17 March 23
FII & DII DATA
FII Net SELL - 1766.53cr
DII Net BUY - 1817.14cr
20 March 2023
Stocks In News
GMR Airports
Announce merger of GMR Airports with GIL. The company will raise Rs 2,900 crore from Groupe ADP through a 10-year foreign currency convertible bond (FCCB). The GMR group will continue to remain the single-largest shareholder and will remain in management control of the company. With the subscription of FCCB's by Groupe ADP, GIL will be further deleveraged by repaying corporate debt and also settling most contingent liabilities related to GMR Power and Urban Infra Ltd. (GPUIL).
Federal Bank
The lender has approved the issue of unsecured, Basel-III compliant, tier-II subordinate bonds in the nature of debentures worth Rs 1,000 crore on a private placement basis to certain eligible investors. The debentures are proposed to be listed on the NSE.
Sula Vineyards
The company informed the exchanges that the 2023 grape harvest is shaping up to be excellent in terms of quality and quantity. The unseasonal rainfall has had minimal impact on wine grapes, which tend to be more resilient than table grapes. The state-of-the-art new 2 million litre cellar facility at Domaine Dindori is up and running in time to receive the record grape tonnage. This is the third consecutive excellent harvest, putting the company in a good position to meet the increasing demand. The company has also begun the search of a new CFO after Bittu Verghese's resignation.
Torrent Pharma
USFDA issues form-483 with one observation after conducting a pre-approved inspection of the company's oral-oncology manufacturing facility at Bileshwarpura in Gujarat. The pre-approved inspection was conducted by the USFDA between March 13-17, 2023. The observation is procedural in nature.
Adani Enterprises
Adani Group has suspended work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat as it focuses on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, sources told PTI. The group’s flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat.
JSPL
Gets India's first BIS licence to manufacture fire resistant steel. The BIS 15103 grade steel structural steels are designed to withstand temperatures up to 600 degrees celsius for three hours. The new BIS 15103 grade steel structures will help the nation to reduce dependence on imports. The global structural steel market is expected to grow to $161.54 billion by 2027, a CAGR of 5.98 percent.
Can Fin Homes
The board has appointed Suresh Srinivasan Iyer as the new MD & CEO of the company. The initial term will be for a period of three years, further extendable to two years. Iyer has been part of Gruh Finance since 1997. The board has also renewed the authorisation for issuance of Non-convertible, redeemable debentures up to Rs 1,764 crore, on a private placement basis in one or more tranches.
SJVN
Gets Letter of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for 200 MW Solar Power Project to be developed any where in the State of Maharashtra. The project shall be constructed in a period of 18 months which shall be reckoned from the date of signing of PPA with MSEDCL. Tentative cost of construction / development of this project shall be around Rs 1,000 crore.
Navin Fluorine
The board of Navin Fluorine Advanced Services Ltd., a wholly-owned subsidiary, has approved capital expenditure of Rs 450 crore for setting up a new 40,000 tonnes per annum hydrofluoric acid capacity at Dahej. The new capacity is expected to come on stream in two years. The project will be funded through a mix of internal accruals and debt. The new capex is to cater to the growing demand for fluorochemicals in pharmaceutical, agro-chemical and emerging renewable sectors.
RVNL
Emerges as the lowest bidder for package No. C-4, composite contract package in connection with new BG Railway Line of Haryana Rail Infrastructure Development Corporation project. The total cost of the project is Rs 1,088.49 crore. The project has to be completed in 1,460 days.
Sun Pharma
Late-breaking phase 3 data at the American Academy of Dermatology showed oral investigational medicine Deuruxolitinib significantly improved scalp hair regrowth in Alopecia Areata. The primary efficacy endpoint for THRIVE-AA2 was the percentage of patients achieving an absolute Severity of Alopecia Tool (SALT) score of 20 or less at week 24 of treatment compared to placebo
Cochin Shipyard
The defence PSU has bagged an order worth Rs 550 crore from NAVSHUTTLE 1 AS and NAVSHUTTLE 2 AS, Lysaker Norway, for the construction of two zero emission feeder container vessels. NAVSHUTTLE 1 and 2 are part of the Samskip Group, headquartered in the Netherlands. The first vessel is to be delivered in 28 months, while the second will be delivered within 34 months, according to the company's statement.
Godawari Power
Godawari Power & Ispat has approved a buyback of equity shares worth Rs 250 crore at its board meeting held on Saturday. The company will buyback up to 50 lakh equity shares of face value of Rs 5 each through this exercise. The buyback price has been set at Rs 500 per share, which is a 28.2 percent premium to Friday's closing price. The buyback will be done through the tender offer route and the record date for the same has been set as March 31, 2023
0 Comments