Stocks that will see action today—September 7, 2023

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Mastek has announced its partnership with Restek Corporation, a leading player in the analytical industry. The partnership signifies a milestone as Restek transforms its global online experience through a modernised e-commerce and content delivery platform, the company said.

Tata Consultancy Services has entered into a strategic partnership with the digital unit of JLR to transform, simplify, and help manage its Digital estate, and build a new future-ready, strategic technology architecture that will support the latter’s Reimagine strategy. As a part of the new partnership, TCS will deliver a broad range of services spanning application development and maintenance, enterprise infrastructure management, cloud migration, cybersecurity and data services.

TVS Motor Company has unveiled the latest addition and a new flagship to its iconic Apache line-up: the TVS Apache RTR 310.

Sonata Software has announced that Sharmila Sherikar has joined the organisation as Senior Vice President and Head of Corporate Development. Sharmila joins Sonata with more than three decades of industry experience in change management and corporate development programs.

RITES Limited has signed a Memorandum of Understanding (MoU) with iHUB DivyaSampark, IIT-Roorkee, to jointly explore business opportunities related to innovative technologies.

Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, has completed the integration of the acquired biosimilars business from Viatris in North America (United States and Canada) effective September 1 to further strengthen its leadership position in the global biosimilars industry and provide complete end-to-end capabilities to patients and customers. Biocon Biologics recently acquired the global biosimilars business of its long-term partner Viatris. Since the agreement closed in November 2022, Biocon Biologics has executed a robust integration plan to ensure a seamless transition of partners, people, systems, and processes.

Lupin Limited has forged a unique collaboration with Mark Cuban Cost Plus Drug Company (Cost Plus Drugs), a pioneer in affordable medicines, and the COPD Foundation, dedicated to enhancing the lives of COPD patients. This collaboration aims to bolster access to healthcare by expanding the availability of Tiotropium Bromide Inhalation Powder, 18 mcg/capsule, to COPD patients in the US.

Lemon Tree Hotels announced its latest signing–Lemon Tree Hotel, Mashobra. The property is expected to be operational by Q1 of FY26 and will be managed by Carnation Hotels Private Limited, a wholly-owned subsidiary and the management arm of Lemon Tree Hotels Limited.

Meghmani Finechem Ltd will change its name to ‘Epigral Limited’. Continuing its commitment to accelerated value creation growth plan since 2019, Epigral has been steadily working on internal transformation and enhancing its core performance benchmark, per the company.

Steel Strips Wheels Limited has announced that the promoters along with the persons acting in concert holds 97457601 equity shares in the company, which is 62.27 per cent of the total paid up share capital of the company and out of which 7295000 equity shares were pledged which is 4.66 per cent of total paid up capital of the company and 7.48 per cent of total promoter shareholding. On September 5, 25,00,000 shares were released from pledge. Accordingly, now the total number of equity shares pledged has reduced to 3.06 per cent.

Reliance Retail Ventures has signed a joint venture with Alia Bhatt’s kids and maternity-wear brand, Ed-a-Mamma for a 51 per cent majority stake. Besides, Reliance in a separate statement said that subsidiary has received the subscription amount of Rs 8,278 crore from Qatar Holding LLC (QIA) following allotment of 6,86,35,010 equity shares to QIA..

The Competition Commission of India (CCI) has cleared Rhone Capital’s proposed acquisition of a 29.9 per cent stake in RHI Magnesita NV. Ignite Luxembourg Holdings is owned and controlled by US-based private equity firm Rhone Capital, which is an affiliate of Rhone Group. Rhone Holdings in July accepted to buy 94 lakh shares, a 19.95 per cent stake instead of its original proposal of buying 1.41 crore shares (29.9 per cent stake) at GBP28.5 per share in cash.

Varroc Engineering has entered into power purchase agreement with special purpose vehicles – AMP Energy C&I Twenty One, AMP Energy C&I Twenty, and AMP Energy C&I Twenty Two. The company will acquire 26 per centstake in SPVs for establishing renewable power plants in Maharashtra with combined captive capacity of 33.10 MWp / 22.01 MWac, under captive power scheme.