Buzzing stocks: Tech Mahindra, Ceat, Asian Paints, Aditya BIrla Sunlife AMC, HDFC AMC, Greaves Cotton, Apollo Tyres, Chalet Hotels, Metropolis
Greaves Electric Mobility, the E-Mobility arm of Greaves Cotton, has announced the 100 per cent acquisition of Bestway Agencies Pvt. Ltd, which sells E-Rickshaws under the popular ELE brand. Last year in July, the company first announced their intervention with Bestway with 74 per cent stake and added e-rickshaw as part of the portfolio offerings. As per declared results, ELE E-rickshaws has seen tremendous growth over last year.
The board of Macrotech Developers Ltd has approved a proposal of raising of funds by way of further issuance of securities through any of the permissible modes (in one or more tranches), for an aggregate amount not exceeding ₹4,000 crore, subject to applicable laws and necessary shareholder/regulatory approvals, as applicable.
Asian Paints: A whistle-blower informed SEBI that money to buy a company called Paladin Paints and Chemicals (PPC) went from APL but its promoters Ashwin Dani and son Malav now control it in their personal capacity. SEBI has sought further details from the whistle-blower. However, Asian Paints in a clarification to the stock exchanges said that there was no related party transaction happened.
Apollo Tyres has launched the premium European brand, Vredestein in India. The Vredestein brand of tyres will be manufactured in India, and will cater to the premium and luxury segment in passenger cars, while the two-wheeler tyres from the brand would cater to the growing superbiking segment in India. Vredestein brand, known for its designer and high-quality tyres. While Vredestein Ultrac Vorti would cater to the premium luxury sedans like Mercedes, BMW, Audi, Land Rover and Volvo, Vredestein Ultrac would cater to the premium hatchback and sedans like Honda City, Maruti Suzuki Ciaz and Baleno.
The board of Minda Industries has approved the second tranche of Investment in equity shares of Strongsun Renewables Private Limited, the Special Purpose Vehicle. The committee has approved the acquisition of 3,07,850 equity shares of the face value of ₹10 each at ₹80 a share of Strongsun Renewables Private Limited, aggregating to ₹2.46 crore.
Chalet Hotels has arrived at a settlement with HAL in connection with cancellation of NOC for height permission in respect of its Residential Project at Koramangala, Bengaluru. This is a significant milestone towards resolution of the long-standing litigation and work on the project is expected to recommence in the near future, said Chalet Hotels.
The Board of Godawari Power And Ispat Limited has subscribed to the Preferential Offer made by Hira Ferro Alloys Limited (HFAL) for the second tranche of 9,00,000 equity shares at ₹195 a share. Subsequent to allotment, the GPIL’s holding in HFAL has increased from 50.72 per cent to 52.79 per cent in the enhanced capital of the latter.
The Board of Directors of Sportking India Ltd has approved the installation of Rooftop Solar Power Project of about 20 MW Capacity at their Existing Factory Units for captive consumption and same is likely to Implemented in 6-8 months. The Board has also discussed the progress of the implementation of additional 15 per cent Capacity (40,800 Spindles) for production of textile yarns, which is as per schedule.
Zuari Agro Chemicals Limited has announced that the NPK Plants are shut down due to planned outage for Inspection of the Atmospheric Ammonia Storage Tank at the port, which is meant for storage of the imported ammonia as raw material for the NPK Plants.
Metropolis Healthcare has completed the acquisition of Dr. Ganesan’s Hitech Diagnostic Centre Pvt. Ltd. (Hitech) along with its subsidiary Centralab Healthcare Services Private Limited in all cash deal for ₹636 crores. Acquisition has been funded through internal accruals and debt of ₹300 Crores.
Ravi Kumar Distilleries Ltd has announced that the Cancellation Order has been revoked and the FIRs filed by the Excise Department and the Police Department have been quashed by the Hon’ble High Court of Madras. The operations of the factory are resumed with immediate effect.
Deepak Fertilisers and Petrochemicals Corporation: The chemical player has raised ₹510 crore through the issue of equity shares to institutional investors. The company, which had launched its QIP issue on October 19, has fixed the QIP allotment price at ₹410. The issue closed on Friday.
Bharat Petroleum Corporation has informed the exchanges that its board has approved the merger of Bharat Oman Refineries Limited with itself.
Results Calendar: Aditya Birla Sunlife AMC, ANG Lifesciences, AurionPro Solutions, BigBloc Construction, Ceat Ltd, Coforge Ltd, Choksi Imaging, Colgate Palmoliv India Ltd, CSB Bank, Devki Leasing & Finance, Digicontent Ltd, HDFC AMC, Dhruv Estates, Divyashakti Granites, Dwarikesh Sugar Industries, Gujarat Mineral Development Corporation, Good Luck India, Hardcastle & Waud, Home First Finance co India, ICRA Ltd, Indus Towers, Jagran Prakashan, Kansai Nerolac Paints, Karda Constructions, LKP Securities, Maharashtra Scooters, Mangalam Organics, Newgen Software Technologies, Maruti Securities, Orbit Exports, Orient Cement, Prakash Industries, Quick Heal Technologies, Ramco Cements, Sagar Productions, Shangar Decor, Sharp India Ltd, Sheetal Diamonds, Som Datta Finance Corporation, Shriram Asset Management, SRF Ltd, Suven Life Sciences, Swaraj Engines, Tech Mahindra,Tilak Ventures, Vardhman Special Steels and Welcure Drugs & Pharmaceuticals.