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Stocks in News Today

March 10, 2022

Bharti Airtel: The telecom major has entered into an Agreement resulting into acquisition of aggregate 9 per cent equity stake in Avaada CleanTN Project, a special purpose vehicle formed for the purpose of owning and operating the Captive Power Plant.

NTPC: The state-owned power giant announced that unit-3 of the 660 MW capacity of Nabinagar Power Generating Company Limited has successfully completed the trial operation and consequently included in the installed capacity of the group. The total installed capacity of NTPC Group has reached a level of 68,567.18 MW.

Larsen & Toubro: The construction infrastructure major’s arm L&T Construction has won a significant order from Delhi Metro Rail Corporation (DMRC) to design and construct the underground metro project of Phase-IV of Delhi MRTS.

Tata Power: The Tata Group firm said its Singapore-based JV Resurgent Power Ventures has won the bid to acquire the stressed asset of South East UP Power Transmission Company through its resolution process under the Insolvency and Bankruptcy Code. Tata Power did not disclose the bid offered by Resurgent Power Ventures.

Zydus Lifesciences: The pharma player aid it has received approval from the US health regulator to market Nitroglycerin Sublingual tablets, used to treat chest pain, in the American market. The company has received approval from the USFDA for the drug in strengths of 0.3 mg, 0.4 mg and 0.6 mg.

Raymond: The leading textile and apparels firm said it has appointed Sunil Kataria as the CEO of its lifestyle business. It has strengthened its leadership team by on-boarding the seasoned professional reckoned for leading large-scale business transformations and creating strong consumer brands in India and Southeast Asia.

Biocon: The drug makers has recieved ‘AA+’ rating from CRISIL on the long-term bank facilities of the company on ‘Watch with Developing Implications’, after the acquisition of biosimilar assets of US-based Viatris Inc by its subsidiary Biocon Biologics for $3.33 billion. The rating on the short term bank facilities has been reaffirmed at ‘A1+’.

PNB Housing Finance: The housing finance company said its board had approved raising Rs 2,500 crore through a rights issue, months after it terminated a Rs 4,000-crore fund-raising deal with a Carlyle-led group of investors.

Stove Kraft: The recently listed kitech appliance maker’s managing director Rajendra Gandhi bought company shares worth Rs 50 crore through an open market transaction. He purchased 7.75 lakh shares at an average price of Rs 645 apiece.

Gufic Biosciences: The pharma company entered the cancer immunology segment by undertaking research collaboration with Australia-based biotechnology company Selvax Pty.

Moneyboxx Finance: The Non-banking financial company said its assets under management has crossed Rs 100 crore and it targets to grow it by four times in the next financial year. The company provides small-ticket loans to micro and small enterprises in tier-III and below locations.

Venus Remedies: The drug maker said it has received the WHO Good Distribution Practices (GDP) certification from Societe Generale de Surveillance (SGS), the world’s leading testing, inspection and certification company. The certification is an endorsement of the company’s entire supply chain cycle, including distribution, operations and processes.