Stocks In News: Check out the companies making the biggest headlines before the opening bell.
Data Patterns India: The company will make its debut on the bourses on December 24. The issue price is fixed at Rs 585 per share.
PSP Projects: The company has divested its 100 percent stake in PSP Projects INC, a wholly owned subsidiary.
Apollo Micro Systems: The company has bagged orders worth Rs 5.72 crore from DRDO.
Allcargo Logistics: The company has approved to restructure the business by way of a scheme of arrangement and demerger. Container freight station/inland container depots and any other related logistics businesses of the company will be demerged into Allcargo Terminals, and engineering and equipment leasing and hiring solutions, logistics park, warehousing, real estate development and leasing activities and other related businesses of the company will be demerged into Translndia Realty and Logistics Parks.
Adani Enterprises: The company has incorporated a wholly owned subsidiary – Adani Data Networks (ADNL) – for providing robust and reliable domestic and international network connectivity services and bespoke solutions.
Glenmark Pharma: CRISIL has upgraded outlook to ‘Positive’ from ‘Stable’, while reaffirming long term rating at AA-.
Mphasis: Subsidiary Mphasis Consulting, UK, and Ardonagh has agreed to set up a shared services entity to service middle and back-office functions. To execute this, Mphasis and Ardonagh, signed a business venture agreement wherein Mphasis acquires 51 percent in Mrald, a company incorporated in England and Wales.
TCS: La Mobilière, the oldest private non-life insurer in the Swiss market, selected TCS as strategic partner to accelerate its digital transformation agenda.
SBL Infratech: The company will be shortly launching its upcoming residential floors project ‘Madhav Appartment’ at Uttam Nagar, New Delhi.
Tega Industries: The company has given an in-principle approval for setting up an additional larger plant in Chile.
ISGEC Heavy Engineering: Subsidiary Saraswati Sugar Mills (SSML) has commenced commercial production at the 100 KLPD ethanol plant. SSML has invested Rs 178 crore in the construction of the plant and making it operational.
Ircon International: The company has incorporated a wholly owned subsidiary company – Ircon Akloli-Shirsad Expressway as a special purpose vehicle for the purpose of construction of eight lane access controlled expressway in Maharashtra on Hybrid Annuity Mode under Bharatmala Pariyojana (Phase II – Package XIV).
Biocon: Biocon’s partner US-based Equillium Inc. has expanded its EQUALISE study in Systemic Lupus Erythematosus (SLE) and Lupus Nephritis for Itolizumab to clinical centers in India. EQUALISE is a Phase 1b openlabel, proof-of-concept clinical study currently studying Lupus Nephritis patients in the Part B portion of the clinical trial.
Ajanta Pharma: The company on December 28 will consider a proposal for buy-back of equity shares.
GPT Infraprojects: The company has bagged order valued at Rs 56 crore.
Gateway Distriparks: Life Insurance Corporation of India sold 2.07 percent stake in the company via open market transactions, reducing shareholding to 4.06 percent from 6.14 percent earlier.
Godawari Power and Ispat: Subsidiary Godawari Green Energy (GGEL) has temporarily shut-down its operations at 50 MW solar power plant for complete overhauling and major maintenance of the plant at Village Nokh, Rajasthan, which is expected to be completed within 3 to 4 weeks.
Rakesh Patil
