Markets

Stocks that will see action today (March 15)

Badrinarayanan K S 5367 | Updated on: Mar 15, 2022
FILE PHOTO

FILE PHOTO | Photo Credit: HEMANSHI KAMANI

Buzzing stocks: Reliance Ind, Strides Pharma, Power Mech Projects, Persistent Systems, Avantel, Macrotech

Reliance Industries has announced the acquisition of assets of Lithium Werks for $61 million, as it builds technology and material wherewithal for its new energy foray. Lithium Werks is a cobalt-free lithium battery technology company. Reliance New Energy Ltd, a wholly-owned subsidiary of Reliance Industries Ltd, has signed definitive agreements to acquire substantially all of the assets of Lithium Werks BV for a total transaction value of $61 million including funding for future growth,: the company said in a statement.

Strides Pharma Science Ltd on Monday said its promoters have revised downwards their intent to subscribe equity warrants to 20 lakh from an earlier overall commitment to subscribe 40 lakh warrants. In a regulatory filing, the company said its board of directors has approved the revised proposal of the promoters "to subscribe up to two million equity warrants at ₹442 per warrant, which is higher than the floor price arrived at" in terms of SEBI ICDR regulations.

Power Mech Projects has bagged orders worth ₹2,120 crore under the Jal Jeevan Mission program, a company statement said on Monday. The company has won the new orders under the Phase-III of the Jal Jeevan Mission covering 2,120 villages in Pratapgarh, Fatehpur, and Meerut districts of Uttar Pradesh, the statement said.

Persistent Systems has entered into an agreement to acquire Princeton, New Jersey-based MediaAgility. The Company provides cloud-native application development and modernization, analytics and AI, cloud engineering, migrations, and managed services to its' 35+ enterprise service clients across the globe.

Avantel Limited has received the Supply order for the supply of Loco devices for implementation of RTIS phase – 2 (Real Time Train Information system) for an amount of ₹125.68 crore exclusive of applicable taxes.

Macrotech Developers Ltd's wholly-owned subsidiary, Lodha Developers International Limited, Mauritius, had given notice to Singapore Stock Exchange regarding confirmation of redemption of Notes for a principal amount of $170,000,000 at a redemption price of 100.25 per cent of the principal amount of the Notes plus accrued and unpaid interest. The company has redeemed Notes of the principal amount of $170,000,000. The Redeemed Notes shall be canceled and delisted from the Singapore Exchange Securities Trading Limited. The balanced Notes of $55,000,000 continue to be listed on the Singapore Exchange Securities Trading Limited.

HCP Plastene Bulkpack has approved the terms and conditions of the Rights issue. A total number of Equity Issue of up to 4.41 lakh fully paid-up equity shares of Rs 10 each for an amount aggregating to ₹26.46 crore. Issue price has been fixed as ₹600 a a share.

Published on March 15, 2022
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