Stocks to Watch: Check out the companies making headlines before the opening bell.
Wipro: Wipro company Topcoder appoints CEO. Topcoder has appointed Doug Hanson as Chief Executive Officer (CEO). In his new global role, Doug will be responsible for the success of Topcoder and its customers and partners, the company said.
Cipla: Cipla to acquire 21% stake in Achira Labs. The pharma company has signed an agreement for acquiring a 21.05 percent stake in Achira Labs to develop affordable, innovative medical kits in India. The acquisition cost is Rs 25 crore.
Engineers India: Engineers India wins consulting services work for 3 projects. The company has won three separate projects in specialised chemicals, sunrise and infrastructure sectors. It will provide consulting services and the estimated order value of these projects is approximately Rs 80 crore.
Vadilal Industries: Vadilal Industries arm buys ice-cream parlour operator in US. The company, through its subsidiary Vadilal Industries USA Inc, has acquired KKC. The subsidiary has signed a Stock Purchase Agreement with ice-cream parlour operator Krishna Krupa Corporation for subscription of shares, which would result in the subsidiary holding up to 100 percent voting rights in KKC. The cost of acquisition is $ 0.25 million.
Aurobindo Pharma: Aurobindo Pharma acquires 51% stake in GLS Pharma. Aurobindo acquired a 51 percent stake in GLS Pharma, which specialises in oncology and has a manufacturing facility in Hyderabad. The acquisition cost for is Rs 28.05 crore.
Dilip Buildcon: Dilip Buildcon JV declared L-1 bidder for Surat Metro Rail Project. Dilip Buildcon’s joint venture company RBL-DBL has been declared the L-1 bidder for Surat Metro Rail Project in Gujarat. The order is worth Rs 1,061 crore. The company has also received the completion certificate for two road projects in Karnataka .
Max Ventures and Industries: Max Ventures arm completes acquisition of Accord Hotels and Resorts. The company’s subsidiary Max Estates has completed the acquisition of Accord Hotels and Resorts. The acquisition cost is Rs 293 crore. With this, Accord Hotels and Resorts becomes a step-down wholly-owned subsidiary of Max Ventures.
Nazara Technologies: Nazara Technologies to make strategic investment in Absolute Sports, Brandscale Innovations. The company has decided to make a further strategic investment of up to Rs 20.1 crore in material subsidiary Absolute Sports by acquiring shares of promoter Porush Jai, and up to Rs 10 crore in Brandscale Innovations by subscribing to optionally convertible debentures in one or more tranches.
Muthoot Capital Services: Muthoot Capital Services completes transaction of Rs 106.46 crore through securitisation of portfolio. The company has completed transaction of Rs 106.46 crore through securitisation of its portfolio. This is the first securitization / direct assignment transaction carried out by the company during FY23.
Alkem Laboratories: Alkem Labs receives Form 483 with 3 observations for US facility. The company has received Form 483 with three observations after inspection of its US unit. The US FDA inspected of the company’s manufacturing facility at St Louis, USA during June 6-June 17 period.
Galaxy Surfactants: SBI Mutual Fund offloads 1 lakh shares in Galaxy Surfactants. SBI Mutual Fund sold 1 lakh equity shares in the company via open market transactions on June 16. With this, its shareholding in the company has come down to 2.98 percent from 3.27 percent.
Indian Hume Pipe Company: Indian Hume Pipe Company secures work order of Rs 110 crore in Rajasthan. The company has secured a work order of Rs 110 crore from the Public Health Engineering Department (PHED), Rajasthan. The order is for cluster water supply project Package-VII of Chambal Bhilwara Water Supply Project Phase II of Jahajpur-Kotri Tehsils of district Bhilwara under Jal Jeevan Mission (JJM) with operation and maintenance for 10 years. The project is to be completed within 15 months.
Jeevan Scientific Technology: Jeevan Scientific gets Form 483 for clinical pharmacology facility. The United States Food and Drug Administration (US FDA) conducted an unannounced in-person inspection of the company’s clinical pharmacology centre facility and a remote record review of bioanalytical facility during May 31-June 10 and June 9-16. The clinical pharmacology centre received a Form 483, while there was no significant objectionable observations for bioanalytical facility. The observations are related to procedural improvements and it has addressed most of them with required evidence(s) during closeout(s), but the outcome of the audit(s) is not restrictive in nature and do not hinder the smooth operations of both facilities, the company said.
Moneycontrol News
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