Buzzing stocks. Stocks that will see action today: January 8, 2024

ONGC said that it has successfully commenced “first oil” production the KG-DWN-98/2 Deepwater block in the KG basin off the Bay of Bengal coast. Flagship project is now on track with the completion of Phase 2 and the final phase will be completed by June 2024 to gradually ramp up to reach the planned peak production of 45,000 barrels of oil per day and 10 MMSCMD gas from the deep-water KG-DWN-98/2 block, it said in a notice to the exchanges.

GAIL (India) has invested ₹1 crore under its PANKH initiative in Nawgati, a pioneering fuel aggregator startup based in India. This partnership will play a pivotal role in advancing Nawgati’s key focus areas for the upcoming year such as digitising and enriching the complete fueling journey for pump operators, companies, and end-users, elevating the overall industry experience.

NBCC India Ltd has received Work Order amounting to ₹25.38 crore (approx.) from Lokpal of India. The order is for Interior and Fitout works for A-400 & A500 Lokpal of India at WTC Nauroji Nagar, New Delhi.

TVS Motor Company has entered into a Memorandum of Understanding (MoU) with Guidance, the Nodal Agency of Government of Tamil Nadu as part of the Tamil Nadu Global Investors Meet 2024, Chennai. TVSM proposes to invest ₹5,000 crore in 5 years and employment of 500 people by TVSM and facilitation and support by GoTN.

Reliance Power Ltd, for the purpose of debt settlement, has signed a Settlement Agreement with DBS Bank India (DBS), in settlement of the entire obligations with respect to its borrowings. Till the time the loans are settled in terms of this Agreement, no legal proceedings would be initiated in this connection, RPower said.

The Board of Dhunseri Ventures has approved the proposal to infuse funds upto $6.70 million in DVL USA Inc for its expansion plan. The approved investment shall be made from time to time as per the request of the said subsidiary.

Mahindra & Mahindra Ltd currently holds 4,66,815 Compulsory Convertible Preference Shares (CCPS) of Zoomcar India Private Limited aggregating to approximately 9.83 per cent of its share capital on fully diluted and converted basis. The CCPS of Zoomcar India held by the Company were to be exchanged for shares in Zoomcar Inc. The Company has received an intimation from Zoomcar, Inc. about completion of Merger between Zoomcar. Innovative International Acquisition Corp., and others. Pursuant to the merger, IOAC has been renamed as Zoomcar Holdings, Inc.

Prime Fresh has entered into an arrangement with ITC for collaboration/Business Development to strengthen each other’s Fruits, vegetables & frozen foods Distribution, sales and marketing arrangements.

The QIB committee of Shyam Metalics and Energy Ltd has approved the issue and allotment of 2.40 crore shares to 38 qualified institutional buyers at ₹576 a share, aggregating to ₹1,385.34 crore.

Cipla (EU) Ltd, wholly owned subsidiary of Cipla Ltd in UK, has entered into a joint venture agreement with Kemwell Biopharma UK Ltd and MNI Ventures, Mauritius, for incorporation of a joint venture company in the US. The JV entity is being incorporated with an objective of commercialising novel cell therapy products in the US, Japan and EU region.

TVS Holdings Ltd has acquired an additional stake of 11.66 per cent in Emerald Haven Realty Limited, subsidiary company, by way of purchase of shares from an existing shareholder. It purchased 2,97,79,024 shares of ₹10 each at ₹15 a share amounting to ₹44.67 crore. EHRL is engaged in the business of real estate development and construction.

Dynamatic Technologies has completed the sale of wind farm lands measuring 357.86 acres, including building, situated at Varapatti Village, Sulur Taluk, Coimbatore, in favour of Tamil Nadu Industrial Development Corporation Ltd for setting up of Southern Defence Industrial Corridor for a compensation of ₹107.10 crore. Additionally, the company has retained 87 acres of land having strategic value for future development.

Insurance regulator IRDAI has granted license to arm Narayana Hrudayalaya to carry on health insurance business.

Sansera Engineering has made a total investment of ₹19.54 crore (26 per cent) in CleanMax Enviro Energy Solutions Private Ltd. With this investment, the company will be using approximately 70 per cent renewable energy in its Bangalore (6.6 MW Wind and 6 MW Solar) and Pune Plants (5.7 MW Solar).

Raminfo Ltd has initiated a collaborative venture with local partners in Rajasthan to venture into the domains of Emerging Tech, Health Care, Energy and Animal Husbandry, etc., as a consequential step in this strategic direction, the company has acquired a 29 per cent stake in Modern MVUS Services Private Limited.

Frontier Springs Ltd, manufacturer and supply of Coil Springs to Indian Railways for more than 40 years, has announced the award of a significant contract valued at approximately ₹52.20 crore. This order, a milestone in the company’s hist,ory, involves the supply of 894 sets of air springs.

The board of Shree Rajasthan Syntex has approved to increase in authorised share capital of the company up to ₹34.50 crore by increasing capital by ₹2.50 crore and consequent alteration in the capital Clause of the Memorandum of Association. The board also approved the fundraising via issuance of equity shares of the company through Preferential allotment of up to 1,43,10,000 shares.

Bannari Amman Spinning Mills Ltd has entered into Memorandum of Understanding with SP Apparels Ltd for Sale/Transfer of its Garment unit located at Palladam Hi- Tech Weaving Park, Palladam, Tamil Nadu and Sale of 6.43 Acres of Land with Building situated at Site No. R-44, SIPCOT, Perundurai.

Jupiter Wagons, a provider of comprehensive mobility solutions encompassing rail, road and marine transportation has announced the receipt of a significant contract from one of the leading automobile manufacturers for the manufacturing and supply of 4 rakes of Double Decker Automobile Carrier Wagons worth around ₹100 crore.

The Board of Regency Fincorp Ltd has approved the issuance of upto 78,94,732 shares on preferential basis to the Promoters/Non-Promotersat ₹14.25 a share.

IndiGo has commenced operations from the newly inaugurated Maharishi Valmiki International Airport in Ayodhya, Uttar Pradesh. The first pair of flights will operate between Delhi and Ayodhya on January 6, 2024. This will be followed by daily operations between the cities w.e.f. January 10.

JK Maxx Paints Ltd (erstwhile JK Paints and Coatings Limited), wholly owned subsidiary of the company, has at third tranche invested an amount of ₹53.31 crore towards the acquisition of balance 20 per cent equity shares of Acro Paints Ltd. Consequent upon the present acquisition, JK Maxx Paints has acquired 100 per cent share capital of APL,

The Board of Pharmaids Pharmaceuticals has approved the acquisition of up to 36,75,959 shares of Adita Bio Sys Private Ltd held by multiple existing shareholders of the company, representing up to 99.94 per cent of the paid-up equity capital of the target Company, by way of share swap. The board approved issue of equity shares upto 85,68,949 equity shares on Preferential Basis for Consideration other than Cash to the Individual shareholders of Adita Bio Sys Private Limited.

Real Growth Corporation Ltd has signed one time settlement (OTS) for loan of the company. The same has been approved by Punjab National Bank.

Sai Silks (Kalamandir) Ltd has launched a new store under the format of Kanchipuram Varamahalakshmi Silks at Salem, Tamil Nadu.

Aerpace Supercars Private Limited has allotted shares (51 per cent) to Aerpace Industries Ltd for an aggregate consideration of ₹8 crore.

The Board of Munoth Capital has approved the issue, offer and allot 1,75,000 shares of face value of ₹5 at ₹75 each, aggregating of ₹1.31 crore to the Promoter Group category on such terms and condition as may be determined by the Board.

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