Stock to Watch Today - Rupeedesk Reports - 30.08.2023
Stock to Watch Today - Rupeedesk ReportStock to Watch Today - Rupeedesk Reports
Buzzing Stocks: Lupin, Zomato, GR Infra, Central Bank, Ami Organics, others in news.
Lupin: Subsidiary Lupin Pharma Canada has launched Propranolol LA (long-acting) capsules in the 60 mg, 80 mg, 120 mg and 160 mg strengths in Canada. Propranolol LA is a generic equivalent of Inderal LA, which is used to treat heart problems, anxiety, and migraines.
Zomato: SoftBank Vision Fund (SVF Global) is likely to offload a 1.17% stake it holds in food delivery giant Zomato for Rs 940 crore through a block deal, CNBC TV-18 reported, citing sources. A total of 10 crore shares will be sold by SVF Growth Fund, at a price of Rs 94 apiece, the sources added. Svf Growth (Singapore) Pte Ltd holds 3.35% stake in Zomato as of June 2023.
Ami Organics: Morgan Stanley Asia Singapore Pte non-ODI has bought 6,21,898 equity shares in the pharma company through open market transactions at an average price of Rs 1,250 per share, amounting to Rs 77.7 crore. However, high net-worth individual (HNI) Girishkumar Limbabhai Chovatia was the seller in a block deal, offloading 6.25 lakh shares at an average price of Rs 1,250.39 per share. Girishkumar held 7.12% or 25.95 lakh shares in the company as of June 2023.
APL Apollo Tubes: Promoter Rahul Gupta has exited the structural steel tubes company by selling his personal shareholding of 15.01 lakh shares or 0.54% stake via open market transactions at an average price of Rs 1,621.46 per share. The stake sale was worth Rs 243.38 crore.
Thermax: Shekhar Kashalikar, Executive Vice President and Chief Executive Officer - Thermax Babcock & Wilcox (TBWES), has resigned from the company with effect from September 30, due to personal reasons. Accordingly, Shekhar will also cease to be a member of senior management of the company.
Suzlon Energy: In May 2018, the wind and solar energy solutions company had win 285 MW wind power project under SECI 4 bid in Kutch, Gujarat from Avikiran Solar India. Due to devastating impact of the Covid-19 global pandemic and the resultant disruption of the global supply chain, the parties have decided to downsize the project limiting to 168 MW.
Mahindra Lifespace Developers: Krity Sharma has resigned as Chief People Officer, Human Resources (senior management personnel) of the company, to pursue her personal interests outside the organisation. Krity Sharma resigned with effect from October 26.
Central Bank of India: The public sector lender has entered into a strategic co-lending partnership with IKF Home Finance to offer MSME and home loans. IKF Home Finance manages assets totaling to Rs 696.10 crore via operations in 6 states. Also, Central Bank of India entered into a strategic co-lending partnership with Samunnati Financial Intermediation & Services to offer agriculture and MSME loans. Samunnati is functioning in 22 states, with an AUM of Rs 1,150 crore.
GR Infraprojects: Subsidiaries GR Belgaum Raichur (Package-5) Highway Private Limited and GR Belgaum Raichur (package-6) Highway Private Limited, have executed the concession agreement, for road projects worth Rs 1,457.24 crore, with the National Highways Authority of India.
State Bank of India: The Competent Authority has given approval to set up a wholly owned subsidiary by SBI Funds Management, at IFSC Gift City, Gandhinagar subject to receipt of all regulatory approvals.
Ramky Infrastructure: The board has appointed Chivukula Vasudev as Chief Financial Officer and key managerial personnel of the company with effect from August 30. However, Ajay Masand has resigned as Chief Financial Officer of the company with effect from August 29.
Minda Corporation: Minda Europe BV, Netherlands, a non-operative wholly owned subsidiary, has been closed voluntarily. Minda Europe BV is not a material subsidiary of Minda Corporation and therefore it will not impact consolidated financials of the company.
MPS: Subsidiary MPS Interactive Systems has agreed to acquire 65% stake in Liberate Group (comprising Liberate Learning Pty Ltd (Australia), Liberate eLearning Pty Ltd (Australia), App-eLearn Pty Ltd (Australia), and Liberate Learning (New Zealand)). The remaining 35% shareholding of each of the entities of the Liberate Group will be acquired by MPSi in subsequent tranches.
SBFC Finance: The non-banking finance company has recorded standalone net profit at Rs 47 crore for quarter ended June FY24, rising 46.5% over Rs 32 crore profit in year-ago period. Net interest income grew by 40.6% on-year to Rs 141 crore during the same quarter.
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