All You Need To Know Going Into Trade On December 24
Adani Enterprises: Incorporates wholly-owned subsidiary names Adani Data Networks Ltd.
Allcargo Logistics: Board has approved a scheme of demerger wherein all container freight stations, inland container depots and any other related logistics businesses of the company will be demerged into Allcargo Terminals Pvt. Ltd. All engineering and equipment leasing and hiring solutions, logistics park, warehousing, real estate development and leasing activities and other related businesses will be demerged into Translndia Realty & Logistics Parks Ltd. Scheme yet to be approved by NCLT. The company would continue to run and operate remaining businesses. Scheme could take effect from April 1, 2022.
L&T Finance Holdings: Company to sell its mutual fund business L&T Investment Management to HSBC AMC for $425 million.
United Breweries: NCLAT stays CCI order imposing a penalty of Rs 751.8 crore upon a condition of pre-deposit of 10% of the penalty amount.
Dr. Reddy’s: Merck receives FDA authorisation for its Covid-19 pill. The Hyderabad-based company is a licensee to manufacture the pill.
Poonawalla Fincorp: International Finance Corporation has ceased to be a stakeholder of the company.
UPL: Admitted its GDRs for trading on the International Order Book, London Stock Exchange’s electronic trading platform.
Surya Roshni: Obtained order amounted to Rs 124.35 crore for supply of API 3LPE coated pipes for LPG pipeline project to IHB Ltd.
Ajanta Pharma: Board of directors to meet on Dec. 28 to consider a proposal for buyback of equity shares of face value of Rs 2 each.
Biocon: Clinical study for Itolizumab in Lupus Nephritis initiated in India, post DCGI approval.
Indian Oil: To invest Rs 9,028 crore for new crude oil pipeline from Mundra.
Ircon International: Incorporated ‘Ircon Akloli-Shirsad Expressway Ltd.’ on Dec. 23 as a special purpose vehicle for the purpose of construction of an eight lane access controlled expressway from Akloli to Shirsad.
Tega Industries: Approves setting up a larger, additional plant in Chile at a cost of Rs 175 crore to cater to growing Latin American demand.
Motherson Sumi Systems: NCLT approves scheme of arrangement and amalgamation between the company, Samvardhana Motherson International Ltd., Motherson Sumi Wiring India Ltd. and their respective shareholders and creditors.
Kajaria Ceramics: NCLT has approved scheme of amalgamation amongst Kajaria Tiles Pvt. Ltd. and Kajaria Ceramics Ltd. and their respective shareholders and creditors. Kajaria Tiles is a wholly-owned subsidiary of the company and as per the scheme, shareholding of the company in Kajaria Tiles will automatically be cancelled and no new shares will be issued consequent upon the said amalgamation under the scheme.
SJVN: Entered MoU with Damodar Valley Corporation for harnessing potential solar energy of about 2000 MW available under the DVC Command Area.
Prestige Group, L&T: Prestige Group signed a civil contract worth Rs 1,560 crore excluding GST with Larsen and Toubro for construction of buildings and infrastructure development at the Prestige City, Bengaluru.
TCS: Gets contract from the oldest private non-life insurer in the Swiss market, La Mobiliere to drive its digital transformation agenda.
Escorts: NCLT approved its scheme of capital reduction. Share capital of the Company shall stand reduced from Rs 134.83 crore divided into 13.48 crore equity shares each to Rs 122.57 crore divided into 12.25 crore equity shares once scheme is effective.
Mphasis: Mphasis Consulting Ltd., UK, a wholly owned subsidiary of the company, and Ardonagh signed a business venture agreement wherein Mphasis acquired 51% in Mrald Ltd., a company incorporated and registered in England and Wales.
Glenmark Pharma: Crisil revises outlook to ‘positive’ from ‘stable’; long term rating of AA- reaffirmed.