2023-05-03 04:37:36
STOCKS IN ACTION 3 MAY
Mahindra & Mahindra Financial Services: April Monthly Business Updates (YoY) Overall disbursement increased 39% to Rs 3,775 crore. Collection efficiency improved to 92%, against 90% a year ago. Stage-3 and Stage-2 assets have remained range-bound compared with March. The NBFC has a liquidity chest of around three months’ requirement.
Vedanta/Hindustan Zinc: Promoter Vedanta had encumbered 8.05 crore shares of subsidiary Hindustan Zinc on April 28, representing 1.91% of the total share capital of the latter, for a loan to raise long-term working capital.
Indostar Capital Finance: The company will open its two-day offer for sale on May 3, where promoters Everstone Capital Partners II LLC and Indostar Capital will offload more than 1.93 crore shares, representing 14.21% stake of the company.
Ahluwalia Contracts: The company received an order worth Rs 2,450 crore from Rail Land Development Authority for redevelopment of Chhatrapati Shivaji Maharaj Terminus at Mumbai.
Infosys: The IT bellwether has collaborated with software provider SolarWinds to help the latter advance to a new SaaS model.
Indian Bank: The bank reduced treasury bills linked lending rates across tenors in the range of 5-25 basis points, effecting May 3, 2023. The bank has kept marginal cost of funds based lending rates unchanged across tenors.
Bharti Airtel: The Indian telecom major, along with Dialog Axiata Plc and Axiata Group Berhad, has signed a binding term sheet to combine operations of Bharti Airtel Lanka, the company’s wholly owned subsidiary with Dialog. The deal will see Bharti Airtel acquire a stake in Dialog, representing the fair value of Airtel Lanka.
Mukand: The company completed the sale and transfer of 25.71 lakh shares, or 5.51% of the overall shareholding, of Mukand Sumi Special Steel, its joint venture with Bajaj Group, to Jamnalal Sons. The company had sold the stake at Rs 574 apiece for a consideration of Rs 147.58 crore.
Thomas Cook (India): Desert Adventures Tourism, a wholly owned subsidiary of the company, has signed a memorandum of understanding with Yusuf bin Ahmed Kanoo Company to develop a destination management company in the Kingdom of Saudi Arabia.
Grasim Industries: Operations had to be stopped at the company’s VSF manufacturing unit in Harihar, Karnataka. Production is expected to be resumed at the facility in three to four weeks’ time.
Sterling & Wilson Renewable Energy: India Ratings and Research has downgraded the company’s long-term issuer rating to ‘IND BBB+’ from ‘IND A+’ and placed it on rating watch with negative implications
Godrej Consumer Products: During its meeting scheduled on May 10, the board will also consider a proposal to raise up to Rs 5,000 crore via non-convertible debentures.
Vedanta: Creates Pledge On 80.54m Hindustan Zinc Shares On April 28 || Co Pledges 1.91% Of Hindustan Zinc Share Capital For Loan
Indostar Capital: Says Ofs On May 3 And May 4 Offer For Sale Of 19.34m Shares Ofs Floor Price Rupees 95/Share
Shakti Pumps (India): Co Qualified In 21 States Under PM KUSUM III Scheme For Supply Of Off Grid Solar Photovoltaic Water Pumping Systems
Ahluwalia Contracts (India): Gets Order Worth 24.50b Rupees
B L Kashyap And Sons: Co Secured New Order Aggregating To 2.38b Rupees || Total Order Book As On Date Stands At 25.18b Rupees
Axiscades Technologies: During its meeting on May 6, the board of the company will consider a proposal to raise Rs 210 crore via non-convertible debentures to refinance existing debt.
Indostar Capital: Says Ofs On May 3 And May 4 Offer For Sale Of 19.34m Shares Ofs Floor Price Rupees 95/Share
Shakti Pumps (India):Qualified In 21 States Under PM KUSUM III Scheme For Supply Of Off Grid Solar Photovoltaic Water Pumping Systems
Adani-Hindenburg Case: Petitioner moves SC, opposes SEBI plea seeking 6-month extension to nvestigate Adani-Hindenburg allegations
NBCC bags Rs 749 crore govt order; shares surge 2%
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