Stocks that will see action today

Reliance Industries

Reliance Retail Ventures Limited (RRVL), an arm of Reliance Industries, has acquired 89 per cent equity stake in Purple Panda Fashions Private Limited, which owns and operates intimate wear brand Clovia. RRVL made an investment of ₹950 crore in the company through a combination of secondary stake purchase and primary investment, according to an official statement.

Sintex Industries

Reliance Industries Limited jointly with Assets Care & Reconstruction Enterprise Limited has been duly approved by the 100 per cent CoC members under Section 30(4) of the Code as the successful resolution plan subject to approval of NCLT Ahmedabad. The Resolution Plan is proposed that existing share capital of the company should be reduced to Zero and the Company will be delisted from the stock exchanges i.e. BSE and NSE.

JSPL

Jindal Steel & Power (Mauritius), a wholly owned subsidiary of JSPL has prepaid a $357 million loan to its lenders. This prepayment will help clear the entire debt on JSPML. This loan had corporate guarantees from JSP India, which will also get released.

Over the past three years, JSP has been able to reduce its overseas debt from $1.8 billion to $130 million post this payment. The bulk of JSP's overseas debt now sits in its Australian subsidiary ($113mn). The Group plans to repay this loan by September 22. JSP Group's net debt has come down from a peak of ₹46,500 crore to ₹10,981 crore in December 2021.

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HDFC

HDFC subsidiary HDFC Capital Advisors Limited has entered into a share subscription agreement for acquisition of 3,90,666 equity shares of Loyalie IT-Solutions.

NBCC (India)

NBCC (India)has received a work order worth ₹500 crore from Administration of Union Territory of Ladakh, for providing comprehensive, design, engineering and project management consultant (PMC) services for various works.

Ruchi Soya Industries

The further public offering (FPO) issue committee of Ruchi Soya Industrieshas approved the price band as ₹615-650. The minimum bid lot should be 21 and in multiples of 21 equity shares thereafter. The FPO comprises equity shares of face value of ₹2 each aggregating to ₹4,300 crore.

The issue also includes a reservation of up to 10,000 equity shares for subscription by eligible employees. If such placement is completed, the follow-on size will be reduced. The issue will open on March 24 and close on March 28.

Wockhardt

Wockhardt has announced a collaboration with Serum Life Sciences UK Ltd, a subsidiary of the Serum Institute of India, one of the world's largest vaccine manufacturers to deliver a global vaccine programme. This collaboration will help create considerable number of employment opportunities along with creation of new sterile fill and finish facility in Wrexham, North Wales.

A profit sharing arrangement has been made between the two parties for this New Facility that will deliver an additional 150 million vaccine doses of multiple vaccines.

Strides Pharma Science

Akston Biosciences and Biolexis (a division of Stelis Biophara, which a subsidiary of Strides Pharma) have entered into a licensing, manufacturing and commercialisation agreement for Akston's AKS-452, a protein subunit Covid-19 vaccine. Under the agreement, Biolexis bagged the right to manufacture and commercialize AKS-452 (branded as AmbiVax-CTM) in India and over 130 countries in Asia, Latin America, and Africa largely covering the low-and-middle income countries (LMICs).

SMS Pharmaceuticals

SMS Pharmaceuticals has received non-exclusive license to manufacture and supply of nirmatrelvir through the Medicine Patent Pool (MPP). This is an oral Covid-19 medicine developed by Pfizer.

Jubilant Pharmova

Jubilant Pharmova through its subsidiary Jubilant Cadista Pharmaceuticals Inc has received abbreviated new drug application approval for Doxepin hydrochloride capsules. This is a generic version of Sinequan, used in anxiety, depression, and other target symptoms of psychoneurosis.

Spandana Sphoorty Financial Limite

The board of Spandana Sphoorty Financial Limited has approved the appointment of Shalabh Saxena as Additional Director with effect from March 19 and Managing Director and Chief Executive Officer of the company for five years. The board also approved the appointment of Ashish Damani as President and Chief Financial Officer of the company with effect from March 19.

IntraSoft Technologies Ltd

IntraSoft Technologies Ltd has filed draft papers for Rights Issue of equity shares. The company would be raising up to ₹50 crore via rights issue and the net proceeds will be used to fund business and growth initiatives of its its e-commerce subsidiary.

