STOCKS IN ACTION 18 SEPTEMBER

Indian Oil Corp:The board approved an additional investment of Rs 903.52 in JV Hindustan Urvarak and Rasayan to be used for setting up fertiliser plants in Gorakhpur, Sindri, and Barauni.

Bharat Electronics: The company bagged multiple orders worth Rs 3,000 crore. The order worth Rs 2,119 crore is from Cochin Shipyard for the supply of various equipment and other orders worth Rs 886 crore.

Tata Steel: The company and the UK government jointly agree on a proposal for the largest investment in the UK steel industry for decades.

Dhanlaxmi Bank: Independent Director Sridhar Kalyanasundaram resigned from the board citing "belligerent attitude of the MD & CEO" on various issues including rights issue, capital enhancement, whistleblower issues by the directors and unethical conduct of the bank's business.

Responsive Industries: The company confirms the order placed for the RVNL Rishikesh-Karam Prayag railway project.

Tata Elxsi: The company has partnered with INVIDI Technologies to transform addressable advertising for pay-TV operators.

Hindustan Aeronautics: The Defence Acquisition Council has approved the procurement of 12 Su-30MKI aircraft and the avionics upgrade of Dornier aircraft.

Zomato: Zomato Slovakia, a step-down subsidiary of the company, initiated the process of liquidation on Sept. 14, which is expected to be completed within 9–12 months.

Samvardhana Motherson International: Motherson Electroplating US LLC has been incorporated in Delaware, USA, as an indirect, wholly owned subsidiary of the company.

Excel Industries: The company has entered into a share subscription and shareholder agreement with First Energy and First Energy 7. The company will acquire not less than 26% of the equity share capital of First Energy 7, the SPV formed for constructing captive solar power plants. The acquisition is to be completed in five months, and the cost of the acquisition is Rs 5.24 crore.

PVR Inox: The company opened a five-screen multiplex at Himalaya Mall in the city of Ahmedabad.

Gensol Engineering: The company acquired 58,779 equity shares of Scorpius Trackers, constituting 54.38% of the share capital and voting rights in Scorpius, for Rs 135 crore. The company proposes to acquire 100% of the share capital of Scorpius in the second tranche.

Elpro International: The company completed the acquisition of 100% of the equity shares of Fortune Capital Holding for Rs 3.34 crore.

Deccan Gold Mines: The board approved the allotment of 17.70 lakh equity warrants at an issue price of Rs 53.47 per share to non-promoters, which are convertible into an equivalent number of equity shares of Rs 1 each at an issue price of Rs 53.47 per equity share within 18 months from the date of allotment.

WPIL: The company received a contract for the supply of an onboard range of centrifugal pumps and spares for different classes of ships from the Ministry of Defence (Navy) for Rs 14.3 crore. This contract for onboard centrifugal pumps will greatly strengthen WPIL's product offering to the Indian Navy, which is undergoing a major fleet expansion programme.

Brigade Enterprises: Brigade Tetrarch, a wholly owned subsidiary of the company, has entered into a sale deed for acquiring 5 acres and 35.25 guntas of land parcel located in Bangalore for a consideration of Rs 123.50 crore from Bangalore Ceramics. It will develop a residential project on this land parcel with an overall development of 1 million square feet and an overall revenue potential of Rs 800 crore.