Buzzing Stocks | Adani Ports, Aarti Drugs, NMDC, DCB Bank, Emkay Global, Tata Chemicals, India Grid Trust The Indian market made a smart comeback last week with benchmark indices rising over 2 percent. However, weakness in the last two sessions cut profits and pulled Nifty back below the psychological 15,000 mark. Improving macro numbers and a strong showing from autos in February lifted sentiment, while rising bond yeilds and weak global cues kept bulls in check. Last week, BSE Sensex added 1,305.33 points or 2.6 percent to end at 50,405.32 and Nifty50 rose 408.95 points or 2.8 percent to finish at 14,938.1 levels. PNC Infratech, Rushil Decor, Cipla, Vaibhav Global, Maruti Suzuki India, Indian Bank, Force Motors, Mishra Dhatu Nigam, Garden Reach Shipbuilders & Engineers, are also among the stocks in focus today.
March 08, 2021 / 09:25 AM IST
Adani Ports | Windy Lakeside Investment Ltd, a unit of private equity firm Warburg Pincus, will invest Rs 800 crore for a 0.49 percent stake in Adani Ports and Special Economic Zone Ltd (APSEZ), the latter confirmed in a regulatory filing on March 7. The Board of Directors of APSEZ took the decision to issue up to 10,000,000 Equity shares to Windy Lakeside Investment Ltd (Windy) at a price of Rs 800 per Equity Share (at a premium of Rs 798 per Equity Share), for an aggregate consideration of up to Rs 800 crore, APSEZ said in the notice issued to the exchanges. Earlier this week, there were reports that APSEZ is acquiring 31.5 percent stake held by Windy Lakeside Investment in Gangavaram Port. The acquisition is valued at Rs 1,954 crore and subject to regulatory approvals.
Sayaji Hotels | Subsidiary Sayaji Hotels Management (SHML) has signed and entered into 7 management agreement for the expansion of SHML by having new properties in Andhra Pradesh, Gujrat, Uttarakhand, Rajasthan and Maharashtra. This expansion plan will lead to an addition of 476 new rooms and an overall increase of 1,000 rooms into the portfolio by the year 2021-22. By this plan, SHML is aiming at strengthening as well as increasing its presence on PAN India basis and also looking forward for the areas of growth.
Aarti Drugs | Subsidiary Aarti Speciality Chemicals stands out to be one of the beneficiaries of the Government of India's recently approved Production Linked Incentive (PLI) for the pharmaceutical sector. The company received approval for 2-Methyl-5Nitro-Imidazole (2-MNI) with a committed production capacity of 4,000 MT per annum under target segment III (key chemical synthesis Based KSMs/drug intermediates). The rate incentive will be 10 percent of sales value per annum for a period of 6 years - FY23 to FY28.
NMDC | The company has fixed prices of iron ore - lump ore (65.5 percent, 6-40mm) at Rs 5,100 per tonne and fines (64 percent, -10mm) at Rs 4,210 per tonne - w.e.f. March 6.
DCB Bank | Apax Global Alpha sold 37.73 lakh equity shares in the bank at Rs 110.19 per share on the NSE.
Emkay Global Financial Services | Vridhi acquired 1,57,290 equity shares in the company at Rs 76.54 per share on the NSE. Equity Intelligence India Pvt Ltd & Others including Porinju Veliyath reduced stake in the company to 5.16 percent from 5.20 percent via open market transactions.
Jump Networks | Kevin Maheshkumar Shah bought 11.75 lakh equity shares in the company at Rs 12.35 per share on the NSE.
PG Electroplast | LTS Investment Fund acquired 1 lakh shares in the company at Rs 350.16 per share on the NSE.
PNC Infratech | CARE revised company's PNC Delhi Industrialinfra's credit rating on long term bank facilities to A- from BBB+, with stable outlook.
Rushil Decor | The company has started the regular commercial production of thin & thick medium density fiber board (MDF Board) at new manufacturing unit situated at Vishakhapatnam, Andhra Pradesh, having a capacity of 800 CBM per day.
Cipla | Cipla (UK), wholly owned subsidiary of the company, has been voluntarily liquidated with effect from March 5, 2021. This liquidation was a part of internal reorganisation and it will not affect performance or revenue of the company.
Vaibhav Global | Motilal Oswal Multicap 35 Fund & Others reduced stake in the company to 7.57 percent from 7.80 percent via open market transactions.
Tata Chemicals | ICICI Prudential Mutual Fund lowered its shareholding in the company to 3.05 percent from 3.37 percent via open market transactions.
India Grid Trust | The company signed a share purchase agreement to acquire NER-II Transmission, from Sterlite Power as part of the Framework Agreement. The indicative value of the acquisition is around Rs 4,625 crore and would boost IndiGrid's AUM by 34 percent to over around Rs 20,000 crore ($2.8 billion). Post completion, the platform's asset portfolio would consist of 13 power transmission projects, with a total network of 38 power transmission lines and 11 substations extending over around 7,570 circuit kilometers & 13,350 MVA in 17 Indian states and 1 Union Territory.
Maruti Suzuki India | The company produced total 1,68,180 vehicles in February 2021 against 1,40,933 vehicles in February 2020, passenger vehicles production increased to 1,65,783 units from 1,40,370 units in same period.
Indian Bank | As part of monetisation of bank's non-core assets, the board of directors accorded in-principal approval for partial/full disinvestment of bank's stake in joint Venture ASREC (India). The bank holds 38.26 percent stake in ASREC (India).
Force Motors | The company sold 1,634 vehicles and tractors in February 2021 and produced 1,829 vehicles and tractors in same period.
Mishra Dhatu Nigam | The company has allotted commercial papers amount to Rs 50 crore to Union Bank of India on private placement basis.
Garden Reach Shipbuilders & Engineers | Nippon Life India Trustee increased stake in the company to 5.1173 percent from 4.9427 percent via open market transactions. (Image: grse.in)
Just Dial | The company has signed an advertising agreement with broadcaster Star India Private Limited "Star" for advertising as ‘Co-Presenting Sponsor’ in Indian Premier League - 14 (IPL 2021), to be held in April-May 2021.