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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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