STOCKS IN ACTION 2 JUNE

STOCKS IN ACTION 2 JUNE

Coal India: The government will exercise the greenshoe option in the offer for sale and offload another 9.24 crore shares on the second day after the issue was subscribed 3.46 times on the first day.

Aditya Birla Capital: The company will raise Rs 1,250 crore via preference issue 6.06 crore shares to Grasim Industries and and 1.51 crore shares to Surya Kiran Investment, respectively, at Rs 165.1 apiece.

AstraZeneca Pharma India: The company has received permission from Central Drugs Standard Control Organisation to import, sell and distribute Tremelimumab (Imjudo) concentrate, used in the treatment of patients with liver disease unresectable hepatocellular carcinoma.

NHPC: The company signed an MoU with Nepal’s Vidhyut Utpadan Company for joint development of 480 MW Phukot Karnali hydroelectric project in Kalikot district of Karnoli province of the neighbouring nation.

SJVN: The company signed a project development agreement of 669 MW Lower Arun Hydro Electric Project in Nepal. The company is also developing 217 km long associated transmission network for power evacuation and export to India.

NTPC: NTPC Green Energy, a wholly owned subsidiary of the company, signed a deal with Uttar Pradesh Rajya Vidyut Utpadan Nigam to develop renewable energy parks and projects in the state.

MOIL: The company recorded 43% growth year-on-year in manganese ore production during May at 1.53 lakh tonnes and 72% rise on year in sales at 1.53 lakh tonnes

GAIL (India): The company infused in JBF Petrochemicals Rs 2,101 crore, including equity worth Rs 625 crore and debt worth Rs 1,476 crore, under the resolution plan for the latter. With this, JBF Petrochemicals has become a wholly owned subsidiary of GAIL.

Paras Defence & Space Technologies: The company and Israel-based Controp Precision Technologies have formed a 30:70 joint venture to manufacture electro optic/infra-red systems for various applications.

Aster DM Healthcare: The entered hospital operation and management agreement with 130-bed Padmavathy Medical Foundation, based in Kollam, Kerala.

Central Bank of India: The bank entered a strategic co-lending partnership with India Shelter Finance Corporation Ltd. to offer MSME loans.

Prism Johnson: Of the proposed investment to acquire 45% stake in Renew Green (MPR Two), the company has acquired 72.76 lakh shares for Rs 7.28 crore. The remaining amount would be invested in one or more tranches by June 2024.

Can Fin Homes: Deputy Managing Director Amitabh Chatterjee, who was deputed from Canara Bank, resigned on June 01, 2023, due to his repatriation and transfer back to Canara Bank.

Affle (India): Affle International Pte, a wholly owned Singapore subsidiary of the company, has completed 100% acquisition of YouAppi Inc.

Tata Motors: The company reported a 2% decline year-on-year in domestic sales performance at 73,448 units during May. Domestic passenger vehicle sales grew 6% on year, while commercial vehicle sales dipped 12% year-on-year

Hero Motocorp: The company reported a 7% rise year-on-year in sales during May at over 5.19 lakh units.

India Infrastructure Trust: The company appointed Pooja Aggarwal as CEO and Darshan Vora as CFO, effective June 1

Adani Enterprises arm Adani Road Transport Limited terminates share purchase agreement with Swarna Tollway Private Limited & Gujarat Road & Infrastructure Company

MTAR Technologies: Societe Generale picks 1.35% stake  (4.2lk shares) at Rs 1880/share

Promoter sold 3.5lk shares

Rategain: Avataar Holdings sells 5% stake in RateGain Travel for Rs 206 crore

Key buyers include Societe Generale, ABSL MF

GRASIM: Launches Sparkle Painting services in Mumbai, Pune and Bangalore.

First painint capacity slated to commission by Mar-24