STOCKS IN ACTION 20 JULY Dr. Reddy's Laboratories: The drug m | Indian Stock Market
STOCKS IN ACTION 20 JULY
Dr. Reddy's Laboratories: The drug maker received zero observations and no action from the USFDA at its API manufacturing facility in Srikakulam. The inspection was conducted from July 10 to July 19.
Sun Pharmaceutical Industries: Krensavage Asset Management opposed Sun Pharmaceutical’s bid to take Taro private on account of its low offer value. Shareholders could receive $45 per share on liquidation, compared with Sun Pharmaceutical’s offer of $38 apiece, it said. Krensavage Asset Management is the largest minority shareholder of Taro Pharmaceutical Industries.
Olectra Greentech: The company has awarded a Rs 395.12 crore contract to Megha Engineering & Infrastructure to construct a greenfield electric vehicle manufacturing facility at Seetharampur, Hyderabad.
Shree Cement: The company received an inspection notice from the Ministry of Corporate Affairs. The company said it would comply with the directions.
TTK Prestige: The company resumed manufacturing operations at the Roorkee plant after flooding on July 18. It estimated a loss of movables of about Rs 40 lakh. The entire area is under red alert for the next two days.
LIC: Sat Pal Bhanoo, additional zonal manager at the Zonal Office, LIC of India, Bhopal, has been appointed as Managing Director of LIC India.
Reliance Industries: Reliance Strategic Investments has appointed Isha Ambani and Anshuman Thakur as non-executive directors. It also appointed Hitesh Kumar Sethia as managing director and chief executive officer for three years.
Alok Industries: The company appointed Ram Rakesh Gaur as chief executive officer and Vinod Sureka as joint chief financial officer.
Transformers and Rectifiers: Gujarat Energy Transmission Corporation has decided to stop dealing with Transformers and Rectifiers for a period of three years. The 'Stop Deal' notice is on the ground that the company had allegedly submitted a forged Material Dispatch Clearance Certificate for certain transformers supplied. The company has conducted inspection tests and is taking steps to defend its
PNC Infratech: The company signed a concession agreement with the National Highways Authority of India for three Hybrid Annuity Mode projects worth Rs 3,264.43 crore.
Avenue Supermarkets: The company has opened a new store in Akola, Maharashtra, taking the total number of stores to 330.
Genus Power Infrastructures: The company has incorporated a wholly-owned step-down subsidiary, Genus Chhattisgarh PKG-1 SPV, to execute the Advanced Metering Infrastructure Service Provider contract.
Vishnu Chemicals: Its unit, Vishnu Barium, has acquired a 100% stake in Ramadas Minerals for Rs 26 crore. Ramadas conducts business in the beneficiation of Baryte ores and had a turnover of Rs 2.12 crore in FY23.
Mastek: The company signed a definitive agreement to acquire BizAnalytica for an upfront payment of $16.72 million (Rs 137.24 crore) and earn out up to $24 million (Rs 196.99 crore).
