Markets

Stocks that will see action on June 02

Badrinarayanan K S 5367 | | Updated on: Jun 02, 2022

Buzzing stocks: Reliance Industries, Religare, Vedanta, REC, GR Infraprojects, Balaji Amines, Delta Corp, Knowledge Marine and Mishtann Foods

Reliance Brands Ltd (RBL), the retail brand licensing arm of Reliance Industries, will acquire a 40 per cent stake in Italy-based Plastic Legno's toy manufacturing business in India to strengthen its toy production in the country. RBL, which already has British toy retailer Hamleys and homegrown brand Rowan under its belt, in a statement said it has entered into a joint venture with Plastic Legno SPA through the acquisition of a 40 per cent stake in its India business for an undisclosed sum.

State-owned REC Ltd on Wednesday said it has handed over Rajgarh Transmission Limited (RTL) to GR Infraprojects Ltd. RTL is a special purpose vehicle (SPV) which was formed for the construction of transmission projects in Rajgarh and Madhya Pradesh, REC said in a statement.

Religare Enterprises Ltd (REL) on Wednesday said lenders to Religare Finvest Limited (RFL) have agreed to consider a one-time settlement (OTS) offer proposed by its debt-ridden subsidiary. Religare has resolved many legacy issues left over by its erstwhile promoters, including settlement with SEBI and becoming debt free, the non-banking financial company (NBFC) said in a statement.

Vedanta Ltd on Wednesday said a committee of its directors will meet on June 4 to consider raising up to ₹4,100 crore via debentures.

Balaji Amines has informed the stock exchanges that the board of directors of its material subsidiary, Balaji Speciality Chemicals Ltd, has approved fund raising of up to ₹250 crore by way of an initial public offering and an offer of sale of equity shares by certain existing and eligible shareholders of the company. The company, as a shareholder, will consider and finalise its participation in the offer of BSCL, it further said.

Delta Corp said that its subsidiary Delta Pleasure Cruise Company has commenced management of operations of the casino at the hotel "The Zuri White Sands Goa, Resort and Casino". With the commencement of operations of this casino by DPCCPL (subsidiary), the company and its subsidiaries now operate five casinos in Goa.

Knowledge Marine & Engineering Works has received a contract from Dredging Corporation of India, for ‘capital dredging’ at Mangrol Fishing Harbour Phase III Part B, for a tenure of 12 months. The project cost is ₹67.85 crore.

Mishtann Foods has witnessed good response for Mishtann Pink Rock Salt and has bagged orders from major retail stores for 1700 tonnes. The supply of these orders will commence from July 2022.

Published on June 02, 2022
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