Buzzing Stocks : Stocks that will see action on November 28, 2022
Beginning on December 1, 2022, Hero MotoCorp will increase the ex-showroom prices for its bikes and scooters. The precise amount of the price rise will depend on models and markets, but it will be up to 1,500.
The application of One97 Communications’ Paytm Payments Services Limited to get a licence to function as a payment aggregator has been denied by the Reserve Bank of India (RBI). According to the letter, PPSL must resubmit the PA application within 120 days of meeting the requirements.
Asian Development Bank and VA Tech Wabag have agreed to work together to raise $200 million through unlisted, non-convertible debentures with a 5-year and 3-month tenor, which ADB will subscribe to over a 12-month period. This will be ADB’s first financial commitment to an Indian water provider.
As a wholly owned subsidiary, Arvind Technical Products Private Limited was established by Arvind Ltd to conduct the business of producing and marketing textile goods. To fulfil the need for participation in the production linked incentive (PLI) scheme for textiles, the wholly owned subsidiary has been created.
One of the top non-banking financial institutions in India, L&T Finance Holdings Limited, has announced the successful sale of its mutual fund division to HSBC Asset Management (India) Private Limited. In accordance with the final agreements, it received $3,484 crore as consideration for the sale and realised a surplus cash balance of $764 crore in L&T Investment Management Limited, the manager of L&T Mutual Fund (LTIML).
2,500 crore have been raised by Indian Oil Corporation through the private placement of NCDs. IOC will use the money to pay off current debt or fund major projects.
State Water and Sanitation Mission (SWSM) of Uttar Pradesh has awarded HFCL Ltd a contract of Rs. 1,770 crore for the provision of EPC services. The company’s revenue and profitability will increase as a result.
The Central Drugs Standard Control Organization has granted AstraZeneca Pharma India an import and market authorization in Form CT-20 (subsequent new drug authorisation) for dapagliflozin tablets, 10 mg.
For the supply of an intermediate for their patented product, Ami Organics, one of the top global producers of advanced pharmaceutical intermediates and specialty chemicals, has signed a definitive multi-year, multi-tonne agreement with Fermion, a wholly owned subsidiary of Orion Corporation, Finland. According to Fermion’s supply prediction, the total minimum contract value will likely be in the millions of euros over a ten-year period. From FY24 onward, the product is anticipated to begin making a significant contribution to the revenue.
The issuance of non-convertible debentures in three series, totaling up to 1,500 crore (base issue size of 1,000 crore with green shoe option of up to an additional 500 crore), has been approved by the committee of directors of Indus Towers.
Subject to shareholder and other required approvals, TIL Limited has chosen to enhance the authorised capital to inject capital into the activities of the company by bringing in a strategic investor. Indocrest Defence Solutions Private Limited, a unit of the Sunil Kumar Chaturvedi-led Gainwell Group, will inject the funds.
In order to restructure a portion of the company’s debt, the board of Tasty Dairy Specialities Ltd. has evaluated and approved the issue and allocation of optionally convertible preference shares (OCPS) on a preferential basis to lender.
Due to planned maintenance and other activities, Morganite Crucible (India) Limited has stated that the factory will be temporarily closed from November 28 to December 3. The distribution of goods to clients and the anticipated income for the specific fiscal year will not be impacted. On December 5, the factory will reopen for business.
For 93 crore, Bajaj Finance has agreed to purchase a 40% share in Snapwork Technologies Private Limited. The full cash deal is anticipated to finalise by December 31.
Tega Investments Limited, a wholly owned subsidiary of Tega Industries that was established in the Bahamas as a special purpose vehicle (SPV), has been dissolved, and as a result, no longer exists.
A new manufacturing facility has been added in Wadiware in Nashik, Maharashtra by Virtuoso Optoelectronics Ltd, an up-and-coming producer of high-volume, large-scale production of electronics manufacturing services (EMS), as well as consumer and industrial products. The new facility is in line with the company’s pledged investment for the PLI scheme for LED lighting and white goods, for which VOEPL got clearance last year.