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12 September 2023 03:23

STOCKS IN ACTION 12 SEPTEMBER

Reliance Industries: KKR will invest Rs 2,069.5 crore in the company's subsidiary, Reliance Retail Ventures, increasing its stake to 1.42% from 1.17%. The deal values the retail giant at Rs 8.36 lakh crore.

ICICI Bank: The private lender has received the RBI's nod for the re-appointment of Sandeep Bakhshi as MD and CEO for three years with effect from Oct. 4.

NTPC: Subsidiary NTPC Green Energy, signed an MoU with Nayara Energy to explore opportunities in the green hydrogen and green energy space for captive usage.

Larsen & Toubro: The company has increased the buyback price to Rs 3,200 from Rs 3,000 apiece, while the number of shares has been reduced from 3.33 crore to 3.12 crore.

Power Grid Corp: The company won the bid for a 20 GW inter-state transmission project in Rajasthan on a build, own, operate, and transfer (BOOT) basis.

Lupin: The drugmaker plans to enter into a business transfer agreement with subsidiary Lupin Manufacturing Solutions to carve out two active pharmaceutical ingredient manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. The consideration expected to be received is Rs 750–850 crore, and the deal is likely to be entered int

Torrent Power: In a clarification on media reports, the company said it has received confirmation from the members of the promoter group that no plans to create any pledge over the promoter's shares in the company are under consideration.

Krishna Institute of Medical Sciences: Subsidiary KIMS Hospital Enterprise has acquired a further equity stake of 13.24% in Kondapur Healthcare for Rs 20 crore. The total stake now stands at 19.86%.

Laurus Labs: The company signed a share purchase agreement with a promoter and other shareholders of Laurus Bio for 37,641 equity shares through secondary purchase for Rs 71.6 crore. With this acquisition, the company's shareholding in Laurus Bio will become 87.58% on a fully diluted basis.

TVS Supply Chain Solutions: The board has agreed to acquire equity shares of three of the company's wholly owned subsidiaries: TVS Logistics Investments UK, TVS Logistics Investments Inc. USA, and TVS Supply Chain Solutions Pte. Ltd., Singapore, for an aggregate cost of Rs 450 crore. The time period for the completion of investment in these overseas subsidiaries is Nov. 30. Further, it has reporte

Gravita India: The Government of India has upgraded the status of the company from "Three Star Export House" to "Four Star Export House". This recognition will help company in ease of doing businesses, easier facilitation of various export licensing norms, relaxation of business norms being issued by the government, various export-related benefits, and self-recognition among categories of export h

Shyam Metalics and Energy: The promoters have opted to exercise the oversubscription option to the extent of 30.43 lakh equity shares, representing 1.19% of the share capital in addition to the 1.30 crore shares. The total offer size will be up to 1.61 crore shares, of which 16.09 lakh shares will be available as part of the offer for the retail category on T+1 day, Sept 12.

ION Exchange: Indraneel Dutt has been appointed CEO with immediate effect.

Gufic Biosciences: The drugmaker has received approval from TGA, Australia, and ANVISA, Brazil, for Parecoxib 40mg injection for short-term treatment of acute pain and post-operative pain in adult patients.