Stocks To Watch
📊Jio Financial Services
SEBI has granted in-principle approval to the company and BlackRock Financial Management Inc to act as co-sponsors and set up the proposed mutual fund.
📊GAIL (India)
The company has signed an MoU with AM Green to jointly develop renewable energy projects of up to 2.5 GW and green chemical projects. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy projects across India.
📊Lupin
The US FDA has issued five observations to the company's biotech facility in Pune following an inspection conducted between September 25 and October 4. The regulator completed a pre-approval inspection of this facility.
📊Antony Waste Handling Cell
The company's material subsidiary, AG Enviro Infra Projects, has secured a contract worth Rs 908 crore for door-to-door collection and transportation (C&T) of municipal solid waste from Navi Mumbai Municipal Corporation. The contract is for a duration of nine years.
📊Univa Foods
Sandhya Rani Koochana has resigned as Chief Financial Officer of the company with immediate effect due to personal reasons and preoccupation.
📊BLS International Services
The company has completed the acquisition of a 100% stake in Citizenship Invest, a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries, for $31 million (Rs 260 crore).
📊One 97 Communications (Paytm)
Manmeet Singh Dhody has stepped down as Chief Technology Officer - Payments, effective October 4, and has transitioned to a new role as an AI Fellow at the company. The board has approved the appointment of Deependra Singh Rathore as Chief Technology Officer - Payments, effective October 4. Previously, Deependra Singh Rathore served as Senior Vice President - Technology at Paytm.
📊Gravita India
The board has approved raising up to Rs 1,000 crore through the issuance of equity shares. Additionally, the board has appointed Sunil Kansal as Whole Time Director, effective October 4, re-designated Rajat Agrawal as Chairman and Managing Director, and accepted the resignation of Mahavir Prasad Agarwal as Chairman and Whole Time Director, effective October 5.
📊Reliance Chemotex Industries
Vinay Srivastav has resigned from his position as President of the company, effective October 4.
📊Mahanagar Telephone Nigam (MTNL)
The State Bank of India has downgraded MTNL's term loan account to a non-performing asset (NPA) as of September 28, due to non-payment of interest and installments. The total outstanding amount is over Rs 325.52 crore as of September 30, with an overdue amount of Rs 281.62 crore.
📊Bank of Maharashtra
The public sector lender has closed its Qualified Institutions Placement (QIP) issue on October 4. The board has approved the allotment of 61.01 crore equity shares to eligible qualified institutional buyers (including LIC, ICICI Prudential Life Insurance Company, and Aditya Birla Sun Life Insurance) at a price of Rs 57.36 per share, amounting to Rs 3,500 crore.
📊CG Power & Industrial Solutions
The company has signed an Asset Purchase Agreement with Renesas Electronics Corporation to acquire its radio frequency components business for $36 million, marking its entry into semiconductor design.
📊RKEC Projects
The company has received a work order worth Rs 186.7 crore from the Maharashtra Maritime Board.
📊Apollo Tyres
Life Insurance Corporation of India has increased its stake in the tyre company from 4.983% to 5.030%. LIC acquired 3 lakh shares, or a 0.047% stake, in Apollo Tyres through open market transactions on October 3.
📊Akzo Nobel India
Netherlands-based parent company Akzo Nobel NV has decided to conduct a strategic review of its portfolio to redeploy capital towards growing its core coatings businesses. The initial focus will be on its decorative paints positions in South Asia. The portfolio review will explore various strategic options, ranging from partnerships or joint ventures to mergers or divestments.
📊Jio Financial Services
SEBI has granted in-principle approval to the company and BlackRock Financial Management Inc to act as co-sponsors and set up the proposed mutual fund.
📊GAIL (India)
The company has signed an MoU with AM Green to jointly develop renewable energy projects of up to 2.5 GW and green chemical projects. The partnership focuses on the long-term supply of carbon dioxide (CO2) for eMethanol production and the exploration of hybrid renewable energy projects across India.
📊Lupin
The US FDA has issued five observations to the company's biotech facility in Pune following an inspection conducted between September 25 and October 4. The regulator completed a pre-approval inspection of this facility.
📊Antony Waste Handling Cell
The company's material subsidiary, AG Enviro Infra Projects, has secured a contract worth Rs 908 crore for door-to-door collection and transportation (C&T) of municipal solid waste from Navi Mumbai Municipal Corporation. The contract is for a duration of nine years.
📊Univa Foods
Sandhya Rani Koochana has resigned as Chief Financial Officer of the company with immediate effect due to personal reasons and preoccupation.
📊BLS International Services
The company has completed the acquisition of a 100% stake in Citizenship Invest, a Dubai-based firm specializing in fast-track investor programs for residency and citizenship across more than 15 countries, for $31 million (Rs 260 crore).
📊One 97 Communications (Paytm)
Manmeet Singh Dhody has stepped down as Chief Technology Officer - Payments, effective October 4, and has transitioned to a new role as an AI Fellow at the company. The board has approved the appointment of Deependra Singh Rathore as Chief Technology Officer - Payments, effective October 4. Previously, Deependra Singh Rathore served as Senior Vice President - Technology at Paytm.
📊Gravita India
The board has approved raising up to Rs 1,000 crore through the issuance of equity shares. Additionally, the board has appointed Sunil Kansal as Whole Time Director, effective October 4, re-designated Rajat Agrawal as Chairman and Managing Director, and accepted the resignation of Mahavir Prasad Agarwal as Chairman and Whole Time Director, effective October 5.
📊Reliance Chemotex Industries
Vinay Srivastav has resigned from his position as President of the company, effective October 4.
📊Mahanagar Telephone Nigam (MTNL)
The State Bank of India has downgraded MTNL's term loan account to a non-performing asset (NPA) as of September 28, due to non-payment of interest and installments. The total outstanding amount is over Rs 325.52 crore as of September 30, with an overdue amount of Rs 281.62 crore.
📊Bank of Maharashtra
The public sector lender has closed its Qualified Institutions Placement (QIP) issue on October 4. The board has approved the allotment of 61.01 crore equity shares to eligible qualified institutional buyers (including LIC, ICICI Prudential Life Insurance Company, and Aditya Birla Sun Life Insurance) at a price of Rs 57.36 per share, amounting to Rs 3,500 crore.
📊CG Power & Industrial Solutions
The company has signed an Asset Purchase Agreement with Renesas Electronics Corporation to acquire its radio frequency components business for $36 million, marking its entry into semiconductor design.
📊RKEC Projects
The company has received a work order worth Rs 186.7 crore from the Maharashtra Maritime Board.
📊Apollo Tyres
Life Insurance Corporation of India has increased its stake in the tyre company from 4.983% to 5.030%. LIC acquired 3 lakh shares, or a 0.047% stake, in Apollo Tyres through open market transactions on October 3.
📊Akzo Nobel India
Netherlands-based parent company Akzo Nobel NV has decided to conduct a strategic review of its portfolio to redeploy capital towards growing its core coatings businesses. The initial focus will be on its decorative paints positions in South Asia. The portfolio review will explore various strategic options, ranging from partnerships or joint ventures to mergers or divestments.