Buzzing Stocks: Wipro, RVNL, Tata Investment, IndiGo, M&M, ITC, Jio Financial and others

Wipro: Wipro is a technology services and consulting company, and Nutanix Inc launched a Nutanix-focused business unit. It will accelerate digital transformation and hybrid multicloud innovation.

InterGlobe Aviation: Promoter Rakesh Gangwal sold 2.25 crore equity shares (equivalent to 5.8 percent of paid-up equity) in the IndiGo operator via open market transactions, amounting to Rs 6,785.73 crore. However, foreign investor Morgan Stanley Asia (Singapore) Pte bought 21 lakh shares in the company at an average price of Rs 3,015.1 crore, valued at Rs 633.17 crore.

Rail Vikas Nigam: The state-run railway company has emerged as the lowest bidder (L1) for signaling and telecommunication work for the provision of automatic block signaling on the Khapri-Sewagram section of the Nagpur division of Central Railway. The project is worth Rs 47.36 crore. Further, RVNL has also emerged as the lowest bidder for the Pune Metro Rail Project from Maharashtra Metro Rail Corporation. The company will design and construct an elevated viaduct between PCMC and NIGDI (Bhakti Shakti) on the North-South Corridor of the Pune Metro Rail Project-Reach-Extension, and the said work is worth Rs 339.23 crore.

Mahindra and Mahindra: Production in February grew by 26.07 percent year-on-year to 73,380 units, and sales increased by 26.2 percent to 71,384 units, but exports fell 31.6 percent to 1,539 units compared to the previous month.

ITC: British American Tobacco Plc, the maker of Lucky Strike cigarettes, is preparing to kick off a sale of part of its stake in Indian partner ITC Ltd. as soon as this week, people with knowledge of the matter said. London-listed BAT has been speaking with Bank of America Corp. and Citigroup Inc. about a potential divestment of around $2 billion to $3 billion in ITC stock through block trades. BAT currently owns about a 29 percent stake in ITC.

Tata Technologies: Tata Technologies, Netweb Technologies India, Protean eGov Technologies, and Zaggle Prepaid Ocean Services will be added to the S&P BSE Information Technology index, with effect from March 18.

Jio Financial Services: The BSE has decided to add Jio Financial Services, Indian Renewable Energy Development Agency, SBFC Finance, India Shelter Finance Corporation, Utkarsh Small Finance Bank, Fedbank Financial Services, Nuvama Wealth Management, Muthoot Microfin, and ESAF Small Finance Bank to its S&P BSE Financial Services index, with effect from March 18.

Honasa Consumer: The BSE will add Honasa Consumer, DOMS Industries, Flair Writing Industries, HMA Agro Industries, M K Proteins, and Gulshan Polyols to its S&P BSE Fast Moving Consumer Goods index, with effect from March 18.

Aditya Birla Capital: Aditya Birla Capital has received approval from the board of directors to merge subsidiary Aditya Birla Finance with itself. The amalgamation will create a large, unified operating NBFC.

Tata Investment Corporation: The company has appointed Savitha Narayanan as Chief Technology Officer and reappointed Ankan Mondal as Chief Risk Officer with effect from April 1, 2024. Further, Jenniefer Samuel has been appointed as Head of Internal Audit after the resignation of Kersi Bhagat.

CMS Info Systems: The board of directors has appointed Puneet Bhirani as the President, Operations, of the company, with effect from March 11.

Mankind Pharma: AstraZeneca Pharma India and Mankind Pharma entered into a distribution agreement for AstraZeneca’s budesonide and formoterol fumarate dihydrate (inhaled corticosteroid (ICS) and long-acting beta-agonist (LABA) combination) brand Symbicort in India. AstraZeneca will retain the intellectual property rights to budesonide and formoterol fumarate dihydrate and will continue to be the Marketing Authorization Holder (MAH) and import license.

HG Infra Engineering: The company has received a letter of award from the National Highways Authority of India (NHAI) for an access-controlled highway of 4 lanes in Andhra Pradesh in hybrid lane mode. The project cost is Rs 862.11 crore, and the construction period for the said project is 24 months.

Aurobindo Pharma: The Prequalification Unit Inspection Team (PQT-INS) of the World Health Organization (WHO) conducted an inspection at Unit IV, a formulation manufacturing facility, of APL Healthcare, a wholly owned subsidiary of the company, in Andhra Pradesh, during September 11–15, 2023. After the inspection, the PQT-INS has decided to recommend to the Prequalification Assessment Team that the facility be named as a manufacturing site in the dossier for Dolutegravir, Lamivudine, and Tenofovir Disoproxil Fumarate tablets in the 50/300 mg strengths.

R. K. Swamy: The marketing services provider is set to debut on the BSE and NSE on March 12. The final issue price has been fixed at Rs. 288 per share.

Gandhar Oil Refinery: The BSE is going to add Gandhar Oil Refinery (India) and IRM Energy to its S&P BSE Energy index, with effect from March 18.

Jupiter Life Line Hospitals: Concord Biotech, Jupiter Life Line Hospitals, Blue Jet Healthcare, Yatharth Hospital & Trauma Care Services, and Innova Captab will be added to S&P BSE Healthcare, with effect from March 18.

Jupiter Wagons: The company has secured a contract worth Rs 957 crore from the Ministry of Railways for the manufacturing and supply of BOSM wagons.

Medico Remedies: Chanakya Opportunities Fund I have bought 4.4 lakh equity shares in the pharma company (equivalent to 0.53 percent of paid-up equity) at an average price of Rs 84.6 per share.

ESAF Small Finance Bank: The small finance bank said the Board of Directors has approved the raising of funds up to Rs 135 crore via the issuance of Tier ll bonds on a private placement basis.

HIL: The company has received board approval for the acquisition of 100 percent shareholding in Crestia Polytech along with four other entities, namely Topline Industries, Aditya Polytechnic, Sainath Polymers, and Aditya Industries, for Rs 265 crore on a cash-free and debt-free basis. This acquisition will strengthen the company’s pipes and fittings business in Eastern India.

Pitti Engineering: The company has signed an agreement with Bagadia Chaitra Industries (BCIPL) and its shareholders to acquire 100 percent shareholding in Bagadia Chaitra Industries at an enterprise valuation of Rs 124.92 crore. Pitti will infuse up to Rs 40 crore as funding into Bagadia Chaitra Industries on the closing date to repay the existing debt in BCIPL.

Bharat Highways Infrastructure Investment Trust: The InvIT is going to debut on the BSE and NSE on March 12. The issue price is Rs 100 per unit.

V R Infraspace: The real estate development company is set to list shares on the NSE Emerge on March 12. The issue price is Rs. 85 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Markolines Pavement Technologies: Quantum Growth Partners LLP has bought 96,000 equity shares in the highway operations and maintenance services company at an average price of Rs 141.99 per share. Prakash Pai Peraje purchased 1,16,000 shares at an average price of Rs 142 per share.

Praveg: Patel Ashaben Vishnukumar, the part of the promoter group, sold 7 lakh equity shares (2.85 percent of paid-up equity) in the event and exhibition management company at an average price of Rs 850.51 per share; however, Goldman Sachs Funds – Goldman Sachs India Equity Portfolio purchased 5,34,171 equity shares (2.18 percent stake) at an average price of Rs 850 per share.