Stocks that will see action today—March 20, 2024

Time Technoplast has received an approval from the Petroleum and Explosives Safety Organization (PESO) for the manufacturing of High Pressure Type-IV Composite Cylinder, Prototype, for Hydrogen. “The authority has advised us to manufacture first lot of cylinders for its joint testing and inspection. The testing of one per cent lot of cylinders will be completed in approx. six months’ time,” the company said.

The Board of Directors of SBI Cards and Payment Services Limited has declared an interim dividend of ₹2.50 (25 per cent) per equity share of the company for the financial year 2023-24. The Record Date for the purpose of determining the entitlement of payment of the dividend is March 28 and the dividend will be credited/dispatched on or before April 17.

Tata Consultancy Services has announced that Central Bank, a leading Midwest regional bank, will use TCS BaNC to update its core technology infrastructure, drive innovation, and strengthen customer relationships. Central Bank’s strategic partnership with TCS aims to create frictionless and flexible customer onboarding processes, enabling continued growth for the bank.

Aurobindo Pharma has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Mometasone Furoate Monohydrate Nasal Spray, 50 mcg/spray, which is bioequivalent and therapeutically equivalent to the reference listed drug (RLD), Nasonex Nasal Spray, 50 mcg/spray of Organon LLC. The product will be launched in Q1FY25. The approved product has an estimated market size of $44.5 million for the twelve months ending January 2024, according to IQVIA.

JK Cement has participated/submitted the winning bid for “Mahan Coal Block” and “West of Shahdol (South) Coal Block” in the recent Commercial Coal Mine E-auction organised by Ministry of Coal, Govt of India, on March 12 and 13. However, it may be noted that the allocation order is yet to be issued and Coal Mine Development and Production Agreement (CMDPA) is yet to be signed and the mine is yet to be vested by the company.

Apollo Hospitals Enterprise has announced appointment of Madhu Sasidhar as President of its hospital division. In this role, Dr Madhu will oversee Apollo’s hospital business and will focus on continuing to deliver the world’s best clinical outcomes, coupled with enhancing Apollo’s hallmark patient care and experience, it said.

Venky’s (India) Ltd has announced the project for manufacture of veterinary medicine products under its Animal Health Product Segment at Kesurdi village in Maharashtra, has been completed. The company has now started commercial production. This project is to manufacture veterinary medicines powders (600 tonnes/annum) and veterinary medicines liquids (300 kilolitres/annum) to cater the growing demand from poultry industry.

The board of IFCI approved preferential issue of equity shares to the Centre against a capital infusion of ₹500 crore for financial year FY24. The government currently holds 70.32 per cent stake in IFCI.

YES Bank, which had invited Expression of Interest for sale of identified stressed loan exposures through auction under Swiss Challenge Method, has concluded the transfer of exposure of the Bank in Katerra India Private Limited to Prudent ARC Limited, an asset reconstruction company, for cash consideration of ₹203.40 crore.

Persistent Systems said that it has entered into a share purchase agreement for the transfer of the 100 per cent shareholding of Persistent Systems UK Limited (stepdown subsidiary) from Aepona Group Limited, Ireland (stepdown subsidiary) to itself for cash consideration of GBP 74,30,000

Star Health and Life Insurance will remain in focus as ICICI Prudential Mutual Fund has acquired 0.6 per cent stake via block deals at an average price of ₹540 per share.

Sunil Singhania’s Abbakkus Asset Management has acquired 0.98 per cent stake in LT Foods at an average price of ₹162.04.

Deccan Gold Mines in an update said that it discovered high grade quartz veins, up to a maximum of 8.52 g/t gold grade, in the PL block 11524 in the Nzega – Tabora Greenstone belt and 1.2 A PL for Lithium and associated metals covering an area of 100.49 sq.km. The grant order in favour of Deccan Gold Tanzania Pvt Ltd is awaited.

Jattashankar Industries has authorised its Board of Directors for the sale of land and building situated at 77/78, Silvassa Piparia Industrial Estate, Dadra & Nagar Haveli, after obtaining prior approvals from members at the EGM.

EFC (I) Limited has announced that EFC LTd, wholly owned subsidiary, has been awarded a contract for Supply, Installation, Testing, Commissioning and Handing Over of Interior, MEP and Allied works at Tata Consultancy Services Ltd, IIT Delhi Research & Innovation Park, New Delhi. The company has begun the work of mobilisation of resources to complete the project well within the prescribed timelines as per the contract terms.