Stocks In the News: Check out the companies making headlines before the opening bell.
Vedant Fashions: The company will be listing on the BSE and NSE today. The final issue price has been fixed at Rs 866 per share. It would be the third listing in year 2022 after AGS Transact Technologies and Adani Wilmar.
Cipla: Promoters sold 2 percent of their shareholding via open market transactions. Promoter MK Hamied sold 67,23,252 equity shares in the pharma company for Rs 910.15 per share while another promoter YK Hamied offloaded 1,34,46,504 equity shares in the company at Rs 910.05 per share through open market transactions on the BSE as per the bulk deals data. The combined stake sale represented little more than 2 percent of total paid up equity in Cipla. The stock was down 3.5 percent on Tuesday. During the past one year, it has generated returns of 9 percent.
Shree Pushkar Chemicals & Fertilisers: Promoter Gautam Gopikishan Makharia acquired shares via open market. Promoter Gautam Gopikishan Makharia acquired 1,79,396 equity shares via open market transactions, in the company at Rs 206.9 per share. However, Fashions Brands (India) sold 1,66,027 equity shares at Rs 206.8 per share as per the bulk deals data. The stock was up Rs 2.55 on Tuesday. It has generated returns of 41 percent in the past one year but is down 10 percent in the past one week.
Punjab & Sind Bank: IL&FS Tamil Nadu Power Company has been declared as fraud. NPA account, IL&FS Tamil Nadu Power Company with outstanding dues of Rs 148.9 crore has been declared as fraud. The bank reported this fraud to RBI and has already made provisions amounting to Rs 59.5 crore. The stock rose nearly 2 percent on Tuesday and is up 13% in the past one year. In the past one week however, it is down 5 percent.
Wheels India: ICRA has downgraded its long term and short term rating. ICRA has downgraded its long term rating for bank lines to ‘A-‘, from ‘A’ earlier while keeping outlook stable. The rating agency also downgraded its short term rating for bank lines to ‘A2+’, from ‘A1’ earlier. The stock fell more than one percent on Tuesday. It has generated returns of 30% in the past one year but is down 10 percent in the past one week.
Emami: Emami International FZE, Dubai has setup a new wholly-owned subsidiary in Dubai. Emami International FZE, Dubai a wholly-owned subsidiary of the company, has setup a new wholly-owned subsidiary ‘Emami International Personal Care Trading LLC’ in Dubai for its business purposes. Emami International Personal Care Trading LLC is the step-down subsidiary of Emami. The stock was flat on Tuesday. The stock has generated 5% returns in the past one year and has been flat in the past one week.
Burger King India: The company closed its qualified institutional placement issue. The company closed its qualified institutional placement issue and finalised the issue price at Rs 129.25 per share, a discount of 5 percent to the floor price of Rs 136.05 per share. The stock gained 1.4 percent on Tuesday. The stock is down 10% in the past one year and down 4 percent in the past one week.
Torrent Power: The company acquired special purpose vehicle Visual Percept Solar Projects. The company completed transaction of acquisition of 100 percent stake in special purpose vehicle Visual Percept Solar Projects. The acquisition was as per the Share Purchase Agreement between Torrent Power, and Blue Daimond Properties and Balrampur Chini Mills. The stock was up 0.6 percent on Tuesday. The stock has generated 45 percent returns in the past one year but is down 17 percent in the past one month.
Repco Home Finance: Change in directors and key management personnel. The housing finance company has appointed K Lakshmi as its Chief Financial Officer. It also appointed K Swaminathan as its Additional Director in the capacity Managing Director & Chief Executive Officer of the company, for a period of 3 years. The stock was down nearly 12 percent on Tuesday. It is trading down 14 percent in the past one year and down 13 percent in the past one week.
Redington India: Investor Marina IV (Singapore) Pte Ltd sold a portion of its equity stake in the company. Investor Marina IV (Singapore) Pte Ltd sold 2.14 percent equity stake in the company via open market transactions on February 11. As a result, its shareholding in the company dropped to 3.22 percent, from 5.36 percent earlier. The stock climbed 4.72 percent on Tuesday. The stock has doubled in the past one year and is up 6.5 percent in the past one week.
NCL Industries: Promoters acquired shares via open market. Promoter Kalidindi Ravi & Kalidindi Roopa acquired 43,600 equity shares in the company via open market transactions on February 14. As a result, their shareholding in the company increased to 5.14 percent, from 5.04 percent earlier. The stock was down 1.7 percent on Tuesday and is down 13 percent in the past one week.
Moneycontrol News
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