STOCKS IN ACTION 24 July
Aarti Drugs: The company has approved the buyback of 6.65 lakh fully paid-up equity shares, representing 0.72%, at Rs 900 per share, aggregating up to Rs 59.85 crore, which is 5.44% and 5.10% of the fully paid-up equity share capital and free reserves.
NHPC: The government of Arunachal Pradesh has allotted the Subansiri Upper HE Project of 2000 MW and the Kamala HE Project of 1800 MW to the company.
Zomato: The company’s unit, Zomato Media Portugal, Unipessoal Lda, has initiated the process of liquidation. ZM Portugal is not a material subsidiary of the company, and the dissolution will not affect the turnover of the Company. ZM Portugal is worth Rs 1.2 crore, representing 0.01% of Zomato's net worth.
Power Finance Corporation: The company has signed a memorandum of understanding worth Rs 2.37 lakh crore with 20 companies, both public and private, in the clean energy segment. The company inked these MoUs with Adani Group, Greenco, ReNew, Continuum, Avaada, JBM Auto, Megha Engineering & Infrastructure, and Rajasthan Renewable Energy, among others.
BEML appoints Shantanu Roy as Chairman & Managing Director of the co w.e.f. August 1
DLF to enter Mumbai real estate market, arm DLF Home Developers signs agreement for a JV with Trident
Hindustan Zinc eyes lithium assets acquisition as India discovers 5.9 million tonnes in Jammu and Kashmir (From Agencies)
Shriram Finance in focus: MSCI to increase the free-float of Shriram Finance
SJVN: The company signed Power Purchase Agreements for 300 MW of renewable energy projects. The agreements were signed by the company’s wholly-owned subsidiary, SJVN Green Energy. The deal includes a 200-MW solar project in Maharashtra and 100-MW wind power capacity in Delhi. The development costs of Maharashtra and Delhi projects are Rs 1,200 crore and Rs 750 crore, respectively.
Bajaj Holdings & Investment: The company acquired a 0.004% stake in Federal Bank for Rs 1.17 crore.
SHRIRAM FINANCE: MSCI will be increasing the free-float of Shriram Finance
Increase in free float is owing to Piramal Enterprises stake sale
Increase in free-float will lead to an inflow of $70 million
BANDHAN BANK: BNP Paribas bought 89lk shares at 211
RAILTEL: Quant MF bought 23lk at 150.84
Biocon: US FDA issues Form 483 with 6 observations for Biocon's drug substance, drug product units and quality control laboratories of insulins facility in Malaysia as well as 2 observations for the delivery devices unit
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STOCKS IN ACTION 21 JULY
IndiaMart InterMesh: The board of the company has approved a buyback of up to Rs 500 crore consisting of 12.5 lakh shares, representing a 2.04% stake via tender offer. The buyback price will be Rs 4,000 per share, a premium of 38% over Thursday’s closing price.
Larsen & Toubro: The company will consider a share buyback and special dividend on July 25.
IndusInd Bank: The board of the bank approved raising Rs 20,000 crore via debt securities on a private placement basis.
Jindal Stainless: The company completed the acquisition of Jindal United Steel by acquiring the remaining 74% stake for Rs 958 crore, making JUSL a 100% owned subsidiary of JSL.
LTIMindtree: The company announced a strategic partnership with CYFIRMA to enhance the threat intelligence capabilities of its XDR platform. Larsen & Toubro, through its L&T Innovation Fund, recently invested in CYFIRMA in a pre-Series B round of funding.
Hindustan Aeronautics: The company has signed a Letter of Intent on co-operation for Light and Medium Utility Helicopters for the Armed Forces of Argentina.
TataMotors JLR appoints Adrian Mardell as Chief Executive Officer & Richard Molyneux as Chief Financial Officer
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