Stocks that will see action today (March 11)

K. S. Badri Narayanan | | Updated on: Mar 11, 2022

Buzzing stocks: HDFC, BGR Energy, L&T Finance Holdings, Lupin, Sampre Nutritions, Ashoka Buildcon, Ikab Securities

L&T Finance Holdings: The Competition Commission of India (CCI) on Wednesday approved acquisition of 100 per cent share capital of L&T Investment Management Limited (L&T AMC) by HSBC Asset Management (India) Private Limited (HSBC AMC). In December last year, L&T Finance Holdings had announced that it will divest its mutual fund business to HSBC AMC for $425 million.

BGR Energy Systems Ltd had earlier announced the cancellation of Letter of Intent (LOI) regarding the award of contract for execution of 1x660 MW Supercritical Ennore Thermal Power Station (ETPS) expansion project by the customer viz. Tamil Nadu Generation and Distribution Corporation (TANGEDCO) and the company had moved the High Court of Madras challenging the said cancellation.

The company has received amendment to the LOI on March 9, 2022, issued by TANGEDCO for reinstatement of contract for 1x660 MW Supercritical ETPS Expansion Project. The value of the contract of ₹4,442.75 crore remains unchanged and the 'Zero date' for commencement of contract is revised to March 9, 2022.

The Board of Directors of Sampre Nutritions Ltd has approved the raising funds for an amount aggregating up to ₹14.46 crore by way of Rights Issue. The Rights issue will be in ratio of 2 Equity shares for every one share held at ₹15 a share.

The Board of Directors of Ikab Securities & Investment Ltd has appointed Subhash Sheoratan Mundra as an Additional Non-Executive Independent Director & Chairman of the Company with immediate effect, and Madhusudan Kela as an Additional Director & Managing Director of the Company with immediate effect.

In view of change in the management, the Board has proposed to change the name of the company to MK Ventures Ltd or any other name as may be approved and in that respect, it would seek the approval of the shareholders of the company.

Lupin Limited has said that Lupin Diagnostics has launched its first Reference Laboratory in East India in Kolkata. The new Reference Laboratory at Kolkata has capabilities to conduct a broad spectrum of routine and specialised tests in the fields of molecular diagnostics, cytogenetics, flow cytometry, histopathology, cytology, microbiology, serology, haematology, immunology and routine biochemistry.

Ashoka Buildcon Limited has announced the declaration of October 25, 2021, as the Commercial Operation Date (CoD) for its Hybrid Annuity Mode (HAM) Project of National Highways Authority of India for Six Laning of Belgaum-Khanapur Section.

Consequent to the declaration of CoD, the SPV is eligible for receipt of Annuity payments from NHAI for the operation period of 15 years at the interval of every six months from the date of achievement of CoD. The company also announced that the said SPV has received a Provisional Certificate for completion of 16.345 kms out of the total project highway Length of 30.800 kms.

HDFC Capital Advisors Limited (HCAL), a wholly-owned subsidiary of Housing Development Finance Corporation Ltd, has acquired 1,623 equity shares of Xpedize by way of conversion of Compulsorily Convertible Preference Shares. Together with 182 equity shares already held, HCAL currently holds 12.47 per cent of the equity share capital of Xpedize, which engaged in business of providing an online cloud-based technology platform.

Published on March 11, 2022
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