Stocks that will see action on May 26, 2023
Prague IndustriesObtained the approval of the Board of Directors to form a joint venture in the proportion of 50:50 with Indian Oil Corporation For biofuel production facilities and marketing of CBG, ethanol, SAF and other joint products. Both companies will inject Rs 50 lakh into the joint venture. The company reported a consolidated profit of Rs 88.1 crore for the quarter ended March FY23, up 53 per cent over the year-ago period, while revenue from operations grew by 21 per cent to Rs 1,004 crore, compared to the same period last year.
Reliance Consumer Products, an arm of FMCG and a wholly owned subsidiary of Reliance Retail Ventures (a subsidiary of Reliance Industries), completed the acquisition of a 51 per cent controlling stake in Lotus Chocolates for Rs. 74 crore, and subscribed to non-cumulative redeemable preference shares of the company for Rs. 25 crore. Reliance Consumer Products has also completed the equity share acquisition pursuant to the open offer and has sole control of Lotus as of May 24.
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Page industries: The exclusive licensee of Jockey International Inc (USA) has appointed Deepanjan Bandyopadhyay as Chief Financial Officer of the office with effect from 1st June, following the retirement of the current Chief Financial Officer Chandrasekar K due to his retirement with effect from 31st May.
Religare Finvest, a subsidiary of Religer Enterprises, obtained Non-Due Certificates (NDC) from all 16 secured lenders (one-time settlement) for their total outstanding dues, including dues towards their unsecured exposure. In March, Religare Finvest completed the full OTS payment of Rs 2,178 crore to all 16 secured OTS lenders. Accordingly, the OTS platforms were completed.
board of directors Max India It has agreed to inject Rs 294 crore into its wholly owned subsidiaries – Rs 177 crore for Antara Senior Living, Rs 117 crore for Antara Assisted Care Services – to meet financing/expansion requirements of the business.
Evaluating the results: ABC India, Aditya Spinners, Alphageo, Ambica Cotton, Astra Microwave Products, Avalon Technologies, Batliboi, BEML, BHEL, BL Kashyap and Sons, Chambal Fertilizers & Chemicals, City Union Bank, Easy Trip Planners, Edelweiss Financial Services, Finolex Cables, Engineers India, Gateway Distriparks, Grasim Industries, HUDCO, Indigo Paints, Inox Wind, Karnataka Bank, Kanoria Chemicals, MOIL, Oil and Natural Gas Corporation, Mahindra & Mahindra, Info Edge (India), NCC, PNC Infratech, Shree Renuka Sugars, Samvardhana Motherson International, Sundram Brake Linings, Sun Pharmaceutical Industries, Sunteck Realty, and Wockhardt.