Reliance Industries: Brokerage firm JP Morgan India has upgraded its rating on shares of Reliance Industries to ‘overweight’ from ‘neutral’ earlier and set a price target of Rs 3,170 implying an upside of more than 22 percent over the next 12 months.
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Usha Martin: Promoters offload 63,000 shares in Usha Martin. Promoter entities Peterhouse Investments & PACs have sold 63,000 equity shares in the company via open market transactions on June 14 and June 16. With this, their shareholding in the company stands reduced to 1.91 percent, down from 1.94 percent earlier.
Jyothy Labs: Nalanda India Equity Fund buys 6.55 lakh shares in Jyothy Labs. Nalanda India Equity Fund bought 6.55 lakh equity shares in the company via open market transactions on June 14. With this, its shareholding in the company stands increased to 5.06 percent, up from 4.88 percent earlier.
Voltamp Transformers: HDFC Mutual Fund acquires 50,000 shares in Voltamp Transformers. HDFC Mutual Fund through its several funds acquired 50,000 equity shares in the company via open market transactions on June 14. With this, its shareholding in the company increased to 5.25 percent, up from 4.91 percent earlier.
UPL: UPL arm acquires Kudos Chemie for Rs 40 crore. UPL through its subsidiary USCL has acquired Kudos Chemie for Rs 40 crore, and is required to invest Rs 237 crore in Kudos over a period of 2 years as per resolution plan approved by NCLT. Kudos manufactures specialty chemicals used as beverage and pharmaceutical ingredients and has manufacturing facility near Chandigarh.
Indian Overseas Bank: Indian Overseas Bank to raise Rs 2,000 crore in FY23. The public sector lender said the board has approved the capital plan for FY23. The bank will raise up to Rs 1,000 crore by issuing equity shares and another Rs 1,000 crore by issuing bonds, in FY23.
NBCC (India): NBCC bags Rs 330.35 crore worth orders in May. The company has secured total Business of Rs 330.35 crore during the month of May, 2022.
Astron Paper and Board Mill: Astron Paper and Board Mill completes trial of new product at Gujarat unit. The company has completed the trial of new product named ‘absorbent paper’ successfully at its subsidiary Balaram Papers in Gujarat. Taking into consideration the current market situation of paper mills and paper industries, it is unable to continue the plant at its full capacity. However, the production will be carried on as and when the sales orders are received.
Rama Steel Tubes: Nomura Singapore buys 1 lakh shares in Rama Steel Tubes. Nomura Singapore bought 1 lakh equity shares in the company via open market transactions on June 15. These shares were acquired at an average price of Rs 371 per share.
KBC Global: Nomura Singapore offloads 3.2% stake in KBC Global. Nomura Singapore has offloaded 1,96,20,000 equity shares (3.19 percent) in the company via open market transactions, at an average price of Rs 4.4 per share. It had held 4.01 percent (2.46 crore shares) in the company as of March 2022. In this bulk deals, E Waste Recycling acquired 1.3 crore shares, Wealth 4 U Hospitality Consultancy bought 1.32 crore shares, Arihant Share Consultancy purchased 50 lakh shares and Nakshatra Garments bought 50 lakh shares in the company at same price.