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Contact: Daytradertelugu@gmail.com
RBL Bank: The RBI imposes a monetary penalty of Rs 64 lakh for non-compliance related to prior approval for the acquisition of shares.
Shipping Corporation of India: The Maharashtra government remits the entire stamp duty chargeable for various items.
Intellect Design Arena: The company partners with Premiere Bank, Philippines, for bank-wide digital transformation in APAC. The partnership includes Intellect's iKredit360 loan origination system, with the aim of improving the bank's customer experience.
@daytradertelugu
Shipping Corporation of India: The Maharashtra government remits the entire stamp duty chargeable for various items.
Intellect Design Arena: The company partners with Premiere Bank, Philippines, for bank-wide digital transformation in APAC. The partnership includes Intellect's iKredit360 loan origination system, with the aim of improving the bank's customer experience.
@daytradertelugu
STOCKS IN ACTION 16 October
Adani Enterprises: The Office of Regional Director-Southeast Region, Hyderabad, Ministry of Corporate Affairs, initiates investigation into accounts of Mumbai International Airport and Navi Mumbai International Airport. The documents sought pertain to the period from FY18 to FY22, prior to their acquisition by the company.
Tata Motors: The company will sell a 9% stake in Tata Technologies to TPG Rise Climate for Rs 1,467 crore and another 0.9% stake in TTL to Ratan Tata Endowment Foundation for Rs 146.7 crore.
Mahindra & Mahindra: September sales rose 18.14% year on year to 73,185 units, while production increased by 21.88% to 79,410 units. The Income Tax Department has filed an appeal in Bombay High Court against relief previously granted to the company over a Rs 432 crore tax dispute.
Laurus Labs: Associate ImmunoACT received marketing authorization approval for India’s first CAR-T cell therapy, NexCAR19, for cancer treatment therapy from the Central Drugs Standard Control Organisation.
NHPC: The company expects Rs 788 crore worth of damages due to flash floods impacting its 510 MW Teesta-V Power Station in Sikkim. The damages are fully insured, and the company said it will lodge a formal claim for the damages.
L&T Finance Holdings: NCLT has approved the amalgamation of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with L&T Finance Holdings on Oct. 13.
Infosys: The New York State Taxation Department has imposed a penalty of $15,076 for underpayment of advance tax in FY22.
Bajaj Electricals: The company bagged a service contract worth Rs 564 crore from Power Grid Corp. for 400 kV transmission lines in Andhra Pradesh. The project is to be completed in 21 months.
HDFC Life: Board approves re-classification of Abrdn (Mauritius Holdings) 2006 from 'Promoter' to 'Public' category. HDFC Bank will be the sole promoter post-reclassification.
Mankind Pharma: The company has resumed operation at the Sikkim facility as of Oct. 13. It has reported no damage to property due to flash floods when the facility's operations were disrupted.
Federal Bank: International Finance Corp. acquires an additional 7.26 crore shares (3% stake) via preferential issue, increasing its stake to 7.32%.
Gati: Total volume in Q2 volume rose 18% year-on-year to 333,000 metric tonnes on account of strong pre-festive ordering. Also, the company's Bengaluru transshipment hub is now online.
NBCC India: The company has received an order worth Rs 80 crore for the renovation of office buildings from the Visakhapatnam Port Authority.
ICICI Lombard: The company receives favourable orders from Jaipur's Tax Authority, squashing a penalty of Rs 7.7 crore for FY18, FY19 and FY20.
Bajaj Healthcare: The company has completed the construction of an alkaloid extraction plant at Vadodara, Gujarat. The plant has a capacity for the extraction of 2500 metric tonnes of poppy straw and 300 metric tonnes of poppy gum per year.
KIOCL: The company resumes operations at the Mangalore Pellet Plant, where operations were suspended on Sept. 28 due to the non-availability of iron-ore fines and maintenance activities.
Pidilitte: Subsidiary Pidilite Ventures invests Rs 20 crore in Imagimake, a company into the design and distribution of innovative ranges of educational toys.
Transformers and Rectifiers: Amarendra Kumar Gupta resigns as CFO w.e.f. Oct. 14, citing personal reasons.
NLC India: The company incorporates a wholly owned subsidiary, NLC India Green Energy, to undertake future renewable energy projects.
Indian Bank: The bank has reported loans worth Rs 24.8 crore as fraud.
