Stocks In the News: Check out the companies making headlines before the opening bell.
Vedanta: The company has notified third hydrocarbon discovery in OALP block. Vedanta has announced that it has made an oil discovery in its exploratory well in Rajasthan’s Barmer district. In a regulatory filing, the company said it has notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas about the oil discovery in a block that it received under the Open Acreage Licensing Policy (OALP). This is the third hydrocarbon discovery notified by the company under the OALP portfolio. The stock has risen over 13 percent in the last one month.
Hero MotoCorp: Appoints Ranjivjit Singh as chief growth officer. The world’s largest manufacturer of motorcycles and scooters has created a new position – Chief Growth Officer – and appointed Ranjivjit Singh to the post with immediate effect. Singh was earlier heading the marketing segment. The stock has gained nearly 3 percent in the last five sessions.
L&T Finance Holdings: The company sees huge block deal. Citigroup Global Markets Mauritius sold 5,78,69,992 equity shares in the company, however, BNP Paribas Arbitrage was the buyer for same number of shares via open market transactions at an average price of Rs 71.35 per share on the BSE, as per the bulk deals data. The scrip has fallen nearly 8 percent in the last two weeks.
NHPC: The company’s Sewa II hydel plant resumes power generation. NHPC said its 120 MW Sewa-II power station in Mashka in Union Territory of Jammu and Kashmir has resumed power generation. The power station was under complete shutdown from September 25, 2020 due to damage of the Head Race Tunnel (HRT). The stock has gained around 2.4 percent in the last five sessions.
Adani Enterprises: Adani group in pact with Ballard Power. Adani Group has signed a non-binding pact with Nasdaq-listed Ballard Power Systems to evaluate a joint venture for investment in commercial production of hydrogen fuel cells for various mobility and industrial applications in India.
Shankara Building Products: The company sees block deal. Flowering Tree Investment Management Pte Ltd sold 36,000 shares in the company through open market transactions on February 18. With this sale, Flowering Tree now holds 4.85 percent stake from 5.01 percent earlier. The scrip has risen over 40 percent in the last 12 sessions.
Delta Corp: The company sells shares in Advani Hotels. Delta Corp has sold 5,41,797 equity shares in the company through open market transactions at an average price of Rs 99.4 per share on the NSE, as per the bulk deals data. Advani Hotels has gained over 17 percent in the last five sessions.
Krsnaa Diagnostics: The company wins new order. Himachal Pradesh gave an order to Krsnaa Diagnostics for providing diagnostic and laboratory services in the state. Krsnaa will install, operate and maintain Routine and Advance Laboratory testing facilities at selected Public Health Institutions (PHIs). The scrip has fallen over 10 percent in the last one week.
Atlas Cycles (Haryana): Chander Mohan Dhall reappointed as CFO. Chander Mohan Dhall is re-appointed as Chief Financial Officer (CFO) of the company for a period of one year from April 1, 2022.
Dhunseri Tea & Industries: The company sells its Santi Tea Estate to Sri Shyam Santi. Dhunseri Tea & Industries informed exchanges that it sold its Santi Tea Estate excluding Tea Manufacturing Factory to Sri Shyam Santi Tea nominee Sanjay Rasiwasia for an undisclosed amount. The possession of the said tea estate has been handed over. The stock has fallen nearly 18 percent in the last two weeks.
Ducon Infratechnologies: The board will meet on February 25. The company said its board will meet on February 25 to consider the proposal for issue of bonus shares. The stock has lost over 7.5 percent in the last two sessions.
7NR Retail: The firm approved stock split. The company informed exchanges that it has approved the sub-division of equity shares from face value of Rs 10 each to face value of Re 1 each. The stock declined nearly 18 percent in the last two weeks.
Moneycontrol News
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