Stocks In the News: Check out the companies making headlines before the opening bell
ABB India: The compamny has completed sale of Dodge Business for Rs 44.58 crore.
Biocon: The company’s subsidiary, Biocon Pharma, has received approval for its abbreviated new drug application for Mycophenolic Acid from the US Food and Drug Administration. This approval further adds to Biocon’s portfolio of vertically integrated complex drug products.
Unichem Laboratories: The company received ANDA approval for its Aripiprazole Tablets USP from USFDA.
Larsen & Toubro: Larsen & Toubro announced that it will jointly own and operate green hydrogen projects with Goldman Sachs-backed green energy producer ReNew Power. “Under this agreement, L&T and ReNew will jointly develop, own, execute and operate green hydrogen projects in India,” a joint statement said.
Maruti Suzuki: The auto major announced that it would increase prices in January 2022, owing to an increase in input costs. The price hike shall vary for different models.
Jet Airways: The company is reportedly in talks with airplane makers Boeing Co and Airbus SE to place an order worth $ 12 billion, Reuters reported on December 2, citing Bloomberg News.
Reliance Capital: The Reserve Bank said it has filed an application with the National Company Law Tribunal (NCLT) for initiation of bankruptcy proceedings against Reliance Capital.
Jubilant Ingrevia: The company approved the buyback of 1,000, 7.90% secured-rated, listed redeemable non-convertible debentures of Rs 10,00,000 each aggregating to Rs 100 crore.
DCB Bank: The bank revised its Base Rate to 10.50% per annum from the earlier Base Rate of 10.64% per annum. The revised rates will be applicable with effect from December 6, 2021.
Aarti Industries: HDFC Asset Management Company sold 1,74,221 equity shares in the company via open market transactions on November 30, reducing shareholding to 3.04% from 3.09% earlier.
Karda Constructions: Societe Generale acquired 36 lakh equity shares in the company at Rs 16.65 per share on the NSE, the bulk deals data showed.
Kirloskar Oil Engines: Franklin Templeton Mutual Fund India Taxshield Open bought 10 lakh shares and Franklin Templeton Mutual Fund India Prima Plus acquired 30 lakh shares in the company at Rs 180 per share, however, Nalanda India Equity Fund sold 22,28,570 equity shares and Nalanda India Fund offloaded 29,71,430 equity shares in the company at Rs 180.92 per share on the NSE, the bulk deals data showed.
Capital India Finance: The company approved the proposal to divest the entire shareholding in Kuants Wealth Private Limited (formerly CIFL Investment Adviser), Capital India Wealth Management (CIWMPL) and CIFL Holdings (CIFLHPL), wholly-owned subsidiaries of the company, to Capital India Corp LLP, a promoter entity of the company. After the completion of divestment, Kuants, CIWMPL and CIFLHPL are ceased to be wholly-owned subsidiaries of the company.
Prataap Snacks: SBI Funds Management sold 9,948 equity shares in the company via open market transaction on December 1, reducing shareholding to 3.39% from 3.43% earlier.
Sona BLW Precision Forgings: India Ratings & Research has upgraded the company’s long-term issuer rating to ‘AA’ from ‘AA-‘ and the outlook is stable.
Nagarjuna Fertilizers and Chemicals: The company has restarted urea production in Plant – I (at Kakinada, Andhra Pradesh), from December 1.
Punjab Alkalies & Chemicals: The company approved sub-division of each equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each subject to the approval of shareholders.
Rushil Decor: The company’s medium density fibre board manufacturing unit (MDF plant) at Chikmagalur, Karnataka has again started the commercial operation partially. Further, it will start the regular commercial operation on or before December 6, 2021.
Tantia Constructions: The company has received a Letter of Allotment for a bid value amounting to Rs 6.79 crore from Government of Tripura, against a contract work for ‘construction of RCC Bridge (Length 140 m.) over river Manu on Sonaimuri-Telia road.
Ugar Sugar Works: Labour Union at Ugar Khurd unit has withdrawn the strike.
Redington India: Marina IV (Singapore) Pte Limited sold 54.4 lakh equity shares in the company at Rs 150.42 per share on the BSE, the bulk deals data showed.
Moneycontrol News
