Stock that will see action on September 5, 2022

Shapoorji Pallonji group stocks, such as Forbes Ltd, Eureka Forbes, and Sterling & Wilson Renewable Energy,will remain in focus, following the tragic death of Cyrus Mistry, who was killed in a road accident near Mumbai on Sunday. 

Suzlon Energy: State Bank of India has disclosed that Suzlon promoter had created an additional pledge of 5.53 percent in favour SBI CAP Trustee. With this, the total equity pledged with SBI CAP Trustee increases to 9.92 percent.

Wiprohas partnered with Cisco to accelerate cloud transformation for customers. The partnership will enable Wipro customers to deploy Wipro FullStride Cloud Service to enable a fully automated hybrid-cloud stack, reducing the implementation time and enhancing the user experience.

Digital financial services firm, One97 Communications, which operates under the Paytm brand, on Sunday denied any link with the merchants that are under the Enforcement Directorate scanner in the Chinese loan app case. Paytm said none of the funds frozen by the Enforcement Directorate (ED) belongs to it or any of its group firms. The ED on Saturday said it has conducted raids at six premises of online payment gateways, such as Razorpay, Paytm and Cashfree, in Bengaluru, over the alleged irregularities in instant app-based loans “controlled” by Chinese persons.

Infosys has completed the acquisition of BASE life science, a leading technology and consulting firm in the life sciences industry, in Europe. This follows the announcement the company made on July 13, 2022. Headquartered in Denmark, BASE is one of the fastest-growing technology and consulting partners in the life sciences industry.

Allcheckdeals India Pvt. Ltd, a wholly owned subsidiary of Info Edge India Limited, has invested an amount of about ₹90 crore, in 4B Networks Private Limited. Since 4B is a subsidiary of ACD, it falls in the category of a related party as on the date of making this investment.

Vedanta group firm Hindustan Zinchas entered into a pact with special purpose vehicle, Serentica Renewables India 4 Pvt Ltd, for the delivery of renewable power on a long-term basis. The SPV has been formed in a bid to supply power over a long-term to the company.

HBL Power Systems Ltdas the lead member of a consortium with Siemens, signed the first contract under Mission Raftar project, with Eastern Railway for deployment of Kavach (TCAS - Train Collision Avoidance System) over 260 kms of track and 120 locomotives, from Howrah to Pradhankhanta. The contract price is ₹286.69 crore, including taxes of which HBL’s work share is ₹205.88 crore. The contract is scheduled to be completed in 700 days.

The Board of Natco Pharma has approved the proposal to sell the investment of 15 percent of shareholding in joint limited liability company (JLLC) “Nativita”, a Company registered under the Companies Law of the Republic of Belarus for an amount of 3,45,000 (three lakh forty five thousand only) Euros to “Pharmasyntez-Nord” Joint Stock Company, a legal entity under the laws of the Russian Federation subject to the approval of the Statutory and Regulatory Authorities.

The Board of GMR Infrastructure has approved raising of funds of up to ₹6,000 crore in one or more tranche(s) through issue of securities, including a Qualified Institutions Placement and/or Foreign Currency Convertible Bonds and/or any other securities as an enabling resolution as per the requirements of applicable laws, which shall be subject to approval of shareholders and other regulatory and/or statutory approvals, as applicable.

HFCL’s board has approved raising up to ₹650 crore, which will be invested in enhancing R&D facilities, setting up new production facilities to enhance capacity under the production linked incentive (PLI) scheme and design linked incentive (DLI) scheme.

Olectra Greentech has bagged an order worth ₹151 crore for supplying 100 electric buses to the Assam State Transport Corporation. This is the first order for the company from northeastern states, given on an outright basis. The buses will be delivered over a period of nine months, and maintenance will be taken care of for the next five years by Olectra.

Under the aegis of its A. Catalyst network, AstraZeneca India announced its partnership with Alveofit, a SaaS-IoT enabled respiratory healthcare platform, to offer IoT-enabled handheld spirometers at hospitals across the country.

Shareholders of Nxtdigital Ltd has voted in favour of its merger with Hinduja Global Solutions Ltd, the company said on Friday. “99.99 per cent non-promoter shareholders vote in favour of the Scheme of Arrangement between Nxtdigital Limited and Hinduja Global Solutions Ltd,” NDL said in a statement.

The board of Waaree Technologies Limited has approved the purchase/acquisition/slump purchase of the Lithium Battery Business Undertaking from related party, Waaree Ess Pvt Ltd, together with all its assets and liabilities, including the concerned licenses, permits, consents, approvals, and the employees, as a going concern/on a slump sale basis on “as is where is basis”. The Board may deem fit at a consideration, which would be restricted to a maximum sum of ₹20 crore.

Archit Organosys has incorporated wholly owned subsidiary namely, in the name and style of Archit Life Science with an initial authorised share capital of ₹10 lakh and paid-up share capital of ₹10 lakh to, carry on business of manufacturing chemicals, namely ethyl acetate, butyl acetate, propyl acetate, acetaldehyde, and acetic anhydride.

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