March 29, 2022 10:10 AM
Stocks In the News: Check out the companies such as Aurobindo Pharma, PVR, Power Grid and others making headlines before the stock market open.
Meanwhile, these are the stocks to watch out for in trade today:
PVR: Total three stocks are banned from trading in the futures and options segment by the National Stock Exchange on March 29 after these securities crossed 95 percent of the market-wide position limit. The exchange has added one fresh stock to the list and removed three for Tuesday. PVR, which announced merger with its competitor Inox Leisure, is the latest addition to the ban list. “All clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions.
Any increase in open positions shall attract appropriate penal and disciplinary action,” the NSE said. During the ban, traders are not allowed to take fresh positions in stocks under the F&O ban, but they can start reducing their positions. The F&O ban rule helps reduce speculation in a stocks. PVR and INOX Leisure announced a merger deal to create the largest multiplex chain in the country with a network of more than 1,500 screens. The boards of directors of the two companies at their meetings held on Sunday approved an all-stocks amalgamation of INOX with PVR, the two companies said in separate regulatory filings.
Aurobindo Pharma: Hyderabad based drugmaker Aurobindo has acquired the domestic formulation business of another Hyderabad based firm Veritaz Healthcare on a slump sale basis at Rs 171 crore.
HCL Technologies: The IT services major said it has been selected to provide global service desk and on-site support to global healthcare company Novo Nordisk. Through the partnership, HCL will help Novo Nordisk transform its IT operations and create world-class end-user experiences and drive efficiency across its workforce.
Power Grid Corporation: The state-run utility player approved an investment worth Rs 821.3 crore in five projects including transmission system strengthening beyond Kolhapur for export of power from solar and wind energy zones in southern region, transmission system strengthening for Srinagar-Leh transmission system.
Swelect Energy Systems: Subsidiary Swelect Renewable Energy has successfully commissioned a 11 MWac solar power plant in Trichy, Tamil Nadu. It had executed power purchase agreements with captive users – Hatsun Agro Product, Prashanth Fertility Research Centre, and Mudhra Fine Blanc – for the sale of solar power for a period of 15 years from the said plant.
Mahindra & Mahindra Financial Services: The leading NBFC said it has raised over Rs 255 crore by issuing bonds on private placement basis. The board approved the allotment of 2,500 secured redeemable non-convertible debentures (NCDs) of face value of Rs 10 lakh each. The tenure of the bonds is 9 years and 234 days.
Zensar Technologies: This Stocks In the News that the company has opened a global delivery centre in Kolkata to support global clients and leverage local talent.
Sudarshan Chemical Industries: The board approved fundraising of up to Rs 200 crore through issue of non-convertible debentures on a private placement basis.
Indiabulls Housing Finance: The second-largest mortgage lender is planning to raise Rs 50,000 crore next fiscal to fund its expected 15-20 per cent loan growth which will take its balance sheet near to the pre-pandemic peak when it had crossed the Rs 1-lakh-crore mark.
SRF: The chemicals firm said its board has approved the appointment of Ashish Bharat Ram as Chairman and Managing Director with effect from April 1. In a regulatory filing, SRF said that the company had announced the appointment of Vellayan Subbiah as the Chairman of the board of directors with effect from April 1, 2022.
Securekloud Technologies: SEBI informed the company about appointment of forensic auditor, Grant Thornton, for conducting the forensic audit for the financial years ended March 2018, March 2019, March 2020 and the nine months ended December 2020.
Ruchi Soya: The Securities and Exchange Board of India (Sebi) has directed Ruchi Soya Industries to give the investors who participated in its Rs 4,300-crore follow-on public offering (FPO) the option to withdraw their bids due to “circulation of unsolicited SMSes advertising the issue”.
Somany Ceramics: Board has approved investment of Rs 9.50 crore in arm SR continental
GR Infraprojects: This Stocks In the News that the company has got two orders in Maharashtra on hybrid annuity mode under commercial operation from NHAI. The projects are worth Rs 1744 crores.
Tata Power: This Stocks In the News that the company and Rustomjee Group have collaborated to set up electric vehicle charging infrastructure at the commercial and residential projects of the latter across Mumbai metropolitan region.
Ashapura Minechem: Porinju Veliyath-backed Equity Intelligence India sold 4.82 lakh equity shares in the company via open market transactions on March 24. With this, its shareholding in the company stands at 0.83 percent, down from 1.36 percent earlier.
Muthoot Capital Services: This Stocks In the News that the company completed a transaction of Rs 193.63 crore through securitisation of portfolio. This is the second securitisation carried out by the company during FY22.
Piramal Enterprises: This Stocks In the News that the company has approved allotment of 1,750 secured NCDs each of face value of Rs 10 lakh at a price of Rs 10,05,497 per debenture aggregating to Rs 175.96 crores on a private placement basis.
ICICI Bank: The bank has signed an agreement for investment in India Debt Resolution Company. It will buy 15 per cent stocks in IDRC for Rs 7.5 crore with the first investment of Rs 3 crore by March 31.
Dolfin Rubbers: The board has approved the issue of bonus shares in the ratio of one equity share for every three existing equity shares held by the members, and decided to migrate the company from BSE SME Platform to Main Board of BSE and NSE.
Kilpest India: Subsidiary 3B BlackBio Biotech India has completed the acquisition of 70 percent equity stake in HS Biolabs, Manchester, United Kingdom. The rebranding of HS Biolabs as TRUPCR Europe has been initiated and will be completed in some time.
Welspun Specialty Solution: This Stocks In the News that the company has got an order worth Rs 16 crore for supply of seamless pipes.
TCI Finance: The company has defaulted on payment of EMI of the term loan of HDFC for March 2022 for Rs 17,12,854 and Rs 17,12,931.
Welspun Specialty Solutions: This Stocks In the News that the company has received Rs 15.97 crore from one of its customer, a public sector undertaking after an arbitral award passed in favour of the company. This payment is with regard to certain disputes that arose out of a contract for supply of seamless pipes by the company.
Poonawalla Fincorp: Relaxing its earlier directions, Sebi removed the securities market ban imposed on eight entities with respect to alleged insider trading activities in the stocks of the NBFC, which was earlier known as Magma Fincorp.
Mafatlal Industries: This Stocks In the News that the company has signed a sale deed in favour of Goldi Solar Pvt Ltd for selling a certain land parcel at Navsari for Rs 16.4 crore.