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Stocks in the news: TCS, IndiGo, Tata Power, ZEE, AB Fashion and Max VIL.


Date: 08-09-2022
Subject: Stocks in the news: TCS, IndiGo, Tata Power, ZEE, AB Fashion and Max VIL
Nifty futures on the Singapore Exchange traded 99 points, or 0.56 per cent higher at 17,729.5, signaling that Dalal Street was headed for a positive start on Thursday. Here are a dozen stocks which may buzz the most in today's trade:

Tata Consultancy Services: Telecom gear maker Nokia has selected the IT major for redesigning its employee management system across 130 countries where it operates. TCS NSE 0.68 % will redesign Nokia's human capital management processes and deploy a new cloud-based platform to drive simplification for a better employee experience.

InterGlobe Aviation: Rakesh Gangwal, co-founder of IndiGo, and his family are looking to sell a 2.8 per cent stake in the budget carrier, through a block deal. As part of the deal, about 10.8 million shares belonging to the Gangwal family have been listed for sale for Rs 1,996 crore.

Tata Power: The Tata group's power arm said it has set up over 450 charging facilities across more than 350 national highways, including one at the longest highway (NH 44) and another at the busiest highway (NH 19). This is in line with the company's nationwide plan of setting up charging points from north to south and from east to west.

Zee-Entertainment Enterprises: The National Company Law Tribunal has directed the media major to convene a meeting of its shareholders to get approval for its proposed merger with Culver Max Entertainment, formerly Sony Pictures Network.

Aditya Birla Fashion and Retail: The fashion retail said market regulator SEBI has granted it exemption over lisiting of shares worth Rs 2,195 crore alloted to Caladium Investment Pte, a foreign portfolio investor.

Schneider Electric Infrastructure: The manufacturer of elevators and escalators has received approval from its board of directors for enhancing the production capacity of vacuum interrupters and vacuum circuit breakers by setting up a manufacturing unit in Kolkata.

Max Ventures & Industries: The investment and holding company will acquire Acreage Builders at an enterprise value of Rs 322.50 crore as part of its strategy to expand its real estate business in Delhi-NCR. Acreage Builders owns 7.15 acres of land at Golf Course Road in Gurugram.

Zydus Lifesciences: The pharma player has achieved positive proof-of-concept in its Phase 2 clinical study of NLRP3 inhibitor, ZYIL1 in patients with cryopyrin-associated periodic syndrome (CAPS). CAPS is a rare, life-long, auto-inflammatory condition, caused by NLRP3 activating mutations and is classified as an orphan disease.

Bank of Maharashtra: The state-owned lender said it has raised Rs 710 crore from bonds to fund business growth. The fund raised via Basel III compliant Additional Tier 1 (AT1) bonds of Rs 710 crore at a coupon rate of 8.74 per cent. The issue garnered subscription of 10 times against base issue size of Rs 100 crore.

CG Power and Industrial Solutions: Standard Chartered Bank (Singapore) offloaded 1,38,45,000 shares in six tranches, amounting to a 0.91 per cent stake, at an average price of Rs 215 apiece of the utility firm for Rs 297.66 crore on Wednesday through an open market transaction, according to BSE's block deal data.

Salasar Techno Engineering: The construction and engineering firm said its board has approved a proposal to raise around Rs 82 crore through issuance of equity shares to qualified institutional buyers. The proposal was approved by the fund raising committee of the company's board.


Share India Securities: The technology-driven financial company said it has revamped the entire user journey with the launch of internet-based trading (IBT) products, which include mobile apps, e-KYC process and a new website. Internet-based trading will be available on Android and iOS applications through which clients will be able to trade smartly.

Duroply Industries: Ace investors Porinju Veliyath and Litty Thomas picked an additional 2.12 percent stake or 1.58 lakh shares in the company via preferential allotment to increase their shareholding to 7.01 per cent from 4.89 per cent.

SBC Exports: The commercial services firm has received a contract from the Institute of Company Secretaries of India worth Rs 3.17 crore for a period of two years which will be renewed after the expiry of the same.

Concord Drugs: The microcap pharma player said its board of directors has given approval for the acquisition of up to 100 perc ent stake in Proton Remedies at Rs 283 per share on cash basis, and issue of up to 12,56,250 convertible warrants to the promoters on preferential basis at an issue price of Rs 33 per warrant.


Source Name:-Economic Times 
 
 
 
 
 
 
 
 
 
 
 

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