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Buzzing Stocks: HCL Tech, Macrotech Developers, Infosys, Inox Wind, and others in news today
Stocks to Watch: Check out the companies making headlines before the opening bell.
1/10
Inox Wind: The company allotted 0.01 percent non-convertible, non-cumulative, participating, redeemable preference shares of Rs.10/- each on a private placement basis to Inox Leasing and Finance Ltd, the ultimate holding company, for a cash consideration of Rs 600 crore. Company repaid Gujarat Fluorochemicals Rs 623 crore against advances.
2/10
Infosys: India’s second largest IT services company commenced its fourth share buyback amounting to Rs 9,300 crore. The buyback will be at a price not greater than Rs 1,850 per equity share having face value of Rs 5 each through the open market route. The company will be utilising at least 50 percent of the maximum sum fixed for the buyback i.e. Rs 4,650 crore.
3/10
Eveready Industries: Eveready Industries appoints Bibek Agarwala as the new CFO w.e.f. February 14, 2023. He replaces Indranil Roy Chowdhury and Bibhu Ranjan Saha, who had earlier been designated as Joint Chief Financial Officers of the company.
4/10
Metro Brands: The company completes 100 percent acquisition of Cravatex Brands. Cravatex is engaged in the business of importing, trading, selling marketing, advertising, retailing and distribution of footwear, apparel and accessories under various brands including FILA and Proline.
5/10
VA Tech Wabag: The company appointed Pankaj Malhan as deputy MD & group CEO w.e.f. from December 07. The company also re-designated Rajiv Mittal as Chairman and Managing Director w.e.f from December 07.
6/10
Mahindra Logistics: The company incorporated MLL Global Logistics as wholly-owned subsidiary in the UK on December 6 for carrying on the business of logistics, supply chain management including freight forwarding and air charter business across geographies.
7/10
Macrotech Developers: Macrotech Developers fixes QIP offer floor price at Rs 1,022.75 per share. The company and the selling shareholders may offer a discount of not more than 5 percent to the floor price. The relevant date for the purpose of the offer is fixed as December 7.
8/10
HCLTech: HCLTech teams up with Intel and Mavenir to deliver critical 5G enterprise technology solutions. Through this new collaboration, the companies will work closely on a wide and comprehensive range of projects and activities across enablement, go-to-market and sales acceleration, with the goal of delivering more 5G solutions to CSPs, IoT and enterprise verticals.
9/10
Lumax Industries: The company will set up a new project at Chakan, Pune involving a capex of Rs 175 crore for phase 1. The project will service the orders received from OEMs for advanced lighting solutions. The project is expected to be commissioned by Q2FY24 and will be financed by a mix of debt and internal accruals. The company may also avail long term credit facilities for this project.
10/10
IL&FS Transportation: The company will sell its 50 percent stake in the joint venture Hazaribagh Ranchi Expressway Ltd (HREL). It assigned road JV receivables amounting to Rs 40 crore to Roadstar Infra Investment Trust
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