Stocks that will see action today: December 4, 2023

Hindustan Unilever Limited (HUL) has announced key changes and appointments to its Management Committee (MC), deepening the focus in the Beauty and Personal Care (BPC) division and reinforcing the digital agenda to make HUL even more future ready. The Beauty and Personal Care division will transition into dedicated Beauty & Wellbeing (B&W) and Personal Care (PC) businesses. This change will be effective April 1, 2024. Madhusudhan Rao, Executive Director, B&W and PC has decided to retire from the Company. Harman Dhillon will join the HUL MC as Executive Director, Beauty & Wellbeing. Kartik Chandrasekhar will join the MC as Executive Director, Personal Care. Harman and Kartik will assume their new offices from April1 .

Tata Power has won the bid to acquire Bikaner-III Neemrana-II Transmission Limited, a project special purpose vehicle (SPV) set up by PFC Consulting Limited, a subsidiary of Power Finance Corporation. The company received the letter of intent (LOI) after emerging as a successful bidder in the Tariff-Based Competitive Bidding (TBCB) process, as per the guidelines issued by the Union Ministry of Power.

Granules India has announced that the US Food & Drug Administration (US FDA) has approved its Abbreviated New Drug Application (ANDA), filed by Granules Pharmaceuticals, Inc. (GPI), a wholly owned foreign subsidiary of the company, for Sildenafil for Oral Suspension, 10 mg/mL. It is bio-equivalent and therapeutically equivalent to the reference listed drug (RLD), Revatio for Oral Suspension, 10mg/ml, of Viatris Specialty LLC. Sildenafil for Oral Suspension is indicated for the treatment of pulmonary arterial hypertension (PAH) (World Health Organization [WHO] Group I) in adults to improve exercise ability and delay clinical worsening.

The US FDA had conducted an inspection at Alkem Laboratories Limited’s API manufacturing facility located at Mandva from November 27 to December 1. At the end of the inspection, the Company has received Form 483 with three (3) observations. There is no data integrity observation. This Inspection is part of the routine business operations and the Company shall submit to US FDA within the stipulated timeline, a detailed response to close out the said observations.

Tata Consumer Products, the consumer products company uniting the principal food and beverage interests of the Tata Group under one umbrella, has announced the appointment of Ashish Goenka as Group Chief Financial Officer. This is in line with the Company’s focus on building a future ready organisation and strengthening its capability.

Avantel Ltd has received a Provisional Purchase Order worth of Rs.67.92 crore vide mail dated December 2, 2023, from NewSpace India Limited. The order is for Supply, Installation and Commissioning of Satcom Terminals (Xponders).

AstraZeneca Pharma India Limited has received permission to import pharmaceutical formulations of new drug for sale or for distribution in Form CT-20 from Central Drugs Standard Control Organisation for Budesonide Ph. Eur 160mcg+ Glycopyrronium Ph. Eur 7.2mcg+ Formoterol Fumarate Dihydrate Ph. Eur 5mcg inhalation preparations. The receipt of this permission paves way for the launch of these drugs in India for the above specified indication, subject to the receipt of related statutory approvals, if any.

Lemon Tree Hotels Limited announces the opening of Lemon Tree Hotel, Dapoli. This is the tenth property of the group in Maharashtra. The hotel offers 50 rooms, Citrus Café – a multi-cuisine coffee shop, Slounge – the hip recreational bar as well as banquet & conference spaces for all event requirements. It also a well-equipped fitness center and a refreshing swimming pool to keep you feeling fresh-as-a-lemon.

The Board of Directors of Prime Securities Ltd has considered and approved the acquisition of 60 per cent equity stake in Prime Global Asset Management Pte. Ltd., a Singapore based Company, by Prime Research and Advisory Ltd, a wholly owned subsidiary of the Company. PGAM will undertake the fund management business and offer its services to global institutional investors and family offices. The remaining shareholding of PGAM will be held equally by Anil Ahuja and Ajay Abrol, both Singapore residents, who will also act as Directors and operating team of PGAM. The acquisition is subject to execution of definitive documentation, regulatory / statutory approvals as may be required under applicable laws.

The Board of Directors of Sadhna Nitro Chem has approved the fundraising by way of an issuance of equity shares of face value of Rs 1 each of the Company to its eligible equity shareholders, subject to receipt of necessary approvals from regulatory authorities, as applicable. The rights issue price has been fixed as Rs 121 per Equity Share. The aggregate size of the issue will not be exceeding Rs 49.95 crore. The rights issue serves the primary objective of financing the acquisition of a 126-acre plot of land. The funds would be predominantly used for land acquisition. 

Harsha Engineers International Ltd has entered into an agreement with Goldi Solar Private Limited to jointly bid for the tender ACE issued by Surat Municipal Corporation for EPC of 10 MW (AC) Ground Mounted Grid Connected Solar Photovoltaic Power Plant with Land on lease at any location of Gujarat with comprehensive maintenance up to 10 years including free maintenance during first year.

