Stock that will see action today: 24 October 2024

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Mankind Pharma on Wednesday said it has completed the transaction to acquire Bharat Serums and Vaccines Ltd (BSV), for a consideration of Rs 13,768 crore. This strategic move marks a significant leap for the company, positioning it as a market leader in the Indian women’s health and fertility drug market alongside access to other high entry barrier products in critical care segment with established complex R&D tech platforms, the drug maker said in a statement.

Hindustan Unilever ]is separating its ice cream business, which owns brands as Kwality Wall’s, Cornetto and Magnum, and has done an independent valuation to have a fair idea. The board of HUL on Wednesday decided to demerge the ice cream business, based on the recommendation of an independent committee, which was formed by the FMCG major in September this year.

TCS has announced a partnership with FICO to deliver advanced optimization and decision management solutions to businesses across various industries globally. TCS plans to leverage the FICO platform to develop industry-specific solutions that are powered by real-time, fully interpretable analytics, machine learning, and advanced AI models.

Infosys has unveiled its expanded Living Labs, designed to help clients accelerate innovation and adopt emerging technologies to future-proof their businesses. It also announced a partnership with the University of Cambridge to establish a new AI Lab in London. Furthermore, the company deepened its collaboration with Meta to advance innovation in generative AI through open-source initiatives.

Mahindra & Mahindra on Wednesday inaugurated two testing facilities, including the one to test the safety of its SUVs, at Kanchipuram in Tamil Nadu. The company formally opened a passive safety lab and a battery and cell research laboratory for its engineers to test the safety of SUV products at various load cases and perform research on cell technologies, the Mumbai-based auto major said in a regulatory filing. The laboratories, which have come up at an investment of over Rs 300 crore, are 55 km away from the Mahindra Research Valley (MRV) where all company SUVs are developed from scratch, it added.

NLC India has entered into a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam to establish a lignite-based thermal power station with a capacity of 3×125 MW in Rajasthan. The JV will also involve developing mines to meet the fuel needs of the power station. Additionally, its subsidiary, NLC India Renewables, has signed a separate Joint Venture Agreement with the same entity to develop 2,000 MW of renewable power projects in Rajasthan.

Gaming and esports company NODWIN Gaming, subsidiary of Nazara Technologies, on Wednesday said it has appointed Atin Suri as the Global Head of Experiential Marketing. Suri will lead NODWIN’s efforts in the worldwide expansion of experiential marketing, focusing on white-label events and activations, according to a company statement.

State Bank of India (SBI) on Wednesday said it has raised Rs 5,000 crore through issuance of its first Basel III-compliant Additional Tier 1 bonds for the current financial year. The bonds carry a coupon rate of 7.98 per cent, SBI said in a statement. The tenor of these bonds is perpetual with call option after 10 years and each anniversary date thereafter, it said.

Signature Global has completed a Sale Deed to sell its property located in the Haryana State Industrial Infrastructure Development Corporation at Udhyog Vihar, Phase-V, Gurugram, to Culture Holidays India for Rs 25.5 crore.

Escorts Kubota Ltd on Wednesday said it will sell its railway equipment business division to Sona BLW Precision Forgings Ltd for Rs 1,600 crore. The company has entered into a business transfer agreement with Sona BLW Precision Forgings Ltd (Sona Comstar) for transferring the railway equipment business division (RED) as a going concern, on slump-sale basis, Escorts Kubota Ltd (EKL) said in a regulatory filing. The transaction is being carried out for a lump sum cash consideration of Rs 1,600 crore subject to the terms of the agreement, it added

Atul Auto on Wednesday said its subsidiary has inked a pact with Exide Energy Solutions to explore a collaboration regarding supply of lithium-ion cells and battery packs for electric vehicles. Atul Greentech Pvt Ltd (AGPL) has entered into a non-binding memorandum of understanding (MoU) with Exide Energy Solutions Ltd (EESL) in this regard, Atul Auto said in a statement.

Results Calendar: ITC, IndusInd Bank, NTPC, ACC, JSW Energy, Colgate-Palmolive, Godrej Consumer Products, Aarti Drugs, Adani Total Gas, Adani Wilmar, Bikaji Foods International, Birla Cable, Capital SFB, Castrol India, Chalet Hotels, Coromandel International, CSB Bank, Cyient, DCB Bank, Diffusion Engineers, Dixon Technologies, GMR Airports Infrastructure, Go Digit General Insurance, Indian Energy Exchange, Ixigo, Mahanagar Gas, Nippon Life India Asset Management, Oracle Financial Services, Patanjali Foods, Petronet LNG, PNB Housing Finance, RR Kabel, Tata Teleservices, United Breweries, Ujjivan Small Finance Bank, VST Industries and Westlife Foodworld