Stocks that will see action on August 22

One 97 Communications (Paytm) founder Vijay Shekhar Sharma received approval from shareholders to continue as the CEO and MD of the digital payments firm with 99.6 per cent of shareholders voting in favour of him in the 22nd Annual General Meeting held on Friday. Despite a host of proxy advisory firms advising shareholders to reject his reappointment, shareholders reposed faith on him.

Larsen & Toubro (L&T), an Indian multinational engaged in EPC Projects, hi-tech manufacturing and services, has announced the commissioning of a green hydrogen plant at its AM Naik Heavy Engineering Complex in Hazira, Gujarat. The production of green hydrogen based on an alkaline electrolysis process has begun. The plant will produce 45 Kg of GH daily, which will be used for captive consumption in the company's Hazira manufacturing complex.

According to media reports, billionaire Gautam Adani-controlled Adani Group has received capital markets regulator SEBI’s nod for the $3.8-billion open offer forAmbuja Cements and ACC. The Adani Group has made offers of ₹385 per share for Ambuja Cements and ₹2,300 a share for ACC. The company is expected to launch open offer to the shareholders of ACC and Ambuja Cements from August 26, reports suggest.

Shilpa Medicare Ltd via its wholly owned subsidiary, Shilpa Biologicals Pvt Ltd (SBPL), has successfully completed the phase 3 human clinical studies of its first biosimilar, the 100mg/ml high concentration (HC) adalimumab biosimilar and has submitted the dossier to the CDSCO for review and grant of marketing / manufacturing license—a first in India. The drug is expected to cater to the fast-growing Rheumatoid Arthritis, Plaque Psoriasis, JIA, Psoriatic Arthritis, Ankylosing Spondylitis, Ulcerative Colitis, Crohns disease, HS and Uveitis markets.

AstraZeneca Pharma India has received import and market permission in Form CT-20, the subsequent new drug approval, from the Drugs Controller General of India for Olaparib film-coated tablets. Olaparib film-coated tablets of 100mg and 150mg can be indicated as a monotherapy for the adjuvant treatment of adult patients with BRCA-mutated HER2- negative high risk early breast cancer who have previously been treated with neoadjuvant or adjuvant chemotherapy.

Greenlam Industries Ltd, which had earlier announced purchase of laminate manufacturing facility situated at Oran, Prantij, Sabarkantha, Gujarat, has said manufacturing facility (currently having installed capacity of 3.4 million laminate sheet per annum) has commenced commercial production from August 20. The company said the unit has a potential to generate revenue of ₹150 crore per annum on full capacity utilisation. With this the present installed capacity of the company for laminates has become 19.02 million laminate sheets per annum.

Brooks Steriscience Limited, subsidiary of Brooks Laboratories Limited, has received approval for Meropenem Injection 500mg per vial and one gram per vial (the product) from the United States Food & Drug Administration (USFDA). The product is generic equivalent to the Merrem Injection of Pfizer Inc. This approval from USFDA marks Brooks' foray into the US, which is the largest generic market in the World.

Tejas Networkshas acquired the remaining 93,571 equity shares in Saankhya Labs at Rs 454.19 a share by paying Rs 4.25 crore through secondary purchase. With this, the company has acquired the entire 62,51,496 equity shares or 64.4 percent stake in Saankhya, for Rs 283.94 crore, on a fully diluted basis, it said in a notice to the stock exchanges.

GACL-NALCO Alkalies & Chemicals Private Limited, a joint centure company between Gujarat Alkalies and Chemicals Ltd(GACL) andNational Aluminium Company Ltdhad formed to set up 800 TPD Caustic Soda Plant along with 130 MW Captive Power Plant at Dahej. GNAL has dispatched 1,300 DMT of Caustic Soda to National Aluminium Company Limited through rail on August 20 from Ankleshwar.

The board of Paras Defence and Space Technologies Ltd has approved investment by way of subscription to the equity shares in one or more tranches up to a sum of ₹7 crore to be offered by Ayatti Innovative Private Limited at a price to be determined in accordance with the relevant provision of Companies Act. Pursuant to this, the company would be holding approximately 58 per cent stake in AIPL, which is currently engaged in the business of manufacturing of structural metal products mainly for Railway Coaches and has application in other sectors also.

Indrayani Biotech has informed the exchanges that the food and hospitality division of the company has bagged an order from Indian Institute of Technology, Roorkee. The contract is worth of ₹12 crore per annum. The scope of work includes preparation and supply of food items to five of the eight different messes for one year from August 20.

Kirloskar Electric Companyhas announced the termination of Joint Venture Agreement dated October 24, 2019 with Electrodrive Powertrain Solutions Private Limited. The parties mutually agreed to terminate the JV Agreement as per the termination clause of the agreement.

The board of Tulsyan NEC Limitedhas approved and accepted the terms and conditions of the OTS proposal received from the Union Bank of India. Due to continued losses and huge interest costs, the debt of the company had grown beyond it means to service the debt at its originally accepted terms and conditions. The situation required a drastic reduction in the debt size by way of repayment or write off.

Savera Industries Ltdhas executed Sale Deeds, effecting the sale of the company's property measuring an extent of one acre along with dilapidated building of 10,300 sq.fl. at Coimbatore, Tamil Nadu for ₹10.50 crore. The buyer is a third-party buyer who does not belong to the Promoter / Promoter Group Companies and the transaction does not fall under the ambit of Related Party Transactions.

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