Pidilite Industries Limited

Madhumala Ventures Pvt Ltd, a wholly owned subsidiary of Pidilite Industries Limited, has agreed to make an investment not exceeding ₹3.78 crore in Kaarwan Eduventures Private Limited, engaged in the business of providing interactive and result oriented education making it a one-stop learning and upskilling platform for architects and designers.

Kopran

Kopran, which had raised funds amounting to ₹126.48 crore through preferential issue in January, has made investment aggregating to ₹100 crore in the equity share capital of Kopran Research Laboratories Limited, by way of subscription to the rights issue at ₹400 a share of KRLL.

Dodla Dairy

Dodla Dairy Ltd has executed a Business Transfer Agreement with Sri Krishna Milks Private Limited for acquisition of business as a "going concern" and on a slump Purchase basis for consideration of ₹50 crore on the terms and conditions more specifically defined in the agreement.

Sharika Enterprises

Sharika Enterprises Limited has received order from NTPC Ltd for installation, erection and commissioning of 200 KWp & 360KWp SPV Power Plant at NTPC Unchahar for ₹2.07 crore.

ESAB India

Colfax Corporation has announced that its board has declared: a pro rata distribution of 90 per cent of the outstanding common stock of ESAB Corporation to Colfax shareholders of record as of the close of business on March 22; and that the previously announced reverse stock split of all issued and outstanding shares of Colfax Common Stock will be effected at a one-for-three ratio following the distribution of the ESAB shares.

The distribution is expected to be payable after the market close on April 4. As a result of the distribution, Colfax shareholders will receive one share of ESAB common stock for every three shares of Colfax common stock they hold on the Record Date.

ESAB Corporation, a wholly owned subsidiary of Colfax Corporation, indirectly holds controls 1.13 crore, representing 73.72 per cent, of the total paid-up equity share capital of ESAB India Ltd.

Deccan Gold Mines

Deccan Gold Mines Limited has entered into a non-binding Memorandum of Understanding with Tally Ltd., Guernsey, Channel Islands, ("Tally" formerly known as Kolar Gold Ltd) to provide an exclusive period up to and including April 30 to enable DGML to complete due diligence and commercial negotiations and documentation to acquire Tally's interests in gold projects in Finland.

In October 2016, Tally and Mineral Exploration Network (Finland) Limited had set up Kalevala Gold Oy, Finland, as a Joint Venture to acquire and explore areas for gold in Central Finland.

Thermax

Thermax has concluded an order of ₹1,176 crore from an Indian public sector refinery to set up their Sulphur Recovery Block on LSTK basis. The Sulphur Recovery Block includes 2 x 240 TPD Sulphur Recovery Unit (SRU) along with Tail Gas Treatment Unit (TGTU), 690 TPH Amine Regeneration Unit (ARU), 200 TPH Sour Water Stripper - phenolic and 95 TPH Sour Water Stripper non-phenolic.

SJVN

SJVN, in a notice to the stock exchanges, said that it has secured 100 MW grid connected solar power project in Gujarat through tariff based competitive bidding conducted by Gujarat Urja Vikas Nigam. The project will generate 245.28 million units energy annually and the cumulative energy generation over a period of 25 years will be 6,132 million units.

Selan Exploration Technology

Selan Exploration Technology has informed the exchanges that Blackbuck Energy Investments will acquire a minimum of 31.92 lakh equity shares of the company (21 per cent of the voting share capital) and a maximum of 38.15 lakh shares (25.10 per cent stake), from promoters. These shares will be acquired by Blackbuck at around ₹200 a share.

EIH

The board ofEIH has approved sale of entire shareholding in its subsidiary EIH Flight Services, Mauritius, for MUR 325 million (about ₹55.2 crore).

Cerebra Integrated Technologies

Cerebra Integrated Technologieshas executed a Share Transfer Agreement with a potential purchaser from Dubai for transfer of its entire shareholding of 86.5 per cent in subsidiary Cerebra Middle East FZCO, Dubai. The company would like to focus on E waste management now being the core business of the company, it informed the exchanges and added that it plans to expand the core business.

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