Buzzing Stocks | Wipro, Unichem Labs, Balrampur Chini Mills, Laurus Labs, Jagran Prakashan, GG Engineering, Asian Granito India
Heranba Industries, Unichem Labs, B L Kashyap and Sons, Balrampur Chini Mills, Igarashi Motors India, Nitin Spinners, RCL Retail, ISGEC Heavy Engineering are also among the stocks in focus today.
Wipro | The company has acquired Capco, a consultancy firm in banking and financial services space, for $1.45 billion. This is by far the largest ever acquisition Wipro has made. The London-headquartered The Capital Markets Company (Capco) is a management and technology consultancy firm that provides digital, consulting, and technology services to the global banking and financial services industry. Capco's clients include many marquee names in the global financial services industry. In addition, Capco services clients in the energy and commodities trading sector. This acquisition will make Wipro one of the largest end-to-end global consulting, technology and transformation service providers to the banking and financial services industry. Banking and financial services account for about 30 percent of the overall revenue for the firm and will help strengthen the company’s position in this space. Capco has over 5,000 employees in over 30 locations globally. This is a cash transaction and is expected to be completed during the quarter ending June 30, 2021, and is subject to requisite regulatory approvals and customary closing conditions.
Heranba Industries | The company to list its shares on bourses on March 5, the issue price has been fixed at Rs 627 per share. The Rs 625-crore public issue was subscribed 83 times during February 23-25.
Unichem Labs | The company has received ANDA approval for its Guanfacine tablets, USP 1 mg and 2 mg, from the United States Food and Drug Administration (USFDA) to market a generic version of TENEX (Guanfacine) tablets 1 mg and 2 mg of Promius Pharma LLC. Guanfacine tablets are indicated in the management of hypertension. The product will be commercialized from Unichem's Ghaziabad plant.
Jagran Prakashan | The company redeemed commercial paper of Rs 30 crore on March 4, i.e. on the maturity date. On December 4 last year, the company had issued and alloted 600 units of commercial paper of Rs 5 lakh each, aggregating to issue size of Rs 30 crore, against earmarking of working capital, which were listed on BSE.
GG Engineering | TCG Funds Fund 1 acquired 1,78,800 equity shares in the company at Rs 123 per share on the BSE.
Asian Granito India | Donroy Ceramics LLP sold 2,17,768 equity shares in the company at Rs 182.18 per share on the NSE.
BL Kashyap and Sons | Acacia Partners LP sold 15,33,758 equity shares in the company at Rs 15.16 per share on the NSE.
Balrampur Chini Mills | IndiaFirst Life Insurance Company acquired 11.36 lakh equity shares in the company at Rs 202.55 per share on the NSE.
Igarashi Motors India | Equirus Wealth acquired 1,66,935 equity shares in the company at Rs 328.87 per share on the NSE.
Nitin Spinners | Aditya Birla Sun Life Mutual Fund reduced stake in the company to 3.03 percent from 5.07 percent via open market sale.
RCL Retail | The board of directors at their meeting appointed Sripal Sanghvi as CEO of the company.
ISGEC Heavy Engineering | The company has received order for waste heat recovery boilers from the cement industry. The order has been received from Shree Cement. These Boilers are to be set up at their Raipur unit and will be of 2 types, a PH Boiler to be installed at the pre-heater exhaust, and an AQC Boiler to be installed at the cooler exhaust from the 10500 TPD kiln.
AI Champdany Industries | Due to acute shortage of raw jute and low productivity, the company is compelled to declare temporary suspension of work at its Wellington Jute Mill-Rishra with effect from February 27 till further notice.
Laurus Labs | Dr Satyanarayana Chava, Founder Promoter, CEO & ED, sold 52 lakh equity shares of the company in the stock market at an average price of Rs 368.59, per share, aggregating to Rs 191.67 crore and Mrs. Nagarani Chava, one of the promoters of the company sold 18 Lakh equity shares of the company at an average price of Rs 366.91 per share at an aggregate value of Rs 66.04 crore, together 1.3 percent of the paid up capital of the company. Significant part of the above amount will be utilised to release the pledge on their equity shares of the company.
Tata Motors February auto sales: JLR UK sales was down 26 percent at 2,171 units against 2,929 units (YoY). Jaguar UK sales was down 60.6 percent at 334 units against 848 units (YoY). Land Rover UK sales fell 11.7 percent at 1,837 units against 2,081 units (YoY).
