Buzzing stocks. Stocks that will see action on January 23, 2023

India Grid Trust has signed share purchase agreement for acquisition of 100 per cent shareholding and economic interest, in one or more tranches, in Khargone Transmission Limited from Sterlite Power Transmission Limited (one of the Sponsor of IndiGrid). The completion of acquisition would depend upon receipt of unitholders’ consent, regulatory and other relevant approvals as well as completion of contractual obligations. The acquisition of aforesaid power transmission asset is in line with the IndiGrid investment strategy as provided in the Trust Deed with a focus to ensure stable distribution to unitholders by owning assets with long-term contracts.

YES Bank Limited had written down Additional Tier-1 Bonds (“AT-1 Bonds”) aggregating to ₹8,415 crore. Multiple writ petition(s) were filed before the Bombay High Court challenging the write down of AT-1 bonds. Basis legal advice, the bank is in the process of preferring an appeal before the Supreme Court of India.

Camlin Fine Sciences Limited has announced that the commercial production at its Composite Vanillin manufacturing unit situated at Dahej SEZ, Gujarat, has been successfully commenced from Sunday.

VIDA, Powered by Hero, the emerging mobility brand of Hero MotoCorp has commenced customer deliveries of the VIDA V1 scooter in Jaipur. Close on the heels of Bengaluru, Jaipur is the second city where customer deliveries of the VIDA V1 have commenced. The first customers in the city were delivered the scooter from VIDA’s ‘Experience Center’.

Equippp Social Impact Technologies Limited (Formerly known as Proseed India Limited) has entered into an Memorandum of Understanding (MoU) with Social Audit Network India, (SAN-India), Chennai, Tamil Nadu. The MoU is to provide tech tools especially Equippp ix tool to SAN India for a period of two years on such mutually agreed terms.

Lithoz GmbH, world market and technology leader in ceramic 3D printers and materials, has announced its sales partnership agreement with Wendt (India) Ltd, strategically extending operations to the subcontinent’s fast growing 3D printing market. The cooperation with WIL, who are internationally reputed in the field of super abrasive grinding wheels and machines, will enable both companies to further expand and develop their business in India.

DCM Nouvelle Specialty Chemicals Ltd, subsidiary of DCM Nouvelle Limited, has performed Bhoomi Poojan for construction of its new Chemical plant at the proposed site at Industrial Township DMIC Vikram Udhyogpuri Ltd, Village Narvar, Ujjain, Madhya Pradesh. In this phase, DCMSCL will start design & construction of its Chemical Plant along with R&D Lab.

The board of Lyka Labs Ltd at its meeting held on January 21, 2023 has approved the raising of funds upto ₹100 crore by issuing, offering and allotting securities of the company to Ipca Laboratories Limited by way of preferential issue. The board approved allotment of upto 20 lakh equity shares for cash at ₹139.50 a share and up to 50 lakh convertible warrants with right to the warrant holder to apply for and be allotted one equity share for each warrants within period of 18 months from the date of allotment of warrants at the price of ₹139.50 a warrant.

Shreyas Shipping and Logistics Ltd has signed a Memorandum of Agreement (MOA) on 20 January, 2023 for sale of one vessel, M.V. SSL Kochi.

Trent Ltd has executed a Joint Venture Agreement with MAS Amity Pte. Ltd. to set up an entity in India for jointly developing a business of intimate wear and other apparel related products. Over time, Trent and MAS would pool their domain expertise to undertake design, development and manufacturing of a range of intimate wear and other apparel products. Initially, the joint venture would facilitate design and sourcing of related products.

The acquisition of IDFC Asset Management Company by the Bandhan Financial Holdings-led consortium is likely to be concluded this month with the payment of ₹4,500 crore and re-branding of the company and mutual fund as Bandhan Asset Management Company Ltd and Bandhan Mutual Fund is also expected within January.

Reliance Retail, arm of Reliance Industries, has acquired Telangana and Andhra Pradesh-based footwear and apparel retailer V Retail Pvt Ltd, which operates a retail chain under the brand name ‘Centro Style’. V Retail operates 32 Centro stores in the markets of Andhra Pradesh, Telangana and Karnataka. 

Drug maker Lupin is recalling 16,056 bottles of Rifampin Capsules, used in the treatment of all forms of tuberculosis, in the US market due to a manufacturing issue, according to the US Food and Drug Administration.

Debt-laden tea maker McLeod Russel on Saturday said its board has approved the execution of an agreement with Carbon Resources to negotiate and evaluate a mutually agreeable mechanism to offer a “one-time settlement” of its debt with the lenders.

Adani group is planning to spin off businesses like hydrogen, airports and data centres between 2025 and 2028 after they achieve a certain investment profile, it’s Chief Financial Officer Jugeshinder Singh said. Adani Enterprises Ltd, which is looking to raise ₹20,000 crore in a follow-on share sale, is the business incubator for the group. Over the years, businesses such as ports, power and city gas were first incubated in AEL before being spun off or demerged into separate listed companies.

Results Calendar: Amber Enterprises India, Arvind Smartspaces, Avantel, Axis Bank, Bharat Bijlee, Bharat Road Network, Bharat Seats, Butterfly Gandhimathi Appliances, Canara Bank, Container Corporation Of India, Craftsman Automation, Dhampur Bio Organics, Eimco Elecon (India), Gland Pharma, Gravita India, HFCL, IDBI Bank, IIFL Securities, Jammu & Kashmir Bank, Jindal Drilling & Industries, Jindal Stainless (Hisar), Jindal Stainless, Karur Vysya Bank, KEI Industries, Khaitan Chemicals & Fertilizers, Maharashtra Seamless, NR Agarwal Industries, Omax Autos, Orbit Exports, Oriental Hotels, PNB Gilts, Poonawalla Fincorp, Rajratan Global Wire, Rattanindia Power, Route Mobile, Sagar Cements, Satin Creditcare Network, Selan Exploration Technology, Shoppers Stop, Steelcast, Supreme Petrochem, Syngene International, Tamilnad Mercantile Bank,Tata Communications, Thangamayil Jewellery, Tips Industries, Triveni Turbine and Zensar Technologies Limited

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