· , Indian Navy takes delivery of second destroyer of Project 15B Mormugao from Mazagon Dock, HFCL to Sell Wi-Fi Access Point Routers , Glenmark Pharma Gets US FDA Warning Letter For Goa Plant, ICICI Bank Investment In JV with IOC and Chennai Petroleum, Adani Will Pursue Copper Expansion ‘as Quickly as Possible’, Govt. Eyes 45m Tons Coal Stock With Power Plants by March, Tata Consumer Says Talking to Bisleri Among Others, SC dismisses Tata Power's plea challenging Rs 7000 crore contract to Adani Power, SKF to Invest Rs125cr in China, India, Southeast Asia, Sonata Software partners global cloud Xchange in Multi-year deal, TVS Motor Company launches its first TVS Experience Centre in Singapore.
· IEX – Board meeting today for share buy-back.
· Go-fashion and Ethos Ltd – to complete anchor lock in period (expects selling pressure).
· PNB said it has received the government approval to divestment its entire stake in UTI Asset Management as part of its non-core asset sale plan to shore up its capital base. The bank, which holds 15.22% stake in UTI AMC, will divestment its entire stake in the mutual fund company in single or multiple tranches for realization of gain on investment. It's current valuation stands at Rs1,329 crore.- positive
· SBI would consider raising funds by issuing up to Rs10,000 crore of infrastructure bonds. This will also include a greenshoe option of Rs5,000 crore
· Mazagon Dock - The second ship of Project 15B stealth guided missile destroyers, Y 12705 (Mormugao), being built at Mazagon Dock, was handed over to the Indian Navy on Thursday. According to the defence ministry, the ship is 163 metres long and 17 metres wide, displaces 7400 tonne when fully loaded and has a maximum speed of 30 knots. – positive
· Bank of Baroda launched the 'bob World Kisan' app - a one-stop solution for farmers for all their agricultural needs. bob World Kisan is a holistic platform that helps in digitising the agroeconomic journey by offering new-age solutions related to agri-financing, insurance & investments etc – positive
· Tube Investments acquires 50% equity stake in X2Fuels and Energy Pvt Ltd worth Rs6.15cr. X2Fuels is an early-stage start-up incubated at the National Centre for Combustion Research and Development (NCCRD) at IIT Madras.
· HFCL will foray into the direct sale of Wi-Fi access point routers to consumers. The Indian telecom equipment company plans to invest Rs425cr to design and manufacture routers at its upcoming plant in Manesar, Haryana, and sell them starting the second quarter of 2023 – positive.
· AU Small Finance name Malini Thadani as Independent director
· Laurus Labs to buy 26% stake in Ethan Energy at Rs52.70 a share, to use 100% output of Etthan’s 10mw solar plant - positive
· Glenmark Pharma - The USFDA has issued a warning letter to Glenmark Pharmaceuticals Ltd.’s manufacturing facility at Goa. The company said the warning letter wouldn’t disrupt supplies or existing revenues from operations of the facility.- Any sharp decline will be buying opportunity
· ICICI Bank Investment In JV with IOC and Chennai Petroleum - ICICI Bank said it will invest in a proposed joint venture of the two companies. ICICI Bank said it will invest Rs 50,000 as seed capital to take up 10% equity in a joint venture of Indian Oil Corporation and Chennai Petroleum Corporation.- positive for IOC and Chennai Petroleum
· L&T wins significant orders – L&T wins significant order in heavy civil infrastructure between Rs1000cr – Rs2500cr – positive
· Adani Enterprises - Adani Natural Resources will be “happy” to commission second phase of its 1-million-ton greenfield copper smelter if copper treatment charges are high enough, according to CEO Vinay Prakash. The unit of Adani Enterprises Ltd. is committed to starting the smelter’s first 500,000-ton phase by 2024. – positive for Adani Enterprises
By: via Allies Fin Serve Stock Market
