Stocks

Stocks that will see action on November 26

Our Bureau | Updated on November 26, 2021

Nazara, Engineers India, RPSG Ventures, Aurionpro, Texmaco, Kirloskar Ferrous will remain in focus

Nazara Tech: Pursuant to the acquisition agreement in August, executed amongst the Company, OpenPlay Technologies Private Limited (OpenPlay), Unnati Management Consultants LLP and Sreeram Reddy Vanga, the company has acquired 7,670 shares of OpenPlay Technologies and has paid the consideration by way of issue and allotment of 6,48,125 each of the company to Unnati Management Consultants LLP. With this, the acquisition of equity shares of OpenPlay as per the Acquisition Agreement is completed and the Company now holds 100 per cent of the issued and paid up share capital of OpenPlay.

Engineers India Limited and Chempolis OY, Finland, have signed a strategic alliance for conversion of Biomass to Green fuels. In the changing global energy landscape, biomass-based fuels are promising alternative for supplementing fossil fuels towards a sustainable energy future. In addition to this, biomass can be utilised to produce value added products such as phenolic resins that has the potential to substitute a lot of products obtained from fossil fuels. GoI has also set a target to achieve 20 per cent blending of ethanol in gasoline by 2025.

RPSG Ventures Ltd was declared the successful bidder for the right to own and operate the Lucknow Franchise of the Indian Premier League at Bharat Ratna Shri Atal Bihari Vajpayee Ekana Cricket Stadium from and including the 2022 season, by the Board of Control for Cricket in India, For the purpose of the above, a subsidiary of the Company, namely RPSG Sports Private Limited has been incorporated wherein the Company is holding a 51 per cent stake and the balance stake is held by private and unlisted company of RP-Sanjiv Goenka group. The Franchise Agreement has been executed on November 24 by RPSG Sports Private Limited with the BCCI where the Company is a confirming party.

Aurionpro has announced another big win in the smart transit segment. This will be amongst the largest in the world with approximately 50 crores commuters travelling annually. Aurionpro will be the system integrator for implementing "IoT based Integrated Bus ticketing System for the Uttar Pradesh State Road Transport Corporation on a Build Own Operate and Transfer model. The project is expected to be worth more than ₹60 crores, over 5 years, with the minimum guaranteed revenue. The tenure of the project includes implementation and go-live within 6 months from the signing of the contract followed by the operations and maintenance of upto 7 years after go-live.

Texmaco Rail & Engineering Limited has announced that the Rights Issue which closed for subscription on November 25, has been over-subscribed by approximately 1.35 times. The applications received in the Rights Issue are subject to verification and clearing of payments, as applicable, and finalisation of the basis of allotment.

Nagarjuna Fertilizers and Chemicals Ltd has taken a temporary shutdown of Urea Production in Plant - I, on November 24 to take up temporary repairs.

Kirloskar Ferrous Industries Limited has announced that the operations of Sinter Plant situated at Paramenahally Village, Hiriyur, Chitradurga District 577598, Karnataka have commenced for commercial production from November 24.

Bonlon Industries Ltd has executed an agreement to purchase the land and building of B.C. Power Controls Limited. Initially the property was to be sold by B.C. Power Controls Limited to Harshit Finvest Private Limited. But due to rules and regulations of Rajasthan State Industrial Development and Investment Corporation, the leasehold rights of the property could not be transferred to Harshit Finvest Private Limited as it is a Non-Banking Finance Company registered with Reserve Bank of India.

Published on November 26, 2021

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