Let's catch up on the latest news from the stock market. From significant investments to major deals, appointments, and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks to Watch
The company has signed a technical assistance and license agreement for cast wheel production with Kyushu Yanagawa Seiki Co., Japan (KYSK) for manufacturing high-pressure die-casted alloy wheels for two-wheelers.
The GST authorities initiated a search at three offices of RBL Bank in Maharashtra. The proceedings are ongoing, and the bank is cooperating fully in providing data as per the request made. Additionally, the bank has appointed Narendra Agrawal as President & Head of Branch Banking and Retail Liabilities business, and T.S. Pari as Chief Operations Officer.
The company has received the Certificate of Incorporation for its subsidiary in Sri Lanka, namely CEAT OHT Lanka (Private) Limited.
The Board has appointed Swaminathan Swaminathan as Managing Director and Chief Executive Officer of the company for 3 years, effective March 4. This was after Nachiket Vibhakar Sukhtankar resigned from the position of Managing Director and Chief Executive Officer of the company, effective March 3.
Sourav Kumar Dutta has resigned as Chief Technology Officer of the bank, effective March 3.
Dipanshi Lunagariya has resigned as Chief Financial Officer of the company, effective March 3.
The company, on March 3, cancelled the agreement with TCM (formerly known as Travancore Chemical & Manufacturing Co.) for the development of a land parcel in Thrikkakara, Kochi. The company had entered into the agreement on February 15, 2008. There is no material impact of the cancellation of the agreement on the financials, operations, or other activities of the company.
The Board will meet on March 7 to consider the proposal for a revision in the market borrowing program of the company for the financial year 2024-25.
The electricity traded volume in February increased by 9% YoY to 9,622 million units (MU). The market clearing price in the Day Ahead Market (DAM) at Rs 4.38 per unit in February declined by 11% YoY. The Day-Ahead Market (DAM) volume grew by 14% YoY to 5,369 MU, and the real-time electricity market (RTM) volume rose by 23% YoY to 2,887 MU.
Amazon India is considering shutting down its refurbished product category across all product lines in India, effective at the end of March 2025. Given Newjaisa's presence on the Amazon marketplace, this development, if implemented, is expected to have an impact on its business in the short term. Additionally, Newjaisa has successfully partnered with one of the largest retailers in South India, which operates more than 400 outlets across the region.
The Board has appointed Mukhaddas as Chief Technology Officer of the company, effective March 4.
The company announced the superannuation of Rajeev Gandotra, CEO of the Lighting and Acoustics Domain (LAS)-2, and the elevation of Vivek Jindal as the CEO for the consolidated LAS Domain. Additionally, to strengthen technological leadership in advanced lighting solutions, Uno Minda has established a new R&D and engineering center in the Czech Republic.
The company has incorporated its wholly owned subsidiary, Eximius Buildcon (EBPL). The Ministry of Corporate Affairs has issued a Certificate of Incorporation for the same.
The Board has approved a proposal for incorporating a wholly owned subsidiary in Germany to further its business prospects in Europe.
Central 1 Credit Union (Central 1) and Intellect Design Arena Inc., Canada (Intellect), announced the completion of all necessary closing activities for the operating partnership agreement in which Intellect will assume responsibility for Central 1’s digital banking operations. Central 1 has concluded the transfer of digital banking operations for over 170 credit unions and banks to Intellect Canada.
Bulk Deals
Malabar India Fund acquired a 1.14% stake in the company at an average price of Rs 3,707 per share, valued at Rs 20.01 crore. However, Kiftar In LLC sold a 0.89% stake at the same price, amounting to Rs 15.66 crore.
EBISU Global Opportunities Fund bought 45.21 lakh shares in the company at an average price of Rs 53 per share from MGC Fund. Further, Unico Global Opportunities Fund acquired 45.77 lakh shares in the company at the same price from Elara India Opportunities Fund.
SME Listing on March 4
Nukleus Office Solutions
Stocks Trade Ex-Date for Resolution Plan -Suspension
Alka India
PAE
Stocks Trade Ex-Date for Split
Coastal Corporation
Mangalam Global Enterprise
Stock Trades Ex-Income Distribution (InvIT)
Capital Infra Trust
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