Stocks that will see action today

K.S. Badri Narayanan | Updated on August 23, 2021

Infosys, Aurobindo Pharma, Zydus Cadila, Arvind Fashions, TVS Motor Co

The Finance Ministry has summoned Infosys MD and CEO, Salil Parekh, over the failure of the company to address issues pertaining to the glitches in the new Income Tax e-filing portal. Parekh will be appearing before Finance Minister Nirmala Sitharaman on Monday to explain why the glitches on the portal have not been resolved even over two months after it was launched.

Zydus Cadila has received the Emergency Use Authorisation from the Drug Controller General of India (DCGI) for ZyCoV-D the world's first Plasmid DNA Vaccine for Covid-19. ZyCoV-D is a three-dose vaccine which will be administered first on day zero, day 28th and then on the 56th day. With this approval, India now has its first Covid-19 vaccine for the adolescents in the 12-18 age group, besides the adult population. ZyCoV-D, is a needle-free vaccine administered using The PharmaJet® a needle free applicator, which ensures painless intradermal vaccine delivery. The company plans to manufacture 10-12 crore doses of ZyCoV-D annually.

Aurobindo Pharma, which had entered into binding agreements with Cronus Pharma Specialities India Private Limited for acquisition of 51 per cent ownership in Cronus Pharma for Rs 420 crore, has terminated the agreements. Both the parties have mutually agreed and terminated the said agreements.

The Board of Directors of Arvind Fashions Ltd has approved the issuance, offer and allotment of up to 1,82,60,858 equity shares of face value of ₹4 each to Akash Bhanshali, Kwickadd Technologies Private Limited, ICICI Prudential Smallcap Fund, ICICI Prudential Midcap Fund, ICICI Prudential India Opportunities Fund, Ashish Dhawan, University of Notre Dame Du Lac , GP Emerging Markets Strategies LP, Sachi Jagdish Master, The Ram Fund LP, Lashit Sanghvi, Neha Sanghvi, Pragma Fund SPC Equities Segregated Portfolio, The TIFF Keystone Fund LP, Catholic Endowment Fund LP, Massachusetts Institute of Technology and TIFF Global Equity Fund LP (collectively "Investors"), not belonging to the promoter or promoter group of the Company, on a preferential basis. The board also approved the issuance, offer and allotment of up to 18,30,663 equity shares to Aura Merchandise Pvt Ltd, belonging to the promoter or promoter group of the Company, on a preferential basis at a price of ₹218.50 a share aggregating to about ₹40 crore, subject to the approval of regulatory/statutory authorities and the shareholders of the company.

Adani Total Gas Ltd has executed a Share Subscription and Shareholders' Agreement on August 20 with GSEC Limited and Smartmeters Technologies Private Limited to acquire 50 per cent stake in Smartmeters Technologies Private Limited. The cost to acquire 50 per cent stake in SMTPL will be ₹1.00 crore.

TVS Motor Company: Prince Peter Rajapaksha Asirvatham has resigned as Independent Director of TVS Motor Company Limited and consequently as member of the Audit Committee and Corporate Social Responsibility Committee effective August 20 due to his declining personal health in last few months. Further, in his letter, he confirmed that there is no material reason for his resignation other than stated above.

Royal Orchid Hotels Ltd has entered into a Memorandum of Understanding with Vascon Engineers Ltd, R. Vasudevan HUF (Promoter of VEL) and Conamore Resorts Private Limited (Related Party of Promoter of VEL) to acquire the remaining 50 per cent stake in Cosmos Premises Pvt Ltd. in lieu of 100 per cent stake in Rivershore Developers Pvt Ltd and settling of liabilities in the books of RSDPL on August 21, 2021. The aforesaid MoU has been approved by the Audit Committee and Board on August 21.

The Board of Directors of Mangalam Organics Limited has considered and approved the listing of existing issued and paid-up equity share capital of the Company viz., ₹8,56,44,400 divided into 85,64,440 equity shares of Rs. 10 each (which is already listed on BSE Ltd.), on National Stock Exchange of India's main listing board.

Chembond Chemicals: Phiroze Sethna Private Limited - a wholly owned subsidiary of Chembond Chemicals Ltd - has permanently closed the Thane manufacturing facility. The revenue contributed by the unit during the last financial year was ₹7 crore and reason for the closure is poor financial viability, it said in a notice to the stock exchanges.

Gobind Sugar Mills Limited, a material subsidiary company of Zuari Global Limited, has stopped its Ethanol Plant due to shortage of molasses stock and it has started annual maintenance with effect from August 20. GSML is exploring molasses availability and the plant will be re-started accordingly. The company will announce once Ethanol plant operation of GSML resumes.

KPI Global Infrastructure has commissioned new capacity of 2.05 MW (DC) in its existing solar power plant at Village-Sudi & Tancha, Ta-Amod, District- Bharuch. The additional capacity of 2.05 MW (DC) was commissioned w.e.f. July 1, 2021 under Independent Power Producer category for Cadila Healthcare Limited, Ahmedabad, against their Power Purchase Agreement capacity for which the company has also received Commissioning Certificate dated August 17, 2021 from Gujarat Energy Development Agency (GEDA). With this addition, the total cumulative plant capacity under IPP Category of the solar power plant as on date has gone up to 59.03 MW - DC.

Ashoka Buildcon Limited has received Notification of Award (NOA) from Rewa Ultra Mega Solar Limited (RUMS) in respect of the Project, Viz. 'sub-station package - SS71 Associated with the Development of Transmission system for 1500 MW Solar parks in Madhya Pradesh (Project). The accepted Contract Price of the Project is ₹186.11 crore.

Published on August 23, 2021

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