Stocks that will see action today

K.S. Badri Narayanan | Updated on September 22, 2021

Buzzing stocks: Zee Entertainment, MTAR Tech, Surya Roshini, Archit Organsys, Torrent Power, Rajratan Wire, Deep Energy

The board of ZEE Entertainment has approved the execution of a non-binding term sheet with Sony Networks India. Promoters of Sony will have the right to appoint a majority of directors in the merged company. ZEEL will hold 47.07 per cent and Sony India 52.93 per cent stake in the merged entity. Zee Entertainment and Sony India have agreed to a binding exclusivity for 90 days.

MTAR Technologies Ltd has received NADCAP certification for its 100 per cent Export Oriented Unit (EOU) at Balanagar in Hyderabad, and a unit at IDA Jeedimetla, also in Hyderabad, for a period of 12 months, valid until November 2022.

Surya Roshni Ltd has obtained an order amounting to Rs 41.22 crore (excluding GST) for implementing smart LED street lights and installation of a centralised monitoring system with operation and maintenance by the Greater Noida Industrial Development Authority (GNIOA) through e-bidding.

The board of directors of Narbada Gems and Jewellery Ltd have considered the terms and approved the renewal of the existing fund-based and non-fund-based working capital facilities aggregating to Rs 16.17 crore from Kotak Mahindra Bank with interchangeability between the Cash Credit and Metal Term Loan according to sanction letters from the bank.

The board of directors of Archit Organosys Ltd has approved expansion of the existing production capacity by 6000 tpa in the next six to nine months. The existing capacity is 12,000 tonne (MT) per annum and capacity utilisation is at 60 per cent. The investment of Rs 5 crore for the expansion project will be financed through internal accruals. There has been increased demand for Monochloro Acetic Acid (MCA) both at the domestic and export level.

KEC International Ltd, a global infrastructure EPC major of the RPG Group, has secured new orders of Rs 1,157 crore across its various businesses. The Transmission & Distribution (T&D) business has secured orders of Rs 663 crore for projects in West Asia, Africa, and the Americas. The Railways business has secured orders of Rs 220 crore for 2 x 25 kV Overhead Electrification (OHE) and associated works for speed upgradation in India. The civil business has secured an order of Rs 173 crore for construction of a new airport terminal building and associated works in South India. The cables business has secured orders of Rs 101 crore for various types of cables in India and overseas.

Torrent Power Ltd has entered into a Share Purchase Agreement with CESC Ltd, Haldia Energy Ltd and other nominal shareholders for the acquisition of 100 per cent of the share capital of Surya Vidyut Ltd, a wholly-owned subsidiary of CESC Ltd. Surya Vidyut operates 156 MW wind power plants (the projects) spread across Gujarat, Rajasthan and Madhya Pradesh. Long-term Power Purchase Agreements (PPAs) for the projects are with the respective State Discoms. The enterprise value estimated for this acquisition is about Rs. 790 crore, subject to Closing Price Adjustments. The acquisition is further subject to customary conditions for transaction closure.

Deep Energy Resources Ltd has announced that the agreement signing ceremony of Coal India Ltd's first commercial extraction of coal bed methane (CBM) project was concluded between its subsidiary i.e. Prabha Energy Private Ltd (PEPL) and Bharat Coking Coal Ltd (BCCL), a subsidiary of Coal India Ltd at BCCL's HQ, in Dhanbad. Prabha Energy Private Ltd (PEPL), a subsidiary of Deep Energy Resources Ltd, has been selected as CBM Developer for the Jharia CBM Block-I (Jharia Coalfield, BCCL Leasehold Area) through International Competitive bidding.

Rajratan Global Wire: MP Industrial Development Corporation Ltd (Government of Madhya Pradesh Undertaking) has sanctioned Investment Promotion Assistance (IPA) the  Rs 19.74 crore under Madhya Pradesh Nivesh Protsahayan Yojana to the company. The eligibility period of assistance is 7 years (10.11.2019 to 09.11.2026) and the yearly sanctioned amount of IPA is Rs 2.82 crore. The company received Rs 2.82 crore in the first year. Further, a second tranche of assistance has also now been received by the company.

KIOCL Ltd has announced that its pellet plant has been shut down from September 20 for rectification of Indurating Machine alignment, replacement of refractories, major repairs and other maintenance works. During this period, the grinding and filtration plant will continue to operate. The operations of the pellet plant are expected to resume in six weeks.

Lincoln Pharmaceuticals Ltd, a leading healthcare company, is planning to launch Cephalosporin products soon, for which it has acquired a facility in Mehsana, Gujarat. Investment of Rs 30 crore is planned for capacity expansion and modernisation of the facility. Acquisition and further capex will be funded from internal accruals. The company expects commercial operations to begin from March 2022. The plant is expected to contribute sales of around Rs 150 crore in the next three years. It will cater to all the Cephalosporin products i.e. Tablets, Capsules, Dry Syrup and Injectables.

Published on September 22, 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