STOCKS IN ACTION 26 SEPTEMBER
Reliance Industries: The company has issued a postal ballot notice to seek shareholders' approval to appoint Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors. The voting will be held between Sept. 27 and Oct. 26.
Tata Steel: Moody's raised the steelmaker's long-term rating to Baa3 from Ba1 and outlook to stable from positive. It said the upgrade reflects expectations of continued strength in the company's credit profile and considerable deleveraging through gross debt reduction. The rating agency expects Tata Steel to maintain conservative financial policies with well-balanced capital allocation and financ
Mahindra & Mahindra: Canada's Ontario will buy a 20% stake in company unit Mahindra Teqo for Rs 35 crore. The stake sale will be completed by Jan. 3, 2024.
Wipro: The company sold a 14.02-acre land parcel and building in Chennai to Casagrand Bizpark for Rs 266.38 crore
HDFC AMC: The company will invest Rs 25 crore in unit HDFC AMC International to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.
Mankind Pharma: Commercial operations commenced at the newly set-up pharmaceutical formulations plant in Udaipur, Rajasthan.
Indian Hotels: The company will invest $11.5 as equity in Dutch subsidiary Ihoco BV to help it repay debt and for other operations.
Fortis Healthcare: The company will acquire a 99.9% stake in Artistery Properties Pvt. for Rs 32 crore.
Welspun Corp: Unit Sintex will set up water tanks and PVC pipe facilities in Telangana with up to a Rs 350 crore investment.
Century Textiles: Unit Birla Estates has successfully launched Phase 1 of Birla Trimaya in Bengaluru's Devanahalli. The project is expected to have a revenue potential of Rs 3000 crore.
Kalpataru Projects International: The company will raise Rs 150 crore via NCDs through private placement
Ujjivan Small Finance Bank: The bank has partnered with SMC Global Securities to offer 3-in-1 accounts (savings, demat, and trading) to its customers.
Sheela Foam: The company plans to raise up to Rs 1,200 crore via QIP. It will allocate 1.11 crore shares at Rs 1,078 apiece.
GR Infraprojects: The bids for two projects worth Rs 3,613 crore won by the company in February are annulled
Strides Pharma: The board approved spinning off the oral soft gelatin contract manufacturing business into Stelis Biopharma. The new entity will be called OneSource. Shareholders will get one share of OneSource with a face value of Rs 1 apiece for every two shares of face value Rs 10 each held in Strides Pharma.
DB Realty: The company will acquire shares in Bamboo Hotel Global Centre, Goan Hotels & Realty, and BD And P Hotels for more than Rs 2,300 crore, with the intent to enter the hospitality business.
Highways Infrastructure Trust: The board has approved rights issues of Rs 514 crore at Rs 77.96 apiece, which will be open from Oct. 9 to 11.
Ind-Swift Laboratories: The board approved the merger of Ind-Swift with itself to consolidate businesses and strengthen its competitive position. It will give 100 shares for every 655 shares held in Ind-Swift after the merger.
Greenply Industries: The company's operations resumed at the Gabon, West Africa, facility after a protest by the local workforce. Discussion between authorities and labour agencies is ongoing to resolve the issues completely.
Vishnu Prakash R Punglia: The company reported a 49.44% rise in revenue year-on-year at Rs 278.17 crore. Net profit was up 52.55% to Rs 16.43 crore.
Salasar Techno: The company commissioned its zinc galvanization plant with an annual capacity of 96,000 metric tonnes in UP.
RPP Infra Project: The company bagged orders of over Rs 470 crore in Tamil Nadu and Karnataka.
KM Sugar Mills: LK Jhunjhunwala reappointed chairman
Aditya Jhunjhunwala reappointed Managing Director
Sanjay Jhunjhunwala reappointed Joint Managing Director
SC Agarwal reappointed Executive Director
Reappointments approved in the AGM
@DAYTRADERTELUGU
Reliance Industries: The company has issued a postal ballot notice to seek shareholders' approval to appoint Isha Ambani, Anant Ambani, and Akash Ambani as non-executive directors. The voting will be held between Sept. 27 and Oct. 26.
