Stocks in news: L&T Fin, Amtek, Elder, Kesoram, JP Power

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26 Aug, 2025 12:21

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Here are stocks that are in news today:

Jubilant Life-Signs term sheet with Cyclopharm for exclusive licence-Signs term sheet with Cyclopharm to market Technegas in US

Shiv Nadar & Sanjay Kalra patner to invest in US healthcare IT companies-Shiv Nadar & Sanjay Kalra set up JV with initial corpus of USD 500 millionSanjay Kalra, SNSK Chairman says:-Will invest up to USD 500 million in US healthcare IT products & platform-Intent is to buy out mature companies in healthcare IT space-Will invest in select start-ups & early stage companies in US & India-USD 200 million will come via equity & USD 300 million through debt-Out of USD 200 million for equity, Shiv Nadar to invest 80 percent & I will invest 20 percent-US healthcare spend in FY15 was USD 3.2 trillion, 17-18 percent of the GDP-As we introduce pdts & platforms, will move to other markets

Fund actionArvind Infra-Sunny Porinju Veliyath bought 1.6 lakh shares at Rs 35.6/Share-Sundaram BNP Paribas sold 2.19 lakh shares at Rs 34.4/Share-Norges Bank sold 3.14 lakh shares at Rs 35.4/ShareManappuram Finance-Ashish Dhawan bought 90.04 lakh shares at Rs 20.20/ShareMetalyst Forgings-HDFC MF sold 4.03 lakh shares at Rs 35.9/ShareAutomotive Axles-UTI MF bought 2.25 lakh shares at Rs 660/Share

UKIBC Convention: Bupa says-We are in India for long-term-Will be increasing our stake in Max Bupa to 49 percent from 26 percent-There are challenges, but government is moving in right path

Axis Bank MD & CEO Shikha Sharma says-Will be happy to tie up for a payments bank if there is an opportunity-Still exploring the possibility of tie-up for payments banks-Base rate should come down in the next couple of months-75 percent of bank's lending is linked to base rate-Looking at marginal cost of funding to determine base rate-Adopting marginal cost of funds will not impact base rate significantly-There is headroom for RBI to cut rates-Expect a 25 percent growth in the retail segment this year

Commerce Minister Nirmala Sitharaman says-World Bank report on states ranking on ease of doing business expected soonAlert: Commerce Minister held interactive session with finance sector representatives-States were asked questions on 98 parameters-Interest subvention policy for exporters to be submitted to cabinet shortly-Allocation for interest subvention policy already made in FY16 Budget-India is already almost a surplus power country-Discoms’ ability to purchase power is the major impediment-For ease of doing business, several steps taken for contract enforcement-Commercial benches being set up in courts for ease of doing business-Keeping close watch on dumping, cheaper raw material import could help exports

Castex Technologies: Sources-StanChart Bank & Citicorp International to initiate legal proceedings against company-StanChart Bank & Citicorp to initiate legal proceeding in English Commercial CourtAlert: Citicorp International is the trustee for Castex Tech FCCBs-Citicorp had asked company to suspend any action in relation to the mandatory conversion notice (MCN)-Castex proceeded with mandatory conversion on September 10Alert: StanChart Bank refused to comment on issue due to client confidentialityAlert: Citicorp declines to comment on the Castex Tech issueAlert: Castex Tech did not respond to CNBC-TV18 Query

JK Tyre to acquire Kesoram Industries' tyre manufacturing unit near Haridwar for up to Rs 2,200 croreJK Tyre says-Board okays acquisition of Cavendish Industries from Kesoram Industries-Acquisition of Cavendish Industries to be funded via debt, internal accruals-Company will hold largest shareholding block in Cavendish Industries-Company shall have substantial management control of Cavendish-Company will have an option to place up to 55 percent with its associate/group companies-Financial exposure of company in the acquisition expected to be approximately Rs 450 crore-Transaction expected to be consummated over next few months

Kesoram Industries says-Cavendish Industries' deal likely to be completed by December-Haridwar plant deal will strengthen balance sheet of company-Proceeds of monetisation will be used to reduce company’s debt burden-Remain strongly committed to the presence in tyre business-Making significant investments into rayon business to expand into new product categories

Kesoram Industries to CNBC-TV18:-Binding agreement to sell Cavendish unit to JK Tyre for Rs 2,195 crore-Cavendish unit, when fully used, can yield revenue of Rs 3,000 crore-Will not suffer much revenue loss on Cavendish unit sale-Kesoram is not an NPA account-Company’s total debt stands at Rs 3,800 crore currently-Most of the sale proceeds will be used for debt reduction-Cannot say if we will come into the black this year-Company is mostly done with its inorganic moves-Balasore expansion coming up; will give additional revenue-Have loans from 16 banks-Can't say which banks will benefit from moveAlert: SBI Caps was the banker to the dealAlert: Kesoram Industries has not yet announced its FY15 numbersAlert: Kesoram Industries' net loss in FY14 was Rs 515 croreAlert: Kesoram Industries's net loss was Rs 697 crore in April-December FY15

Sharon Bio challenges the case filed by India Factoring & Finance Solutions in Bombay High CourtAlert: Had taken unsecured loan from India Factoring & Finance Solutions

Other stocks and sectors that are in news today:-Bain Capital to buy USD 300 million stake in L&T Finance Holdings: ToI-SEBI wants MFs to reveal Jindal Steel Holdings: ET-GE Capital plans to pull out of SBI Cards: ET-Amtek Group to sell non-core assets, stakes in overseas businesses to cut debt: ET (Amtek Auto in focus)-Diageo could lose title of over 1 crore United Spirits shares in case of adverse ruling on several winding-up petitions-Government to extend tripartite agreement to encourage private solar power players to sign deals with NTPC: FE-IRDA asks Bharti-AXA to rework shareholder pact: FE-Borosil Glass to buy back up to 6.96 lakh equity shares at Rs 2,500/share-Elder Pharma says in talks with prospective lenders w.r.t company's restructuring plan-Adani Power to expand capacity of Udupi Power plant by 1,600 MW-Maruti Suzuki introduces dual airbags & ABS on base models of Ciaz-Jaiprakash Power says 400 MW Vishnuprayag Hydro power plant resumes power generation-TeamLease Files IPO papers with SEBI to raise Rs 450-500 crore-CCI clears acquisition of Yum! India operations by PE firms