Stocks In the News: Check out the companies making headlines before the opening bell
HDFC: Subsidiary HDFC Capital Advisors Limited (HCAL) has entered into a share subscription agreement for acquisition of 3,90,666 equity shares of Loyalie IT-Solutions.
Reliance Industries: Reliance Retail acquires 89% stake in intimate wear maker Clovia. Reliance Retail Ventures Limited (RRVL) said on March 20 that it has acquired 89 percent equity stake in Purple Panda Fashions Private Limited, which owns and operates intimate wear maker Clovia. (Disclaimer: Moneycontrol is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary)
TVS Motor Company: Declared interim dividend. The board has declared an interim dividend of Rs 3.75 per share for the financial year ending March 2022.
NBCC (India): Received order from Administration of Union Territory of Ladakh. The company has received a work order from Administration of Union Territory of Ladakh, for providing comprehensive, design, engineering and project management consultant (PMC) services for various works. The estimated cost of the project is Rs 500 crore.
Gujarat Fluorochemicals: Board to consider interim dividend. The board on March 23 will consider a proposal for declaration of interim dividend for the financial year 2021-22.
Usha Martin: Promoter sold stake in the company. Promoter entity Peterhouse Investments sold 2.5 lakh equity shares in the company via open market transactions on March 17. With this, its shareholding in the company stands at 2.27 percent, down from 2.35 percent earlier.
Bharat Electronics: Board declares second interim dividend. The board has declared second interim dividend of Rs 1.50 per equity share for the financial year 2021-22.
Strides Pharma Science: Akston Biosciences and Biolexis enter into an agreement. Akston Biosciences and Biolexis entered into a licensing, manufacturing and commercialisation agreement for Akston’s AKS-452, a protein subunit COVID-19 vaccine. Under the agreement, Biolexis bagged the right to manufacture and commercialize AKS-452 (branded as AmbiVax-CTM) in India and over 130 countries in Asia, Latin America, and Africa largely covering the low-and-middle income countries (LMICs).
Navin Fluorine International: Promoter sells shares. Promoter Vishad P Mafatlal has sold 2.4 lakh shares of the company for charity and personal reasons.
Gujarat State Petronet: Mirae Asset Investment Managers (India) acquired additional stake. Mirae Asset Investment Managers (India) acquired 7.2 lakh equity shares in the company via open market transactions on March 16. With this, its shareholding in the company stands at 7.08 percent, up from 6.9 percent earlier.
KEI Industries: Smallcap World Fund, Inc acquired additional stake. Smallcap World Fund, Inc acquired 6.4 lakh equity shares in the company via open market transactions on March 16. With this, its shareholding in the company stands at 5.02 percent, up from 4.31 percent earlier.
SMS Pharmaceuticals: Received non-exclusive license. The company received non-exclusive license to manufacture and supply of nirmatrelvir through the Medicine Patent Pool (MPP). This is an oral COVID-19 medicine developed by Pfizer.
Jubilant Pharmova: Received ANDA approval for Doxepin hydrochloride capsules. Subsidiary Jubilant Pharma through its subsidiary Jubilant Cadista Pharmaceuticals Inc. has received abbreviated new drug application (ANDA) approval for Doxepin hydrochloride capsules. This is a generic version of Sinequan, used in anxiety, depression, and other target symptoms of psychoneurosis.
Rushil Decor: Appointed new CFO. The board has approved an appointment of Hiren Padhya as chief financial officer of the company.
Deccan Gold Mines: Signed MOU for stake in gold projects in Finland. The company entered into a non-binding Memorandum of Understanding with Tally Ltd (Guernsey, Channel Islands), to acquire its stake in gold projects in Finland.
SJVN: Secured 100 MW grid connected solar power project in Gujarat. The company has secured 100 MW grid connected solar power project in Gujarat through tariff based competitive bidding conducted by Gujarat Urja Vikas Nigam. The project will generate 245.28 million units energy annually and the cumulative energy generation over a period of 25 years will be 6,132 million units.
EIH: Board approved sale of stake. The board has approved sale of entire shareholding in subsidiary EIH Flight Services, Mauritius for MUR 325 million (Rs 55.2 crore).
Gujarat Industries Power Company: Stopped power generation at its Vadodara plant. The company has stopped power generation from its 145 MW combined cycle power plant, gas-based station-I at Vadodara, due to increasing price of natural gas after the beginning of Ukraine-Russia war.
Selan Exploration Technology: Blackbuck Energy Investments to acquire 21-25% stake. Blackbuck Energy Investments will acquire a minimum of 31.92 lakh equity shares of the company (21 percent of the voting share capital) and up to a maximum of 38.15 lakh equity shares (25.10 percent stake), from promoters. These shares will be acquired by Blackbuck at around Rs 200 per share.
Granules India: Received licences from Pfizer. The company received licences from Medicines Patent Pool (MPP) to manufacture and market generic versions of Pfizer’s oral treatment nirmatrelvir. This drug will be co-packaged with ritonavir for treatment of COVID-19. The licenses are applicable for both active pharmaceutical ingredients (API) and finished products, in tablet form, of nirmatrelvir; ritonavir.
Cerebra Integrated Technologies: Company to sell stake in its subsidiary. The company has executed a Share Transfer Agreement with a potential purchaser from Dubai for transfer of its entire shareholding of 86.5 percent in subsidiary Cerebra Middle East FZCO, Dubai. The company would like to focus on E waste management now being the core business of the company. Cerebra will plan expansion in the said area.
Atul: Board to consider buy-back of shares. The board on March 25 will consider a proposal for buy-back of equity shares of the company.
Spandana Sphoorty Financial: Appointed Managing Director and CEO. The board has approved appointment of Shalabh Saxena as Managing Director and Chief Executive Officer of the company for a period of five years, and Ashish Damani as President and Chief Financial Officer of the company.
Moneycontrol News
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