Check out the companies which will be in focus during trade today based on recent and latest news developments.
Jubilant Life Sciences: The pharma company announced today that one of its wholly-owned subsidiaries, Jubilant DraxImage Inc. (“DraxImage”) has signed a term sheet, subject to satisfactory due diligence and execution of the Definitive Agreement and other necessary approvals, with Cyclopharm Limited (“CYC”), providing DraxImage an exclusive license to market and distribute Technegas in the United States.
Maruti Suzuki India: The company announced the introduction of two new variants: Vxi (O) and Vdi (O), of its popular premium sedan, Ciaz.
Adani Enterprises Ltd: After acquiring Udupi Power Corporation Ltd from Lanco Infratech in April, Adani Group is now set to expand the plant's capacity by 1600 MW, which is estimated to cost over Rs 9,000 crore.
Vivimed Labs: The company plans to divest part of its specialty chemicals business to a strategic investor or special purpose vehicle (SPV) of the company or third party on a slump sale basis for not less than Rs. 380 crore.
Punj Lloyd Ltd: Punj Lloyd Pte Ltd and Sembawang Engineers and Constructors Pte Ltd, the Singapore subsidiaries of diversified group Punj Lloyd, have filed an application seeking approval from that country's High Court to enter into a scheme of arrangement with their respective creditors.
Natco Pharma: The company which has filed a pre-grant opposition with the Indian Patent Office pulled itself out from the litigation after it has entered into a licensing agreement with Gilead, as per media reports.
Tata Teleservices: Tata Teleservices has become first company to commercially deploy indigenously developed energy monitoring technology by Telecom Center of Excellence at 500 mobile towers.
L&T Finance: Bain Capital is reportedly close to acquiring a US$300mn (~Rs. 2,000 crore) stake in L&T Finance Holdings, the financial services unit of L&T.
Amtek Auto Ltd: The company plans to raise about Rs. 6,500 crore by selling assets. The proceeds will go towards reducing the company's debt of about Rs 15,000 crore, as per media reports.
Mahindra: The company has launched their much-awaited compact SUV - TUV300 and also confirmed that they will be launching their first-ever in-house developed petrol engine with the upcoming S101, it will be a 1.2L unit.
Indiabulls Housing Finance Ltd: The company has raised Rs. 3,996.79 crore by allotting over 5.69 crore shares to qualified institutional buyers (QIBs).
Parsvnath Developers: The company is seeking sought shareholders approval to raise up to Rs. 1,000 crore through private placement of non-convertible debentures (NCDs).
Manali Petrochemicals: The company has signed Memorandum of Understanding with the Government of Tamil Nadu to invest upto Rs. 500 crore over the next three to five years in projects for expansion of the Polyol capacity and a Power project with the facilitation and support from the Government.
Borosil Glass Works Ltd: The board of company has approved a buyback proposal for purchase of up to 6.96 lakh shares of Rs. 10 each (representing 23.15 per cent of the total equity capital), from all the shareholders of the company on proportionate basis through the tender offer route.
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