Stocks that will see action

KS Badri Narayanan Chennai | Updated on September 21, 2021

Focus on SBI Cards, HCL Tech, ACE, Cadila Healthcare, Adani Ports, RPP Infra, Indian Sucrose

SBI Cards and Payment Services: CA Rover Holdings, a Carlyle entity will sell around 3.2 crore shares, or a 3.4 per cent stake in the company, through a block trade, according to media reports. Carlyle will offer the shares at an indicative price band of ₹1,021 to ₹1,072.3 apiece against SBI Card’s current price of ₹1,071.70. Carlyle group had held a 6.5 per cent stake in SBI Cards at the end of June quarter. The PE firm is expected to raise ₹3,267.2 crore through the deal.

HCL Technologies has announced a five-year, digital transformation deal with MKS Instruments Inc., a global provider of instruments, systems, subsystems and solutions for advanced manufacturing processes, to improve performance, productivity and speed to market. HCL will drive digital and cloud-enabled transformation for MKS Instruments through AI/ML-led automation, enhanced user experience with end-to-end Infrastructure services, digital workplace services and IT transformation. MKS Instruments’ employees in nearly 60 countries will have the advantage of using HCL’s vast network of global delivery centers and its wide breadth of technology solutions, including its cuttingedge AI and automation frameworks and tools.

Zydus Healthcare, a wholly owned subsidiary of Cadila Healthcare Ltd, has entered into an agreement on Monday with Integrace Private Limited to sell two brands viz. Mifegest and Cytolog. The transaction is expected to be completed within 30 days from the date of execution of agreement subject to customary approvals. Purchaser is a part of the portfolio companies of PE firm True North and the deal is not a related party transaction.

Adani Ports & SEZ: The Competition Commission of India (CCI) on Monday said it has approved Adani Ports and Special Economic Zone Ltd’s acquisition of 10.40 per cent stake in Gangavaram Port. The Andhra Pradesh government has already approved the proposal of acquisition of 10.4 per cent stake in the port for ₹644.78 crore, the Adani Group company had said in an exchange filing last month.

KP Energy has operational site of 70MW at Mahuva - I, in Bhavnagar, Gujarat. It had spare capacity available for utilisation of Power Evacuation Infrastructure. The company has received LOI aggregating ₹119.73 crores from captive customers in Gujarat for executing wind power project under the Wind Power Policy 2016 which is getting expired on March 31, 2022. The orders will be executed within the current financial year.

RPP Infra Projects Limited has received a new project for Engineering, Procurement and Construction of the Handicraft Centre of Bareilly Haat and Handicraft Centre with 1 year defect liability under smart city mission (Bareilly Smart Contract City Limited, Bareilly). The contract price is ₹157.67 crore (inclusive of GST).

Gensol Engineering Ltd has purchased 51.68 per cent equity shares amounting to 4,83,020 equity shares of Solarig Gensol Utilities Private Limited. The company is holding 48.32 per cent equity shares amounting to 4,51,475 equity shares. By virtue of this transaction the target will become the wholly owned subsidiary of the company, which is in the business of operation and maintenance of solar power plants across India. Solarig Gensol Utilities provides comprehensive O&M and manpower services. It helps clients in maintaining their solar assets.

Action Construction: Subsequent to the approval accorded by the Board of Action Construction Equipment Ltd in July 31 and the special resolution passed by the shareholders of the company on September 3, the Qualified Institutions Placement Committee has approved the preliminary placement document and authorised the opening of the Issue on September 20 and approved the floor price of ₹254.55 a share for the Issue.

The Board of Directors of Indian Sucrose has approved the expansion projects of the company. For the Brownfield Project, the board has decided to get in to the expansion of existing the sugar mill plant and co-generation of power plant, and for the Greenfield Project, it has decided to commence the project of a molasses based distillery for production of Ethanol and co-generation of power plant.

Published on September 21, 2021

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