Buzzing Stocks: JSW Infra, Biocon, Foseco India, Aditya Birla Capital and others in news

Biocon: The biopharmaceutical company has given a corporate guarantee of $20 million in favour of Mizuho Bank to secure a term loan facility of $20 million extended to the company’s step-down subsidiary Biocon Generics Inc by the bank. The corporate guarantee is valid for 5 years.

JSW Infrastructure: The JSW Group company has received the letter of award from the VO Chidambaranar Port Authority for mechanisation of the North Cargo Berth-III (NCB-III) for handling dry bulk cargo at the port on a design, build, finance, operate and transfer (DBFOT) basis through through the PPP route.

Ami Organics: Pune-based investment company Sageone Investment Advisors LLP has bought 2.5 lakh equity shares (which is equivalent to 0.68% of the paid-up equity) through open market transactions, at an average price of Rs 1,075 per share.

Foseco India: The foundry consumables and solutions company has registered a 33% on-year growth in net profit at Rs 16.3 crore for quarter ended December CY23 (Q4CY23), partly supported by topline and other income. Revenue from operations for the quarter grew by 15.7% to Rs 122.3 crore compared to year-ago period.

Kotak Mahindra Bank: The bank, Zurich and Kotak Mahindra General Insurance Company have mutually agreed that Zurich will acquire 70% stake in Kotak General through a combination of primary and secondary acquisitions in a single tranche, for Rs 5,560 crore. As per an earlier disclosure made in November 2023, Zurich Insurance was supposed to make initial acquisition of 51% stake in Kotak General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional 19% stake in 3 years from the initial acquisition.

Rain Industries: The calcined petroleum coke producer has posted consolidated net loss at Rs 107.9 crore for quarter ended December 2023 (Q4CY23), against profit of Rs 12.6 crore in year-ago period, impacted by lower topline, impairment loss and higher finance cost. Consolidated revenue from operations fell by 25% year-on-year to Rs 410 crore for the quarter.

RITES: The company has received a formal Letter of intent towards appointment of Projects Management consultant (PMC) for the infrastructure development of permanent campus of IIT Bhubaneswar in Odisha, from IIT Bhubaneswar.

Aditya Birla Capital: The company has made an investment of Rs 50 crore via rights issue, in Aditya Birla Capital Digital (ABCDL). After this investment, there is no change in the percentage shareholding of Aditya Birla Capital and ABCDL continues to be wholly owned subsidiaries of the company.

Skipper: The power transmission & distribution structures manufacturer has bagged a new order of Rs 737 crore for design, supply and construction of new 765 kV transmission line project for Power Grid Corporation of India.

Arvind SmartSpaces: ICICI Prudential Equity Opportunities Fund has bought 4.65 lakh equity shares (equivalent to 1.02% of paid-up equity) in the real estate developer at an average price of Rs 582 per share. However, investor Kausalya Realserve LLP sold 7 lakh equity shares in the company at an average price of Rs 582.02 per share, while its shareholding in the company as of December 2023 was 6.29% or 28.5 lakh shares.

Kolte-Patil Developers: Promoter Naresh Anirudha Patil sold 15,20,088 equity shares (which is equivalent to 2% of paid-up equity) in the Pune-based real estate developer at an average price of Rs 487.81 per share. However, Whiteoak Capital Mutual Fund bought 4,09,834 equity shares in the company at an average price of Rs 487.5 per share.

BGR Energy Systems: Promoter Sasikala Raghupathy sold 24,16,344 equity shares (equivalent to 3.3% of paid-up equity) in the company at an average price of Rs 89.59 per share. In the current month, promoter already offloaded 31,70,882 equity shares in the company.

Olectra Greentech: High networth individual Ujwal Kumar Pagariya sold 5.5 lakh equity shares in the electric bus manufacturer via open market transaction at an average price of Rs 2,096 per share, valuing at Rs 115.28 crore.

GE Power India: The company has received order from Tata Power, for providing services towards overhaul and other works for turbine generator. The base value of the project is Rs 6.75 crore.

NIBE: The company has executed exclusive manufacturing agreement with Munition India for export of the ammunitions for 10 years.