@AlliesFin
*Stocks in News*
*Adani Enterprises:* Adani New Industries' wind energy solutions unit announced its 5.2 MW wind turbine generator has been enlisted in the revised list of models and manufacturers published by the Ministry of New and Renewable Energy. The listing enables commercial availability of Adani Wind's 5.2 MW wind turbines.
*Tata Power:* Subsidiary Tata Power Renewable Energy signed a power delivery agreement with Xpro India to develop 3.125 MW AC group captive solar plant in Achegaon, Maharashtra.
*Alkem Laboratories:* The Income Tax Department conducted a survey at some of the company's offices and subsidiaries. The drugmaker said it is fully cooperating with the officials and there has been no impact on its operations.
*Bharat Forge:* The company and its unit Kalyani Strategic Systems signed a pact to produce armoured vehicles in India for clients of global defence company Paramount. The partnership includes the development and production of 4x4 and 6x6 Infantry Combat Vehicles for global customers.
*Godrej Properties:* The developer plans to raise Rs 1,500 crore via two NCD issues.
*Bank of Maharashtra:* The lender has received total bids of Rs 760 crore for its issue of Basel III Compliant Tier 2 Bonds on private placement basis.- It has accepted bid of Rs 515 crore, including base issue of Rs 250 crore and green shoe option retained up to Rs 265 crore, at a coupon rate of 7.98%.
*Sona BLW Precision Forgings:* The board approved investment of $1.6 million in one or more tranches in the form of share capital in its wholly owned subsidiary in Mexico.
*United Spirits:* The company has filed an appeal against an order passed by Additional Commissioner of Commercial Taxes (Enforcement) in matter of applicability of GST rate on royalty income for the period September 2017 to September 2021. The quantum of claims is Rs 57.8 crore
*PI Industries:* The company entered into a strategic alliance with Koppert to foster advancements in sustainable agriculture practices and jointly innovate in the domain of Agriculture Biologicals.
*Lemon Tree Hotels:* The company signed license agreements for two hotel properties in Junagadh, Gujarat and Chitwan, Nepal under the brand “Lemon Tree Hotel” and “Lemon Tree Resort” respectively. The former is expected to be operational by FY25 and the latter in FY24 itself and both will be managed by unit Carnation Hotels.
*Schneider Electric Infrastructure:* The company appointed Udai Singh as MD and CEO for three years with effect from Sept. 15. Further, Arnab Roy resigned as Non-Executive Director.
*Strides Pharma Science:* The drugmaker's Singapore unit received tentative U.S. FDA approval for Dolutegravir 50mg tablets, which is equivalent of Tivicay tablets used for antiretroviral therapy of HIV patients. The approval adds to a list of products that Strides has approved under the PEPFAR pathway taking the total to 13 products.
*SeQuent Scientific:* The drugmaker will sell its active pharma ingredient unit at Thane.
*Clean Science and Technology:* The company has subscribed to additional 11.70 lakh equity shares, each at a premium of Rs 588, aggregating to Rs 70 crore by way of subscription to the rights issue of Clean Fino-Chem, a wholly owned subsidiary. The additional capital will be used for funding its green field projects.
*GMM Pfaudler:* The company will acquire Canada-based Professional Mixing Equipment (MixPro) for $7 million through its U.S. subsidiary. MixPro designs and manufactures innovative mixing solutions for a wide range of industrial applications.
*Shoppers Stop:* The retailer has started operations from its new Intune Store at Irrum Manzil, Hyderabad.
*Patel Engineering:* The company in a joint venture has been declared lowest bidder for an irrigation project of Rs 249.96 crore from Maharashtra Krishna Valley Development Corp to construct a pipeline distribution network in Satara. PEL's share in the contract is Rs 99.98 crore or 40%.
*IPO Offerings*
By: via Telegram.me/AlliesFin #StockMarket #india
