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:
SpiceJet, Rain Industries, Enkei Wheels India, and Vuenow Infratech will release their earnings scorecard on February 25.
Stocks to Watch
The company said its step-down subsidiary, UPL Holdings Brazil BV, has made an additional investment of $53.85 million in Sinova Inovações Agrícolas S.A. Sinova is an associate entity of UPL Brazil. As a result, the shareholding of UPL Holdings Brazil BV in Sinova has increased from 38.96% to 49.97%.
The company has incorporated a wholly owned subsidiary, Welspun Europe S.A., in Spain, Europe.
The Board has approved the appointment of Dorababu Daparti as Deputy Chief Executive Officer of the company, effective February 24.
Oil and Natural Gas Corporation
The company will make an investment of Rs 1,200 crore in ONGC Green (OGL) via a rights offer. OGL will utilize the equity share capital proceeds from the rights offer for investments in acquiring a 100% equity stake in PTC Energy.
The company, along with its subsidiary NTPC Green Energy, has signed multiple MoUs with the Madhya Pradesh government to invest over Rs 2 lakh crore in Madhya Pradesh. The investments will include renewable projects based on solar, wind, pump hydro, and other carbon-neutral energy sources in the state.
Chola Varma Alluri has been appointed as the Chief Operating Officer and senior management personnel of the company, effective February 24.
The cement company has received a GST demand order of Rs 41.1 crore from the Deputy Commissioner, State Tax, Special Circle, Patna (Bihar), regarding valuation and excess ITC availed.
The company's subsidiary, Venwind Refex Power (VRPL), has incorporated a new company, Venwind Refex Power Services (VRPSL), as its wholly owned subsidiary. With this, VRPSL has become a step-down subsidiary of Refex Industries Limited.
The rail solutions provider has entered into a strategic Memorandum of Understanding (MoU) with the Polish technology entity Nevomo for work in high-speed rail solutions and predictive track maintenance.
The company has acquired an additional 6,51,204 equity shares (representing a 38.57% stake) in Funky Monkeys from its existing shareholders for Rs 28.7 crore. With this, the company now holds a 60% stake in Funky Monkeys, which has become a subsidiary of the company.
Life Insurance Corporation of India
The Corporation has received a demand order of Rs 57.3 crore for GST, interest, and penalty for Delhi for FY2020-21, due to excess ITC availed.
The company's subsidiary has launched the Yesintek biosimilar in the United States. This is one of the first Stelara biosimilar market entrants in the country. Yesintek is approved for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.
The company said shareholders have reappointed Rajeev Gupta as CFO & Executive Director (Finance) of the company for a term of 5 years.
The Board has approved the company’s proposal to raise funds up to Rs 100 crore via the issuance of convertible warrants.
Public sector banks, financial institutions
The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers to assist the government in its planned stake sale in public sector banks and listed financial institutions.
Bulk Deals
The promoter entity, Apollo Pipes, bought 6 lakh shares in the company at an average price of Rs 48.11 per share.
Antara India Evergreen Fund bought a 2.29% stake in the company at an average price of Rs 29.96 per share. However, Davos International Fund sold a 2.33% stake at the same price.
Stock Trades Ex-Dividend
SBI Cards and Payment Services
Stock Trades Ex-Date for Resolution Plan - Suspension
Global Infratech & Finance
Stocks in F&O ban
Chambal Fertilisers and Chemicals
Manappuram Finance
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