Let's catch up on the latest news from the stock market. From significant investments to major deals and order wins to US FDA inspections, here's a quick look at which stocks will be in focus in today's trade.
Stocks To Watch
Oil and Natural Gas Corporation
ONGC has started production from its fifth oil well in the KG-DWN-98/2 Cluster-2 asset. Alongside this, the company has successfully commissioned its gas export line from the offshore site to the onshore terminal. Earlier in January, oil production commenced from the same asset, with 4 out of 13 wells already flowing. Gas production is also progressing, with 3 out of 7 wells currently online.
Transport Corporation of India
The company has received approval from the Board of Directors for the buyback of up to 13,33,333 equity shares (1.72% of paid-up equity) for a total of Rs 159 crore at a price of Rs 1,200 per share. September 4 has been fixed as the record date for determining the names of equity shareholders eligible for the buyback.
The company has received approval from the US Food and Drug Administration (US FDA) for its Abbreviated New Drug Application (ANDA) for Betamethasone Valerate foam, 0.12%. The ANDA is therapeutically equivalent to the reference listed drug product (RLD), Luxiq foam, 0.12%, from Norvium Bioscience, LLC. Betamethasone Valerate foam is used to treat scalp skin conditions.
The company has emerged as the lowest bidder for a project worth Rs 478 crore from the Mumbai Metropolitan Region Development Authority (MMRDA). The project involves the design and construction of an elevated road from Kalyan-Murbad Road to Badlapur Road to Pune Link Road, parallel to the Waldhuni River, crossing over the Karjat-Kasara railway line, including a slip road.
Zydus' subsidiary and Perfect Day Inc., a Temasek portfolio company, have signed an agreement where Perfect Day will sell its 50% shareholding in Sterling Biotech. Following this transaction, Sterling Biotech will become a 50:50 joint venture with equal board representation. The joint venture will establish a manufacturing facility to produce fermented animal-free protein for global markets.
The Reserve Bank of India has approved SBI Mutual Fund's proposal to acquire a 9.99% stake in Karur Vysya Bank, according to reports from CNBC-TV18. SBI MF must acquire the 9.99% stake in the bank within one year from the date of the RBI's letter.
The US Food and Drug Administration (US FDA) has issued Form 483 with three observations for the company's formulations manufacturing facility in Srikakulam, Andhra Pradesh. The inspection of the facility was conducted from August 19 to August 23, 2024.
The National Stock Exchange has announced a reorganization of its Nifty equity indices. Bharat Electronics and Trent will be included in the Nifty 50, effective September 30, while Divi's Laboratories and LTIMintree will be excluded from the index.
Tokai Rika Minda India, a joint venture between Tokai Rika Co., Japan, and Uno Minda, has announced the opening of a new manufacturing plant at Neemrana, RIICO Industrial Area, Rajasthan. The plant has an annual production capacity of 3,84,022 units per month and will manufacture smart keys, shift levers (shift by wire), seat belts, and other products.
The company's subsidiary, JSW Neo Energy, has received a Letter of Award for setting up a 250 MW grid-connected wind power project from Adani Electricity Mumbai.
The Directorate of Enforcement (ED) conducted searches at the premises of Executive Chairperson Rashmi Saluja, Group CFO Nitin Agarwal, Group General Counsel Nishant Singhal of Religare Enterprises, and the subsidiary Religare Finvest's Chief Operating Officer Chirag Jain on August 21. The Panchnama indicated that no incriminating documents or digital devices were found or seized during the search. However, the ED has frozen the ESOP shares of the company's health insurance subsidiary, Care Health Insurance, held by Rashmi Saluja, Nitin Aggarwal, and Nishant Singhal.
The company has incorporated a wholly-owned subsidiary, Cyient Semiconductors.
The company has received an income tax refund of Rs 202.55 crore, comprising a tax refund of Rs 189.25 crore and interest of Rs 13.30 crore, for the Assessment Year 2023-24.
