Share Market News, Stocks In News


6 March 23

FII & DII DATA 

FII Net  BUY - 721.37cr
DII Net  BUY - 757.23cr

08 March 2023

Stocks In News 

Adani Group 

The group prepaid share-backed financing worth Rs 7,374 crore ahead of its latest maturity in April 2025. With this, 155 million shares or 11.8 percent of Adani Ports & SEZ holdings will be released from pledge. Additionally, 31 million shares or 4 percent of promoter pledged holdings of Adani Enterprises, 36 million shares or 4.5 percent of promoter holding of Adani Transmission, and 11 million shares or 1.2 percent of promoter holding at Adani Green Energy will be released from pledges. This is consistent with the promoters' commitment to prepay all share-backed financing before March 31, 2023.


Zee Entertainment 

Enters into a settlement agreement with IPRS (Indian Performing Right Society) to end all disputes and claims between them. IPRS has also agreed to withdraw the insolvency petition filed by them against the company


Allcargo Logistics 

The company has consolidated its position in contract logistics business by buying out the partner's 38.87 percent stake for an enterprise value of Rs 373 crore, taking its stake to 100 percent in the contract logistics business. The acquisition price is based on the agreement that was signed with ACCI JV partners in 2016 and with tremendous growth in this business over the years, this proves to be a highly value accretive acquisition. The board also approved sale of smaller non-core customs clearance business. Allcargo Logistics will sell its 61.13 percent stake in this business for an enterprise value of nearly Rs 42 crore.


NBCC 

Issued Leter of Award for construction of residential accomodation for faculty and staff at Institute of Liver and Biliary Sciences at Vasant Kunj in New Delhi at the risk and cost of previous agency for Rs 89.94 crore to Asian Construction Company. Additionally, the company has received multiple orders aggregating to Rs 541 crore in Himachal Pradesh, Jammu & Kashmir and Bhubaneswar.


Hindustan Aeronautics, Larsen & Toubro 

The Ministry of Defence has signed contracts with HAL and L&T for procurement of 70 HTT-40 basic trainer aircraft and three cadet training ships. The cost of procuring the aircraft from HAL will be over Rs 6,800 crore, while those of the three cadet training ships from L&T would be worth over Rs 3,100 crore under the Indigenously Designed, Developed and Manufactured category. The ships will be designed at the L&T shipyard in Kattupalli and will generate an employment of 22.5 lakh man-days over a period of four-and-a-half year.


Vardhman Special Steels 

Begins mass production of steel for forging companies of Aichi Steel Corporation based in south-east Asia for some grades for which it hs received approvals. The sales of these products for the current financial year would be nearly 10,000 MT. It will further increase with the receipt of more approvals in the next 2-3 years. The company has joined hands with Toyota's global supply chain for the same.


Zydus Lifesciences 

Gets final approval from the USFDA for Lenalidomide capsules 2.5 mg and 20 mg. Lenalidomide is Revlimid Generic. Lenalidomide is used in the treatment of various types of cancers. The drug had annual sales of $183 million in the US as per IQVIA data for the 12-months ending December 2022. The product will be launched in the US market shortly and will be manufactured at the group's formulation manufacturing facility in SEZ, Ahmedabad.


Power Grid 

Board approves investment of Rs 524 crore to Eastern Region Expansion Scheme. The said investment is likely to be commissioned by November 2025. The board has also approved an investment of Rs 3,546.9 crore to Transmission System for Kurnool Wind Energy, which will be commissioned by November 2024.


Natco Pharma and Ajanta Pharma 

Natco Pharma board meet today to consider a share buyback. The stock has corrected 38 percent from its 52-week high. Similarly, the board of Ajanta Pharma will also meet on March 10 to consider a buyback of shares. The stock has corrected nearly 20 percent from its 52-week high.

Post a Comment

0 Comments