Markets

Stocks that will see action on June 23, 2022

K. S. Badri Narayanan | | Updated on: Jun 23, 2022
istock

istock

Buzzing stocks: Allsec Tech, Quess Corp, Glenmark Pharma, Spandana Sphoorty, MosChip Tech, IRB Infra, BPCL, Imagicaaworld

The US FDA has issued Form 483 with six observations after an inspection at Glenmark Pharmaceuticals Limited's formulation manufacturing facility based out of Baddi, India between June 13-22, 2022. The company is committed to undertaking all necessary steps required to address their observations at the earliest, it said in a notice to the stock exchanges.

The Board of Directors of Allsec Technologies and Quess Corp in their respective meetings held on June 22 have approved the Scheme of Amalgamation which provides for the merger of Allsec into Quess (Scheme). The merger is subject to the approval of the respective shareholders and creditors of Quess and Allsec, Stock Exchanges, SEBI, the National Company Law Tribunal, and other regulatory authorities as may be required. Till the Scheme becomes effective, Quess and Allsec will continue to function independently.

Spandana Sphoorty Financial Ltd’s founder and managing director Padmaja Reddy, the company has resolved all differences with her by way of an in-principal agreement. In a notice to the stock exchanges, the company said that while Reddy has stepped down as MD, she will continue to be a substantial shareholder and board member.

MosChip Technologies, a semiconductor and system design services and IP company, has announced today that DVR Murthy has joined as "Vice President of Strategic Initiatives". DVR will lead the execution of MosChip's strategic programs for SerDes IP, ASIC platforms for RISC-V and Edge Artificial Intelligence (AI) and other emerging technologies. MosChip has over a twenty-year track record in designing semiconductor IP, products and SoCs for IoT, networking, storage and consumer applications.

IRB Infrastructure has received an arbitral award of ₹308 crore. In a notice to the exchanages, IRB Infrastructure said it has received 75 per cent of the arbitration award of ₹419 crore from IRB Pathankot Amritsar Toll Road Ltd, a special purpose vehicle of IRB InvIT Fund. The court has upheld the arbitral tribunal's order and directed the National Highways Authority of India to release 75 per cent of the arbitration award amount, i.e. ₹308 crore, to the company.

BPCL has received received an approval from the Ministry of Corporate Affairs for amalgamation of Bharat Oman Refineries with itself. The scheme of amalgamation will be made effective by both by filing copy of the order of the ministry with the jurisdictional registrar of companies.

Imagicaaworld Entertainment has completed its debt resolution successfully and inducted new promoters on the board of directors. The board has approved the allotment of shares and 0.01 per cent redeemable non-convertible preference shares on a preferential basis as part of the resolution plan agreed by lenders under the RBI Prudential Framework.

GPT Infraprojects has bagged an order worth ₹292 crore for execution of viaducts, major bridges, ROBs, supply of vehicle, site facilities & other allied works for Khurda Road-Bolangir New BG link.

Published on June 23, 2022
COMMENTS
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you