Stocks that will see action on August 29, 2022

K. S. Badri Narayanan | Updated on: Aug 29, 2022

Buzzing stocks: Reliance, Tata Steel, Glenmark Pharma, Cipla, Aster DM Healthcare, Syngene, UltraTech Cement, Adani Total, GMR Power, RITES, NHPC, Jubilant Pharmova

The 45th Annual General Meeting of Reliance Industries will start at 2 pm on August 29. All eyes will be on his presentations that is expected from Chairman Mukesh Ambani and other members of the company’s board and subsidiaries.

Tata Steel has signed a Memorandum of Understanding with the Government of Punjab for setting up a 0.75 MnTPA long products steel plant with a scrap-based electric arc furnace (EAF).

Glenmark Pharmaceuticals, which had earlier announced regarding the US FDA inspection at it’s Goa facility from May 12-20, and issuance of Form-483 by US FDA with five observations, has received the US regulator’s a communication indicating the inspection classification as “Official Action Indicated” (OAI). The OAI classification implies interalia that the US FDA may withhold approval of any pending product applications or supplements filed from this facility till the outstanding observations are resolved.

Cipla has received six observations from the US FDA with some referencing to the the September 2019 inspection, for its Goa plant. There are no data integrity (DI) observations. The USFDA inspected company's Goa plant during August 16-26. The US health regulator inspected the facility in September 2019 and had issued a warning letter in February 2020.

UltraTech Cementhas commissioned cement capacity of 1.3 mtpa at Dalla Cement Works, Uttar Pradesh, resulting in increase in the unit's capacity to 1.8 mtpa. This is the first phase of capacity expansion announced in December 2020. With this commissioning, the company’s total cement manufacturing capacity in India now stands at 115.85 mtpa.

Adani Total Gas Ltd has incorporated two Wholly Owned Subsidiaries on August 26. Adani TotalEnergies Biomass Limited will be incorporated with an initial authorized share capital of Rs 1 Lakh and paid-up share capital of Rs 1 Lakh to, carry on the business of developing, establishing and operating Bio-Conversion Plants at various locations and to produce Compressed Bio-Gas (CBG) and supplemental products including organic manure and fertiliser in solid & liquid form and to do all necessary and incidental business activities. Adani TotalEnergies E-Mobility Ltd with an initial authorized share capital of Rs 1 Lakh willl carry on business of e-mobility areas like setting up EV stations directly and through its network of dealers.

The board of GMR Power and Urban Infra Limited will be held on September 1, 2022, to consider and approve raising of funds of up to Rs 3,000 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 subject to approval of shareholders and other regulatory and/or statutory approvals.

Syngene Internationalhas entered into an agreement for the acquisition of renewable power by acquiring up to 26 per cent equity stake in O2 Renewable Energy II Private Ltd.

Active Holdings Limited, Dubai, UAE, one of the subsidiaries of Aster DM Healthcare Limited, has executed on August 26, Area Development Agreement with GD Assist Limited, Bangladesh, whereby the Franchisor has agreed to grant rights to establish and operate pharmacies under the brand name "Aster Pharmacy" at sites located within the defined geographic areas in Bangladesh. The initial term of the agreement is 10 years starting from August 26.

Dhruv Consultancy Services Limitedhas received the Letter stating to award the consultancy assignment of "Independent Engineer Services for the Development of Access Controlled Six Lane (expandable to eight lane) Greenfield "Ganga Expressway" in JV with Artefact Projects Ltd, associate with Global Infra Solutions. Independent Engineer Services fee for the Project will be Rs 22.78 crore. The contract period will be of 60 months.

RITEShas secured a new order with joint venture partner for the redevelopment of the Kollam railway station for Rs 361.18 crore from Southern Railways. The share of RITES in the order is 51 per cent.

NHPCand the Himachal Pradesh Government have signed an implementation agreement for Dugar HE project. Both the parties signed a memorandum of understanding in September 2019 for the execution of the project.

Jubilant Draximage Inc, subsidiary of Jubilant Pharmova, has received the Establishment Inspection Report (EIR) with voluntary action indicated (VAI) status from the USFDA for its radiopharmaceuticals manufacturing facility in Montreal, Canada. The USFDA had conducted an inspection from June 6-10. With the receipt of the EIR, the inspection stands successfully closed.

The board of Titan Intech Ltdapproved the proposal to raise Long term fund by issue of 15 lakh preferential equity share warrants to promoters and 85 lakh preferential equity share warrants to non-promoters on preferential basis Rs 26 a share. The board has also approved proposal to borrow, up to Rs 100 crore that is exceeding the aggregate of paid-up share capital, free reserves and securities premium.

Published on August 29, 2022
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