Stocks that will see action today: October 6, 2023

Shares of PB Infotech will remain in focus on reports that SoftBank Group plans to sell a 2.54 per cent stake in the company through block deals on Friday. The Japanese conglomerate is likely to sell the stake at a price range of Rs 752-767 a share in Policy Bazaar owner, the report added.

Mahindra EPC Irrigation Limited has been awarded two contracts for supply of pressurized Micro Irrigation Systems for 100.00 Ha. The contract value is approx. Rs. 6.74 crore.

IndiGo (InterGlobe Aviation) has re-commenced direct flights between Delhi and Hong Kong, effective October 5. This reinstatement aims to strengthen strategic ties, capitalising on the rich socio-cultural diversity between one of South Asia’s largest economies and a vital business and travel hub in the Asia-Pacific region. These flights will serve both business and leisure travelers during the upcoming winter schedule, providing enhanced flight options and a seamless travel experience.

Super Spinning Mills Limited has executed an Agreement for Sale of some of the immovable properties of the Company with Super Sara Textiles limited, An advance amount of Rs 4 crore has been received 

Tata Communications has completed of the acquisition of Kaleyra, Inc. Under the terms of the agreement, Tata Communications Limited has paid an aggregate consideration of approximately $100 million in cash and assumed all of Kaleyra’s outstanding debt. With this, Kaleyra, Inc. and its subsidiaries have now become wholly owned subsidiaries of Tata Communications Limited.

Global pharma major Lupin Limited has received tentative approval from the United States Food and Drug Administration for its Abbreviated New Drug Application for Tolvaptan Tablets, 15 mg, 30 mg, 45 mg, 60 mg, and 90 mg to market a generic equivalent of Jynarque® Tablets, 15 mg, 30 mg, 45 mg, 60 mg, and 90 mg, of Otsuka Pharmaceutical Co., Ltd. This product will be manufactured at Lupin’s Nagpur facility in India.

Advance Lifestyles Limited has announced that the October 13 shall be the record date for the purpose of ascertaining the eligibility of shareholders for entitlement for issue of Bonus Shares in the ratio of 1:1.

Infosys and Economist Impact, an arm of The Economist Group that works with organisations globally to further their missions, have announced the launch of the Value Chain Navigator (VCN) to help businesses understand and address their scope 3 emissions.

The President of India, acting through Ministry of Power, Government of India, is proposing to offer up to 1.81 lakh shares of face value of ₹10 each to the eligible employees of the company at a price of ₹70.10 a share. The Employee OFS will remain open from October 6 to October 10.

KPI Green has received new orders aggregating to 12.10 MW for executing solar power projects, out of which 3.10 MW capacity undertaken by KPI Green Energy Limited and 9 MW capacity by Sun Drops Energia Private Limited, a wholly owned subsidiary of the company under ‘Captive Power Producer (CPP)’ segment of the company. 

Engineering solutions provider Axiscades Technologies on Thursday announced the appointment of Abidali Neemuchwala as its Chairman and Non-Executive Director. The decision was considered and approved during the Board of Directors’ meeting held on October 04, 2023, Axiscades Technologies (Axiscades) said in a statement.

Panacea Biotech has received a notification from the International Court of Arbitration, Paris intimating that an Arbitration proceeding has commenced with respect to the Request for Arbitration filed by Apotex Inc., an entity based out in Canada. Apotex had alleged that Panacea has breached obligations under the Collaboration Agreement for Research, Development, License, Supply and Sale of Products dated. Subject to outcome of the above litigation, the contingent

liability for the matter stands at $118.14 million, the company said.

Mankind Pharma said that operations at its manufacturing facility at Daring Block, Berimok, Namchi Zilla, South Sikkim, have been disrupted due to disturbance in power/utility supply because of flash floods in river Teesta, since late night of October 4, 2023. There is no major disruption expected in supply chain as the manufacturing of the products have been diverted to other plants. The business operations of the Company continued as usual as the other plants are fully operational.

Zaggle Prepaid Ocean Services Limited has entered into a contract with BOB Financial Solutions Limited for Implementing Commercial card Onboarding & value-added services platform.

The board of Som Distilleries has authorised the opening of its fund raise and approved the floor price of Rs 349.24 for the issue.

Prism Johnson has received two demands orders from the Assistant Commissioner, State Tax, Mobile Squad, Ayodhya (U.P.) levying penalty aggregating ₹1.56 lakh under the CGST Act relating to transportation of goods under expired E-way Bills. The penalty has no material impact on the financials, operations or any other activities of the company.

Sun Pharmaceutical Industries Limited, along with its subsidiaries and/or associate companies, has entered into agreements to acquire minority stake in Ezerx Health Tech Private Limited (37.76 per cent stake) for ₹28.69 crore. Besides, the company, which had entered into an agreement to acquire 26.09 per cent stake in Agatsa Software Private Ltd, said has executed an additional agreement to acquire further 4.04 per cent from existing shareholders resulting in total proposed acquisition of stake to go up to 30.13 per cent of Agatsa.

Epavo Electricals Private Limited, Joint Venture Subsidiary of Ram Ratan Wires, has approved allotment of 2 croe shares aggregating to ₹20 crore on right basis to the existing shareholders of the Company. Accordingly, Ram Ratna Wires Limited has been allotted 1.48 crore shares for ₹14.80 crore.

In arbitration proceeding initiated by Bharat Heavy Electricals Ltd. (BHEL) against Jaiprakash Power Ventures Limited (JPVL) relating to ESP contract for 2 x 660 MW Jaypee Nigrie Super Thermal Power Project and BTG contract for 2 x 250 MW Bina Thermal Power Plant, the company said substantial claims of BHEL have been awarded by the Arbitral Tribunal.