Stock that will see action today: 18 July 2024


Results calendar: Andhra Cements, Ashapuri Gold Ornament, Bharat Bijlee, Ceat, Central Bank of India, Choice International, CIE Automotive India, Dalmia Bharat, Gopal Snacks, Grindwell Norton, Havells India, Infosys, Ind Bank Housing, JSW Infrastructure, L&T Technology Services, Mastek, Newgen Software Technologies, Persistent Systems, Polycab India, Premier Explosives, Rallis India, Reliance Industrial Infrastructure, Sagar Cements, Shoppers Stop, South Indian Bank, Swaraj Engines, Sterling and Wilson Renewable Energy, Tanla Platforms, Tata Communications, Tata Technologies,Trident Texofab, and Vraj Iron and Steel 

FlixBus, a global leader in affordable and sustainable travel, which entered India earlier this year, has announced a strategic partnership with Paytm. This collaboration aims to revolutionise intercity bus travel in India, making FlixBus tickets available directly through the Paytm app. The partnership simplifies access to intercity travel, enhancing convenience for Indian travellers and making road travel more accessible.

Oil & Natural Gas Corporation (ONGC) has commenced production from its coal bed methane (CBM) block in Bokaro, Jharkhand. CBM is an unconventional source of natural gas and an alternative source to augment our energy resources. The block would produce 1,70,000 scmd initially, and is expected to ramp up to 3,00,000 scmd by the end of the current financial year.

The Board of Directors of Indian Renewable Energy Development Agency Limited (IREDA) have given in-principle approval for equity investment of ₹20 crore in a 900 MW hydroelectric power project in Nepal. The company will pick up a 10 per cent stake in the Upper Karnali Hydro-Electric Power Project.

SpiceJet’s chief financial officer (CFO) and head of finance, Ashish Kumar, has resigned from the company to “pursue other opportunities,” the carrier said in an exchange filing on Tuesday, July 16. It will replace him with Joyakesh Podder as the head of finance. He is also being designated as the deputy CFO with effect from July 15.

UltraTech Cement has entered into a Power Purchase Agreement and Share Subscription and Shareholders Agreement with intention to acquire 26 per cent equity shares of Amplus Omega Solar, a company engaged in generation and transmission of renewable energy. The acquisition is to meetg the company’s green energy needs, optimise energy cost and comply with regulatory requirements for captive power consumption under the electricity laws. Cost of acquisition is ₹24.30 crore. 

Bajaj Electricals has informed the exchanges that its Managing Director & Chief Executive Officer Anuj Poddar has resigned from the post with effect from September 30. Poddar will move on from the company to pursue an external opportunity. During the transition period, Shekhar Bajaj, Chairman, will take over his responsibilities.

Exide Industries has invested ₹75 crore in its wholly-owned subsidiary Exide Energy Solutions via a rights issue. EESL is in the process of setting up a green field plant at Bengaluru for manufacturing & selling lithium-ion battery cells, modules and pack business. 

Nazara Technologies has said its two subsidiaries received GST notice. Openplay Technologies Pvt Ltd has received a Show Cause Notice from the Director-General of GST Intelligence, Kolkata for a proposed liability of ₹845.72 crore for the period from 2017-18 to 2022-23; and Halaplay Technologies Pvt Ltd has received a notice for a proposed tax liability under the CGST Act, 2017, amounting to ₹274.21 crore) from the Director General of GST Intelligence, Kolkata for the same period. These claims are in relation to calculation of GST based on the sums pooled by players as opposed to gross gaming revenues.

Glenmark Pharmaceuticals has received final approval from the US Food & Drug Administration (USFDA) for its generic Topiramate capsules used to treat certain types of seizures. Approval by the USFDA is for Topiramate capsules of strengths 15 mg and 25 mg. Glenmark’s Topiramate capsules USP, 15 mg and 25 mg, have been determined by the FDA to be bioequivalent and therapeutically equivalent to Topamax capsules, 15 mg and 25 mg of Janssen Pharmaceuticals, Inc., and will be distributed in the US by Glenmark Pharmaceuticals Inc., US.

Hindustan Oil Exploration Company Ltd informed the exchanges that during a workover in Block AAP-ON-94/1 (Dirok), an untested sand interval – Sand-9, which was tested today in Well Dirok-1, successfully flowed gas. During the test, the initial flow rate with a half an inch choke flowed over 6 million standard cubic feet of gas per day. Further, production testing is in progress. This successful test of Sand-9 would add an additional volume to the proven reserves category of the Dirok field. HOEC holds 26.882% participating interest and is the Operator of the Block, with Oil India Limited and Indian Oil Corporation Ltd. as JV partners to the Production Sharing Contract executed with the Government of India.

Norton Motorcycles, part of the TVS Motor Company, announced its investment and growth plans to put the company in the ideal place for international expansion. With TVS Motor’s backing and global capabilities, Norton is being reinvigorated as a global brand, led by a strong and dynamic team. and discussed how Norton is now perfectly placed to expand globally. TVS Motor has announced an investment of £200 million to support the global expansion of Norton Motorcycles

Sirius Digitech, a joint venture between Adani Group and International Holding Company, has signed binding pacts to buy Coredge.io Private Limited, an AI and cloud platform company. Adani Group will buy 77.5 per cent stake in Coredge’s parent Parserlabs India. Parserlabs owns 100 per cent of Coredge.io. The cost of acquisition will be ₹20,000 per equity share having face value of rupee 1 each. Via this agreement, Coredge.io, which offers AI and cloud services, will enable Sirius Digitech to provide Machine Learning as-a-Service.

The Insurance Regulatory and Development Authority of India (IRDAI) has levied a penalty of ₹2 crore on Bajaj Finance for violating provisions of IRDAI Regulations. 

The board of Zee Entertainment Enterprises has approved raising funds by issuing 5% foreign currency convertible bonds (FCCBs) up to $239 million (₹1,997.22 crore) maturing in 10 years on a private placement basis to proposed investors – Resonance Opportunities Fund, St. John’s Wood Fund, and Ebisu Global Opportunities Fund. The FCCB issue opened on July 16.

KEC International has received new orders worth ₹1,100 crore for transmission and distribution projects in India, Middle East, Australia and Americas.

Triveni Engineering has started commercial operations of its Indian-made foreign liquor business and launched two whisky products, Matsya and The Crafters Stamp.

The board of Techno Electric & Engineering has approved the opening of QIP issue and fixed the floor price of ₹1,506.58 per share.



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