Stocks In the News: Check out the companies making the headlines before the opening bell
Reliance Industries: Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context. Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
IRCTC: Ministry of Railways has withdrawn its decision to terminate all existing contracts of mobile catering (currently kept in abeyance) involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions. In a separate release, Ministry of Railways has conveyed the decision to resume the services of cooked food in trains.
Cadila Healthcare: Zydus Cadila has received final approval from the USFDA to market Decitabine for injection in the strength of 50 mg/vial single-dose vial. Decitabine is used to treat myelodysplastic syndromes, certain types of blood or bone marrow cancer.
Motherson Sumi Systems: Ningbo SMR Huaxiang Automotive Mirrors (SMR-NBHX), a 50:50 joint venture in China between Samvardhana Motherson Reflectec and Ningbo Huaxiang Electronic Co (NBHX Trim Group), has completed acquisition of 60% stake in Nanchang JMCG Mekra Lang Vehicle Mirror Co Ltd.
Bharti Airtel | The company has hiked prepaid tariffs effective November 26.
Havells India: The company has started commercial production of washing machines at its Ghiloth plant.
IRB Infrastructure Developers | The company said that its shareholders have passed a resolution which will enable capital inflow of Rs 5,347 crore into the company.
Biocon: Arohi Asset Management Pte Ltd acquired 0.108% stake in the company via open market transaction, increasing shareholding to 5.071% from 4.963% earlier.
HealthCare Global Enterprises: The company has completed the investment of Rs 33 crore for 78.6% stake in Suchirayu Health Care Solutions.
BASF India: BASF SE, Germany (ultimate holding company of BASF India) to sell its Kaolin Minerals business to KaMin LLC, United States.
Laurus Labs: The company acquired substantial minority stake in a CAR-T cell therapy company – Immunoadoptive Cell Therapy.
JBM Auto: The company, on December 8, will consider the proposal of sub-division of its equity shares.
Brigade Enterprises: Brigade Group launched Zenith Tower of Brigade Residences at World Trade Center, Chennai.
Amber Enterprises India: The company and its subsidiary IL JIN Electronics India have received approval from Ministry of Commerce & Industry under the Production Linked Incentive scheme for white goods (air conditioners).
Parsvnath Developers: The company has entered into Limited Liability Partnership Agreement. with Unity Buildwell for undertaking the development of a high end shopping mall (project) on the land admeasuring 28,400 square meters, allotted by Delhi Metro Rail Corporation (DMRC) on BOT basis, having a potential of 4,00,000 square feet leasable area, situated at Pitampura, New Delhi through a special purpose entity – Unity Parsvnaths LLP.
APL Apollo Tubes: ICRA revised rating on company’s long term bank facilities to AA/Stable, from AA-(Positive).
Kesoram Industries: The company Board has approved raising funds up to Rs 2,500 crore by way of equity, bond, FCCB, ADR, GDR, commercial paper and/or other debt instruments. This fund raising is primarily to retire company’s existing debt and to bring down the cost of the borrowing.
Zensar Technologies: R.B.A. Finance & Investment acquired 13.33 lakh equity shares in the company at Rs 450 per share, and ICICI Prudential Mutual Fund bought 14,77,137 equity shares in the company at same price, however, Marina Holdco (FPI) exited the company by selling 2,57,56,470 equity shares in the company at Rs 451.72 per share on the BSE, the bulk deals data showed.
Sagar Cements: Board has approved a proposal to borrow up to Rs 250 crore through term loan(s) and to raise a further sum up to Rs 250 crore through issue of unlisted non-convertible secured debentures.
Onelife Cap Advisors: Promoter Naig Pandoo Prabhakar further sold 11,00,404 equity shares in the company at Rs 18.97 per share on the NSE, the bulk deals data showed.
Knowledge Marine & Engineering Works: The company received award from Government of India for capital and maintenance dredging at Sittwe Port and Kaladan River in Myanmar for an amount of Rs 139.13 crore for a period of 2 years and 7 months.
Shree Ganesh Remedies: The company approved rights issue of Rs 45 crore.
India Grid Trust: Consortium of IndiGrid 1 and IndiGrid 2 participated in the tariff based competitive bidding to establish ‘Transmission system for evacuation of power from Renewable (RE) projects in Osmanabad area (1 GW) in Maharashtra’ on build, own, operate and maintain (BOOM) basis by REC Power Development and Consultancy. Estimated cost for the same is around Rs 170 crore. The company awaits receipt of Letter of Intent.
Onelife Cap Advisors: Promoter Naig Pandoo Prabhakar further sold 11,00,404 equity shares in the company at Rs 18.97 per share on the NSE, the bulk deals data showed.
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