2021-09-14 04:48:32
Stocks To Watch
• ARSS Infrastructure Projects: State Bank of India has filed a petition under IBC alleging Rs 2,273 crore payment default and seeking initiation of Corporate Insolvency Resolution Process against the company. ARSS is seeking legal advice and will take all appropriate steps to protect its interest in the aforesaid matter, the company said.
• Zee Entertainment: Manish Chokhani and Ashok Kurien have resigned from the position of non-executive non-independent directors of the company with immediate effect. Invesco Developing Markets Fund and OFI Global China Fund LLC in a letter on September 11 requisitioned EGM to remove Punit Goenka, Manish Chokhani and Ashok Kurien as directors.
• Allcargo Logistics: The company has dropped plans to delist its shares after public shareholders voted against the offer to take the company private.
• Redington (India): Step down subsidiary Arena Bilgisayar Sanayi Ve Ticaret A.S. Turkey concluded its binding Share Purchase Agreement to acquire 100% shares of Brightstar Telekomünikasyon Dagitim Ltd. Sti, for $35 million.
• Shriram City Union Finance: To raise up to Rs 850 crore via secured NCD issue.
• Wipro: The company has partnered First Horizon Bank to transform the core banking channels and servicing capabilities of VirtualBank, an established digital bank that FHN inherited from Louisiana-based IBERIABANK as part of the merger completed in 2020.
• DCM Shriram: The company has approved the proposal to acquire 50% stake--17.32 lakh equity shares of Rs 10 each--of Shriram Axiall, a 50:50 JV between the company and Axiall LLC (USA), from Axiall LLC.
• KNR Constructions: The company received a Letter of Acceptance for Hyderabad Growth Corridor - widening of existing service roads from Nanakramguda to TSPA and Narsingi to Kollur and BT Overlay of Bitumen pavement from Gachibowli to Shamshabad of Outer Ring Road, Hyderabad. The contract is worth Rs 312.79 crore and is to be completed within a period of 15 months from the date of signing of the agreement.
• Dilip Buildcon: Subsidiary Bangalore Malur Highways has received the letter of the appointed date from the National Highways Authority of India and had declared the appointed w.e.f. September 15.
• Vijaya Diagnostic Centre: The stock will list on the bourses today. The final issue price has been fixed at Rs 531 per share.
• Ami Organics: The company will list its equity shares on the BSE and the NSE today. The offer price has been fixed at Rs 610 per equity share.
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