Mahindra EPC Irrigation Limited has been awarded One contract by Office of the Chief Engineer, Micro Irrigation Programme for supply of Micro Irrigation Systems worth approx. Rs 2.45 crore.

RSWM Ltd has signed a binding term sheet with Ginni Filaments Limited for proposed acquisition of its Spinning, Knitting and Processing Undertaking situated at Mathura on Slump Sale basis at an enterprise value of Rs 160 crore which is expected to be completed within ninety days of execution of term sheet subject to execution of definitive documents and receipt of necessary approvals. This acquisition is expected to result in an increase in turnover, employee strength, and plant capacity thereby marking a pivotal moment for RSWM Limited and will establish them as market leaders.

Omaxe Limited has acquired 7500 Equity Shares representing 75 per cent of the Equity Share Capital of its Associate Company namely, FBD Real Grow Private Limited in which the Company had pre-acquisition holding of 25 per cent of the Equity Share Capital. Consequent to the above, FBD has become wholly owned subsidiary of the Company with effect from December 1. In addition, the Company has also acquired, 90,000, 12 per cent Fully Convertible Debentures representing 100 per cent of the Debentures of FBD.

KPI Green Energy Limited has announced that new orders of 4.40 MW for executing solar power projects received by Sun Drops Energia Private Limited, a wholly owned subsidiary of the Company under ‘Captive Power Producer (CPP)‘ Segment of the Company. With addition of the order mentioned above, the cumulative orders of solar power projects, till date have crossed 148+ MW under CPP segment of the Company.

Stelis Biopharma & Syngene have executed the final agreements to transfer its Unit 3 multi-modal facility in Bengaluru to Syngene with the following modifications: Gross consideration adjusted from Rs 70.20 crore to Rs 61.70 crore – a reduction of Rs 85 crore. This is on account of amongst other things Stelis retaining 10 single use of 2KL (20,000 litres) reactors not currently installed in the facility.

The Board of Directors of LG Balakrishnan & Bros Limited approved to enter into a Business Transfer Agreement (BTA) with LGB Forge Limited (LGBFL) to purchase its Pondicherry Plant, as a going concern, on slump sale basis, for a lump sum consideration of R 15 crore, without values being assigned to individual assets and liabilities, on the terms and conditions more specifically defined in the said agreement.

HFCL Ltd along with its material subsidiary, HTL Limited, has received the Purchase Orders aggregating to ~INR 67 crores for supply of Optical Fiber Cables to one of the domestic Telecom Service Providers of the Country.

Salasar Techno Engineering Ltd engaged in manufacturing of large & heavy steel structures, and providing customized steel structures and EPC soluIons to diverse range of industries including telecom, power, railways and others has bagged an EPC contract worth Rs. 364 crore.

The Joint Venture of GPT Infraprojects Limited has received the arbitration amounts from the respective Customer, pursuant to which the Company’s share has been transferred to its bank account. GPT Rahee JV – Ganga Bridge Fabrication Contract vide agreement no IRCON/2044/Ganga Bridge/05 dated January 22, 2009 – Customer: IRCON International Limited – Amount settled under the Vivad Se Vishwas II Settlement Scheme – Rs. 728.85 Lakh – 57 per cetn is the shareholding of the Company in the Joint Venture.

GMM Pfaudler US Inc., (a wholly owned subsidiary of GMM Pfaudler Ltd) has completed the acquisition of Professional Mixing Equipment Inc.

Bright Outdoor Media Limited clinches the prestigious “Western Railways – Bulk Advertising Right for Display of Advertisements” by securing the erection of 18 new hoarding structures spanning 17,555 sq. ft. This seven-year contract marks a significant milestone for the company.

EP Biocomposites has received an order for design, supply, installation, testing and commissioning of sewage treatment plant (STP) of 100 KLD capacity (MBR based) including civil and electrification work with all necessary utilities from Oil and Natural Gas Corporation Limited. The order value is Rs 72.28 lakh. The prestigious order represents around 10% of the entire turnover from the previous financial year 2022-23 and is proposed to be completed within financial year 2023-24.

Shelter Pharma Limited has secured a noteworthy order from Taha Drugs & Chemicals Co. Ltd for the product of Allvitamins Tablet Nutraceutical 60000 Box and Joemega Capsule Nutraceutical 60000 Box worth Rs 1 Crore approximately.

Trishakti Industries Limited has recently obtained a significant contract from a renowned Public Sector Undertaking (PSU) in the oil and gas industry. The contract involves the supply of oil and gas-related products, and we consider it to be a material event that requires immediate disclosure to the stock exchange. This contract is expected to have a positive impact on the financials and operations of the company. This venture represents a significant milestone in company’s growth and is inline with its strategic objectives.