“Stocks In Focus Today 06-09-2021” – Investelite Research
Ashoka Buildcon: The company said it has received a contract worth ₹1,567.45 crore for upgrading a part of the national highway NH-19 in West Bengal.
Bajaj Healthcare: The company has announced the launch of the API and formulation of 2-Deoxy-D-Glucose (2-DG), an antiviral drug used for treating Covid-19 patients, under the brand name ‘DGJAJ’ in collaboration with Defence Research and Development Organisation (DRDO).
Barbeque Nation: The restaurant chain on Saturday said it has raised nearly ₹100 crore through preferential issue of equity shares to three different investors, including Massachusetts Institute of Technology. The company’s stakeholders’ relationship committee in its meeting on Saturday approved an allotment of 11,77,855 fully paid-up equity shares of a face value of ₹5 each at a premium of ₹844 by preferential allotment, the company said in a regulatory filing.
Dr Reddy’s Laboratories: The company on Saturday said it has inked a pact with US-based Citius Pharmaceuticals to sell its rights to an anti-cancer agent. The drug firm said it has entered into a definitive agreement with Citius to sell all of its rights to E7777 (an engineered IL-2-diphtheria toxin fusion protein) and certain related assets.
Hero Motocorp: The company and Harley-Davidson have expanded the touch points for present and prospective buyers of the American heritage motorcycle brand. Hero MotoCorp now has an expanded network of 14 full-fledged dealerships and seven authorised service centers across the country, exclusively for Harley-Davidson customers, the Indian two-wheeler giant said in a statement on Sunday.
ICICI Lombard General Insurance Co: The insurer on Friday said sectoral regulator Irdai has given its final approval for the demerger of the general insurance business of Bharti AXA General Insurance to itself by way of a scheme of arrangement.
Jet Airways: The airline has concluded the insolvency process under Dutch regulations with the sale of its equipment, which was under the custody of the Dutch administrator, to IAGCAS 777 LLC.
Jindal Steel and Power: The company expects to conclude the deal to sell its 96.42% stake in its arm Jindal Power for ₹7,401 crore to a promoters-owned firm Worldone by this year end. More than 97% shareholders of the company on Friday approved the proposal for stake sale.
NTPC: The state-owned entity will seek shareholders’ approval to raise ₹18,000 crore through the issuance of bonds or debentures in its annual general meeting on 28 September. NTPC has proposed to raise funds up to ₹18,000 crore through the issue of bonds/debentures on a private placement basis.
Reliance Industries: The company is set to make a $5.7 billion non-binding offer to acquire a controlling stake in T-Mobile Netherlands BV, the country’s largest telecom operator, two people aware of the development said.
Videocon group: Lenders to the group’s energy business have extended the deadline for submitting the resolution plan till 30 September after it failed to receive any bids from potential applicants, according to two bankers aware of the development.
Were The Stocks In Focus Today 06-09-2021
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