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28 March 2024 02:01

STOCKS IN ACTION 28 MARCH

UltraTech Cement: During the course of its capacity expansion programmes, the company identified opportunities for debottlenecking across various locations, including its wholly-owned subsidiary. Some of these have since been completed and stabilised, resulting in an additional production capacity of 2.4 mtpa. The total domestic grey cement manufacturing capacity stands at 140.8 mtpa. It will acquire a 26% stake in 02 Renewable Energy for Rs 15.7 crore.

Bharat Heavy Electricals: The company has received an order worth Rs 4,000 crore from Adani
Power for setting up a thermal power plant in Chhattisgarh.

NHPC: The board approved plans to borrow Rs 6,100 crore from the market in tranches for FY25.
It also gave in-principle approval for the closure of Loktak Downstream Hydroelectric in Manipur, subject to government approval.

Dr Reddy's Labs: The drugmaker entered into an exclusive distribution partnership with Sanofi Healthcare India to promote and distribute the SHIPL vaccine brands, including well-established paediatric and adult vaccines, in India.

LIC: The insurer has filed appeals before tax authorities in Ahmedabad and Bangalore on certain
GST demands.

Tata Elxsi: The company and Dräger, a global leader in medical and safety technology, have announced a collaboration to advance critical care innovation in India.

GOCL Corp: The company entered into an MoU with Squarespace Infra City, Hyderabad for the monetisation of approx. 264.50 acres of land situated at Kukatpally, Hyderabad.

Texmaco Rail & Engineering: The company's Rs 250-crore QIP saw the participation of Samena Capital, Abu Dhabi Investment Authority, Societe Generale, and Mahindra Manulife Mutual Fund.

Balmer Lawrie & Company: The company will set up a free trade warehousing zone in the Special Economic Zone of Jawaharlal Nehru Port Authority near Mumbai on a land parcel of approximately 15 acres and invest Rs 230 crore.

REC: The company approved a Rs 1.6 lakh crore market borrowing plan for FY25 through different instruments.

Zydus Lifesciences: The USFDA conducted an inspection at the SEZ Onco Injectable
Manufacturing Plant in Ahmedabad, which closed with four observations.

Cyient: The company announced a strategic partnership with Deutsche Aircraft, a German original equipment manufacturer, on the detailed design for manufacturing of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.

SRF: The company has given Rs 190 crore in corporate guarantees on behalf of its wholly owned subsidiary, SRF Industries (Thailand).

Himatsingka: The company has made further investment of Rs 16.64 crore in unit Himatsingka
Holdings NA Inc.

Exide Industries: The company invested Rs 34.99 crore in subsidiary Exide Energy Solutions on a rights basis. With this investment, the total investment stands at Rs 2,000 crore.

Shiva Cement: The board approved the issuance of shares worth Rs 400 crore by way of a rights
issue.

Blue Dart: The company introduced a 20-hour delivery service to GIFT City from major metros through a fleet of eight Boeing aircraft.

Zaggle Prepaid Ocean Services: The company will acquire a 45% stake in Span Across IT
Solutions for Rs 24.75 crore to enter a new segment of employee-related business.

Info Edge: The company has agreed to invest Rs 30 crore in Naukri Internet Services.
Aditya Birla Capital: The company has invested Rs 18 crore in Aditya Birla Capital Digital.

Axis Bank: revises lounge access rules for select debit cards, changes effective from May 1

Maruti Suzuki: shuffles senior management; Partho Banerjee to head marketing & sales

Alkem Lab: US FDA issues form 483 with 10 observations for company’s mfg facility at Baddi
Alert: US FDA inspected company’s Baddi Mfg facility from March 19-27, 2024