STOCKS IN ACTION 12 JANUARY

Polycab India: The company denied receiving communication from the Income Tax department regarding the outcome of the search, a day after authorities alleged detection of unaccounted cash sales of Rs 1,000 crore and non-genuine expenses.

Infosys: The company will acquire semiconductor design services provider, InSemi for Rs 280
crore

Tata Power: The company's unit Tata Power Renewable Energy signed a memorandum of understanding with the Gujarat government to develop 10,000 MW of renewable energy power projects across multiple sites in Gujarat.

UltraTech Cement: The company acquired a 26% stake in Amplus Ages for Rs 49 crore to meet green energy needs, and optimise energy costs.

H.G Infra Engineering: won the bid for a Rs 716 crore construction order from the Central Railway.
The order involves the construction of a new 49.45-kilometer broad-gauge railway line between Dhule (Borvihir) to Nardana in Maharashtra.

Life Insurance Corp: The insurer received two tax demand orders worth of Rs 3,529 crore from Mumbai tax authorities.

Mahindra and Mahindra: The company will invest Rs 630 crore in Mahindra Electric Automobile by subscribing to a rights issue.

Vedanta: Billionaire Anil Agarwal tried to assuage concerns over the company's debt burden by posting a message on social media that the company has a comfortable financial situation and has never defaulted on payments.

Container Corp: The company reported total volumes at 11.5 lakh TEU, up 6% YoY, and export-import volumes at 9.02 lakh TEU, up 8.3% YoY and domestic volumes at 2.48 lakh TEU, down 1.25% YoY.

Bajel Projects: The company received a letter of intent for the supply of plant and installation services for transmission lines from Tata Power for Rs 487.64 crore.

Capacite Infraprojects: The company raised Rs 200 crore via QIP, allocating 79.47 lakh shares to investors at Rs 251.65 apiece, a discount of 5% to the floor price.

Bank of Baroda: The Reserve Bank of India waived off a penalty worth Rs 5 crore.

Ugro Capital: The company reported assets under management at over Rs 8,300 crore, up 60% YoY, and gross loan origination at Rs 2,810 crore, up 50% YoY.

Strides Pharma Science: The company's unit agreed to sell a 100% stake in Eris Pharma for €200,000.

Heranba Industries: The company's unit has acquired a 2.33% stake in Mikusu India. The total holding remains at 33.83%.

HDFC Bank: The company's shareholders approved the reappointment of Sashidhar Jagdishan as managing director and chief executive officer.

TARC: The company launched a 1.7 million sq ft luxury residential project 'TARC KAILASA' with a gross development value of Rs 4,000 crore.

GHCL Textiles: The company signed a memorandum of understanding with Tamil Nadu Government to invest Rs 535 crore.

Quess Corp: The company signed a memorandum of understanding with the Department of Gujarat Technical University to contribute to the forecast, development, and identification of programs to meet the skill requirement of the state.

Sansera Engineering: The company completed the transactions on strategic investment in
MMRFIC Technology.

KPI Green Energy: The company's unit received an order for 2 MW solar power plant from Sanwariya Processors for executing a solar power project. The projects are scheduled to be completed in the financial year 2024-25.

Shalby: The company's division Shalby Academy, signed a memorandum of understanding with Kaushalya, The Skill University of the Gujarat Government, at Vibrant Gujarat Global Summit
2024.

Tata Metaliks and Tata Steel: The National Company Law Tribunal, Mumbai sanctioned the merger of Tata Metaliks with Tata Steel.

ICICI Lombard General Insurance: The company invested Rs 151 crore in Kotak Mahindra Bank.