Daily Stock Market News

Stocks that will see action today (May 24)

Olectra Greentech on Monday said it has bagged the biggest ever order worth Rs 3,675 crore for supplying 2,100 electric buses from Brihanmumbai Electric Supply & Transport (BEST). According to a company statement, Evey Trans Private Ltd (EVEY) has received the Letter of Award (LoA) from BEST. EVEY should procure these 2,100 Electric Buses either directly by itself or through its Special Purpose Vehicle from Olectra.

FMCG major Marico on Monday said it has acquired a majority 54 per cent stake in the digital-first healthy breakfast and snacks brand True Elements for an undisclosed amount. The homegrown firm has acquired a 54 per cent equity stake in HW Wellness Solutions, which owns brand True Elements, through primary infusion and secondary buyouts, said a company statement. True Elements’ existing leadership team will continue to run the brand independently and build synergies, it added.

Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their business.

The Board of Schaeffler India Limited has approved the sale of chain drive business undertaking of the company as a going concern on a slump sale basis to Catensys India Private Limited (CIPL) for a lump sum cash consideration of approx. Rs 27.40 crore. The final consideration is subject to the adjustments as on the date of sale as per the terms of Business Transfer Agreement to be executed.

Natco Pharma has given an update that FMC Corporation has filed a suit against it for a Process Patent # IN 298645 in the Delhi High Court today. Patent IN 298645 covers a Process to prepare Chlorantraniliprole (CTPR) that is set to expire on December 6, 2025.

The Board of Pitti Engineering Solutions, which earlier approved a capex of ₹270 crore, has reviewed the ongoing capex as well as the current business plan. The company has decided to approve an additional capex of ₹197 crore towards construction of factory buildings, reorganising of manufacturing facilities, automation as well as enhancing the machining capacities from 4,03,600 hours to 6,48,000 hours. The cumulative capex budget of ₹467 crore (including initial capex of ₹270 crore and additional approved capex of ₹197 crore) being funded by intemal accruals / issue of securities / unsecured loans and long-term borrowings from banks / financial institutions / ECB.

Rupa & Co on has announced that accepted the resignation of Chief Executive Officer Dinesh Kumar Lodha and Chief Financial Officer Ramesh Agarwal. Both resignations will be in effect from May 31. He would be replaced by Sumit Khowala as the Chief Executive Officer (Key Managerial Personnel) with effect from June 1. The company further stated that Agarwal will continue to hold the Whole Time Director position at the firm

Khaitan Chemicals and Fertilizers Ltd has entered into an agreement to sell its used plant & machinery, iron scraps & building scrap etc. of Solvent Extraction Plant (Soya Plant), Dosigaon Industrial Area, Dosigaon, Ratlam – 457001 (MP).

The board of Apex Frozen Foods has approved to increase the capacity of ready to eat products from 5,000 tones per annum to 10,000 tpa.

The board of Rungta Irrigation Ltd has approved the proposal to raise ₹12.17 crore by way of issue of equity shares to its eligible shareholders on a right basis. The entitlement ratio has been fixed as 1:1.25 (one share for every 1.25 shares) at ₹11 a share.

Results Calendar: Acrow India, Adani Ports and SEZ, Authum Investment, Amrutanjan, Asian Granito, Aster DM Healthcare, Axis Cades, Balkrishna Paper, Balrampur Chini Mills, Bank of India, Bayer Crop, Birla Cable, Birla Precision, Bombay Cycle, Choice International, Compucom Software, Dalmia Bharat Sugar, DCW, Deccan Cements, Dharamsi Morarji Chem, eClerx, Emkay Global, Euro Asia Exports, Globus Spirits, Gokul Refoils, Grasim Industries, Gujarat Alkalies, Haldyn Glass, Hindoostan Mills, Hindustan National Glass, Hindustan Fluorocarbons, Indian Metal Ferro Alloys, IPCA Lab, JM Financial, Jyothy Lab, Kaya, KIOCL, Kirloskar Brothers, Latent View Analytics, Lumax Ind, Manali Petrochem, Metropolis, MM Rubber, MTAR Tech, Next Mediaworks, National Fertilizers, NIIT, PTC India Financial, Phoenix, Poly Medicure, Prime Securities, RailTel, Shree Renuka Sugars, Revathi Equipment, RITES, Subros, Technofab, Uniphos Enterprises and Zee Media.

Published on

May 24, 2022

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