Let's catch up on the latest news from the stock market. From significant investments to major deals, order wins, and fundraising activities, here’s a quick look at which stocks will be in focus in today's trade:
Quarterly Earnings on August 28
Procter & Gamble Hygiene & Health Care, HMA Agro Industries, Aelea Commodities, and Toyam Sports will announce their quarterly earnings on August 28.
Stocks To Watch
Subsidiary Jio Leasing Services has invested Rs 67.50 crore by subscribing to 6.75 lakh, 8.1% cumulative optionally convertible preference shares of Rs 10 each in Reliance International Leasing IFSC (RILIL). RILIL is a 50:50 joint venture between Jio Leasing Services and Reliance Strategic Business Ventures (a wholly owned subsidiary of Reliance Industries). The investment is made to fund the business operations of RILIL. Additionally, Jio Financial increased its shareholding in Jio Payments Bank from 78.95% to 82.17% by subscribing to 6.8 crore equity shares of Rs 10 each in Jio Payments Bank for Rs 68 crore for its business purposes.
Subsidiary UPL Corporation, through its step-down subsidiary UPL Global, acquired a 20% stake in PT Excel Meg Indo, Indonesia, for $6.85 million. Post-acquisition, UPL Global will hold 99.9998% stake in PT Excel, while another arm, UPL Europe, will hold 0.0002%.
The company has been declared the lowest bidder in a highway cum bridge project with a bid project cost of Rs 380 crore from NHAI. The project involves the construction of an additional 3-lane bridge over the river Ganga for a connection between Buxar and Bharauli on NH-922 in Uttar Pradesh and Bihar on Hybrid Annuity Mode.
The company has received a letter from the Registrar of Companies, Maharashtra. RoC has instructed the company to keep its Register of Directors and Key Managerial Personnel updated.
ICICI Prudential Life Insurance Company
The company has received an order from the Deputy Commissioner of State Tax, Maharashtra State, demanding GST, interest, and penalty of Rs 429.05 crore for FY20.
The pharma company has received final approval from the United States Food and Drug Administration (USFDA) to market Amantadine extended-release capsules, 68.5 mg, and tentative approval for 137 mg. Amantadine extended-release capsules are used for the treatment of dyskinesia in patients with Parkinson’s disease. This approval makes Zydus eligible for 180 days of exclusivity for Amantadine extended-release capsules, 68.5 mg.
SBI Cards and Payment Services
Dinesh Khara, Chairman and Non-executive Director, has resigned from the directorship of the company, effective August 27.
The Board of Directors of the company will meet on August 31 to consider the issue of bonus shares to the equity shareholders of the company.
The company has invested Rs 300 crore on a rights basis in its subsidiary Aditya Birla Housing Finance.
The technology services and consulting company has expanded its collaboration with Dell Technologies to bring the Dell AI Factory to Wipro’s Enterprise AI-Ready platform. The collaboration will allow enhanced cost control and risk mitigation while providing enterprises with access to best-in-class technology, accelerating the adoption of AI across cloud, data center, and edge environments.
The company has incorporated its wholly owned subsidiary IIL Digital to set up a digital marketplace that offers business solutions for a diverse range of customer needs.
The telecom operator said its Board of Directors approved the formulation, adoption, and implementation of Employee Stock Option and Performance Stock Unit Scheme 2024. This scheme contemplates the grant of up to 34.85 crore Stock Options and Performance Stock Units, constituting 0.50% of the issued share capital of the company as of July 31, to eligible employees, subsidiaries, and associate companies. This is subject to shareholder approval.
Gensol Engineering announced its entry into the US market with the launch of its Delaware-based subsidiary, Scorpius Trackers Inc., targeting 2,000 MW of annual supply by 2028.
The company has completed its acquisition of an additional 49% stake in its subsidiary Godrej Tyson Foods (GTFL) from Tyson India Holdings (the existing equity shareholder). With this acquisition, the company increased its total shareholding in GTFL from 51% to 100%, making GTFL a wholly-owned subsidiary of the company.
The flexible workspace solutions company has partnered with Nyati Group for an additional 3 lakh square feet of Grade-A workspace. This alliance is the largest under the Managed Aggregation (MA) model, enhancing the company's current MA model portfolio and expanding its presence in Pune.
Subsidiary Carysil UK has agreed to acquire the remaining 30% stake in UK-based Carysil Brassware for £350,000. In April 2023, Carysil UK had acquired a 70% stake in Carysil Brassware for £1.16 million. With this acquisition, Carysil Brassware will become a 100% wholly-owned subsidiary of Carysil UK.
The company said its Board of Directors approved the issuance of 48 lakh fully convertible warrants for cash at an issue price of Rs 335 per warrant, amounting to Rs 160.8 crore.
Artificial intelligence subsidiary Phronetic.AI launched a new women's safety feature in its AI Facility Manager solution for CCTVs.
Bulk Deals
Foreign portfolio investor Amansa Holdings sold a 2.2% stake in the housing finance company at an average price of Rs 1,690 per share. However, Nippon India Mutual Fund A/C - Nippon India Multi Cap Fund bought a 1.26% stake in the company at the same price.
Investors Franklin Templeton Mutual Fund, India Acorn ICAV, SBI Mutual Fund, and Kotak Mahindra Mutual Fund bought a 2.97% stake in the company. However, investor ICICI Prudential Mutual Fund, and promoters Ashok Kumar Dayashankar Madeka and Sanjaykumar Bhagvanji Bole sold a 2.81% stake.
Ghisallo Master Fund LP and Copthall Mauritius Investment bought a 1.76% stake in Tata Technologies at an average price of Rs 1,013 per share. However, TPG Rise Climate SF Pte sold a 2.99% stake in the company at an average price of Rs 1,014.16 per share.
Mainboard Listing on August 28
Orient Technologies
SME Listing on August 28
Ideal Technoplast Industries, QVC Exports
Stocks Turn Ex-Dividend
Asahi India Glass, Axita Cotton, Bajaj Steel Industries, DMCC Speciality Chemicals, Force Motors, GE T&D India, Hazoor Multi Projects, Hindustan Zinc, International Combustion, Sigachi Industries, Yuken India
Stock Trades Ex-Date for Consolidation of shares
Shekhawati Industries
Stock Trades Ex-Date for Rights
Vardhman Polytex
F&O Ban
Hindustan Copper, Balrampur Chini Mills, Birlasoft, India Cements
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