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Contact: Daytradertelugu@gmail.com
STOCKS IN ACTION 5 SEPTEMBER
Hero MotoCorp: The automaker will invest Rs 550 crore in Ather Energy Private's rights issue. The Splendor-maker, which currently holds 33.1% stake in Ather, will see its shareholding rise in the company. The transaction is expected to be completed before the end of September.
Cipla: The drugmaker's South African subsidiary entered into a binding term sheet to acquire a 100% stake in Actor Holdings (Pty), a privately owned pharmaceutical company specialising in consumer health and generic medicine. The consideration has been fixed at ZAR 900 million (approx. $48.6 million, or around Rs 400 crore) in cash for 920 equity shares, representing a 100% equity stake.
Mahindra and Mahindra: Volkswagen is in advanced discussions with the automaker on the use of central MEB components such as e-drive and unified cells.
Yes Bank: The private lender has clarified and denied any role in settlement or negotiation after the sale of the loan portfolio to JC Flowers ARC. The association of the bank with JC Flowers ARC remains limited to the extent of its current shareholding, at 9.9%.
Tata Power: The company's unit, Tata Power Renewable Energy, signed a 26 MW solar power delivery agreement with Neosym Industry, to be set at Jamkhed, Maharashtra, and generate 59 MU of power per annum.
Oil India: The state-run oil company approved a Rs 1,738 crore contribution for North East Gas Distribution Co., a joint venture in which it holds a 49% stake.
BHEL: The company bagged an order for Electro-Mechanical (E&M) works for the country’s largest capacity hydropower project, the 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh.
Bombay Dyeing: The company settled a dispute with Axis Bank over disputed land for Rs 149 crore and handed over 11,541 square metres of land to the lender. The settlement will enable independent and exclusive access to the bank's headquarters.
Gland Pharma: Ankit Gupta has been appointed as Vice-President (strategy and investments) with effect from Sept. 4.
Rail Vikas Nigam: The RVNL-MPCC JV emerged as the lowest bidder for all civil engineering works in the Varodara Division of Western Railway. The project cost is Rs 174.27 crore, and the contract is to be executed in two years. The company's share in the JV stands at 74%, while MPCC's share is 26%.
Dabur: The FMCG major's unit, Dabur International, has decided to convert its existing branch, Dabur International Dubai, into a wholly owned subsidiary under the name of Dabur International FZE.
LIC Housing Finance: The company infused Rs 21.61 crore of incremental capital in LIC Mutual Fund Asset Management Company in a rights issue.
Bectors Food and Specialties: The company appointed Arnav Jain as Chief Financial Officer.
Escorts Kubota: The company will raise tractor prices effective Sept. 16. The increase in prices will vary across models and geographies.
Dhanuka Agritech: The company launched an herbicide for sugarcane crops that has effective control of broad and narrow leaf weeds for the domestic market.
Ramco Cements: The company commissioned the balance of the 3 MW capacity of the Waste Heat Recovery System out of the 12 MW capacity in its Kolimigundla plant. With this, total operating capacity has gone up to 43 MW.
INDIAN ENERGY EXCHANGE:
Achieved 8,469 MU total electricity volume, registering an increase of 21% on YoY basis
SPICEJET: SAYS ALLOTMENT OF 48.1M EQUITY SHARES AT AN ISSUE PRICE OF 48 RUPEES EACH ON PREFERENTIAL BASIS TO AIRCRAFT LESSORS || ALLOTMENT OF SHARES UPON CONVERSION OF EXISTING OUTSTANDING DUES TO AIRCRAFT LESSORS AGGREGATING TO 2.31B RUPEES
Hero MotoCorp: The automaker will invest Rs 550 crore in Ather Energy Private's rights issue. The Splendor-maker, which currently holds 33.1% stake in Ather, will see its shareholding rise in the company. The transaction is expected to be completed before the end of September.
Cipla: The drugmaker's South African subsidiary entered into a binding term sheet to acquire a 100% stake in Actor Holdings (Pty), a privately owned pharmaceutical company specialising in consumer health and generic medicine. The consideration has been fixed at ZAR 900 million (approx. $48.6 million, or around Rs 400 crore) in cash for 920 equity shares, representing a 100% equity stake.
Mahindra and Mahindra: Volkswagen is in advanced discussions with the automaker on the use of central MEB components such as e-drive and unified cells.
Yes Bank: The private lender has clarified and denied any role in settlement or negotiation after the sale of the loan portfolio to JC Flowers ARC. The association of the bank with JC Flowers ARC remains limited to the extent of its current shareholding, at 9.9%.
Tata Power: The company's unit, Tata Power Renewable Energy, signed a 26 MW solar power delivery agreement with Neosym Industry, to be set at Jamkhed, Maharashtra, and generate 59 MU of power per annum.
Oil India: The state-run oil company approved a Rs 1,738 crore contribution for North East Gas Distribution Co., a joint venture in which it holds a 49% stake.
BHEL: The company bagged an order for Electro-Mechanical (E&M) works for the country’s largest capacity hydropower project, the 2,880 MW Dibang Multipurpose Project in Arunachal Pradesh.
Bombay Dyeing: The company settled a dispute with Axis Bank over disputed land for Rs 149 crore and handed over 11,541 square metres of land to the lender. The settlement will enable independent and exclusive access to the bank's headquarters.
Gland Pharma: Ankit Gupta has been appointed as Vice-President (strategy and investments) with effect from Sept. 4.
Rail Vikas Nigam: The RVNL-MPCC JV emerged as the lowest bidder for all civil engineering works in the Varodara Division of Western Railway. The project cost is Rs 174.27 crore, and the contract is to be executed in two years. The company's share in the JV stands at 74%, while MPCC's share is 26%.
Dabur: The FMCG major's unit, Dabur International, has decided to convert its existing branch, Dabur International Dubai, into a wholly owned subsidiary under the name of Dabur International FZE.
LIC Housing Finance: The company infused Rs 21.61 crore of incremental capital in LIC Mutual Fund Asset Management Company in a rights issue.
Bectors Food and Specialties: The company appointed Arnav Jain as Chief Financial Officer.
Escorts Kubota: The company will raise tractor prices effective Sept. 16. The increase in prices will vary across models and geographies.
Dhanuka Agritech: The company launched an herbicide for sugarcane crops that has effective control of broad and narrow leaf weeds for the domestic market.
Ramco Cements: The company commissioned the balance of the 3 MW capacity of the Waste Heat Recovery System out of the 12 MW capacity in its Kolimigundla plant. With this, total operating capacity has gone up to 43 MW.
INDIAN ENERGY EXCHANGE:
Achieved 8,469 MU total electricity volume, registering an increase of 21% on YoY basis
SPICEJET: SAYS ALLOTMENT OF 48.1M EQUITY SHARES AT AN ISSUE PRICE OF 48 RUPEES EACH ON PREFERENTIAL BASIS TO AIRCRAFT LESSORS || ALLOTMENT OF SHARES UPON CONVERSION OF EXISTING OUTSTANDING DUES TO AIRCRAFT LESSORS AGGREGATING TO 2.31B RUPEES
