Stocks to watch on May 2, 2023
board of directors Central Bank of India Approved to raise the combined share capital up to Rs 2,500 crore within FY24 through Follow-up Public Offer (FPO) / Rights Issue / Qualified Institutional Placement (QIP) / Preferential Issue or any other status or combination thereof and/or by issuance Basel III compliant AT1/Tier 11 notes or such other securities as may be permitted under applicable laws subject to market conditions and necessary regulatory approvals.
board of directors Axis bank He agreed to appoint Subrat Mohanty as a full-time director, who was appointed as the ‘Chief Executive Officer’ of the bank, with effect from 1 May. Mohanty will be CEO for a period of three years and is subject to approval by the Bank’s shareholders and RBI.
Biocon Biologics, a subsidiary of Biocon, said that its integrated multi-product, monoclonal (B3) pharmaceutical manufacturing facility at Biocon Park in Bengaluru, has received GMP compliance certification for an additional product, the biosimilar Bevacizumab, from a representative of the European inspection body, the Health Products Regulatory Authority (HPRA), Ireland. Last year, B3’s facility received EU GMP certification for the manufacture of biosimilars.
Blue Star Ltd Plans for The issuance of the first ever bonus shares. It is one of the agenda items at the board meeting scheduled for Thursday. The company has never issued bonus shares before although it has been a consistent dividend payer and has an unbroken track record since 2006. The company has ample reserves for issuing bonus shares and paying dividends.
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Bharti Enterprises and Brookfield Asset Management, on May 1, announced the closure of a joint venture agreement for a 3.3 million sq ft portfolio of commercial real estate in the Delhi-NCR and Punjab region. A Brookfield-managed real estate fund will now hold a 51 per cent controlling stake in the joint venture, while Bharti Enterprises will continue to hold a 49 per cent stake. The two companies said in a statement that the project value of the transaction is ₹5,000 crore.
Patanjali Foods Limited (formerly known as Ruchi Soya Industries Limited) has signed a non-binding, non-enforceable Memorandum of Understanding with the Government of Telangana to set up a food processing unit in Uppalancha village in Nalgonda district with a capital investment of Rs. 1,050 crore.
Gujarat Containers Ltd has laid out an expansion project at GIDC, Dahej, with an expected production capacity of 75,000 barrels per annum, at a total cost of Rs 18 crore, which is being funded from internal accruals. The project is likely to start trial production by June and begin commercial operations by July.
Prince Pipes and Fittings, which has been in the process of migrating to a global ERP system from a legacy system since April 3, said the migration issues have been largely resolved and normalcy is now maintained across functions. Prince Pipes and Fittings Limited is committed to executing its expansion business as per plan.
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board of directors IDBI Bank Granting approval to sell an additional interest of 0.01 per cent of the paid-up share capital of National Securities Depository Ltd (NSDL). Thus, revising the bank’s total share liquidation up to 11.11 percent of the NSDL’s paid-up share capital.
Mercury EV-Tech Limited (formerly Mercury EV-Tech Limited). Mercury Metals Limited) in developing innovative and advanced electric mobility solutions in India. Powermetz Energy Private Limited, a subsidiary of Mercury EV-Tech Limited, has received an open order of Rs 110 crore for the supply of E2W batteries to one of the leading 2W EV manufacturers in India.
The Board of Directors of Kranti Industries has approved the merger proposal between Kranti Industries Limited and its wholly owned subsidiary i.e. Wonder Precision Private Limited.
SEBI imposed a penalty of ₹ 10 lakh on Angel One (formerly Angel Broking Limited) for failing to comply with several regulations and operational circulars as a stockbroker and depository participant.
PNB Housing Finance promoted Punjab National Bank (PNB) collected ₹2,494 crore from the rights issue to fund business growth. PNB Housing Finance said in a statement that the issue closed on April 27. The company intends to use the net proceeds of the issuance to increase its capital base.
Evaluating the results: Ambuja Cement, Astec Lifesciences, Adani Total Gas, Birla Cable, BMW Industries, Cigniti Tech, Control Print, DCM Shriram, Fino Payments Bank, Gallops Enterprises, Hilton, Home First, Jay Synthetics, Jet Infra, Jindal Hotels, KEI Industries, Ludlow Jute, Moldtec, Natural Biocon, New Gen Software, NK Industries, Punjab & Sind Bank, Sasken, Spandana Sphoorty, Tata Steel, UCO Bank, Urja Global, Varun Beverages and Yasho Industries.