Markets

Stocks that will see action today (Jan 10)

K. S. Badri Narayanan | | Updated on: Jan 10, 2022
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Buzzing stocks: Reliance Industries, TCS, Tata Steel, DMart, CSB Bank, Interglobe Aviation, Bharat Network, Equitas SFB, Gulshan Polyols, JBM Auto, Parenteral Drugs, Diamines and Chemicals, DIxon Tech, WS Ind, Zuari Agro, KEC International, 5Paise.com

Reliance Industrial Investments and Holdings Limited , a wholly-owned subsidiary of Reliance Industries, has entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37 per cent stake in Mandarin Oriental New York, one of the premium luxury hotels in New York City, for an equity consideration of approximately $98.15 million.

TCS : The Board of Directors of T ata Consu ltancy Services Ltd will consider a proposal for buyback of equity shares of the company, at its meeting to be held on January 12.

Tata Steel has announced that its stake in Medica TS Hospital Private Limited (a joint venture company) has increased from 26 per cent to 51 per cent on January 7, upon conversion of optionally convertible debentures. MTSHPL is an integral part of the Kalinganagar operations of the company in Odisha and services the employees and community in the area at large. The turnover of MTSHPL for the year ended March 31, 2021, was ₹34.98 crore.

DMart : Avenue Supermarts (DMart) The company has posted net profit of ₹552.56 crore for the period ended December 31, 2021, as against net profit of ₹446.97 crore for the period ended December 31, 2020. The company has reported total income of ₹9,243.72 crore (₹7,587.32 crore).

The Board of Directors of CSB Bank has considered and accepted the request of C VR Rajendran, Managing Director & CEO, for early retirement from the position to take care of his health. Rajendran will continue in the office till March 31.

SGX Nifty points a positive opening for Indian markets

Jyoti has done One Time Settlement (OTS) with Technology Development Board (TDB), New Delhi, for ₹1.35 crore and given six equal monthly instalments post-dated cheques starting from January 14 and signed agreement on January 7. The reason for settlement is that the company has taken part funding under indigenous technology for wind turbine project from TDB which was shelved long time back. Now the company offered for OTS amount for remaining balance amount which TDB has accepted. The company has sufficient liquidity to pay the same in six monthly instalments.

InterGlobe Aviation : Owing to the increasing number of Omicron infections, large numbers of IndiGo customers are changing their travel plans. In response to customer needs, IndiGo is waiving change fees and is offering free changes for all new and existing bookings made up to January 31, for flights up to March 31, 2022. With the reduced demand, it will also be selectively withdrawing some flights from service.

Solapur Tollways Private Limited (STPL) (Concessionaire for four-laning of Solapur-Maharashtra/Karnataka border section of NH-9 in Maharashtra), a wholly-owned subsidiary of Bharat Road Network Ltd, has received a notice from National Highways Authority of India for suspension of Concessionaire’s right to collect toll fees and other revenues for a period of six months from January 7.

The boards of directors of Equitas Small Finance Bank and Equitas Holdings have appointed SBI Capital Markets Ltd to advise on the strategic buyout and/or stake sale of ETPL (Equitas Technologies Privated Ltd). SBICAPS is in the process of undertaking a public auction process to identify potential buyer(s) and complete the transaction.

Weekly signals from futures and options market

Gulshan Polyols received, signed and executed a Long Term Offtake Agreement on January 8, to set up upcoming standalone dedicated ethanol plant of 250 KLPD at Industrial Growth Centre, Malia, District Goalpara-783101 in ethanol-deficit States for supply of Indigenous Denatured Anhydrous Ethanol to Oil Marketing Companies (OMCs) under Ethanol Blending Petroleum Programme to meet ethanol requirements for 20 per cent blending by year 2025 using com/maize and rice combination. The Long Term Offtake Agreement with OMCs is effective from January 15 and valid for 10 years, offered jointly by and executed with i.e IOCL, BPCL & HPCL for an annual offtake quantity of 3.96 crore litres per annum of ethanol.

JBM Electric Vehicles Private Limited , a wholly-owned subsidiary of JBM Auto Limited, has acquired 51 per cent equity shares in Parenteral Drugs JBM Green Energy Systems Private Ltd and JBM EV Industries Private Ltd on January 7. After the acquisition, JBM Green Energy Systems Private Limited and JBM EV Industries Private Limited have become indirect subsidiary companies of the Company.

The board of directors of Parenteral Drugs India has taken on record the change in terms of OTS (one time settlement) by way of circular resolution and unanimously accepted the increased amount ₹154 crore from the earlier amount of ₹135 crore sanctioned by the bank.

Diamines and Chemicals has received a letter from the State Level Environment Impact Assessment Authority (SEIAA) for Environment Clearance to set up expansion in manufacturing plant of 'Synthetic Organic Chemicals' at Vadodara.

Sical Logistics Ltd has announced that the Resolution Professional has received four resolution plans on January 8 (the last day for submission of Resolution plans as per deadline stipulated in latest Form-G) and the opening of sealed envelopes is scheduled for January 10. After review of these resolution plans, the Resolution Professional shall present compliant resolution plans to the Committee of Creditors for further consideration.

Dixon Technologies (India) had earlier announced regarding Joint Venture Agreement entered into between Dixon, Beetel Teletech Limited and Dixon Electro Appliances Private Limited (JV Company). Pursuant to the terms of the Joint Venture Agreement and share subscription agreement, both dated November 9, 2021, the JV Company shall be 51 per cent owned by Dixon and 49 per cent owned by Beetel. Consequently, the JV company allotted fresh equity shares to Dixon and Beetel on January 7.

The board of WS Industries India Ltd has approved the execution of sale deed and other related documents in relation to transfer of immovable property measuring 6.58 acres of land at Porur to its wholly-owned subsidiary, Vidagara Tech Park Private Limited, for a consideration of ₹141.80 crore.

Zuari Agro Chemicals Ltd's NPK B Plant has resumed its operations from January 7. The company had earlier announced the shutdown of NPK plants of the company at Zuarinagar, Goa.

KEC International Ltd , a global infrastructure EPC major, an RPG Group Company, has secured new orders for ₹1,025 crore across its various businesses.

Results calendar : 5Paisa.com, Ganga Paper, GI Engineering, GNA Axles, Thambbi Modern Spinning Mills and Vikas Lifecare will announce results for the quarter ended December 2021.

Published on January 10, 2022

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