Stocks to watch: Adani, NDTV, Lupine, Indian Hotels, Indus Towers, Blue Dart, Motherson, Marico in focus
Adani Enterprises: Adani New Industries has raised a trade finance facility of $394 million, or Rs 3,231 crore, from Barclays Plc and Deutsche Bank AG. This is to secure working capital for its integrated solar module manufacturing facility.
lupineThe drug maker through its corrective actions has addressed the concerns raised in the warning letter by the US FDA for its Goa and Pithampur facilities.
indian hotel: The company or one of its subsidiaries will buy 100% equity in Pamodzi Hotels Plc, a Zambian listed company, from Tata International Singapore Pte Ltd. It will buy Tata’s 90% stake while the remaining 10% will be acquired through the delisting process. Zambia.
JK Lakshmi Cement: The company has acquired 100% equity shareholding of Hidrive Developers & Industries for Rs 16.33 crore in cash. It has also agreed to partially finance its ongoing projects and raise up to Rs 2,500 crore through debt for various development opportunities.
Rail Vikas Nigam: The government has agreed to exercise the green shoe option in the offer for sale of Rail Vikas Nigam. It will sell an additional 1.96% stake in Rail Vikas Nigam under its green shoe option. There was 273% demand in the non-retail segment on the first day.
Ipca Laboratories: The Competition Commission of India has approved the proposal of Ipca Laboratories to acquire a controlling stake in Unichem Laboratories. Ipca will acquire one-third of the total shareholding of Unichem for a cash consideration of Rs 1,034.06 crore. It will make the required open offer to public shareholders for up to 26% stake in Unichem as per SEBI regulations.
Welspun Enterprises: The company has signed a share purchase agreement with Authum Investment & Infrastructure, Sansar Housing Finance and Michigan Engineers to acquire 50.10% stake in Michigan Engineers for Rs 137.07 crore in cash.
Sodium chloride: The company has been granted approval to enter into specialty ingredients and intermediates, specialty nutritional and bio products. It envisages an investment of Rs 1,000 crore over the next three years for the business, which includes expansion of existing manufacturing and R&D facilities for the captive as well as custom development and contract manufacturing opportunities.
Source: www.bqprime.com
