Stocks that will see action today (August 25)

Badrinarayanan K S | | Updated on: Aug 25, 2022

Buzzing stocks: Bharti Airtel, Wipro, Adani Enterprises, TVS Motor, Lupin, Amara Raja Batteries, PSP Projects

Bharti Airtel: Reports indicate that SingTel plans to sell 3.3 per cent direct stake in Bharti Airtel to Bharti Telecom. According to a Reuters report, Singapore Telecommunications Ltd would sell a 3.3 per cent stake in Bharti Airtel to Bharti Telecom Ltd for an aggregate consideration of about S$2.25 billion ($1.61 billion) or Rs 12,800 crore. After the stake sale, Singtel's effective holding in Bharti Airtel will fall to 29.7 per cent, it added.

Wiprohas appointed Wagner Jesus as the Country Head and Managing Director for operations in Brazil. Jesus joined Wipro three years prior to taking the lead of the non-financial business cluster.

Adani Enterprises Ltd has incorporated two wholly-owned subsidiaries - Hirakund Natural Resources Ltd and Vindhya Mines and Minerals Ltd - for coal mining activities. Both the subsidiaries’ initial authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh.

TVS Motor Company has said it will acquire 48.27 per cent stake in Narain Karthikeyan's pre-owned two-wheeler start-up 'DriveX' for Rs 85.41 crore. According to TVS Motor, Nkars Mobility, with a turnover of Rs 8.68 crore, is engaged in leasing motorcycles and scooters and selling, trading and distributing pre-owned two-wheelers.

Lupin Ltd has entered into a Deed of Assignment with Boehringer Ingelheim International GmbH for the acquisition of brands Ondero and Ondero - Met (including trademark rights associated with the brands), which will enable the company to provide comprehensive and best-in-class treatment options for diabetes management. The cash consideration for the above acquisition will be Euro 26 million. The brands relate to medicines for the diabetic segment. Value creation is expected for Lupin's diabetic portfolio.

Amara Raja Batteries Ltd, as part of its strategic initiatives, has agreed to invest Rs 77 crore in securities of Log 9 Materials Scientific Pvt Ltd in one or more tranches and had executed the necessary transaction documents on August 24. The proposed investment, including investments, previously made, would entitle the company to a 15.38 per cent stake (on fully diluted basis) in Log 9.

PSP Projects Ltd has been awarded contracts worth Rs 247.35 crore (excluding GST) from the pre-cast and Government segments. With receipt of the above, the total order inflow for the financial year 2022-23 till date amounts to Rs 1,344.24 crore.

Published on August 25, 2022
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