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Buzzing Stocks | Larsen & Toubro, Ambuja Cements, IDBI Bank, and others in news today
Stocks to Watch: Check out the companies making headlines before the opening bell.
1/13
Larsen & Toubro: Subsidiary L&T Realty Developers has entered into an agreement to sell entire stake of 99% in its subsidiary Think Tower Developers. The entire stake is being sold to Pratik Harshad Kalsariya, who does not belong to the promoter group. Think Tower Developers has not commenced commercial operation and hence has zero revenue and net worth.
2/13
Ambuja Cements: The cement company has incorporated a wholly owned subsidiary - Ambuja Resources. The subsidiary will enter into manufacturing of cement & allied product, alternate fuel and power generation.
3/13
Rail Vikas Nigam: The company in joint venture with ISC Projects has received letter of award for supply and commissioning of ballastless track for Surat Metro Rail Project under Phase-1. The accepted contract amount is Rs 166.26 crore.
4/13
Muthoot Capital Services: The company has issued commercial paper of Rs 30 crore.
5/13
RHI Magnesita: The company has received approval from BSE and NSE for acquisition of refractory business of Dalmia Bharat Refractories for Rs 1,708 crore. In November 2022, RHI received approval from board of directors for allotment of 2.7 crore equity shares at an issue price of Rs 632.5029 per share to Dalmia Bharat Refractories in exchange of 8.24 crore shares (100% equity) of Dalmia OCL, from Dalmia Bharat Refractories. With this, Dalmia OCL will become a wholly owned subsidiary of RHI.
6/13
IDBI Bank: The Securities and Exchange Board of India has given its approval for reclassification of the government's shareholding in the bank as 'public' after its stake sale. The government and state-run Life Insurance Corporation of India (LIC) will sell 60.72% stake in IDBI Bank as part of the disinvestment, and after the stake sale, government's shareholding will be reduced to 15%.
7/13
Mukand: The company has completed the transfer of 45.94 acres of the land at Kalwe/ Dighe facility in Thane, Maharashtra by executing Deeds of Conveyance in favour of the purchaser - AGP DC Infra Two Private Limited. The entire consideration of Rs 796.46 crore is received by the company.
8/13
Vishwaraj Sugar Industries: The sugar manufacturer has approved raising of funds via issue of equity shares to the existing members of the company on rights basis. The fund raising via rights issue will be up to Rs 150 crore.
9/13
Aster DM Healthcare: Sreenath Pocha Reddy, Group Chief Financial Officer and key managerial personnel of the company has tendered his resignation due to personal reasons. He relieved from the said service with effect from January 6, 2023.
10/13
MTAR Technologies: Nippon Life India Trustee bought 30,011 equity shares or 0.097% stake in the company via open market transactions. With this, its shareholding in the company increased to 7.0155%, up from 6.9179% earlier.
11/13
Kewal Kiran Clothing: KKCL announced strategic partnership with Board of Control for Cricket in India (BCCI) as the Indian Cricket Team's 'official partner'. This alliance will see KKCL's flagship brand 'KILLER' displayed on the right upper chest of the Team India jersey. With this partnership, KKCL plans to reach out to the millions of cricket fans that are spread across the country and overseas.
12/13
Dharmaj Crop Guard: The agrochemical company has approved resignation of Vishal Domadia from the post of Chief Financial officer, and and appointment of Vinay Joshi as Chief Financial officer. Now Vishal Domadia will be as Chief Executive officer of the company with effect from January 6, while Deepak Prusty has resigned as Internal Auditor of the company.
13/13
Clara Industries: Credent Asset Management Services has bought 15,000 shares in the industrial packaging solutions provider via open market transactions at an average price of Rs 201.76 per share. Maven India Fund has purchased 13,500 shares in the company at an average price of Rs 200.8 per share.
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