STOCKS IN ACTION 11 JULY

Vedanta: The company said it is fully committed to semiconductor fab project. It has lined up other partners to set up a foundry. The company already has licence for production-grade technology for 40 nm from a prominent Integrated Device Manufacturer. It plans to acquire a licence for production-grade 28 nm as well.

State Bank of India: The lender will divest 2% stake or 40 lakh equity shares at

SBI Cards and Payments Services: Rama Mohan Rao resigned as managing director and chief executive officer of SBI Card & Payments Services with effect from Aug. 11. Rao resigned as he has been transferred back to State Bank of India. SBI DMD Abhijit Chakravorty nominated as MD & CEO of SBI Card & Payments.

Nazara Technologies: The board of Nazara Technologies will raise up to Rs 750 crore via equity and equity linked instruments or securities. The fundraise will be either through one or more qualified institutional placements or preferential allotment or a mix of both.

Tata Communications: The company’s unit Tata Communications International has inked a share purchase agreement to acquire remaining stake in Oasis Smart Sim Europe SAS for $12 million (Rs 99.30 crore) in cash. Tata International currently holds a 58.1% stake in Oasis. The acquisition will be concluded within one month.

Gravita India: The company expects a loss of Rs 2.50 crore at its manufacturing unit at Mundra in Gujarat due to Cyclone Biparjoy which will be covered by insurance. The company is facing a partial production loss of about 20 days which includes reworking on finished goods.

CarTrade Tech: The company has inked share purchase agreement to buy 100% stake in Sobek Auto India from its holding company, OLX India B.V., in a deal worth Rs 537 crore

Mcleod Russel India: The company will exclusively discuss, negotiate and evaluate mechanism with Carbon Resources for monetizing identified assets of the company. This is for a one-time settlement of debt owed by the company to its lenders.

Zee Entertainment: India Appeals Tribunal says SEBI order against Zee’s Chandra, Goenka issued considering urgency on diversion of funds from Zee to entities connected to them - order

Petronet LNG: Chief Exec says operating Dahej LNG terminal at 95% capacity Chief Exec says seeing pick up in local consumption of gas

Gujarat Pipavav Port: says Q1 FY 24 containers handled 199,000 TEUs vs 187,000 TEUs yr ago

Ugro Capital:says Q1 AUM increased 86% (YoY) || Co sees Q1 profit before tax basis management estimate to be in the range of 330M rupees to 360M rupees

Sanghvi Movers:says received work orders aggregating to 1.50B rupees || Order from eminent independent power producers in renewable energy sector

Satin Creditcare Network: approved raising of funds by way of issuance of non-convertible debentures up to 50B rupees || Fund raise on a private placement basis

@DAYTRADERTELUGU