Stocks that will see action today (October 27)

KS Badri Narayanan, Chennai | Updated on October 27, 2021

Buzzing stocks: IOB, PNB, Dr Lal PathLabs, IRB Infra, Nazara Tech, Firstsource, Maruti, Tata Chem, Titan, L&T, Adani Enterprises, Adani Power, RPower, Bajaj Auto

IDFC: IDFC Financial Holding Company writes to IDFC First Bank informing it on value unlocking plans. In a notice to the stock exchanges, IDFC Financial Holding Company said that it holds 36.50 per cent equity in IDFC First Bank.

Five-year lock-in period for IDFC Ltd as promoter of the bank ended on September 30, 2020. Post this, RBI has clarified that IDFC Ltd can exit as the promoter of IDFC First Bank. IDFC’s board has approved sale of IDFC AMC, post which it will hold IDFC FIRST Bank and cash generated from sale of AMC. Actions to dispose IDFC Foundation and its underlying joint ventures also underway.

Dr. Lal PathLabs Limited (DLPL), an Indian diagnostic and healthcare services provider, has agreed to acquire Suburban Diagnostics (India) in an all-cash deal for an enterprise value of 18.5x of FY22 audited EBITDA subject to a floor of ₹925 crore and a cap of ₹1,150 crore. Suburban Diagnostics has been providing diagnostic services since 1994. Its acquisition gives the Delhi-based Dr. Lal PathLabs access to 44 laboratories and diagnostics centres and more than 150 collection centres.

Also read: Day Trading Guide for October 27, 2021

KIOCL Limited and Glencore International AG (GIAG) have signed a non-binding Memorandum of Understanding (MoU), whereby the former will supply iron ore pellets to GIAG for further sale by GIAG in South Korean, European and Non-Chinese market. The MoU shall be valid for a period of one year.

MEP Infrastructure Developers, in Joint Venture with Ozoneland Private Limited, has received a Letter of Award from Public Works Department (PWD), government of Maharashtra, for road projects under Hybrid Annuity Mode. The bid project cost is ₹183.42 crore and first year O&M cost is ₹3.33 crore. The company will receive Semi-Annual Annuity from the PWD post Commercial Operation Date (COD).

Nazara Technologies has acquired 1,601 equity shares of ₹10 each in Rusk Media and paid the consideration of ₹2.01 crore to the respective sellers for the same. Post Acquisition, the company is now holding 5.54 per cent of the issued and paid up share capital in Rusk Media.

Hero MotoCorp Ltd has inaugurated a new exclusive dealership in Dubai. Expanding its footprint in the UAE, the company today commenced operations at the new exclusive showroom located in the Al Gazal Mall, on 2nd December Street, Jumeirah 1, Dubai. The state-of-the-art workshop, enabling 3S (sales, service, spares) operations, is located at Al Quoz Road No.318, Al Quoz Industrial Area III, Dubai.

Firstsource Solutions Limited, a global provider of Business Process Management (BPM) services and an RP-Sanjiv Goenka Group company, has said that it has partnered with Eco-Mail, a leading SaaS provider that transforms physical mail assets into digital assets. Eco-Mail’s software adds to Firstsource’s digital enterprise workflow capabilities by enabling health plans to rapidly process and digitize incoming paper mail, making speed of processing faster, more accurate and more efficient.

Neogen Chemicals Ltd has announced that the Phase II commercial production/operations for manufacturing of organic chemicals has commenced successfully at its Dahej SEZ.

Also read: Parag Milk Foods (₹136.45): BUY

IRB Infrastructure Developers Ltd has announced the largest equity fundraise of up to ₹5,347 crore by an Indian road developer through a preferential allotment of equity shares to affiliates of Ferrovial S.A and GIC. Upon completion of the proposed preferential allotment, Cintra shall have the right to nominate two directors.

Sharika Enterprises Ltd had bid tender for Design, Manufacture, Supply, Erection, Testing and Commissioning including Warranty and Maintenance for 5 year of 3 MW Off-Grid SPV Power Plants. We are in L1 for 3MW in 1 KW Category. The company has now received the LOI for 1 MW from Punjab Energy Development, amounting to ₹12.33 crore Including taxes. The company is also expecting to receive balance 2 MW LOIs soon.

Results Calendar: Aarti Drugs, Adani Entertainment, Adani Ports, Aegis Logistics, Apollo Tricoat Tubes, Aegis Logistics,Apollo Tyres, Arvind, Asahi India, Astec, Balaji Aminies, Bajaj Auto, Butterfly, Cochin Malabar Estates, Cosmo Films, Cummins India, Datamatics, Dalmia Bharat, Deepak Nitrite, Dhruv Consultancy, Ecoboard, Eimco Elecon, Exxaro TIles, Geojit Financial, Golkunda Diamonds, Graviss Hospitality, Greenpanel, GRM Overseas, Happiest Minds, HIL, Hindustan Flurocarbons, IOB, IIFL, IIFL Wealth, IndiaGrid, IndusInd Bank, ITC, JK Paper, KEC International, KEI, Kopran, LMW, L&T, Lupin, Mahindra Logistics, Maruti Suzuki, Mas Financial, MMTC, MPS, Mukta, OFSS, Orient Bell, Phillips Carbon, PNB, Poonawala Fincorp, Praj, Ramco Systems, Raymond, Resonance Specialities, RPower, Sagar Cement, SBI Life, Shilp Grauvers, Shree Digvijay Cement, Shriram City Union Finance, SKF India, Sona BLW Precision, Tata Chemicals, Timex, Titan Company, Torrent Power, Triveni, TTK Prestiege, UBL, United Spirits, Vaibhav Global and Welspun India.

Published on October 27, 2021

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