Stocks

Stocks that will see action on November 17

K. S. Badri Narayanan | | Updated on: Nov 17, 2021
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Focus on JSW Steel, Biocon, Coforge, KDDL, Welspun Enterprises, Meghmani Organics, RHI Magnesita, Welspun Enterprises

Welspun Enterprises

Welspun Enterprises has announced the receipt of a letter from PWD Maharashtra (PWD) declaring provisional commercial operation date from November 11 in respect of the hybrid annuity model (HAM) project two laning of road with paved shoulder under MRIP Package No. AM 2 under Public Works Circle, Amravati. With this event, the company is entitled to receive annuity, interest and O&M payments from PWD every six months in accordance with the provisions of the concession agreement, it said in a notice to the stock exchanges.

Biocon

Biocon Biologics, a subsidiary of Biocon, and Viatris Inc, have announced the US launch of interchangeable biosimilars SEMGLEE (insulin glargineyfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Both biosimilar products are available in vial and prefilled pen presentations and are interchangeable for the reference brand, LANTUS (insulin glargine), allowing for substitution at the pharmacy counter.

KDDL

Ethos, a material subsidiary of KDDL, has signed agreements with RIMOWA and Bovet Watches. It has entered into a franchise contract with Rimowa for the opening of the first Rimowa store in Jio World Plaza, Mumbai and an agreement with Bovet watches for exclusive right distribution, sales and promotion.

Coforge

Coforge, a global digital services and solutions provider, has announced that it has filed a registration statement on Form F-1 with the US Securities and Exchange Commission in connection with a proposed initial public offering of american depositary shares representing its equity shares. The selling shareholders of the ADS will be identified through an invitation to participate in the offering. Coforge will be dispatching the relevant documents for participation in the IPO including the invitation to participate and the letter of transmittal to its existing equity shareholders as on an identified date (November 12).

Meghmani Organics

Meghmani Organics has announced that it will enter into new and lucrative variant of white pigment titanium dioxide (TiO2). The company will set up 33,000 tons production facility at a total capex of ₹400 crore at Dahej, the chemical hub of Gujarat. Titanium Dioxide (TiO2) has application as a bright white pigment in various industries including paint, coating, plastic, ink, dyes, paper and cosmetics etc. The project is expected to be commissioned by Q1 FY24 adding ₹700 crore to MOL's topline on a full financial year basis.

RHI Magnesita India

RHI Magnesita India has established a new R&D Centre at Bhiwadi, Rajasthan. RHI Magnesita, the leading global supplier of refractory products, systems and solutions, announced the operationalisation of its regional R&D centre in India. This is the fifth R&D facility in the company's global R&D network after Leoben (Austria), Contagem (Brazil), Dalian (China) and York (United States). The company has also committed a ₹400 crore investment to expand its India production capacity.

Linde India

Linde India joint venture company Bellary Oxygen Company has accepted JSW Steel offer for purchase of the 855 tonnes per day air separation unit and other related assets owned by the aforesaid joint venture company, which form part of the Belloxy Divestment. In view of the expiry of the gas supply contract with JSW Steel on 14 November 2021, Bellary Oxygen Company has signed and executed the Asset Sale Agreement with JSW Steel and has received the consideration amount of ₹50 crore for the transaction.

Grindwell Norton

Grindwell Norton has made an investment of ₹15 lakh in Cleanwin Energy Three LLP towards power purchase.

Published on November 17, 2021

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