Stocks that will see action today: June 23, 2023

Private equity firm TPG Capital is likely to sell 44 of the equity shares, or 11 percent, in Landmark Cars in a major deal on Friday, according to media reports. TPG Growth II SF Pte Ltd holds 11.25 percent or 44.56 lakh equity stake in the company as of March 2023

Housing Development Finance has made new investments in home interiors brand Bonito Design and Cognilements Pvt Ltd, also known as Relata, which provides technology solutions to real estate companies. HDFCIt said it had “executed definitive agreements to subscribe to 6,068 Bonito shares.” This gave the company a 3.86 percent shareholding and 5.13 percent voting rights, the regulatory filing said. In Relata, the investment was made via HDFC Capital Advisors Ltd (HCAL), a subsidiary of the company. HDFC also told the exchanges that it has divested its entire 9.65 percent stake in Ruralshores Business Services Pvt Ltd.

Eros International MediaManaging Director Sunil Arjan Lulla and CEO Pradeep Kumar Dwivedi have been restricted from holding any board positions or key management positions by the market regulator, through a temporary interim order issued on June 22. Worldwide FZ and Eros Digital Private Ltd. have been banned from accessing the stock exchanges until other applications as well due to the alleged diversion of funds by the promoters.

GE Aerospace, a US-based aircraft engine supplier, announced on June 22 the signing of a Memorandum of Understanding with the Indian Public Defense Corporation. Hindustan Aeronautics Ltd (HAL) to produce fighter jet engines for the Indian Air Force (IAF).

PNB Housing Finance The exchanges reported that they have received board approval to issue non-convertible notes of up to Rs. 5,000 crore in tranches on a private placement basis.

Kovorg In a notice to the stock exchanges, it said it had acquired the final tranche of shares from the remaining 20 per cent stake in Coforge Business Process Solutions for Rs 336.94 crore. In April 2021, it acquired 60 percent of the 80 percent stake in Coforge Business Process Solutions. Its total stake in Coforge Business Process Solutions (formerly SLK Global Solutions Private Ltd) is now 80 percent.

Gujarat Alkalies and Chemicals Limited It had earlier announced updates to its 10,000 tpa (80%) Hydrazine Hydrate project, with front-end integration with hydrogen peroxide, to manufacture an import alternative at the Dahej complex. The company has achieved commercial production of hydrazine hydrate in Dahej complex.

Fortis Healthcare Limited announced the signing of definitive agreements to sell its hospital business operations in Vadapalani, Chennai to Sri Kauvery Medical Care (India) Limited for a sale of Rs 152 crore. The transaction will be an all cash transaction and is expected to close by the end of July 2023, subject to certain terms as laid out in the final agreements.

Limited natural capsules Announced a significant milestone in its growth journey with a strategic investment from Somerset Indus Capital Partners, a prominent healthcare-focused private equity fund. The investment includes the acquisition of a minority stake in Natural BioGenex Private Limited (NBPL), an unlisted subsidiary of Natural Capsules Limited.

Larsen and Toubro (L&T), an Indian multinational high-tech infrastructure, manufacturing and services company with decades of outstanding competence in these areas, has strengthened its commitment to Saudi Arabia’s vision of a more diversified and self-sustaining economy by strengthening its focus on providing end-to-end solutions to its customers.