J. Kumar Infraprojects, NCC: A SPV, J. Kumar, NCC Pvt., is incorporated for the GMLR twin tunnel project awarded by BMC. NCC to hold a 51% stake and J. Kumar to hold the remaining 49% shares in the company.
Union Bank of India: RBI imposes a monetary penalty of Rs 1 crore for non-compliance related to loans and advances, statutory and other restrictions.
Adani Enterprises: The Office of Regional Director-Southeast Region, Hyderabad, Ministry of Corporate Affairs, initiates investigation into accounts of Mumbai International Airport and Navi Mumbai International Airport. The documents sought pertain to the period from FY18 to FY22, prior to their acquisition by the company.
Tata Motors: The company will sell a 9% stake in Tata Technologies to TPG Rise Climate for Rs 1,467 crore and another 0.9% stake in TTL to Ratan Tata Endowment Foundation for Rs 146.7 crore.
Mahindra & Mahindra: September sales rose 18.14% year on year to 73,185 units, while production increased by 21.88% to 79,410 units. The Income Tax Department has filed an appeal in Bombay High Court against relief previously granted to the company over a Rs 432 crore tax dispute.
Laurus Labs: Associate ImmunoACT received marketing authorization approval for India’s first CAR-T cell therapy, NexCAR19, for cancer treatment therapy from the Central Drugs Standard Control Organisation.
NHPC: The company expects Rs 788 crore worth of damages due to flash floods impacting its 510 MW Teesta-V Power Station in Sikkim. The damages are fully insured, and the company said it will lodge a formal claim for the damages.
L&T Finance Holdings: NCLT has approved the amalgamation of L&T Finance, L&T Infra Credit, and L&T Mutual Fund Trustee with L&T Finance Holdings on Oct. 13.
Infosys: The New York State Taxation Department has imposed a penalty of $15,076 for underpayment of advance tax in FY22.
Bajaj Electricals: The company bagged a service contract worth Rs 564 crore from Power Grid Corp. for 400 kV transmission lines in Andhra Pradesh. The project is to be completed in 21 months.
HDFC Life: Board approves re-classification of Abrdn (Mauritius Holdings) 2006 from 'Promoter' to 'Public' category. HDFC Bank will be the sole promoter post-reclassification.
Mankind Pharma: The company has resumed operation at the Sikkim facility as of Oct. 13. It has reported no damage to property due to flash floods when the facility's operations were disrupted.
Federal Bank: International Finance Corp. acquires an additional 7.26 crore shares (3% stake) via preferential issue, increasing its stake to 7.32%.
Gati: Total volume in Q2 volume rose 18% year-on-year to 333,000 metric tonnes on account of strong pre-festive ordering. Also, the company's Bengaluru transshipment hub is now online.
NBCC India: The company has received an order worth Rs 80 crore for the renovation of office buildings from the Visakhapatnam Port Authority.
ICICI Lombard: The company receives favourable orders from Jaipur's Tax Authority, squashing a penalty of Rs 7.7 crore for FY18, FY19 and FY20.
Bajaj Healthcare: The company has completed the construction of an alkaloid extraction plant at Vadodara, Gujarat. The plant has a capacity for the extraction of 2500 metric tonnes of poppy straw and 300 metric tonnes of poppy gum per year.
KIOCL: The company resumes operations at the Mangalore Pellet Plant, where operations were suspended on Sept. 28 due to the non-availability of iron-ore fines and maintenance activities.
Pidilitte: Subsidiary Pidilite Ventures invests Rs 20 crore in Imagimake, a company into the design and distribution of innovative ranges of educational toys.
Transformers and Rectifiers: Amarendra Kumar Gupta resigns as CFO w.e.f. Oct. 14, citing personal reasons.
NLC India: The company incorporates a wholly owned subsidiary, NLC India Green Energy, to undertake future renewable energy projects.
Indian Bank: The bank has reported loans worth Rs 24.8 crore as fraud.
J. Kumar Infraprojects, NCC: A SPV, J. Kumar, NCC Pvt., is incorporated for the GMLR twin tunnel project awarded by BMC. NCC to hold a 51% stake and J. Kumar to hold the remaining 49% shares in the company.
Union Bank of India: RBI imposes a monetary penalty of Rs 1 crore for non-compliance related to loans and advances, statutory and other restrictions.
