Stocks In the News: Check out the companies making headlines before the opening bell.
December 13, 2021 / 08:42 AM IST
Vedanta: The company has approved second interim dividend of Rs 13.50 per equity share on a face value of Re 1 per share for FY22, amounting to Rs 5,019 crore.
UltraTech Cement: The company participated in the e-auction of Ravur Limestone Shlock conducted by Karnataka government and has been declared as the preferred bidder.
IRB Infrastructure Developers: Company’s subsidiary Pathankot Mandi Highway Private Limited (SPV) has achieved financial closure for the project of Rehabilitation and Upgradation to Four Lane Configuration and Strengthening of Punjab-HP Border to Mo of Pathankot-Mandi Section in Himachal Pradesh on Hybrid Annuity Mode.
Godrej Properties: The company has acquired 100 percent stake in Yerwada Developers (YDPL).
Tega Industries: The company will make a debut on the bourses on December 13. The issue price has been fixed at Rs 453 per equity share.
Sigachi Industries: The company reported higher consolidated profit at Rs 9.86 crore in Q2FY22 against Rs 7.93 crore in Q2FY21, revenue rose to Rs 57.19 crore from Rs 54.95 crore YoY.
Varroc Engineering: ICRA revised long term rating on company’s term loan to A (Negative) from A+ (Stable).
Antony Waste Handling Cell: Its material subsidiary, AG Enviro Infra Projects has received the letter of intent for contract namely ‘door to door collection and transportation of municipal solid waste to disposal site and operation and maintenance of equipment/machineries’ from city – Sadar Paharganj Zone of North Delhi Municipal Corporation (NDMC).
Endurance Technologies: The company commenced commercial production at its new plant at Waluj, Aurangabad. The plant set up to manufacture braking systems will cater to company’s esteemed OEM (original equipment manufacturer) customers.
Kopran: Indian Patent office has granted process patent number for 20 years to Kopran Research Laboratories, wholly owned subsidiary of the company, for the active pharmaceutical ingredient (API) product Nitroxoline.
Jubilant Industries: Company’s material unlisted wholly owned subsidiary, Jubilant Agri and Consumer Products (JACPL) has temporarily closed down manufacturing activities at plant located in Sahibabad, Uttar Pradesh, upon receipt of directions from Commission for Air Quality Management in National Capital Region and adjoining areas.
Edelweiss Financial Services: The company said Edelweiss Group has acquired additional 5.28% stake in Edelweiss Wealth management, stake rises to 44.16%.
Minda Industries: The company has entered into a joint venture agreement with FRIWO AG Germany, a leading international manufacturer of innovative power supply units and e-drive solutions, to combine their manufacturing prowess and technical expertise to manufacture and supply various electric vehicle components in Indian subcontinent. The company will hold a majority stake of 50.1 percent in the joint venture entity.
Beardsell: The company will open its rights issue on December 31, 2021 and close on January 14, 2022. The rights issue price has been fixed at Rs 10 per share.
IIFL Securities: The company has entered into a share purchase agreement (SPA) for the sale of its entire stake (21.47 percent) in Giskard Datatech (Tendlyne), an associate of the company, to IIFL Capital Enhance Fund (AIF Category II). With this, Tendlyne will cease to be an associate of the company.
Alembic Pharmaceuticals: The company has made a strategic investment in RIGlmmune Inc, a biopharmaceutical research company, cofounded by two prominent Yale University professors Anna Pyle and Akiko Iwasaki.
Globus Spirits: The company has resumed its operation at Dhudhua, Bihar which was temporarily disrupted owing to flooding and water logging of the factory premises caused by heavy rains since August 15, 2021.
Shivam Autotech: The company has decided to reschedule the issue-opening date of the proposed right issue to December 31, 2021-January 28, 2022, from earlier December 14-January 12.
Beardsell: The company will open its rights issue on December 31, 2021 and close on January 14, 2022. The rights issue price has been fixed at Rs 10 per share.
IndoStar Capital Finance: Amol Joshi has tendered his resignation as Chief Financial Officer of the company.
