Markets

Stocks that will see action today

K. S. Badri Narayanan | | Updated on: Mar 24, 2022

Buzzing stocks: Kotak Mahindra Bank, ICICI Bank, CreditAccess, Nelco, Zomato, L&T Finance Holdings, Triveni Turbine, GPT Infraprojects, CSB Bank, Poddar Pigments

Kotak Mahindra Bank

Shares of Kotak Mahindra Bank will remain in focus on reports that Canadian Pension Fund plans to offload four crore shares shares or 2.02 per cent stake via block deals. According to reports, the shares have been put on the block in the price band of ₹1,681.26-1,769.75. The pension fund held 6.37 per cent stake in the Kotak Mahindra Bank at the end of December 2021 quarter.

ICICI BANK

RBI has approved SBI Funds Management and other SBI group Entities to increase stake up to 9.99 per cent in the ICICI Bank. At the end of the December quarter, SBI Mutual Fund had 5.72 per cent stake in ICICI Bank.

Zomato

Zomato has announced the dissolution of its step-down subsidiary Zomato Canada Inc. In a disclosure to the stock exchanges, the online food delivery service provider said the Canadian arm was not a "material subsidiary" and hence, its closure would not affect the overall turnover or revenue of the Gurugram-based company.

L&T Finance Holdings

Its promoter Larsen & Toubro has acquired 2,12,17,957 equity shares in the company via open market transactions, at an average price of ₹83.52 per share, the NBFC said in a disclosure to the stock exchanges.

Triveni Turbine

Triveni Turbine's subsidiary Triveni Turbines DMCC to acquire 70 per cent stake in South African Company TSE Engineering for 11.9 million South African Rand. The subsidiary is engaged in high precision engineering repairs and servicing of machinery in sugar and other industrial plants in the South African Development Community region. With the acquisition of these shares, TSE will become a step down subsidiary of Triveni Turbine Ltd.

CreditAccess Grameen

The board of CreditAccess Grameen has decided to raise ₹1,500 crore through public issue of non-convertible debentures (NCDs) in domestic market in different tranches.

CSB Bank

RBI has approved the appointment of Pralay Mondal as interim Managing Director and CEO of CSB Bank. The appointment will be for a period of three months with effect from April 1, 2022, or till the appointment of a regular Managing Director and CEO in the bank, whichever is earlier.

Nelco

Nelco has announced a strategic cooperation agreement with Omnispace. The tie-up is to enable and distribute 5G non-terrestrial network (NTN), direct-to-device satellite Service. Nelco provides satellite communication (Satcom) services to enterprise customers across many industry segments, including aero IFC and maritime communication. This agreement with Omnispace will focus on enabling the use of 5G direct-to-device communications using Omnispace’s global NGSO satellite network across various market segments.

Poddar Pigments

Poddar Pigments has started off commercial production at its newly set-up manufacturing facility at Greater Sitapura Industrial Park, Jaipur. The unit has been set up to manufacture additive and colour masterbatches and engineering plastic compounds and the total installed capacity will get enhanced from 14,400 tpa to 18,000 tpa for the company.

GPT Infraprojects

A joint venture in which GPT Infraprojects holds 51 per cent control has bagged a ₹118-crore order..

Sheetal Cool Products Limited

The board of Sheetal Cool Products Limited has approved the migration of company from BSE SME Platform to the Main Board of BSE Limited and Main Board of National Stock Exchange of India Ltd.

Published on March 24, 2022
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