3 March 23
FII & DII DATA
FII Net BUY - 246.24cr
DII Net BUY - 2089.92cr
06 March 2023
Stocks In Focus
Bajaj Electricals
EPC business segment wins contract for supply of plant and installation services of development of distribution infrastructure of electric supply circle in various districts of Bihar. The contract is valued at Rs 564.87 crore, and shall be completed within 30 months from the date of the issue.
Kansai Nerolac
Board approves the acquisition of 40 percent stake in Nerofix from Polygel for Rs 37 crore. The company had earlier acquired 60 percent stake in Nerofix in January 2020.
Computer Age Management Services (CAMS)
To acquire 55.42 percent stake in data sciences and artificial intelligence firm Think Analytics India Pvt. Ltd., through a secondary acquisition, for an undisclosed sum. The acquisition is expected to be completed by April 10. Think Analytics’ shares will be acquired at a mutually agreed-upon pre-money enterprise valuation.
Reliance Industries, ONGC
The government revised the windfall tax on crude petroleum to Rs 4,400 per tonne from Rs 4,350 per tonne earlier. Special additional excise duty on ATF has been cut to nil from Rs 1.50 per litre. Special Additional Excise duty on diesel cut to Rs 0.5 per litre from Rs 2.5 per litre. Petrol continues to have nil special additional excise duty.
Adani Group Companies
ICRA has revised the rating outlook of Adani Total Gas to negative from stable. The same has been done for the ratings of Adani Ports. The news comes after Adani Group stocks staged a massive rally on Friday after GQG Partners acquired stake worth over Rs 15,000 crore in four Adani Group Companies. Additionally, LIC Chairperson MR Kumar told CNBC-TV18 said that India's largest life insurer met the Adani management and that they are more confident about the business prospects of the group post the meet. Further, the Supreme Court has dismissed the appeal filed by MSEDCL challenging the Appellate Tribunal for Electricity order in favour of Adani Power.
IEX
Average daily volume traded on the exchange increased 5 percent month-on-month in February, while overall volume declined 5 percent due to lesser number of trading days. Total volumes in February at 8,200 MU, down 7 percent from last year. Sell-side liquidity continues to be affected due to higher input costs. Supply constraints are expected to ease in the coming months due to the conducive policy and regulatory initiatives.
Hindustan Aeronautics
Gets refund order from the office of Joint Commissioner of Income Tax for Annual Year 2013. Gets this order pursuant to orders from ITAT, Bengaluru. ITAT allowed R&D expenditure of nearly Rs 726 crore as capex. The order includes refund of Rs 570 crore and interest worth Rs 163 crore.
Mahanagar Gas
Has entered into definitive documents to acquire 100 percent of the shareholding of Unison Enviro Pvt. Ltd. through purchase of shares from its existing shareholders, which will take place upon recipt of approval from the PNGRB. The transaction will be done for a cash consideration of Rs 531 crore. The acquisition will help MGL expand to newer areas in Maharashtra and Karnataka, and is of strategic importance to the company.
Dish Tv
Shareholders reject four names presented for independent directors by the board. Board has presented the names of Sunil Gupta and Gaurav Gupta for independent directors. The board had also presented the names of Madan Mohanlal Varma & Lalit Behari Singhal for independent directors. Post the EGM, the strength of the board following the EGM has reduced to two. The company said that the board will take the necessary steps to comply with the regulations.
Zydus Lifesciences
Gets final approval from the USFDA for Vigabatrin for oral solution USP, 500 mg. Vigabatrin for oral solution is indicated for the treatment of Refractory Complex Partial Seizures as adjunctive therapy in patients 2 years of age and older. It is also used to treat infantile spasms in babies and children between the ages of 1 month and 2 years. The drug will be manufactured at the company's Moraiya unit in Ahmedabad.
The drug had annual sales worth $233.7 million as per IQVIA data of December 2022.
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