Stocks

Stocks that will see action today

K.S. Badri Narayanan Chennai | Updated on September 20, 2021

Buzzing stocks: Nazara, Sterling & Wilson, Lupin, KEC International, Rail Vikas Nigam

Nazara Tech: The board of NODWIN Gaming Pvt Ltd, a material subsidiary of Nazara Technologies, has approved the acquisition of Gaming and Live IPs of OML Entertainment Pvt Ltd as a going concern on a slump sale basis, for a lumpsum cash consideration of Rs 73 crore.

Lupin Ltd has announced that the US FDA has concluded an inspection at its Goa facility. The inspection was carried out from September 6-18 and closed with seven observations. The company is confident of addressing the observations satisfactorily and is committed to be compliant with Good Manufacturing Practice standards across its facilities.

Sterling & Wilson: The Shapoorji Pallonji Group, promoters of Sterling & Wilson Solar, on Sunday announced the sale of its consumer durables business under the Eureka Forbes label to American private equity fund Advent International. The PE firm will acquire 72.56 per cent stake in the business, which will come under a standalone company. The sale will help the 156-year-old Shapoorji Pallonji Group pare its debt, which currently stands at Rs 10,900 crore, as it intends to focus on its core businesses of construction and real estate.

DCM Nouvelle Ltd has performed Bhoomi Poojan of a new plant at the proposed site at Hisar (Haryana). The capacity of this new production line will be approximately 43,776 spindles which will take its overall capacity to approximately 1,58,000 Spindles. The said new plant would involve an investment of Rs 175 crore approximately in Building, Plant & Machinery, Utilities and other related infrastructure. The project is likely to be completed by next year and will be financed by a mix of internal accruals and debt.

Sukhjit Starch: The board of Sukhjit Starch and Chemicals Ltd has approved the issuance of 8,15,000 equity warrants convertible into equity shares of face value Rs 10 a share to the promoters and the promoter group on a preferential basis at Rs 300 a share warrant. The board has also approved issue of 85,360 equity warrants convertible into shares to the non-promoters/public category on a preferential basis at Rs 300 a share.

KEC International, an RPG Group Company, has entered into a definitive agreement to acquire 100 per cent equity in Spur Infrastructure Pvt Ltd for an enterprise value of Rs 62 crore subject to customary adjustments at closing. The acquisition is expected to be completed within 60 days from the date of agreement. Spur Infra, incorporated in 2016, is an Indian EPC company engaged in setting up cross-country oil & gas pipelines and city gas distribution networks.

Rail Vikas Nigam Ltd has secured a contract from Madhya Pradesh Metro Rail Corporation Ltd for the design and construction of elevated railway and other related works. The total contract amount is Rs 1,034,90 crore.

Bliss GVS Pharma has purchased immovable property situated at Vadodara from JM Financial Asset Reconstruction Company Ltd by way of private treaty under the provisions of the SARFAESI Act. The acquisition is for the expansion of its manufacturing capability, research & development and business operations and development of the company.

Orchid Pharma has transferred the formulations business (IKKT) at Irungattukottai, Chennai by way of a stump sale on a going concern basis to OrBion Pharmaceuticals Private Ltd as contemplated in the Business Transfer Agreement (`BTA’) dated July 21, 2024. Pursuant to the above strategic collaboration, Bionpharma Health INC holds 74 per cent and the company holds 26 per cent of the equity share capital of OrBion Pharmaceuticals Private Ltd.

The board of Shree Ganesh Remedies has approved and recommended issue of bonus equity shares in the proportion of 1:5, that is 1 (one) bonus equity share of Rs 10 each for every five held, as on the record date, subject to approval of the members of the company.

The Board of Directors of Adani Ports and Special Economic Zone Ltd has given an in-principle approval for issuance of non-convertible debentures for capex/ refinancing of existing debt and general corporate purpose for an amount not exceeding Rs 1,000 crore in one or more tranches on private placement basis.

Dynamatic Technologies has been awarded a contract for manufacturing assemblies for Boeing's newest tactical fighter, F-15EX Eagle II. This is a first, where aerostructures for the latest and most advanced F-15EX Eagle II will be made in India. This contract has given a boost to the Aatmanirbhar programme and strengthens US-India collaboration in aerospace and defence industrialisation. Dynamatic Technologies will supply the F15EX aerostructure assembly requirements from FY 2022. Dynamatic will manufacture these aerostructures from their manufacturing facility in Bengaluru.

McNally Bharat & Eveready Ind: Eveready Industries Ltd has initiated proceedings before the High Court at Calcutta on September 15, 2021, for recovery of an amount of Rs 4.12 crore being the interest amount due from McNally Bharat Engineering Company Ltd (McNally) in respect of Inter Corporate Deposits (ICDs) earlier given to McNally, the principal amount of which has been repaid. The above has no impact on the operations or day-to-day business of the company.

Published on September 20, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like