the process of contesting this order before the appropriate appellate authority.
Piramal Pharma : The Board has approved the appointment of Sai Ramana Ponugoti as Chief Executive Officer (CEO) - India Consumer Healthcare, effective January 6. Consequently, Sarosh Shetty ceases to be the interim CEO of India Consumer Healthcare.
Rudra Gas Enterprise : The Ministry of Corporate Affairs has approved the incorporation of the company's subsidiary, Rudra Global Green Energy.
NMDC : The Steel Ministry has proposed the merger of KIOCL with NMDC to the Finance Ministry, according to CNBC-TV18, quoting sources. NMDC aims to export iron ore pellets from KIOCL after the proposed merger.
Bharat Petroleum Corporation (BPCL) : The company has issued a clarification on news reports that Maharashtra Natural Gas (MNGL) is preparing to list through an initial public offering (IPO) of over Rs 1,000 crore. BPCL stated that the Board has given in-principle approval for the IPO, subject to regulatory and other approvals. Maharashtra Natural Gas is a joint venture of BPCL, GAIL, and Indraprastha Gas.
Manappuram Finance : The non-banking finance company has confirmed recent media reports on the daylight robbery incident at its branch in Odisha. The company has reported the incident to the authorities, and a First Information Report (FIR) has been filed. Preliminary estimates suggest that the value of the stolen assets is approximately Rs 20 crore. The incident is an isolated event and does not have any bearing on the overall operations or performance of the company.
Zydus Lifesciences : Sentynl Therapeutics Inc, a US-based biopharmaceutical company wholly owned by Zydus Lifesciences, and Fortress Biotech Inc, announced that the US Food and Drug Administration (FDA) has accepted for filing and priority review Sentynl’s new drug application (NDA) for CUTX-101, the product candidate for the treatment of Menkes disease. Menkes disease is a rare X-linked recessive pediatric disease caused by gene mutations of the copper transporter ATP7A.
Dr Lal PathLabs : Multi-Manager ICVC sold 0.52% stake in the company at an average price of Rs 2,997.11 per share, amounting to Rs 130.3 crore.
Jyoti Structures : Follis Advisory LLP sold 0.6% stake in the company at an average price of Rs 25.63 per share, valued at Rs 13.44 crore.