The company has signed a License Agreement for its new hotel property under its upscale brand, Aurika Hotels & Resorts, in Surat, Gujarat. The property will be operated by the subsidiary Carnation Hotels and is expected to open in FY30. This hotel will feature 175 aesthetically designed rooms and suites.
The RPG Group company has secured new orders worth Rs 1,079 crore in the transmission & distribution (T&D) and cables businesses. The T&D business has secured orders for T&D projects in India, the Middle East, and the Americas.
The US Food and Drug Administration has completed an inspection of the company's manufacturing facility in Baddi, Himachal Pradesh, with zero Form 483 observations. The facility is dedicated to manufacturing Cephalosporin oral dosage forms.
Bharat Dynamics and Cochin Shipyard
Global index provider FTSE has announced changes to the FTSE All Cap & All World Indices in its Semi-Annual Index Review. A total of 13 stocks, including Bank of Maharashtra, Bharat Dynamics, Central Bank Of India, Cochin Shipyard, Endurance Technologies, Escorts Kubota, GE T&D India, Hitachi Energy India, Housing & Urban Development Corporation, IRB Infrastructure Developers, KEI Industries, Lloyds Metals and Energy, and Motilal Oswal Financial Services, will be added to the FTSE All World Index, effective September 23. Additionally, FTSE also announced 48 additions to the FTSE All Cap Index, according to reports from CNBC-TV18.
Bulk Deals
GQG Partners Emerging Markets Equity Fund bought a 0.69% stake in the Adani Group's cement company at an average price of Rs 625.5 per share. However, promoter Holderind Investments sold a 2.76% stake at the same price. Meanwhile, as per block deals, a total of 24 investors, including GQG Partners, Tata Mutual Fund, Axis Mutual Fund, Ghisallo Master Fund LP, ICICI Prudential Life Insurance Company, Mirae Asset Mutual Fund, Morgan Stanley Asia Singapore Pte, National Pension System (NPS) Trust, Norges Bank, SBI Life Insurance Company, and Tara Emerging Asia Liquid Fund, bought a 2.76% stake in Ambuja Cements.
Ace investor Ramesh Shrichand Damani bought a 0.59% stake in the skills and talent development company at an average price of Rs 127.55 per share.
FSN E-Commerce Ventures (Nykaa)
Pre-IPO investor Harinderpal Singh Banga sold a 1.43% stake in the company at an average price of Rs 208.3 per share.
Foreign company Alpha TC Holdings Pte sold a 2.44% stake in the company at an average price of Rs 1,013.91 per share.
Foreign portfolio investor India 2020 Fund II sold a 1.15% stake in the retail company at an average price of Rs 1,061.4 per share. However, Motilal Oswal Mutual Fund, through its Motilal Oswal Small Cap Fund, bought 1.18% shares at an average price of Rs 1,062.35 per share.
Legends Global Opportunities (Singapore) Pte bought a 1.52% stake in the company at an average price of Rs 885.11 per share. However, foreign portfolio investor New Leaina Investments sold 0.78% shares at an average price of Rs 906.84 per share.
Legends Global Opportunities (Singapore) Pte bought a 1.09% stake in the company at an average price of Rs 1,500 per share. Nomura Singapore was the seller.
Craft Emerging Market Fund PCC's Citadel Capital Fund, and Elite Capital Fund bought a 1.2% stake in the company at an average price of Rs 800 per share.
Mainboard Listing on August 26
Interarch Building Products
SME Listing on August 26
Forcas Studio, Brace Port Logistics
Stocks Turn Ex-Dividend
Manappuram Finance, Dhruv Consultancy Services, Welcast Steels
Stock Trades Ex-Date for Buyback
VLS Finance
Stock Trades Ex-Date for Rights
Modern Engineering And Projects
F&O Ban
Balrampur Chini Mills, Aarti Industries, Aditya Birla Fashion and Retail, Birlasoft, Chambal Fertilisers and Chemicals, GNFC, Granules India, Hindustan Copper, Indian Energe Exchange, India Cements, NALCO, RBL Bank, Sun TV Network
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