Markets

Stocks that will see action today

K. S. Badri Narayanan | | Updated on: Apr 06, 2022

Buzzing stocks: Tata Steel, TCS, Tata Power, TVS Motor, Marico, U Gro Capital, Sejal Glass, Gufic Biosciences, Rain Industries, PSP Projects and Coastal Corp

Kansas Department of Labor (KDOL) has selected Tata Consultancy Services to build a modern, secure and web-based system for the State’s unemployment insurance program by transforming a legacy mainframe platform from the 1970s’ into a cloud-based system. The project seeks to improve the delivery of services to Kansas residents in the US.

Tata Steel India has achieved highest-ever annual crude steel production of 19.06 million tons in FY22, with a growth of 13 percent year-on-year (YoY) despite the Covid-19-induced disruptions early in the financial year. Tata Steel India deliveries increased by 6 percent YoY in the previous financial year, surpassing the previous best recorded in FY21.

Pursuant to the Letter of Intent (LOI) issued by the lenders of NRSS XXXVI Transmission Limited (NRSS XXXVI), Resurgent Power Ventures Pte Ltd (Resurgent) has completed the acquisition of NRSS XXXVI and settled the debt of the lender. Resurgent Power is co-sponsored by Tata Power and ICICI Bank. The transaction is part of stressed asset resolution process initiated by PTC India Financial Services Ltd (PFS), lender of NRSS XXXVI through a competitive bidding process.

Jio-bp and TVS Motor Company have agreed to explore the creation of a robust public electric vehicle (EV) charging infrastructure for two-wheelers and three-wheelers. Under the proposed partnership, the customers of TVS electric vehicles will get access to the widespread charging network of Jio-bp, which is also open to other vehicles.

Marico said that its domestic business stayed relatively firm in Q4 FY22, helped by “low single-digit” revenue growth. The company also reported that volumes were marginally positive on an exceptionally high base (25 per cent), leading to a double-digit volume growth on a 2-year CAGR basis. Parachute Coconut Oil volumes were marginally lower year-on-year, mainly due to a daunting base (29 per cent). Value added hair oils grew in “low single-digits” in value terms.

Gufic Biosciences Limited has received DCGI approval for Thymosin Alpha-1 (Immunocin α - A Brand of Gufic for the said drug) as an add-on therapy for the treatment of moderate-to-severe Covid-19 patients.

PSP Projects Ltd has filed a Commercial Arbitration Appeal before the Bombay High Court against the Impugned Order in Miscellaneous CMI Application passed by the District Court at Thane, whereby it has rejected company's application to prevent encashing and invoking of the bank guarantee. In the case, if the company does not succeed in getting the order of Injunction, BNMC may encash and invoke the guarantee of ₹6.73 crore, PSP Projects said.

U Gro Capital has filed prospectus with Registrar of Companies for public issue of rated, secured, senior, listed, transferable, redeemable and non-convertible debentures of face value of ₹1,000 each for an amount of ₹50 crore (Base Issue Size) with an option to retain over-subscription up to ₹50 crore. The company seeks to utilise the funds for onward lending, financing, repayment of interest and principal of existing borrowings and towards general corporate purposes.

The offer for sale by promoters of Sejal Glass opens today. Chandrakant Vallabhji Gogri’s plans to sell 9.10 lakh shares and fixed the floor price as ₹280 for the issue. The OFS will open for non-retail investors on Wednesday and for retail investors on Thursday.

Rain CM Carbon (Vizag) Limited, a wholly owned subsidiary of Rain Industries Limited, is engaged in the business of manufacture and sale of Calcined Petroleum Coke and co-generation of electricity through waste gases supported by emissions scrubbing at Visakhapatnam, Andhra Pradesh. RAIN has two Kilns for manufacture of CPC at this location. Due to a lower allocation of raw petroleum coke by DGFT for FY23 (RAIN is facing RPC shortfall to the tune of 40 per cent) than in the previous years, the lack of sufficient raw materials has now reached a level necessitating that the company shuts down one Kiln, until further notice.

Coastal Corporation has announced the trial production of its new plant — Unit III at Kakinada SEZ — on April 5 and is now fully ready to be commissioned. The Capex of ₹70 crore was invested by the Company in the Unit III. The new facility has production capacity of 35 MTPD. This facility is a completely integrated facility. The commercial production will be commenced in the next 10 to 15 days.

Published on April 06, 2022
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