Stocks In the News: Check out the companies making headlines before the opening bell
HDFC Bank: The Reserve Bank of India (RBI) has lifted the restrictions that were placed on the fresh digital launches of HDFC Bank, according to the private lender. “The Reserve Bank of India has lifted the restriction on the business generating activities planned under the Bank’s Digital 2.0 programme, vide its letter dated March 11, 2022. The same has been notified to the Stock Exchanges on March 12, 2022,” HDFC Bank said.
Jubilant FoodWorks: CEO and wholetime Director resigns. Pratik Rashmikant Pota has resigned as the CEO and wholetime director of the company, to pursue opportunities outside Jubilant FoodWorks.
CESC: Completed sale and transfer of shareholding. The firm said transactions for sale and transfer of 100 percent shareholding in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries had entered into share purchase agreement with Torrent Power for sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh, in September 2021. Surya Vidyut was a wholly owned subsidiary of CESC.
Lupin: Received approval from USFDA. The pharma major has received approval from USFDA for abbreviated new drug application for Vigabatrin for oral solution USP. This drug is the generic equivalent of Sabril owned by Lundbeck Pharmaceuticals, LLC. Vigabatrin had estimated annual sales of $ 275 million in the US as per IQVIA MAT data of December 2021.
Dhanvarsha Finvest: Board approves fundraising. The board has approved fundraising of Rs 88.65 crore by issuing equity shares and warrants to non-promoters on a preferential basis.
Inox Wind: Promoter creates pledge on equity shares. Promoter Inox Wind Energy created a pledge on 12.2 lakh equity shares of the company on March 9.
Gail (India): Board approves second interim dividend. The board has approved the payment of second interim dividend of Rs 5 per equity share for the financial year FY22. The record date for eligibility of shareholders for payment of dividend has been fixed as March 22.
Hindalco Industries: ICICI Prudential MF sold shares. ICICI Prudential Mutual Fund through its various schemes sold 11.81 lakh equity shares in the company via open market transactions on March 9. With this, its shareholding in the aluminium major stands at 3.01 percent, down from 3.07 percent earlier.
Kesar Petroproducts: Appointed new CFO. The board has appointed Jignesh Dinesh Desai as the chief financial officer (CFO) of the company.
KSE: Godrej Agrovet acquired additional stake. Godrej Agrovet acquired 1,612 equity shares in the company via open market transactions. With this, its shareholding stands at 7.01 percent, up from 6.96 percent earlier.
Shree Ganesh Remedies: Became the highest bidder. The company has been declared as the highest bidder with Rs 26 crore bid, for the e-auction of assets of Jaiswal Pharmachem.
Seshasayee Paper & Boards: Promoter bought additional stake. Promoter N Gopalaratnam bought 32,000 equity shares in the company via open market transactions on March 10. These shares were acquired at an average price of Rs 154.83 per equity share. With this, Gopalaratnam’s shareholding stands at 0.12 percent, up from 0.07 percent earlier.
Tanfac Industries: Anupam Rasayan India acquired 24.96 percent stake. Anupam Rasayan India acquired 24.96 percent stake in the company via off-market transactions on March 11. The stake was acquired by Anupam at Rs 595 per share from sellers. With this, Anupam has become promoter of Tanfac along with Tamil Nadu Industrial Development Corporation (TIDCO). In February this year, Anupam had entered into share purchase agreement with sellers – Birla Group Holdings, Pilani Investment & Industrial Corporation and Askaran Agarwala.
Data Infrastructure Trust: Completed acquisition of Space Teleinfra. The Trust has completed the acquisition of 100% shareholding in Space Teleinfra. STPL is engaged in the business of providing passive telecom infrastructure services to telecom service providers. The transaction cost is Rs 899.76 crore.
Sobha: Jagdish Chandra Sharma resigns. Jagdish Chandra Sharma has resigned from the position of director, vice chairman, managing director of the company.
Surya India: CFO resigns. Satyaprakash Gaur has resigned as chief financial officer of the company.
Moneycontrol News
