Stocks that will see action today (March 17)

K. S. Badri Narayanan | | Updated on: Mar 17, 2022

26/08/2019 MUMBAI: A view of the BSE building in Mumbai, Monday, August 26, 2019. The BSE Sensex jumped over 700 points afternoon session. Photo. Paul Noronha | Photo Credit: PAUL NORONHA

Buzzing stocks: India Cements, Jindaly Poly Films, JSK Energy, Ashok Leyland, M&M, PNC Infratech, Godrej Consumer, Om Infra, Yasho Ind

India Cements has launched two new cement products viz., Conkrete Super King (CSK) and Halo Super King (HSK). CSK is a novel product with a one-stop solution to all concrete needs from foundation to roof. HSK is a product exclusively designed for pre-cast hollow blocks. HSK enables quit setting, enhanced structural strength, and stability, catering to all needs from AAC to Hollow blocks.

Jindal Poly Films has signed an agreement for the sale of a minority stake in its packaging films business to Brookfield Asset Management. The AMC through its Special Investments program, and together with institutional partners, has agreed to make an ₹2,000 crore investment in the company. The transaction will result in JPFL carving out its packaging films business, which generates approximately 85 per cent of its total revenue, into a wholly-owned subsidiary in which BSI will hold a minority stake. JPFL will continue to own its non-woven business unit and other corporate assets.

JSW Energy on Wednesday said JSW Renew Energy (Kar) Ltd, JSW Renewable Energy (Dolvi) Ltd, JSW Energy (Kutehr) Ltd, and JSW Hydro Energy Ltd have become wholly-owned subsidiaries of JSW Neo Energy Ltd (JSWNEL). To streamline the renewable portfolio and set up a holding structure to unlock and enhance the shareholders' value, the board at its meeting held on November 25, 2021, had approved the re-organisation of the company's green (renewable) business and grey (thermal) business

The board of Hinduja Leyland Finance Limited, a Material Subsidiary of Ashok Leyland Ltd, has considered the proposal of merger of the company - Hinduja Leyland Finance Limited (Company) into NXTDIGITAL Limited (NDL). The proposed merger of our company will result in shareholders of our company receiving shares of NDL as per share swap valuation and shall be subject to all applicable regulatory and shareholder approvals.

Mahindra & Mahindra Ltd on Wednesday said it will increase its stake in Carnot Technologies Pvt Ltd to 52.69 per cent with an investment of around Rs 14 crore. M&M currently holds 15.60 per cent of the equity share capital of Carnot Technologies, which provides products and services related to internet-connected devices for monitoring the performance of vehicles and equipment, the company said in a regulatory filing.

PNC Infratech has announced the receipt of ₹82.68 crore towards bonus for early completion of one of its EPC projects - Development of Purvanchal Expressway (Package V) from Sansarpur to Gobindpur in Uttar Pradesh - from Uttar PradeshExpressways Industrial Development Authority. The project has been completed on October 26, 2021, one hundred thirty-two (132) days ahead of the Scheduled Completion Date. Accordingly, a bonus at 0.04 per cent of the contract price (₹1,566 crore), for each day of early completion, is received by the Company in terms of the contract agreement.

Godrej Consumer Products Limited has completed the divestment of its entire stake (including the convertible debentures) in Bhabani Blunt Hair Dressing Private Limited, and the right to use the "BBLUNT" brand name to manufacture and sell BBLUNT branded products.

Om Infra has received a letter of award for "work of Nokha Water Supply Project to provide functional household tap connection including 10 years O&M under Jal Jeevan Mission in Bikaner for an estimated contract value of ₹609 crore (Om Infra Share in the joint venture is 50 per cent). It also received an order for Water Supply Project at Khajuwala constituency of Bikaner including 10 years O&M for an estimated contract value of Rs 370 crore (Om Infra share in joint venture is 59 per cent).

The board of Yasho Industries Limited has approved the capital expenditure for a new greenfield project for the capacity of 15,500 tonne per annum at Pakhajan, Bharuch. The company's existing capacity is 11,000 tpa located at Vapi, Gujrat, and the capacity utilisation is above 90 per cent. The estimated capital expenditure towards the new project is ₹350 crore (net of taxes). The Company intends to finance the project through a combination of internal accrual and/or external funding, including seeking financial support from the Banks, Capital raised through preferential issue.

Inflame Appliances Limited has announced the most prestigious first trial order for 3100 chimneys from Tuareg Marketing Private Ltd (Brand Name: INALSA), which is a group company of Taurus (Spanish group) of adding one more milestone to expansion.

Published on March 17, 2022
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