Buzzing Stocks: Signature Global, Infosys, 3i Infotech, Suzlon Energy & others in news today

Signature Global India: The Delhi NCR-based affordable housing company will debut on the BSE and NSE, in the T+3 timeline, on September 27. The issue price has been fixed at Rs 385 per share.

Sai Silks Kalamandir: The Andhra Pradesh-based ethnic apparel and value-fashion products retailer will list shares in the T+3 timeline on September 27. The final issue price is Rs 222 per share.

Infosys: The country’s second-largest IT services provider has announced a collaboration with Microsoft to jointly develop industry-leading solutions. These solutions will leverage Infosys’ Topaz and the American tech giant’s Azure OpenAI Service and Azure Cognitive Services. Both organisations are bringing together their artificial intelligence (AI) capabilities to enhance enterprise functions with AI-enabled solutions across multiple industries. The integrated solutions will accelerate the rapid democratization of data and intelligence that will help businesses increase productivity and drive new revenue growth.

Container Corporation of India: The state-owned company said the Board of Directors has appointed Sanjay Swarup as Chairman and Managing Director (CMD) of the firm, with effect from October 1, 2023, till July 21, 2026. He is currently the Director (International Marketing & Operations) at CONCOR.

Blue Star: The air conditioners manufacturing company, as a part of the objects of its QIP issue, has acquired 4.9 crore equity shares of subsidiary Blue Star Climatech for Rs 49 crore via subscribing to its rights issue. This investment will help the subsidiary repay certain outstanding borrowings and finance its expansion plans.

3i Infotech: The IT company has received a contract from Ujjivan Small Finance Bank, for end-user support service (workplace services). The total contract value is Rs 39.55 crore plus one-time transition charges of Rs 35 lakh. The contract is for a period of 5 years starting from October 1, 2023, to September 30, 2028, with the option to extend the contract with mutual agreement.

Shyam Metalics and Energy: The Kolkata-headquartered integrated metal producer has made an entry into the energy storage sector to make battery-grade aluminum foil for Lithium-ion cell manufacturing. The battery-grade aluminum foil is a critical component in Lithium-ion cells.

Suzlon Energy: Dilip Shanghvi and Associates have decided to terminate the agreement with Suzlon in accordance with the terms of the agreement. Dilip Shanghvi and Associates, the investor group of the company, had entered into an amended and restated shareholders’ agreement on February 28, 2020, with the company and promoters. There would not be any impact on the operations of the company on termination of the agreement. With this, Hiten Timbadia, the investor group’s nominee director on the board of the company, has resigned as director of the company with effect from September 26.

Century Textiles and Industries: Subsidiary Birla Estates has sold out phase 1 of Birla Trimaya within 36 hours of its launch. The booking value is Rs 500 crore for 556 units booked. Birla Trimaya, the 52-acre land parcel in North Bangalore is in joint partnership with M S Ramaiah Realty LLP.

Prataap Snacks: The GST Authority has conducted a search and seizure under the Central Goods and Services Tax Act, 2017 (CGST Act) at the manufacturing unit in Bengaluru. The company has extended its full cooperation to the officials and responded to the clarification and details sought by them. The operations of the said manufacturing unit were not impacted and continued as usual.

Voltamp Transformers: Promoter Kunjal Lalitkumar Patel has sold 12.14 lakh equity shares, which is equivalent to 12% of paid-up equity, via open market transactions, at an average price of Rs 4,633.09 per share. The stake sale by promoter amounted Rs 562.5 crore. However, Kotak Mahindra Mutual Fund, Nordea 1 Sicav, Manulife Global Fund India Equity Fund, Oxbow Master Fund, Vittoria Fund-OC LP, and Societe Generale have bought 7.03 lakh shares (6.95% stake) at an average price of Rs 4,632 per share, amounting to Rs 325.7 crore.

Punjab National Bank, REC: To bolster the country’s economy and infrastructure, Punjab National Bank (PNB) has entered into a Memorandum of Understanding (MoU) with REC. They will work closely to identify and facilitate lending opportunities in sectors of paramount importance. Additionally, this collaboration emphasises both brands’ commitment to the country’s economic growth and development.

Vedanta: Global rating agency Moody’s Investors Service downgraded Vedanta Resources’ (VRL) corporate family rating (CFR) from Caa1 to Caa2. Additionally, the rating agency has downgraded the rating on VRL’s senior unsecured bonds issued by VRL, as well as those issued by VRL’s wholly-owned subsidiary, Vedanta Resources Finance II Plc, and guaranteed by VRL from Caa2 to Caa3. Also, Moody’s has maintained a negative outlook in this context. Moody’s rationale for these actions is attributed to Vedanta Resources’ lack of meaningful progress in addressing its upcoming debt maturities through refinancing.

New Delhi Television: The company has received permission from Ministry of Information & Broadcasting (MIB) to uplink and downlink three news and current affairs channels in High Definition namely NDTV 24×7 HD, NDTV India HD and NDTV Profit HD.

Madras Fertilizers: The board of directors appointed and redesignated Priya Ranjan Panda as Chief Financial Officer and key managerial personnel of the company effective August 8, 2023. Currently, Priya is a General Manager (Finance & Accounts) of the company.

Savita Oil Technologies: Sanjeev Madan has been appointed as the Chief Financial Officer (CFO) of the company with effect from September 26, due to superannuation of existing CFO.

Kody Technolab: The software development services company will make its debut on the NSE Emerge on September 27. The issue price is Rs 160 per share. Its equity shares will be available for trading in trade-for-trade segment.

Techknowgreen Solutions: The environmental consulting services company will list its equity shares on the BSE SME on September 27. The issue price is Rs 86 per share. The stock will be available for trading in the trade-for-trade segment, for 10 trading days.