Stock to Watch Today - Rupeedesk Reports - 10.03.2023
Stock to Watch Today - Rupeedesk Report
Stock to Watch Today - Rupeedesk Reports
Buzzing Stocks: IRB Infra, Infosys, Glenmark Life Sciences and others in news today.
Infosys: The leading IT services provider has collaborated with mobility specialist ZF to revamp its multi-echelon supply chain with SAP Integrated Business Planning (SAP IBP) and Infosys Cobalt. Infosys leveraged its hybrid agile implementation methodology to replace multiple legacy demand planning tools at ZF Aftermarket, with a unified, global SAP platform. ZF is a global technology company supplying systems for passenger cars, commercial vehicles and industrial technology, enabling the next generation of mobility.
NBCC (India): The state-owned project management consultancy and EPC company has received work orders worth Rs 229.81 crore, from Indian Institute of Foreign Trade. The company will construct new campus for IIFT in Kakinada.
IRB Infrastructure Developers: The road infrastructure developer has reported toll collection at Rs 352 crore for February 2023, increasing by 27 percent compared to Rs 277.5 crore of gross toll revenue in same month last year. Its private InvIT subsidiary IRB Infrastructure Trust recorded 12.7 percent YoY growth in toll collection at Rs 75.52 crore for February 2023.
Shalby: The healthcare services provider says its subsidiary Shalby Academy has signed MoU with Silver Oak University, Ahmedabad, to jointly develop various vocational undergraduate and post graduate courses in allied health science like radio imaging, operation theatre, and medical laboratory technology.
Glenmark Life Sciences: The board members of the company are scheduled to meet on March 16 to consider and declare payment of interim dividend, if any, for the financial year 2022-23. The trading window will remain closed from March 10-March 18, 2023 for the interim dividend.
Mukand: The company has executed share purchase agreement for sale of 5.51% equity shares of Mukand Sumi Special Steel to Jamnalal Sons. Mukand Sumi Special Steel is a joint venture of Bajaj Group, and Jamnalal Sons is a promoter group entity of the company. The board of directors of the company had approved the sale of 5.51% stake in Mukand Sumi and share purchase agreement with respect to said transaction in February 2023.
Shriram Finance: Investors Dynasty Acquisition (FPI) and Arkaig Acquisition (FPI) have exited the Shriram Group company by selling their entire shareholding of 2.49% and 0.67% respectively via block trades on March 8.
Dredging Corporation of India: The dredging company has received the annual maintenance dredging contract worth Rs 64 crore from Southern Naval Command Kochi, for FY23. The contract includes annual dredging of 1.5 million cubic meter at Naval Channel, Ernakulam, Kochi.
PNC Infratech: The company is declared as L1 (lowest) bidder for two highway projects of NHAI, with an aggregate bid project cost of Rs 2,004.43 crore. These two highway projects, which come under Bharatmala Pariyojana in Bihar on Hybrid Annuity Mode, are to be constructed in 24 months and operated for 15 years, post construction.
Zydus Lifesciences: The leading pharma company has received final approval from the United States Food and Drug Administration (USFDA) for Erythromycin tablets. These tablets are used to prevent and treat infections in many different parts of the body, including respiratory tract infections, skin infections, diphtheria, intestinal amebiasis, acute pelvic inflammatory disease, legionnaire's disease, pertussis and syphilis. The drugs will be manufactured at the group’s formulation manufacturing facility in Moraiya, Ahmedabad (India). Erythromycin tablets had annual sales of $25.1 million in United States as per IQVIA MAT data of December 2022.
PSP Projects: The company has received work orders worth Rs 123.38 crore in institutional, industrial and residential categories, including the order for construction of the iconic project “360” at Ahmedabad, from Anjney Finebuild, and design & construction of an industrial shed in Ahmedabad, from Adishwaram Innovative LLP. With the above orders, the total order inflow for current financial year stands at Rs 3,415.97 crore.
Hind Rectifiers: The rectifier equipment and semi-conductor devices manufacturer has commenced commercial production at new manufacturing plant in Nashik, Maharashtra. The benefits of these new production lines will be availed from 2023-24 onwards.
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