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Stocks In the News: Tata Consumer Products, Kotak Bank, Zomato and others

March 25, 2022 10:06 AM

Stocks In the News: Tata Consumer Products, Kotak Bank, Zomato and others
Stocks In the News: Check out the companies  such as Tata Consumer Products, Kotak Bank, Zomato and others making headlines before the stock market open.

Stocks In the News: Check out the companies  such as Tata Consumer Products, Kotak Bank, Zomato and others making headlines before the stock market open.

Meanwhile, here are some stocks that may see likely market action today:

Tata Consumer Products: Tata Consumer Products board will meet on March 29 to consider raising funds via preferential share sale. The Tata Group firm plans to issue preferential shares equivalent to 1.5% of its paid-up equity capital to a foreign buyer.

Kotak Mahindra Bank: This Stocks In the News that the Kotak Mahindra Bank sees huge block deal. Kotak Mahindra Bank: The Regents of the University of California bought 1,12,27,404 equity shares in the private sector lender via open market transactions at an average price of Rs 1,699.05 per share, however, Canada Pension Plan Investment Board sold 4 crore shares in the bank at an average price of Rs 1,700.10 per share.

Axis Bank: SEBI levies Rs 5 lakh penalty on Axis Bank for flouting merchant banking (MB) regulations. The matter dates back to a period between August 2016 and August 2019.

Auto companies: Reliance New Energy Solar, Ola Electric, Hyundai Global, and Rajesh Exports are among four firms that have been selected for the Rs 18,100 production-linked incentive (PLI) sch­eme for advanced chemistry cell (ACC) battery storage.

The five firms that unsuccessfully bid for the scheme — Mahindra & Mahindra, Larsen & Toubro, Amara Raja Batteries, India Power Corp, and Exide Industries  stocks— are placed under a waiting list.

IndusInd Bank: Private lender IndusInd Bank this week agreed to sell its Rs 247 crore principal loans of Future Retail and Asian Hotels (North) Ltd to Edelweiss Asset Reconstruction Company at a consideration of Rs 195 crore, said two people aware of the development.

Maruti Suzuki: Countering the criticism from the proxy advisory firm, Maruti Suzuki Chairman RC Bhargava Bhargava noted that all models produced at Suzuki Motor Gujarat (SMG), including EVs, would be ultimately sold by Maruti Suzuki India (MSI) in the marketplace.

Zomato: Zomato-backed Curefit revenue shrinks 67% to Rs 161 crore in FY21 from Rs 496 crore in FY20. The firm posted a loss of Rs 671 crore in FY21, entrackr website reported.

Oil companies: India’s top fuel retailers IOC, BPCL and HPCL have together lost around USD 2.25 billion (Rs 19,000 crore) in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in crude oil prices, Moody’s Investors Service said on Thursday.

Moreover, Petrol and diesel prices have been hiked today by an additional 80 paise.

Also Read : Veranda Learning Solutions IPO to open on March 29, price band at Rs 130-137 per share

NTPC: State-run power giant NTPC has made commercially operational an additional 42.5 MW of power generation capacity at Ramagundam floating solar project in Telangana from Thursday.

Kalpataru Power Transmission: SBI Funds Management acquired 14.5 lakh equity shares in the EPC company via open market transactions on March 23. With this, its shareholding in the company stands at 7.25 percent, up from 6.27 percent earlier.

Shally Engineering: Shally Engineering stocks sees huge block deal. Shaily Engineering Plastics: Lighthouse India III Equity Investors Ltd & PACs bought 2.48 percent in the company via open market transactions on March 24. With this, their shareholding in the company stands at 9.1 percent, up from 6.62 percent earlier.

Motherson Sumi: This Stocks In the News that the  company has won an order to manufacture & supply parts for commercial plane interiors. This is its first order from Boeing.

M&M: National Company Law Tribunal (NCLT) has approved the merger of subsidiaries Mahindra Engineering and Chemical Products, Retail Initiative Holdings and Mahindra Retail, with the company.

Adani Enterprises, L&T: The government said Adani Enterprises and L&T are part of two consortia led by State-run enterprises that have evinced interest in building the Polar Satellite Launch Vehicle (PSLV), the ISRO’s

Exide Industries: Exide Industries arm Chloride Metals starts commercial production at its Haldia facility. Exide Industries: Subsidiary Chloride Metals has started commercial production at its newly set-up green field manufacturing facility of battery recycling at Haldia, West Bengal.

The said recycling plant is equipped with modern state-of-the-art technology with the help of global engineering firm, Engitec Technologies S.P.A. Italy. The total installed capacity of the plant is 108,000 MT per annum.

Kohinoor Foods: This  Stocks In the News Kohinoor Foods board approves sale of its factory. Kohinoor Foods: The board has approved the sale of the factory unit of company at Sonepath (Haryana), by way of slump sale, and appointment of Chashu Arora, Chartered Accountant, as CFO of the company.

GR Infra: Company has received letter of award for new NHAI project in MP. The bid cost of the project is Rs 907 crores.

Lumax Auto Technologies: State-owned company IFCI has approved Lumax’ application filed under the Production Linked Incentive (PLI) scheme for automobile and auto component industry (PLI-AUTO).

GTPL Hathway:  This Stocks In the News that the GTPL Hathway signs partnership with Verimatrix. The digital cable TV and broadband service provider signed partnership with Verimatrix to onboard its video content authority system (VCAS) to protect its Google Android TV-based DVB Hybrid set top box. Verimatrix is the leader in powering the modern connected world with people-centered security.

Capri Global Capital: Capri Global Capital in pact with SBI to offer home loans. Subsidiary Capri Global Housing Finance has entered a co-lending alliance with the State Bank of India (SBI), country’s largest public-sector bank. The collaboration aims to offer housing loans under priority sector to eligible homebuyers at competitive interest rates across its 110 touchpoints in India.

Gulshan Polyols: Gulshan Polyols raises Rs 79 crore via QIP. Gulshan Polyols: The company has raised Rs 78.87 crore through QIP issue as the board has approved the allotment of 24,16,000 equity shares to eligible QIB at the issue price of Rs 326.48 per equity share.

Also Read : Nifty 50 Index Overview: List of Nifty 50 Companies Stock Price and News

Zen Technologies: Zen Tech gets order from Indian Army. This Stocks In the News that the company has received a project sanction order (PSO) from the Indian Army, for the design and development of a prototype of Integrated Air Defence Combat Simulator (IADCS). The prototype is to be made ready for User Trial Readiness Review (UTRR) within a period of 30 weeks.

Vikas EcoTech: Vikas Eco Tech sees huge block deal. Nomura Singapore acquired 66 lakh equity shares in the company via open market transactions at an average price of Rs 5.35 per share.

JSW Energy: The board of JSW Energy has approved the appointment of Rajeev Sharma as an additional and independent director, and Pritesh Vinay as an additional and whole-time director (finance), the company said on Thursday.

PNB: This Stocks In the News that the Public sector lender Punjab National Bank on Thursday said it has acquired nearly 6 per cent stake in public digital e-commerce platform ONDC for Rs 10 crore.

Shriram Transport: NSE IFSC has listed Shriram Transport Finance’s social, masala and foreign currency bonds on its debt securities market platform.

Stocks in F&O ban: Balrampur Chini Mills, Delta Corp, Indiabulls Housing Finance, Vodafone Idea, L&T Finance Holdings, SAIL, and Sun TV Network- are under the F&O ban.

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