STOCKS IN ACTION 1 AUGUST
Maruti Suzuki: The car maker approved terminating the contract manufacturing agreement with Suzuki Motor Gujarat Ltd. It exercised its option to acquire shares of Suzuki Motor Gujarat from Suzuki Motor Corporation.
South Indian Bank: The lender has agreed to raise funds via QIP, FPO, and other methods. It will raise Rs 1000 crore via QIP, FPO, Rights issues, and other methods. It has also agreed to raise an additional Rs 500 crore via debt.
State Bank of India: The lender has raised Rs 10,000 crore via an infrastructure bond issue at a coupon rate of 7.54%. The tenor of these bonds is 15 years. The proceeds of bonds will be utilised to enhance long-term resources for funding infrastructure and affordable housing.
EaseMyTrip: The company will buy 51% stakes in Guideline, Tripshope, and Dook in an all-stock deal. The consideration will be paid by issuing equity shares to the selling shareholders of the companies on a preferential basis.
Gas company stocks: These stocks are in focus after domestic natural gas prices were raised from Aug. 1, 2023, to Aug. 30, 2023. Domestic natural gas prices were raised to $7.85/mmBtu from $7.48/mmBtu. The price of gas from ONGC and OIL nomination fields will have a ceiling of $6.50/mmBtu on a gross calorific value basis.
InterGlobe Aviation: The DGCA gave approval to Air India and IndiGo to import aircraft.
Rail Vikas Nigam: The company has received a Letter of Award for Packages 16 and 17 from Madhya Pradesh Poorv Kshetra Vidyut Vitran Company. The project costs for Packages 16 and 17 are Rs 149.63 crore and Rs 182 crore, respectively. The order is scheduled to be executed within 24 months.
Oberoi Realty: The company has approved the merger of Oberoi Constructions Ltd., Oberoi Mall Ltd., and Evenstar Hotels Pvt. Ltd. with Oberoi Realty. Incline Realty Pvt. Ltd. will not be merged, as opposed to earlier, due to commercial reasons.
Larsen and Turbo: The conglomerate's unit, L&T Realty Developers Ltd., incorporated a new wholly owned subsidiary, LH Residential Housing Ltd. The authorised capital for the new subsidiary stands at Rs 10 lakh. The company has incorporated LH Residential Housing for the development of real estate and infrastructural facilities.
SRF: The board has approved a project to setup a new and dedicated facility to produce advanced intermediates for Agrochemicals at Dahej, Gujarat. The project will be commissioned and capitalised at an aggregate cost of around Rs 256 crore.
PG Electroplast: The company has acquired 5,000 equity shares of Rs 10 each from Goodworth Electronics Private Ltd., a joint venture company between PG Electroplast and Jaina Marketing & Associates. Both parties now hold 50–50% stakes in the joint venture Company.
LIC Housing Finance: Managing Director and Chief Executive Office Y Viswanatha Gowd has resigned with effect from July 31.
Coromandel International: The company's subsidiary, Coromandel Technology, has acquired 32.68% of the equity stake in Dhaksha Unmanned Systems, taking its total stake in the company to 51.02%.
Prism Johnson: The company has acquired 1.38 crore equity shares of Raheja QBE General Insurance Company on a rights basis, aggregating to Rs 20.41 crore.
Nestle India's Suresh Narayanan says launched 10 new products in the first half of 2023
Lupin announces voluntary recall of two lots of the pregnancy prevention drug Tydemy (drospirenone, ethinyl estradiol and levomefolate calcium tablets 3mg/0.03mg/0.451mg and levomefolate calcium tablets 0.451mg) in the US
UCO Bank sets sights on strengthening low-cost deposit accounts, NIM targets
VST Industries: The company opted to settle its West Bengal entry tax dispute by paying 57.5 million rupees, which is 50% of the disputed tax amount.
GAIL: The company expects to tie-up 7-8 million tons of new LNG term supplies by 2030. They are also mulling monetizing city gas assets. The company mentioned that the current FY capex is likely to be 90-100 billion rupees.
