Stocks to Watch: Check out the companies making headlines before the opening bell.
Mahindra Logistics: The company has entered into a business transfer agreement with Rivigo Services and its promoter for the acquisition of its B2B express business, as a going concern, on slump sale basis. The transaction cost is Rs 225 crore and the acquisition will be completed by November 1.
Embassy Office Parks REIT: Blackstone Inc is slated to sell 7.7 crore units of Embassy REIT worth Rs 2,650 crore via block deals on September 27, CNBC Awaaz reported citing sources. The offer price of the block deal stands at Rs 345 per unit.
Mastek: Smallcap World Fund Inc acquired 5,49,676 equity shares in the company via open market transactions. These shares were bought at an average price of Rs 1,759.97 per share. However, Hornbill Orchid India Fund sold 4,29,086 shares in the company at an average price of Rs 1,760.01 per share.
Amara Raja Batteries: The company said its board has given approval to the demerger of plastic component for battery business with the name of Mangal Industries. The turnover of the said business as of March 2022 was Rs 569.4 crore.
Filatex India: The company has commissioned its project for debottlenecking a melt capacity of 50 MT per day and manufacturing lines of 120 MT per day at Dahej Plant.
Orient Bell: The company announced completion of expansion at its Hoskote plant in Bengaluru district. This expansion involved a capex of around Rs 34 crore well ahead of schedule. With this, the total capacity of the company has increased from 32 MSM per annum to 33.8 MSM per annum including 10 MSM per annum of the associated entities.
Shree Ajit Pulp and Paper: The company said the board of directors are scheduled to be meeting on September 29 to consider issue of equity shares of the company on rights basis.
Mercator: Promoter AHM Investments sold 1 lakh shares or 0.03% in the company via open market transactions on September 23. With this, its stake in the company reduced to 3.14%, down from 3.17% earlier.
Jyoti Structures: The company has secured a contract from Sterlite Power Transmission for turnkey supply and construction of 400 KV and 220 kV double circuit transmission line in Goa and Karnataka. The contract is valued at Rs 237 crore and it will be commissioned in phased manner by December 2023 and July 2024.
Moneycontrol News
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