Tata Steel: Moody's raised the steelmaker's long-term rating to Baa3 from Ba1 and outlook to stable from positive. It said the upgrade reflects expectations of continued strength in the company's credit profile and considerable deleveraging through gross debt reduction. The rating agency expects Tata Steel to maintain conservative financial policies with well-balanced capital allocation and financ
Mahindra & Mahindra: Canada's Ontario will buy a 20% stake in company unit Mahindra Teqo for Rs 35 crore. The stake sale will be completed by Jan. 3, 2024.
Wipro: The company sold a 14.02-acre land parcel and building in Chennai to Casagrand Bizpark for Rs 266.38 crore
HDFC AMC: The company will invest Rs 25 crore in unit HDFC AMC International to help it meet the net worth requirements prescribed for Registered Fund Management Entity (Retail) under IFSC rules.
Mankind Pharma: Commercial operations commenced at the newly set-up pharmaceutical formulations plant in Udaipur, Rajasthan.
Indian Hotels: The company will invest $11.5 as equity in Dutch subsidiary Ihoco BV to help it repay debt and for other operations.
Fortis Healthcare: The company will acquire a 99.9% stake in Artistery Properties Pvt. for Rs 32 crore.
Welspun Corp: Unit Sintex will set up water tanks and PVC pipe facilities in Telangana with up to a Rs 350 crore investment.
Century Textiles: Unit Birla Estates has successfully launched Phase 1 of Birla Trimaya in Bengaluru's Devanahalli. The project is expected to have a revenue potential of Rs 3000 crore.
Kalpataru Projects International: The company will raise Rs 150 crore via NCDs through private placement
Ujjivan Small Finance Bank: The bank has partnered with SMC Global Securities to offer 3-in-1 accounts (savings, demat, and trading) to its customers.
Sheela Foam: The company plans to raise up to Rs 1,200 crore via QIP. It will allocate 1.11 crore shares at Rs 1,078 apiece.
GR Infraprojects: The bids for two projects worth Rs 3,613 crore won by the company in February are annulled
Strides Pharma: The board approved spinning off the oral soft gelatin contract manufacturing business into Stelis Biopharma. The new entity will be called OneSource. Shareholders will get one share of OneSource with a face value of Rs 1 apiece for every two shares of face value Rs 10 each held in Strides Pharma.
DB Realty: The company will acquire shares in Bamboo Hotel Global Centre, Goan Hotels & Realty, and BD And P Hotels for more than Rs 2,300 crore, with the intent to enter the hospitality business.
Highways Infrastructure Trust: The board has approved rights issues of Rs 514 crore at Rs 77.96 apiece, which will be open from Oct. 9 to 11.
Ind-Swift Laboratories: The board approved the merger of Ind-Swift with itself to consolidate businesses and strengthen its competitive position. It will give 100 shares for every 655 shares held in Ind-Swift after the merger.
Greenply Industries: The company's operations resumed at the Gabon, West Africa, facility after a protest by the local workforce. Discussion between authorities and labour agencies is ongoing to resolve the issues completely.
Vishnu Prakash R Punglia: The company reported a 49.44% rise in revenue year-on-year at Rs 278.17 crore. Net profit was up 52.55% to Rs 16.43 crore.
Salasar Techno: The company commissioned its zinc galvanization plant with an annual capacity of 96,000 metric tonnes in UP.
RPP Infra Project: The company bagged orders of over Rs 470 crore in Tamil Nadu and Karnataka.
KM Sugar Mills: LK Jhunjhunwala reappointed chairman
Aditya Jhunjhunwala reappointed Managing Director
Sanjay Jhunjhunwala reappointed Joint Managing Director
SC Agarwal reappointed Executive Director
Reappointments approved in the AGM
@DAYTRADERTELUGU
