Buzzing Stocks: Jio Financial, Cipla, IndiGo, Star Housing Finance, VST, SpiceJet, Vi, United Breweries and others

Jio Financial Services: Jio Financial has signed an agreement with BlackRock Inc and BlackRock Advisors Singapore Pte Ltd to form a 50/50 joint venture for setting up wealth management and broking businesses in India. The launch of the wealth management and broking business is subject to regulatory and statutory approvals.

Cipla: Cipla Health, the wholly owned subsidiary of the company, has signed a business transfer agreement for the purchase of the distribution and marketing business undertaking of cosmetics and personal care businesses from Ivia Beaute, India, through a slump sale arrangement on a going concern basis. The deal value of Rs 130 crore on the closing date includes Rs 110 crore if certain financial parameters are met for the next 3 years.

Vodafone Idea: The extraordinary general meeting (EGM) of the telecom operator will be held on May 8.

InterGlobe Aviation: IndiGo’s market share increased to 60.5 percent in March 2024, up from 60.1 percent in February. In terms of on-time performance (OTP), IndiGo was in third place with 81.3 percent.

JSW Infrastructure: The company has re-appointed Arun Maheshwari as the joint managing director and chief executive officer, with effect from April 18. Further, Anoop Kumar Mittal is appointed as an additional and independent director of the company.

LTIMindtree: Pankaj Chugh as well as Gregory Dietrich have resigned as executive vice-president, global sales, of the company, with effect from April 15.

SpiceJet: The low-cost airline company’s market share in March 2024 increased to 5.3 percent, against 5.2 percent in the previous month. In terms of on-time performance (OTP), SpiceJet was in sixth place with 63.6 percent.

VST Industries: Ace investor Radhakishan Shivkishan Damani has picked 2,33,766 equity shares (equivalent to 1.51 percent of paid-up equity) in the cigarette manufacturing company at an average price of Rs 3,689.96 per share, valued at Rs 86.26 crore. However, HDFC Mutual Fund sold 1,30,811 equity shares in VST at an average price of Rs 3,690 per share and 2 lakh shares at an average price of Rs 3,690.38 per share.

Star Housing Finance: LIC Housing Finance has sanctioned a loan facility of Rs 25 crore to Star Housing Finance.

Gujarat Gas: The company has signed a non-binding Memorandum of Understanding (MOU) with Indian Oil Corporation to broaden the scope and accessibility of energy solutions for consumers. As per the MoU, Indian Oil Corporation will provide liquid fuels, automotive lubricants, greases, and specialties at Gujarat Gas outlets. Further, Gujarat Gas will set up a CNG facility and a CNG mother facility at Indian oil outlets.

United Breweries: The company has appointed Garima Singh as Corporate Affairs Director, with effect from April 15. Garima is a member of core management team of the company.

Punjab & Sind Bank: The bank has appointed Prem Chand Kumar as Chief Technical Officer (CTO) for 3 years, with effect from April 15. Prior to joining Punjab & Sind Bank, he was an advisor to the general manager’s (YONO) IT department at SBI.

GTPL Hathway: The digital cable TV services provider has recorded consolidated net profit of Rs 16 crore for the quarter ended March FY24, against a net loss of Rs 10.8 crore in the year-ago period despite a lower operating margin. Revenue from operations for the quarter at Rs 808 crore increased by 16.7 percent over the corresponding period last fiscal, with the digital cable TV business increasing 14 percent to Rs 314.8 crore and the broadband segment showing 5 percent growth at Rs 130.8 crore.

Brigade Enterprises: The board has appointed Jayant Bhalchandra Manmadkar as Chief Financial Officer of the real estate company, with effect from April 18.

Capacite Infraprojects: Valiant Mauritius Partners Offshore has picked 5,71,700 equity shares of the company at an average price of Rs 306.42 per share via open market transactions.

Manappuram Finance: The gold loan financing company said the board of directors will be meeting on April 19 to consider raising funds up to US$ 500 million in one or more tranches via external commercial borrowings.

Ramco Systems: The company has reached a settlement with the customer to pay US$1.50 million in two equal instalments before December 31, 2024, in full and final settlement of the dispute. The settlement amount has already been provided in the financials for the nine months ended December 31, 2023.

CCL Products (India): The company said its subsidiary Ngon Coffee in Vietnam has appointed Venkataramana Prasad Alam as its Chief Executive Officer (CEO) for four years, with effect from April 15.

Teerth Gopicon: The company will list its equity shares on the NSE Emerge on April 16. The issue price is Rs. 111 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

General Insurance Corporation of India: The Corporation said the board has appointed V Balkrishna as Chief Financial Officer and key managerial personnel in place of Jayashree Ranade, who will be retiring on April 30. V Balkrishna will be taking charge as Chief Financial Officer with effect from May 1. Currently, V. Balkrishna is the general manager of the corporation.

Marksans Pharma: The Massachusetts Institute of Technology has bought 66 lakh equity shares (equivalent to 1.45 percent of paid-up equity) in the pharma company at an average price of Rs 158 per share, which amounted to Rs 104.28 crore.

DCG Cables & Wires: The trading in equity shares of the company will commence on the NSE Emerge with effect from April 16. The issue price is Rs 100 per share. Its equity shares will be available for trading in the trade-for-trade surveillance segment.

Gokul Agro Resources: Subsidiary Riya Agro Industries has entered into a Memorandum of Agreement (MOA) with the Government of Andhra Pradesh for an oil palm development program in Ananthapuramu district.