Let's catch up on the latest news from the stock market. From significant investments to major deals, appointments, order wins and acquisitions, here’s a quick look at which stocks will be in focus in today's trade:
Stocks To Watch
Global private investment firm Bain Capital has entered into definitive agreements to acquire joint control of Manappuram Finance. The existing promoters will continue to stay fully invested. As part of the transaction, Bain Capital will be investing Rs 4,385 crore to acquire an 18% stake in the company via a preferential allotment of equity and warrants at a price of Rs 236 per share. Based on the open offer subscription, Bain Capital’s stake post-investment will vary between 18% and 41.7% on a fully diluted basis, while the existing promoters will hold a 28.9% stake in the company.
The Board of Hindustan Unilever approved the investment to acquire a 14.3% stake in Lucro Plastecycle, a leading player in recycled flexible plastics. The investment aims to strengthen plastic circularity by increasing the availability of recycled content for flexibles, providing a roadmap for businesses to move towards sustainable plastic packaging, and addressing the challenge of hard-to-recycle flexible plastic.
The motorcycles and scooters maker will make a strategic investment of up to Rs 525 crore (in one or more tranches) in Euler Motors for a 32.5% stake, foraying into the electric three-wheeler market. The acquisition is expected to be completed by April 30, 2025. Additionally, the Board has approved the setting up of a company for CSR (corporate social responsibility) initiatives.
The aluminium major plans to invest Rs 45,000 crore across aluminium, copper, and specialty alumina businesses to deliver both upstream and next-generation high-precision engineered products.
Glenmark Pharmaceuticals Inc, USA, has received final approval from the United States Food & Drug Administration (US FDA) for Olopatadine Hydrochloride Ophthalmic Solution. Olopatadine Ophthalmic is used to treat itching of the eye caused by allergic conjunctivitis (pink eye).
The IT services, consulting, and business solutions company has partnered with The Cumberland Building Society in the UK to modernize its core banking ecosystem. TCS will deploy its digital banking solution, TCS BaNCSTM for Core Banking, along with TCS Digital Home Lending Solution and Quartz for Compliance, to drive innovation and operational efficiency.
The company has received a work order from the Ministry of Defence for OFC laying work amounting to Rs 16.89 crore.
The company has received environmental clearance for the upcoming 1.2 MTPA wire rod project and 4.0 MTPA pellet plant project in Chandrapur, Maharashtra.
The Board has approved the re-appointment of Satish Parakh as Managing Director for three years, effective April 1, and Sanjay Londhe as Whole-Time Director for three years, effective April 1.
CG Power and Industrial Solutions
The company has entered the air coolers market with the launch of its JetChill technology.
The pharma company has completed its capacity expansion (Phase I) of the API plant at Pithampur, with an investment of Rs 200 crore.
The Board has ratified the re-designation of Ashok Soota to Chairman & Chief Mentor and Joseph Vinod Anantharaju to Co-Chairman & CEO of the company, effective March 19. Prior to this, Ashok Soota was serving as the company’s Executive Chairman, and Joseph Vinod Anantharaju was the Executive Vice Chairman.
Central Depository Services (CDSL)
The company's subsidiary, Centrico Insurance Repository, has entered into an agreement with Life Insurance Corporation of India (LIC) to provide insurance repository services.
The company’s subsidiaries, BrePco Biopharma (BPCO) and Piramal Critical Care (PCC), have received market authorization for Neoatricon from the UK Medicines and Healthcare Products Regulatory Agency (MHRA). Neoatricon is an age-appropriate, ready-to-use, sterile solution for the infusion of Dopamine Hydrochloride. PCC has secured the commercialization rights for the EU, UK, and Norway and will be responsible for distributing Neoatricon in these regions.
Power Finance Corporation (PFC)
The company’s subsidiary, PFC Consulting, has transferred Mundra I Transmission Limited to Adani Energy Solutions. Mundra I Transmission was established for the development of the transmission system for the supply of power to green hydrogen/ammonia manufacturing potential in the Mundra area of Gujarat.
The company’s subsidiary, Asian Paints International, Singapore (APIPL), has completed the divestment of its Indonesia operations by selling its entire stake in PT Asian Paints Indonesia (PTAPI) and PT Asian Paints Color Indonesia (PTAPCI) for SGD 6.8 million (Rs 44 crore). PTAPI and PTAPCI have ceased to be subsidiaries of APIPL with effect from March 20. In February, APIPL had entered into a Share Purchase Agreement with Berger Paints Singapore Pte, a subsidiary of Omega Property Investments Pty, Australia, for the sale of its 100% stake in PTAPI and PTAPCI.
Container Corporation of India
The company has placed an order with GATX India for the supply of 10 rakes of BLSS wagons on operating lease for 10 years. The value of the order is Rs 192 crore.
Sanjoy Kumar Goel has taken charge as Chief Financial Officer of the bank, effective March 20.
The Ministry of Corporate Affairs has approved the change in name of the company from Zomato Limited to Eternal Limited, effective March 20.
The company’s subsidiary, Endurance Overseas SpA, Italy (EOSpA), has bought back 5% of its equity shares held by Endurance GmbH, Germany, for 8.5 million euros. Endurance GmbH, Germany, is also a subsidiary of Endurance Technologies.
The company has approved the appointment of Peyman Kargar as Head - International Business, effective April 1. Additionally, the Board has declared an interim dividend of Rs 10 per share for fiscal year 2025.
Gajender Singh has resigned as Whole-Time Director, and Sunil Modi has resigned as interim Chief Financial Officer of the company, due to personal reasons, effective April 6. However, Gajender Singh will continue to work with the company as Director – Supply Chain, India, and Sunil Modi as Finance Controller, India.
The Board has approved the elevation of Rajeev Jain as Vice Chairman in the capacity of Executive Director for three years, and the re-designation of Anup Kumar Saha as Managing Director, effective April 1. Currently, Anup Kumar Saha is the Deputy Managing Director, and his term is set to end on March 31, 2028.
The Board has approved the allotment of 80,000 NCDs, aggregating to Rs 800 crore in two tranches.
Bulk Deals
National Highways Infra Trust
Vidyaniti LLP bought 3.74 crore units, and Larsen & Toubro purchased 2.24 crore units of National Highways Infra Trust at an average price of Rs 133.5 per unit. However, SBI Mutual Fund sold 6.1 crore units at the same price.
Stocks Trade Ex-Dividend
NMDC
CG Power and Industrial Solutions
Indian Railway Finance Corporation
Acceleratebs India
Stocks Trade Ex-Bonus
Greenlam Industries
Gamco
Roni Households
Stocks Trade Ex-Date for Split
Last Mile Enterprises
Optimus Finance
Shukra Pharmaceuticals
Softrak Venture Investment
Stock Trades Ex-Date for Resolution Plan - Suspension
Rathi Graphic Technologies
Stocks in F&O ban
Manappuram Finance
Polycab India
Hindustan Copper
IndusInd Bank
SAIL
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