Friday, April 19, 2024
Home News Stocks to Watch: RIL, Hero Moto, Adani Group, Wipro, HFCL, L&T

Stocks to Watch: RIL, Hero Moto, Adani Group, Wipro, HFCL, L&T

RIL,

Reliance Industries :The nine-decade-old Syntex Industries Limited acquisition has been completed by the Mukesh Ambani-owned Reliance Industries (RIL). 1,500 crore in the yarn and fabric manufacturer based in Ahmedabad, which is better known for producing black plastic water tanks in the country. After Syntex was taken to bankruptcy court in 2020 for defaulting on loan repayments, RIL’s investment is part of a resolution plan that was submitted jointly by the group and Assets Care and Reconstruction Enterprise Ltd (ACRE).

Hero MotoCorp :India’s biggest bike producer Legend MotoCorp on Thursday advanced Niranjan Gupta as CEO with impact from May 1. Gupta currently serves as the head of strategy and mergers and acquisitions as well as the chief financial officer (CFO) of the business. The Executive Chairman and Whole-Time Director on the Board, Pawan Munjal, will continue. Gupta currently serves as the head of strategy and mergers and acquisitions as well as the chief financial officer (CFO) of the business. The Executive Chairman and Whole-Time Director on the Board, Pawan Munjal, will continue.

Adani Group: Adani Group executives have met US investors, including BlackRock Inc, Blackstone Inc and Pacific Investment Management Co, to market privately placed bonds for some of their group companies, according to people familiar with the matter. Under the plan to bring The billionaire Gautam Adani-led group is aiming to raise up to $1 billion through such a route in two tranches this year, said the people, who declined to be named as they were not authorized to speak about .

wipro: IT-giant Wipro on Thursday announced that Badri Srinivasan will lead the India and South East Asia business under the company’s APMEA Strategic Market Unit. Badree had joined Wipro in January last year as managing director for South East Asia. As the leader of the India and Southeast Asia businesses, Badri will lead these two regions to drive deeper synergies, facilitate the sharing of best practices, deliver consistent and exceptional customer experiences across the customer journey, and Increase Wipro’s ability to capitalize on its potential. Emerging growth opportunities.

HFCLTelecom gear maker HFCL on Wednesday said it has received a Rs 282.61 crore contract from Gujarat Metro Rail Corporation for installation of communication system for Surat Metro Rail Project Phase-I. The company will have to deploy the project within 90 weeks from the date of the contract. “..the company has received an order worth 282.61 crore from Gujarat Metro Rail Corporation (GMRC) Ltd, for design, manufacture, supply, installation, testing and commissioning of telecommunication systems for Surat Metro Rail Project Phase-I,” the company said in a regulatory filing.

L&T: two orders worth the middle 2,500 more Rs 5,000 crore has been placed with the Vedanta Group by Larsen & Toubro (L&T) Minerals & Metals (M&M) Business. Orders have been received for Bharat Aluminum Company Limited and Hindustan Zinc Limited to set up 5 LTPA fertilizer plants and increase the capacity of BALCO Korba, Chhattisgarh aluminum smelter complex to 435 KTPA respectively. L&T Construction said in a stock exchange filing that it has “received an order for setting up a 5 LTPA Fertilizer Plant for M/s.” Hindustan Zinc Limited (a Vedanta Group subsidiary).

JSW EnergyJSW Energy on Wednesday said it has completed the acquisition of 1,753 MW renewable energy assets from Mytrah Energy (India) Private Limited (MEIPL). 10,000 crores. “The transaction values ​​the Mytrah Energy portfolio at approximately an enterprise valuation 10,150 crore after net existing assets and other adjustments under share purchase agreements, JSW Energy said in a statement. It has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy.

Tilaknagar Industries: Alcoholic beverages company Tilaknagar Industries Limited on Wednesday said that it will invest 9.75 crore in Spaceman Spirits Lab Pvt Ltd which markets craft gin under the Sansar brand. Post investment, the company will hold 10% of the issued and paid-up share capital in SSLPL on a fully diluted basis. The investment will be made in two phases, Tilaknagar Industries said in a filing to the exchanges on Wednesday. This investment marks TIL’s entry into the premium craft gin segment.

Max Financial ServicesMax Ventures Investment Holdings, promoter of Max Financial Services, on Wednesday sold 30 lakh shares of the company. 182 crore through an open market transaction. The shares were bought by Plutus Wealth Management LLP. Max Ventures Investment Holdings sold 30 lakh shares of Max Financial Services, according to the block deal data available with BSE. Shares were sold at an average price of 606.6 per scrip, taking into account the total value of the transaction 182 crores.

Quess Corporation :On Wednesday, Quess Corp. reported that Fairfax Capital Mauritius Limited, which is also a promoter of the business, had acquired a 4.45% stake in it. A reverse book-building method was used by Fairfax Capital Mauritius Limited to acquire a stake in Quess Corp. It purchased 66,00,000 equity shares, or 4.45%. With this, Fairfax’s absolute stake in Quess Corp has gone up to 34.06 percent from 29.61 percent prior.

Alembic Pharma: Alembic Drugs on Thursday said it has gotten endorsement from the US wellbeing controller to showcase a nonexclusive item used to treat high liquid strain in the eye in the US market. In a statement, Alembic Pharmaceuticals stated that the US Food and Drug Administration (USFDA) has granted final approval for the company to market Brimonidine Tartrate Ophthalmic Solution. AbbVie Inc.’s Alphagan P Ophthalmic Solution is clinically equivalent to the approved product.

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