22 February 23
FII & DII DATA
FII Net SELL - 579.82cr
DII Net BUY - 371.56cr
24 February 2023
Stocks In Focus
Mahindra CIE Automotive
The automotive components supplier has recorded a massive 153% year-on-year growth in consolidated profit at Rs 195 crore for quarter ended December 2022, led by strong operating performance and exceptional gain. Consolidated revenue for the quarter at Rs 2,247 crore grew by 35% over a year-ago period. On the operating front, EBITDA increased by 62.2% YoY to Rs 292.4 crore with margin expansion of 221 bps for the quarter. Company has an exceptional gain of Rs 37.87 crore against loss of Rs 12.8 crore YoY.
Adani Power
CK Birla Group firm Orient Cement Ltd on Wednesday, February 22, said the non-binding memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) stands terminated. The company has accepted the position of APML and accordingly, the said non-binding MoU stands terminated, it said. Adani Power Maharashtra Ltd had entered into MoU with Orient Cement for facilitating bonafide use of land identified for exploring the possibility of establishing a cement grinding unit in Tiroda, Maharashtra.
Gujarat Gas
Raj Kumar (IAS, Chief Secretary, Government of Gujarat) is appointed as Chairman on the board of Gujarat Gas. The appointment of Raj Kumar has been made in view of the letter received from Energy & Petrochemicals Department, Government of Gujarat
HG Infra Engineering
The company on Wednesday announced that it has been declared as the Lowest Bidder for a railway project by Rail Vikas Nigam Ltd (RVNL). RVNL had given an estimated cost of Rs 535.2 crore, while HG Infra’s bid came in at Rs 466 crore. Hence, HG Infra was declared as the lowest bidder. The project consists of the construction of foundations, substructure & superstructure along with river training/protection work, earthwork & allied works for viaducts 1 & 2 in between chainage km 47+415 to km 50+900, in connection with Bhanupali-Bilaspur-Beri new railway line in Bilaspur, Himachal Pradesh.
Wipro
Wipro Lab45 announced the launch of its Decentralized Identity and Credential Exchange (DICE) ID, which puts users in control of their personal data and enables faster, easier and secure sharing of private information online. DICE ID, powered by blockchain technology, enables issuance and verification of tamper-proof, self-verifiable digital credentials.
Hero MotoCorp
India's largest two-wheeler maker's electric vehicle (EV) arm VIDA on Wednesday announced to set up a public charging infrastructure in Bengaluru, Delhi, and Jaipur. VIDA claims to have installed nearly 300 charging points at 50 locations across the three cities for public use. The company said that its charging infrastructure allows users to charge the VIDA E-scooter’s battery at 1.2 km per min and each of its charging stations will have DC and AC charging sockets.
Barbeque-Nation Hospitality
UTI Mutual Fund has bought additional 0.14% stake or 54,829 equity shares in the casual dining chain via open market transactions on February 21. With this, its shareholding in the company increased to 9.1753%, up from 9.0346% earlier
Biocon
The biopharmaceutical company has fulfilled its payment obligation and has fully redeemed the commercial papers of Rs 2,250 crore.
Kotak Mahindra Bank
The private lender's arm on Wednesday announced a Rs 1,070 crore investment in Biocon to help a subsidiary of the Bengaluru-based company in an acquisition. The Kotak Special Situations Fund (KSSF) investment will help Biocon Biologics' acquisition of the biosimilars business of its partner Viatris, according to an official statement. In November 2022, Biocon Biologics announced that it has completed the acquisition of Viatris' global biosimilars business in a multi-billion dollar deal.
Induslnd Bank
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Wednesday admitted private sector lender IndusInd Bank's insolvency plea against Zee Entertainment Enterprises Ltd (ZEEL). This comes after the bank in its plea before the NCLT claimed a default of Rs 83.08 crore against the media and entertainment firm.
Under Section 7 of IBC, a financial creditor may move NCLT for initiation of CIRP over default of Rs 1 crore and above
Lemon Tree Hotels
The company on Wednesday said it has signed a License Agreement for a 47-room property in Bhopal, Madhya Pradesh under the company’s brand Lemon Tree Hotel. The hotel is expected to be operational by December 2023. This hotel will feature 47 well-appointed rooms, a restaurant, a banquet, a gym, and other public areas.
Sarda Energy & Minerals
South Eastern Coalfields has issued a Letter of Acceptance to the company against its bid for the re-opening, salvaging, rehabilitation, development and operation of Kalyani underground mines, in Chhattisgarh on revenue sharing of 4.5% basis. The necessary agreements will be executed in due course as per the terms of Letter of Acceptance.
Titagarh Wagons
The company on Wednesday said the consortium it set up with Bharat Heavy Electricals Ltd (BHEL) is the sole fully Indian entity among the five bidders for the Rs 72,000 crore Vande Bharat trains contract. TWL, the engineering and wagon major, also said it has lined up Rs 700 crore capex over the next 4-5 years to ramp up its production capacity and related infrastructure. The upcoming steel body facility at Uttarpara in West Bengal will strengthen TWL’s coach-building capabilities in both aluminium and steel bodies, a senior company official said.
NLC India
The Ministry of Coal has appointed Vismita Tej as the part-time official director of the company with effect February 22, after Nagaraju Maddirala has relinquished as director of the company
Gujarat State Fertilizers & Chemicals
Government of Gujarat has appointed Raj Kumar (IAS) as Chairman and Director of the company. Presently, Raj Kumar is the Chief Secretary to Government of Gujarat
Greaves Cotton
The engineering company has announced leadership expansion across retail, finance, and e-mobility businesses, to steer the next phase of growth. The firm apppointed Narasimha Jayakumar as CEO of retail business, Sandeep Divakaran as CEO of Greaves Finance, and Chandrasekar Thyagarajan as CFO of Greaves Electric Mobility.
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