@DAYTRADERTELUGU
Maruti Suzuki: The car maker approved terminating the contract manufacturing agreement with Suzuki Motor Gujarat Ltd. It exercised its option to acquire shares of Suzuki Motor Gujarat from Suzuki Motor Corporation.
South Indian Bank: The lender has agreed to raise funds via QIP, FPO, and other methods. It will raise Rs 1000 crore via QIP, FPO, Rights issues, and other methods. It has also agreed to raise an additional Rs 500 crore via debt.
State Bank of India: The lender has raised Rs 10,000 crore via an infrastructure bond issue at a coupon rate of 7.54%. The tenor of these bonds is 15 years. The proceeds of bonds will be utilised to enhance long-term resources for funding infrastructure and affordable housing.
EaseMyTrip: The company will buy 51% stakes in Guideline, Tripshope, and Dook in an all-stock deal. The consideration will be paid by issuing equity shares to the selling shareholders of the companies on a preferential basis.
Gas company stocks: These stocks are in focus after domestic natural gas prices were raised from Aug. 1, 2023, to Aug. 30, 2023. Domestic natural gas prices were raised to $7.85/mmBtu from $7.48/mmBtu. The price of gas from ONGC and OIL nomination fields will have a ceiling of $6.50/mmBtu on a gross calorific value basis.
InterGlobe Aviation: The DGCA gave approval to Air India and IndiGo to import aircraft.
Rail Vikas Nigam: The company has received a Letter of Award for Packages 16 and 17 from Madhya Pradesh Poorv Kshetra Vidyut Vitran Company. The project costs for Packages 16 and 17 are Rs 149.63 crore and Rs 182 crore, respectively. The order is scheduled to be executed within 24 months.
Oberoi Realty: The company has approved the merger of Oberoi Constructions Ltd., Oberoi Mall Ltd., and Evenstar Hotels Pvt. Ltd. with Oberoi Realty. Incline Realty Pvt. Ltd. will not be merged, as opposed to earlier, due to commercial reasons.
Larsen and Turbo: The conglomerate's unit, L&T Realty Developers Ltd., incorporated a new wholly owned subsidiary, LH Residential Housing Ltd. The authorised capital for the new subsidiary stands at Rs 10 lakh. The company has incorporated LH Residential Housing for the development of real estate and infrastructural facilities.
SRF: The board has approved a project to setup a new and dedicated facility to produce advanced intermediates for Agrochemicals at Dahej, Gujarat. The project will be commissioned and capitalised at an aggregate cost of around Rs 256 crore.
PG Electroplast: The company has acquired 5,000 equity shares of Rs 10 each from Goodworth Electronics Private Ltd., a joint venture company between PG Electroplast and Jaina Marketing & Associates. Both parties now hold 50–50% stakes in the joint venture Company.
LIC Housing Finance: Managing Director and Chief Executive Office Y Viswanatha Gowd has resigned with effect from July 31.
Coromandel International: The company's subsidiary, Coromandel Technology, has acquired 32.68% of the equity stake in Dhaksha Unmanned Systems, taking its total stake in the company to 51.02%.
Prism Johnson: The company has acquired 1.38 crore equity shares of Raheja QBE General Insurance Company on a rights basis, aggregating to Rs 20.41 crore.
Nestle India's Suresh Narayanan says launched 10 new products in the first half of 2023
Lupin announces voluntary recall of two lots of the pregnancy prevention drug Tydemy (drospirenone, ethinyl estradiol and levomefolate calcium tablets 3mg/0.03mg/0.451mg and levomefolate calcium tablets 0.451mg) in the US
UCO Bank sets sights on strengthening low-cost deposit accounts, NIM targets
VST Industries: The company opted to settle its West Bengal entry tax dispute by paying 57.5 million rupees, which is 50% of the disputed tax amount.
GAIL: The company expects to tie-up 7-8 million tons of new LNG term supplies by 2030. They are also mulling monetizing city gas assets. The company mentioned that the current FY capex is likely to be 90-100 billion rupees.
@DAYTRADERTELUGU
