Stocks that will see action on October 19

KS Badri Narayanan Chennai | Updated on October 19, 2021

Focus on L&T Tech, IEX, HUL, Hinduja Global, Embassy Office Parks REIT, CDSL, HG Infra, Inox Wind, Dhampur Sugar, Mold-Tek Packaging, Nestle, ACC, Heidelberg, ICICI Pru Life and I-Sec

Indian Energy Exchange has informed exchanges that the Board of Directors of the Company, scheduled to meet on October 21, will also consider a proposal for declaration of bonus issue of equity shares subject to the approval of the shareholders of the company. The board meeting will consider quarterly performance of the company.

Fair trade regulator CCI on Monday approved the acquisition of worldwide healthcare BPO services of Hinduja Global Solutions by Betaine BV. The transaction will involve the acquisition of worldwide healthcare business process outsourcing (BPO) services along with certain assets, contracts and employees by Betaine, according to a statement. Betaine has been recently incorporated in the Netherlands for the proposed transaction. It is owned and controlled by funds comprising The Baring Private Equity Asia Fund VIII, a fund affiliated with Baring Private Equity Asia (BPEA).

Investors and traders of Zerodha, UPstox, ICICIDirect and other leading brokerages were unable to execute sell orders on Monday, as the CDSL server had some issues. The glitch created problems in online authorisation of sale by investors. This authorisation is used as a proxy for giving signed POAs (power of attorney) to brokers. The TPIN authorisation was hit by the glitch. Some brokers allowed clients to skip the CDSL TPIN authorisation and gave time till 5 PM to authorise the debits.

Embassy Office Parks REIT has raised ₹4,600 crores debt at an interest rate of 6.5 per cent by pledging its Embassy Manyata Business Park assets to repay existing debt. The debt has been raised via private placement from mutual funds and insurance companies. It will use the debt raised to repay its zero coupon bonds raised in 2009 and having current outstanding value of ₹4,530 crore. This will reduce the debt cost of the REIT from 9.4 per cent to 6.8 per cent.

H.G. Infra Engineering has been declared as L-1 bidder by National Highways Authority of India (NHAI) for two HAM projects. The first is for the development of the six lane Kaliagura – Baunsaguar Section of NH-130 in Odisha on hybrid annuity mode (HAM). The NHAI bid project cost is ₹1,338.27 crore and HGINFRA’s bid project cost is ₹1,492.11 crore; and the second is for the development of the six lane Baunsaguar – Baraja Section in Odisha. The NHAI bid project cost is ₹958.98 crore and HGINFRA’s bid project cost is ₹1,123.11 crore.

Sanco Trans has sold its entire equity holding of 50,000 equity shares of ₹10 each held in its wholly owned subsidiary, SANS CFS Limited (formerly known as Sanco Clearance Limited) to Triway Container Freight Station Private Limited. Subsequent to the sale, the company has ceased to be the wholly owned subsidiary of the Company.

As a part of its strategic business plan, Inox Wind has entered into a share purchase agreement today with its subsidiary, Inox Wind Infrastructure Services Limited (IWISL) to acquire the entire issued and paid-up equity share capital of Resco Global Wind Services Private Limited (Resco), a step-down subsidiary company. Consequently, Resco — which was earlier a step-down subsidiary — will become the company’s direct wholly owned subsidiary.

Quadrant Televentures has received a Notice from the lead bank of the consortium of the lenders of the company — IDBI Bank under Section 13(2) of the Securitisation and Reconstruction of the Financial Assets and Enforcement of Security Interest Act, 2002 — vide registered post delivered today at the corporate office of the company. The bank is desirous of enforcing its security interest in respect to secured immovable non-core assets of the company situated at Mumbai and Surat. Said action by the bank is not expected to hamper the operations of the company in any manner.

A minor fire accident occurred on October 17 at one of the distillation plant of Dhampur Sugar Mills’s chemical unit, situated at Dhampur, Bijnor district, UP during the start-up process. There has been no injury to human life. The company does not expect significant adverse impact on the operations. Said plant is expected to be back in operation within 7–10 days.

Smartlink Holdings said that its subsidiary Synegra EMS has received approval from the Government of India under the Production Linked Incentive Scheme for manufacturing of telecom and networking products in India under the MSME category.

Mold-Tek Packaging has inaugurated its 11th manufacturing plant at Unnao, Kanpur, Uttar Pradesh, mainly to cater to the plastic packaging containers requirement of Kansai Nerolac Paints and other clients in the northern region. The pilot project was inaugurated on October 17 in leased premises at Unnao, admeasuring 17,500 sqft with an installed capacity of 1,500 MTPA. The company has acquired 2.61 acres of land from UPSIDC to establish the new fully functional plant by the end of FY23, with an investment of ₹25–30 crore to cater to the requirements of Berger Paints, edible oil and FMCG clients.

Vaibhav Global has informed the exchanges that the company has acquired an e-retail Shop LC GmbH, Germany, from Shop TJC, UK (a step-down subsidiary of the company) for €25,000.

Results Calendar: Hindustan Unilever, Nestle India, 5paisa Capital, ACC, Consolidated Construction Consortium, DCM Shriram, Heidelbergcement India, ICICI Prudential Life Insurance Company, ICICI Securities, JSW Ispat Special Products, Jubilant Ingrevia, L&T Technology Services, Mastek, Navin Fluorine International, Nelco, Network18 Media & Investments, Oriental Hotels, Rallis India, Rane Brake Lining, Shakti Pumps, Standard Industries, Sonata Software, Tata Steel BSL and TV18 Broadcast.

Published on October 19, 2021

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