Stocks that will see action on September 13, 2022

K. S. Badri Narayanan | Updated on: Sep 13, 2022

Buzzing stocks: TCS, Pidilite Industries, HDFC Life Insurance, Gujarat Apollo, Lords Chloro Alkali, Orient Credit

100X.VC, a leading seed stage CAT 1 VC Fund, has announced partnership with Pidilite Industries Ltd for the latter's venture arm called Pidilite Ventures. Pidilite Industries specialises in specialty chemicals such as adhesives, construction chemicals, and sealants, and a trusted consumer brand for the past 60+ years. As a part of the partnership, 100X.VC will collaborate with Pidilite Ventures to identify strategic investment opportunities for them. Pidilite Ventures will aim to mentor and guide innovative businesses that have synergies with Pidilite's 1core and adjacent businesses.

Abrdn Plc, earlier known as Standard Life, is expected to offload 4.3 crore shares in HDFC Life Insurance Company through block deal in the price band of ₹564-578.5 a share, according to media reports. Abrdn Plc is expected to raise up to $313 million through its share sale. Abrdn holds a 3.7 per cent stake in HDFC Life.

Tata Consultancy Serviceshas been chosen by C&S Wholesale Grocers, Inc, an industry leader in supply chain solutions and wholesale grocery supply in the United States, to build a new operations platform on Google Cloud to reduce the company's carbon footprint and enhance the customer experience. C&S has partnered with TCS to reimagine its operations platforms, including customer experience and grocery distribution.

Gujarat Apollo Industrieshas entered into a joint venture agreement with Belgium-based PFH BV to cater to the business of agricultural and farming machineries and components.

Oracle Credit Limited has made further investment in Credent Assets Management Services Private Limited (CAMS) by way of acquisition of 5,64,763 equity shares at a price of ₹48 a share aggregating to ₹2.71 crore from the existing equity shareholders of the CAMS, i.e., Aditya Vikram Kanoria and Mandeep Singh on September 9. Oracle Credit Limited has already 24.37 per cent invested in Credent Asset Management Services Private Limited on March 31.

Lords Chloro Alkali Ltdis in the process of expanding its existing Caustic Soda production capacity approximately by 42 per cent i.e. from 210 tpd to 300 at its plant in Alwar, Rajasthan. The commissioning of the aforementioned projects is expected by September 2023.

Published on September 13, 2022
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