STOCKS IN ACTION 28 JUNE Aditya Birla Fashion and Retail, TCN | Indian Stock Market
STOCKS IN ACTION 28 JUNE
Aditya Birla Fashion and Retail, TCNS Clothing: The Competition Commission of India has approved the acquisition of 51% of the expanded share capital of TCNS Clothing Company by Aditya Birla Fashion and Retail.
Housing Development Finance Corp.: The Reserve Bank of India, through a letter on Tuesday, removed restrictions on HDFC Credila from onboarding customers. The relaxation is subject to HDFC Bank applying for a change in shareholding in HDFC Credila by July 31.
State Bank of India: The bank has decided to acquire the entire 20% stake held by SBI Capital Markets in SBI Pension Funds. Separately, S&P Global Ratings raised the standalone credit ratings for SBI to BBB from BBB-.
Hindustan Aeronautics: The company recommended a stock split of the existing one equity share of face value of Rs 10 each, fully paid up, into two equity shares of Rs 5 each, fully paid up. It also recommended a final dividend of Rs 15 per equity share for fiscal 2022–23.
Macrotech Developers: Morgan Stanley slashed the company’s price target to Rs 572.50 from Rs 1,145 previously, citing that the company has issued bonus shares, resulting in a doubling of the share count.
HDFC Bank, ICICI Bank: S&P Global Ratings raised standalone credit ratings for HDFC to A- from BBB+ and for ICICI Bank to BBB from BBB-.
Bajaj Finance: S&P Global Ratings raised standalone credit ratings to BBB-/Stable/A-3 from BB+/Positive/B.
Hero FinCorp: S&P Global Ratings raised standalone credit ratings to BB+/Stable/B from BB/Stable/B.
Shriram Finance: S&P Global Ratings raised standalone credit ratings to BB/Stable/B from BB-/Stable/B.
Union Bank of India: S&P Global Ratings raised standalone credit ratings to BBB-/Stable/A-3 from BB+/Stable/B.
Titagarh Wagons: The company has received a letter of acceptance from Gujarat Metro Rail Corporation to design, manufacture, supply, test, commission, and train 72 standard gauge cars for Surat Metro Rail. The order is worth Rs 857 crore, and execution will start 76 weeks after the contract is signed. The project is scheduled to be completed within 132 weeks after execution starts.
Ramco Cements: The company has commissioned a Line III clinker manufacturing facility at its Ramamasamy Raja Nagar plant.
ITC: The company acquired 857 compulsorily convertible preference shares of Rs 10 each from Mother Sparsh for a consideration of Rs 11.54 crore. ITC now holds 26.50% of Mother Sparsh’s share capital.
Infosys: The software exporter, has signed a memorandum of understanding with Skillsoft to foster digital learning. Infosys will offer learners free access to Skillsoft’s learning content through the Infosys Springboard platform.
Gland Pharma: The U.S. Food and Drug Administration issued one observation listed under Form 483 after it inspected the company’s Pashamylaram facility at Hyderabad between June 15, 2023, and June 27, 2023. It had conducted a pre-approval inspection for seven products and a good manufacturing practice inspection at this facility. The observation is procedural in nature, and the company will submit
Meghmani Finechem: The company commissioned its wind-solar hybrid power plant of about 18.34 megawatts and said the power flow has started.
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Vedanta has modified its application for a semiconductor fabrication unit
