Stocks that will see action today

K. S. Badri Narayanan | | Updated on: Apr 04, 2022

Abstract virtual financial graph hologram on blue background, forex and investment concept. 3D Rendering | Photo Credit: Igor Kutyaev

Buzzing stocks: Avenue Supermarts, Wipro, TVS Motor, IEX, ONGC, GOCL Corp, GHCL, Jubilant Pharmova, Lupin, Vascon Engineers, Dr Reddy’s Lab

Avenue Supermarts Limited has announced the quarterly update at the end of Q4 of FY2021-22 (January 2022-March 2022). The standalone revenue from operations for the quarter ended (QE) March 31, 2022, stood at ₹8,606.09 crore. The standalone revenue from operations for QE March 31, 2021 was at ₹7,303.13 crore.

TVS Motor (Singapore) Pte Limited (TVSM Singapore), a wholly owned subsidiary of TVS Motor Company Ltd, has acquired a majority stake (70 per cent) in EBCO Limited, a British company providing smart connected mobility solutions, and thereby, it has become a subsidiary of TVSM Singapore as well as to the company. The cost of the acquisition was ₹11.6 crore,

Shares of Wipro will turn ex-date on April 5 for dividend. The IT major has approved an interim dividend of ₹5 per equity share for FY2021-22 and fixed April 6 as the record date. Investors who wish to receive divident payments need to buy the shares today, as they will turn cum-dividend from tomorrow.

The payment of the interim dividend will be made on or before April 24, Wipro said. Meanwhile, the company also said that it will collaborate with University of South Carolina and Indian Institute of Technology Patna to advance artificial intelligence-led innovation.

Indian Gas Exchange (IGX) has announced that Oil and Natural Gas Corporation has joined IGX as a proprietary member. This association became possible after the Ministry of Power and Natural Gas (MoPNG) order of August 2021, allowing domestic gas to be traded on the Exchange platform.

IGX, promoted by Indian Energy Exchange (IEX) and National Stock Exchange (NSE), currently offers six delivery-based contracts for trading in gas including Day Ahead, Daily, Weekday, Weekly, Fortnightly and Monthly through five designated physical hubs including Dahej, Hazira, Dabhol, Jaigarh and KG Basin.

Dr Reddy's Laboratories has entered into an agreement with Novartis AG to acquire the cardiovascular brand Cidmus in India for $61 million. Cidmus is indicated for heart failure patients with reduced ejection fraction.

The board of Vascon Engineers has approved the availing of term loan facility of ₹30 crore from Aditya Birla Finance Limited at 13 per cent rate of interest. The aforesaid facility will be utilised to prepay the existing loan of ₹24.33 crore from JM Financial Credit Solutions Ltd having 17.20 per cent rate of interest and balance will be utilised for completion of the project 'Vascon Good Life' and other project expenses.

Jubilant Pharmova has entered into a share purchase agreement, and share subscription and shareholders agreement for acquiring equity and preference shares of SPV Laboratories Private Limited (Greencure). The aggregate cost of acquisition is ₹8.75 crore for 25.21 per cent stake.

Lupin has signed a definitive agreement with Anglo-French Drugs & Industries Limited for acquiring a portfolio of brands (including all rights and interests associated with such products), to strengthen the company’s presence in vitamins, minerals & supplements, and CNS segments.

GOCL Corporation has received a notice of demand of ₹45.72 crore from the Income Tax Department in connection with joint development agreement (JDA) in respect of the land situated at Kukatpally, Hyderabad. This pertains to assessment year 2013-14. The Department is considering the JDA as transfer of property. The company is of the view that the aforesaid notice is not tenable in law. The necessary actions against the said notice are being taken by the company.

GHCL has completed the divestment of its home textile business to Indo Count Industries Limited effective April 2, after obtaining all relevant regulatory and shareholders' approvals. The total consideration for divestment of the home textiles business has been calculated at ₹608.30 crore (subject to validation of customary closing date adjustment of working capital in terms of the definitive agreements).

RMC Switchgears has developed and started the manufacturing of gas meter shells which are being supplied to Genus Power Infrastructures with a long term agreement. The current capacity is up to 20,000 shells per month which will be increased to 50,000 shells per month in the coming months.

Published on April 04, 2022
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