Buzzing Stocks: Tata Steel, Innova Captab, Federal Bank, Azad Engineering, others in news

Tata Steel: The Uttar Pradesh State Pollution Control Board has imposed an environmental damage compensation of Rs 6.75 lakh with respect to the company’s Sahibabad plant. The company has paid the environmental damage compensation on a non-prejudice basis.

Innova Captab: The pharmaceutical firm is set to debut on the bourses on December 29. The final issue price has been fixed at Rs. 448 per share.

Tata Coffee: The composite scheme of arrangement amongst Tata Consumer Products (TCPL), Tata Coffee (TCL), and TCPL Beverages & Foods (TBFL) will be effective January 1, 2024. With the scheme becoming effective on January 1, 2024, Tata Coffee will get dissolved without winding up, and accordingly, the offices of all directors and key managerial personnel of the company will stand vacated on that date without further course of action. The record date has been fixed as January 15, for determining the shareholders of TCL to whom equity shares of TCPL would be allotted pursuant to the demerger and the amalgamation.

Aditya Birla Fashion and Retail: Subsidiary Finesse International Design (FIDPL) has allotted 1,93,964 equity shares for Rs 20 crore to Aditya Birla Fashion and Retail. Pursuant to this, the holding of the company in FIDPL has increased from 58.69 percent to 63.50 percent of equity share capital of FIDPL.

IDFC First Bank: ICICI Prudential Asset Management Company and ICICI Prudential Life Insurance Company have received approval from the Reserve Bank of India, to acquire up to 9.95 percent of the paid-up share capital or voting rights of IDFC FIRST Bank.

Azad Engineering: Sovereign wealth fund Abu Dhabi Investment Authority has picked 3.98 lakh equity shares, or 0.67 percent of paid-up equity, in the high-precision forged and machined components maker at an average price of Rs 719.9 per share, which amounted to Rs 28.65 crore.

Punjab National Bank: The public sector lender said the Board of Directors has approved the proposal for raising of equity capital up to Rs 7,500 crore in one or more tranches during FY25 through qualified institutions placement (QIP)/follow on public offer (FPO).

Indiabulls Housing Finance: High networth individual Mathew Cyriac picked additional 25 lakh equity shares or 0.52 percent stake in the housing finance company via open market transactions at an average price of Rs 213.53 per share, in addition to 24.99 lakh shares bought on Tuesday. However, SBI Mutual Fund A/C SBI Arbitrage Opportunity Fund sold 30,90,600 equity shares in Indiabulls Housing at an average price of Rs 218.16 per share, and ICICI Prudential Mutual Fund A/C Equity – Arbitrage Fund offloaded 25,34,700 shares at an average price of Rs 218.74 per share.

Federal Bank: The Reserve Bank of India (RBI) has given its approval to ICICI Prudential Asset Management Company (ICICI AMC) for acquiring up to 9.95 percent of the paid-up share capital or voting rights of Federal Bank.

Asian Paints: The company’s Sriperumbudur plant has received an environmental clearance from State Environment Impact Assessment Authority, Tamil Nadu. The Sriperumbudur plant is operating with the required licenses and approvals. The license document granting the environmental clearance is awaited.

TVS Holdings: Subsidiary Emerald Haven Realty (EHRL) has agreed to acquire an additional 8.23 percent stake in Emerald Haven Town and Country (EHTCPL), a subsidiary of EHRL, through purchase of 5.5 crore optionally convertible redeemable preference shares of Rs 10 each (OCRPS) from ASK Real Estate Special Opp. Fund II. With this, the shareholding of EHRL in EHTCPL will increase from 85.44 percent to 93.67 percent on fully diluted basis.

RailTel Corporation of India: The company has received the work order amounting to Rs 120.45 crore from South Central Railway for comprehensive signalling and telecommunication works for provision of automatic block signalling system in Yermaras-Nalwar section of Guntakal division in South Central Railway.

Zydus Wellness: Threpsi Care LLP, the alternate investment fund, sold 7.8 lakh equity shares or 1.22 percent stake in the company at an average price of Rs 1,632 per share, which were valued at Rs 127.3 crore. Threpsi Care held 11.35 percent stake in the company as of September 2023. However, SBI Mutual Fund picked 3.9 lakh shares and promoter entity Zydus Family Trust bought 3.9 lakh shares, at same price.

Zee Entertainment Enterprises: Investment firm Plutus Wealth Management LLP has bought 61,10,797 equity shares (0.63 percent of paid-up equity) in the media and entertainment company via open market transactions at an average price of Rs 270.07 per share. These shares are valued at Rs 165.03 crore.

Satin Creditcare Network: The microfinance institution has entered into a master agreement for co-lending of loans to microfinance borrowers via a co-lending module in tranches with Karnataka Bank. The company will also act as the service provider, and the collections and monitoring will be managed by the company.

RBL Bank: The Reserve Bank of India has given its approval to ICICI Prudential Asset Management Company and ICICI Prudential Life Insurance Company to acquire up to 9.95 percent of the paid-up share capital or voting rights in RBL Bank within a period of one year, i.e., by December 26, 2024. The approval has been granted with reference to the application made by I-Pru AMC and IPru Life to the RBI. As of December 22, the ICICI Group (including ICICI Prudential Life Insurance and ICICI Prudential Asset Management Company) held 2.08 percent equity in RBL Bank.

Aarti Drugs: The company has received an administrative warning letter from SEBI regarding the non-disclosure in the event of the closure of the company’s Sarigam plant in April 2022. At that point in time, the event was considered non-material as per the company policy, and hence this event was not disclosed at that point in time.

Swan Energy: The company said the board has approved raising funds up to Rs 4,000 crore through the issuance of equity shares or any other eligible securities. Further, the company would seek the requisite approval for the fund-raising from its shareholders through an extraordinary general meeting.

Marine Electricals (India): The company has received an order worth Rs 31.85 crore from the Ministry of Defence for the procurement of six integrated bridge systems (IBS) for the TEG and Shivalik classes of ships. The delivery will be over a period of 36 months. The order includes a 5-year AMC amounting to Rs 6 crore.

Info Edge (India): The company has agreed to invest Rs 25 crore in its subsidiary, Zwayam Digital, which provides SaaS-based sourcing and screening recruitment solutions. This investment is being made to meet the working capital requirements of Zwayam.

GPT Infraprojects: Foreign company Nine Rivers Capital sold 3,41,410 equity shares or 0.58 percent of paid-up equity in the company at an average price of Rs 164.5 per share. Nine Rivers held 44.02 lakh shares or 7.57 percent stake in the company as of September 2023.

Supreme Power Equipment: The company will list its equity shares on the NSE Emerge on December 29. The issue price is at Rs 65 per share. Its equity shares will be available for trading in trade-for-trade segment.

Bondada Engineering: The company said the board of directors will be meeting on December 29 to consider the acquisition of substantial stake of 60 percent in the equity share capital of Atpole Technologies.

Indifra: Trading in equity shares of the company on the NSE Emerge will commence with effect from December 29. The issue price is Rs 65 per share. Its equity shares will be available for trading in trade-for-trade segment.

Alfa Transformers: The company has received a purchase order worth of Rs 1.99 crore from Tata Power Northern Odisha Distribution.

Waaree Renewable Technologies: The company has signed a collaboration agreement with Australian company 5B Maverick Services Pty Ltd, to accelerate the deployment of utility-grade solar power locally in India as well as in international.

Trident Techlabs: The company is set to make its debut on the NSE Emerge on December 29. The issue price has been fixed at Rs 35 per share. Its equity shares will be available for trading in trade-for-trade segment.