Stocks In the News: Check out the companies making headlines before the opening bell.
Tata Consumer Products: Tata Consumer Products board will meet on March 29 to consider raising funds via preferential share sale. The Tata Group firm plans to issue preferential shares equivalent to 1.5% of its paid up equity capital to a foreign buyer.
Axis Bank: SEBI levies Rs 5 lakh penalty on Axis Bank for flouting merchant banking (MB) regulations. The matter dates back to a period between August 2016 and August 2019.
Zomato: Zomato-backed Curefit revenue shrinks 67% to Rs 161 crore in FY21 from Rs 496 crore in FY20. The firm posted a loss of Rs 671 crore in FY21, entrackr website reported.
Kalpataru Power Transmission: SBI Funds Management acquired 14.5 lakh equity shares in the EPC company via open market transactions on March 23. With this, its shareholding in the company stands at 7.25 percent, up from 6.27 percent earlier.
Shally Engineering: Shally Engineering sees huge block deal. Shaily Engineering Plastics: Lighthouse India III Equity Investors Ltd & PACs bought 2.48 percent in the company via open market transactions on March 24. With this, their shareholding in the company stands at 9.1 percent, up from 6.62 percent earlier.
Kohinoor Foods: Kohinoor Foods board approves sale of its factory. Kohinoor Foods: The board has approved the sale of the factory unit of company at Sonepath (Haryana), by way of slump sale, and appointment of Chashu Arora, Chartered Accountant, as CFO of the company.
Kotak Mahindra Bank: Kotak Mahindra Bank sees huge block deal. Kotak Mahindra Bank: The Regents of the University of California bought 1,12,27,404 equity shares in the private sector lender via open market transactions at an average price of Rs 1,699.05 per share, however, Canada Pension Plan Investment Board sold 4 crore shares in the bank at an average price of Rs 1,700.10 per share.
Exide Industries: Exide Industries arm Chloride Metals starts commercial production at its Haldia facility. Exide Industries: Subsidiary Chloride Metals has started commercial production at its newly set-up green field manufacturing facility of battery recycling at Haldia, West Bengal. The said recycling plant is equipped with modern state-of-the-art technology with the help of global engineering firm, Engitec Technologies S.P.A. Italy. The total installed capacity of the plant is 108,000 MT per annum.
Gulshan Polyols: Gulshan Polyols raises Rs 79 crore via QIP. Gulshan Polyols: The company has raised Rs 78.87 crore through QIP issue as the board has approved the allotment of 24,16,000 equity shares to eligible QIB at the issue price of Rs 326.48 per equity share.
Lumax Auto Technologies: State-owned company IFCI has approved Lumax’ application filed under the Production Linked Incentive (PLI) scheme for automobile and auto component industry (PLI-AUTO).
Zen Technologies: Zen Tech gets order from Indian Army. The company has received a project sanction order (PSO) from the Indian Army, for the design and development of a prototype of Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks.
Mahindra & Mahindra: NCLT approves merger of M&M and its subsidiary. The National Company Law Tribunal has approved the scheme of merger by absorption of Mahindra Engineering and Chemical Products, Retail Initiative Holdings and Mahindra Retail, with Mahindra and Mahindra.
Capri Global Capital: Capri Global Capital in pact with SBI to offer home loans. Subsidiary Capri Global Housing Finance has entered a co-lending alliance with the State Bank of India (SBI), country’s largest public-sector bank. The collaboration aims to offer housing loans under priority sector to eligible homebuyers at competitive interest rates across its 110 touchpoints in India.
GTPL Hathway: GTPL Hathway signs partnership with Verimatrix. The digital cable TV and broadband service provider signed partnership with Verimatrix to onboard its video content authority system (VCAS) to protect its Google Android TV-based DVB Hybrid set top box. Verimatrix is the leader in powering the modern connected world with people-centered security.
Vikas EcoTech: Vikas Eco Tech sees huge block deal. Nomura Singapore acquired 66 lakh equity shares in the company via open market transactions at an average price of Rs 5.35 per share.
Moneycontrol News
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