Stocks In Focus Today: SpiceJet, Dr Reddy’s, LIC, Wipro, Patanjali and More

Posted on by

Spice Jet Promoter Ajay Singh will inject Rs 500 crore into the airline – a move that will help boost its financial position amid multiple headwinds. The new equity infusion will help the carrier access additional credit facilities worth Rs 206 crore under the Emergency Credit Line Guarantee Scheme (ECLGS), it said in a statement on Wednesday.

board of directors Birla Estates Private Limited (BEPL), a wholly owned subsidiary of Century Textiles and Industries Ltd, has agreed to acquire a plot of land located at Kalwa, Maharashtra, from Hindalco Industries Limited for Rs 595 crore to be paid over time in multiple tranches and 1.5 per cent sales proceeds. .

Power Finance Corporation (PFC) Draft shelf prospectus to raise up to Rs 10,000 Crore through Non-Convertible Notes. Of the net proceeds, at least 75 percent will be used for the next lending, financing/refinancing of existing company debt and the remaining balance for general corporate purposes.

Also read: HCLTech’s First Quarter Results: After a weak quarter, meeting FY24 guidance will be challenging

Dr. Reddy Labs He said Wednesday that a biosimilar authorization application for a proposed biosimilar rituximab candidate has been accepted for substantive review by the U.S. Food and Drug Administration. This comes after rituximab’s biosimilar profile was accepted for review by two other regulatory agencies – the European Medicines Agency (EMA) and the UK’s Medicines and Healthcare products Regulatory Agency (MHRA).

Patanjali Foods said on Wednesday The offer to sell (OFS) by one of its promoters, Patanjali Ayurved, will be opened at a minimum price of INR 1,000 per share, on Thursday (for non-retail investors) and on Friday (for retail investors). Patanjali Ayurved plans to sell up to 9 percent of its stake to meet the minimum public shareholding base. The floor price is at a steep 18.36 per cent discount to Wednesday’s closing price of INR 1,225 on BSE.

Life Insurance Corporation The shareholding of Tata Consumer Products increased from 5.060 per cent to 7.065 per cent. The company bought about Rs 1.86 crore shares at an average price of Rs 770.69 between 2 May 2022 and 11 July 2023.

LIC said its stake in Deepak Nitrite Ltd increased from 5.028 percent to 7.089 percent. It bought about 28.11 lakh shares at an average price of $2,152.73 between 28 September 2022 and 11 July 2023.

Dream Folks The Plaza Premium Group, a leading global provider of airport hospitality services, has announced a collaboration to include over 340 Plaza Premium Lounges in over 70 major international airports in DreamFolks’ global lounge network, providing an enhanced travel experience for its members worldwide as of July 24th.

Also read: Intraday trading guide for July 13, 2023

Sealmatic is certified with ISO 19443 for Nuclear Applications and the company claims to be the only mechanical sealing company in India/worldwide to have the distinction of attaining this certification.

Goblin India’s board of directors on Wednesday considered and approved a proposal to divest the company’s stake/investment in its wholly owned subsidiary such as Goblin France SARL.

Sorana Solar entered into a slack sale agreement with SML Electricals India Private Ltd to sell its wind power business for $1.60.

Also read: Shares to buy today: Indian Bank (£324.45)

Evaluating the results: Acrow India, Aditya Birla Money, Angel One, Avantel, Bhansali Engineering, Compuage Infocom, Federal Bank, GI Engineering, Longview Tea, Nakoda, Rose Labs, Saptak Chem, Sterling & Wilson Renewable, Tata Metaliks, Wipro.