Stock that will see action today: 26 March 2024

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Sanghvi Mover has incorporated wholly owned subsidiary “Sangreen Renewables Private Limited” to carry out business related to provide full-fledged turnkey services to independent power producers right from conceptualisation to commissioning of wind turbine genrator (WTG).

Andhra Paper said that in the manufacturing facility at Unit Rajahmundry, the planned maintenance shutdown has been extended approximately by another six days i.e. until March 30.

Warren Remedies Private Limited, a Wholly Owned Subsidiary of Indoco Remedies Limited has commenced its commercial production on March 24 from its Greenfield manufacturing facility located at Aurangabad, Maharashtra to manufacture Pharmaceutical Intermediates and Active Pharmaceutical Ingredients (APIs).

Mangalore Refinery and Petrochemicals Ltd said that Cheruvally Nivedida Subramanian (Independent Director) has vacated the office of Director of the Company w.e.f March 25. due to unforeseen circumstances and a conflicting commitment. She is cotensting as Parliament election as BJP candidate for Ponnani in Kerala.

Broadcasters Filesadmin.co Entertainment Enterprises, Sony Pictures Networks India, and Viacom18 have raised TV channel bouquet prices to offset rising content expenses that will affect monthly TV bills for consumers. Filesadmin.co hiked the price of its bouquets by over 9–10 per cent, while Sony’s bouquet prices have gone up by 10–11 per cent . Disney Star is yet to unveil its new bouquet pricing.

Paradeep Phosphates has said the Central Pollution Control Board has issued closue of notice to the company’s Odisha plant. The operations will remain closed till directions are complied with and till the plant gets a written permission to resume operations from the CPCB. Paradeep Phosphates said the plant is already shut for annual maintenance activities. The company said it eexpects to resolve the matter at the earliest.

RailTel has received a work order from the Centre for Development of Advanced Computing for VMWare virtualisation licences with three years support, amounting to ₹36.35 crore. The contract is to be executed by July 19, 2024.

Zydus Lifesciences has received tentative approval from the USFDA to market Letermovir tablets, 240 mg and 480 mg. The tablets are used to prevent disease caused by a virus called cytomegalovirus in people who have received a bone marrow transplant or kidney transplant, the company said in a stock exchange filing, adding that the drug will be manufactured at its formulation manufacturing facility at Ahmedabad SEZ, India.

Tech Mahindra has said that it will be merging its wholly owned step down subsidiary Born Group Inc with its parent company Tech Mahindra (Americas) Inc. “A plan of merger of Born Group Inc, wholly owned step down subsidiary of the company with its parent company Tech Mahindra (Americas) Inc (TMA), wholly owned material subsidiary of the company, has been approved by the respective companies on Friday, March 22,” the stock exchange filing said.

Maruti Suzuki has invested over ₹1.99 crore in technology-led startup Amlgo Labs Private Ltd. The carmaker said it will own an equity stake over more than 6.44 per cent in the startup. The investment is being made via the Maruti Suzuki Innovation Fund, an initiative to undertake strategic investments in startups that exhibit high levels of technological innovations.

Puravankara has launched a residential project ‘Purva Kensho Hills’ at Medahalli, Sarjapura in Bengaluru.

Joint venture of LTIMindtree and Aramco will mirror India’s strategy to build a technology talent pool in Saudi Arabia and enhance women’s employment in the country, a senior official of the Indian IT company said. LTIMindtree and Aramco have formed a joint venture to create a next-generation digital and IT services company in Saudi Arabia to provide technology services for the rapid digitisation of the Saudi market and build a local talent pool over a period of time.

IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) will undergo a special audit to further probe their regulatory breaches, as the Reserve Bank has initiated the process for the appointment of auditors. The Reserve Bank has floated two separate tenders for the appointment of auditors for special audits of these two non-banking finance companies.

Berger Paints Ltd it will produce a stabilising agent for its paints using technology from a college run by the Ramakrishna Mission at Belur in West Bengal’s Howrah district. The company has signed a technology transfer agreement to explore pilot-scale and subsequent industrial-scale production of green ammonia by an electrocatalytic method without using green hydrogen.

Garden Reach Shipbuilders & Engineers has signed a contract with MEA for short refit of Seychelles Coast Guard Ship Zoroaster.

Welspun Corp’s associate company East Pipes Integrated Company for Industry (EPIC) and Saudi Arabia’s leading manufacturer of HSAW Pipes, has announced mutual agreement with Aramco to stop and cancel a SAR 153 million (approx ₹339 cr) contract, as the contract was not included in EPIC’s production schedule in current fiscal.