Buzzing Stocks: TCS, Veritas, Tata Steel, Devyani International, L&T Finance Holdings, Lemon Tree Hotels, Royal Sense and others in news

Tata Consultancy Services: Tata Sons has offered to sell 2.34 crore shares of the IT major at Rs 4,001 per share through block deals to raise up to $1.1 billion, reported Bloomberg. The reported price represents a 3.6 percent discount to the last traded price.

Tata Steel: Tata Steel UK has decided to cease operations of the coke ovens at the Port Talbot plant in Wales after a deterioration of operational stability. It will increase imports of coke to offset the impact of the coke oven closures. Tata Steel is currently at an advanced stage of consultations with trade unions in the UK on its proposal for the planned restructuring involving the closure of the iron and steelmaking assets at Port Talbot.

Aditya Birla Sun Life AMC: Promoters, Aditya Birla Capital, and Sun Life (India) AMC Investments Inc. will sell up to 2,01,66,293 equity shares of Aditya Birla Sun Life AMC (which is equivalent to 7 percent of the total paid-up equity) through an offer-for-sale (OFS) issue, with an option to additionally sell up to 1,28,86,277 equity shares (4.47 percent of paid-up equity). The OFS will open to non-retail investors on March 19, and retail investors can participate in the issue on March 20. The floor price for the issue has been fixed at Rs 450 per share.

Sonata Software: The modernization engineering company has signed a joint go-to-market agreement with Zones, LLC, a global provider of end-to-end IT solutions and cloud-managed services. As part of the five-year partnership, they will support cost efficiency and data optimization through joint offerings and the delivery of industry-specific solutions.

IOL Chemicals and Pharmaceuticals: The Brazilian Health Regulatory Agency (ANVISA) has successfully completed the GMP audit of the company’s all 10 API manufacturing units at Barnala, Punjab, without any observation. The inspection was conducted on March 11–15.

Veritas (India): The company, in consortium with Genesys International Corporation, has received a Letter of Acceptance from Brihanmumbai Municipal Corporation (BMC) for the project worth Rs 155.85 crore. The project includes the development, implementation, and maintenance of a 3D city model and change detection using geospatial technology for BMC.

Devyani International: Rajat Luthra has resigned as CEO of KFC, with effect from March 29. Pradeep Das will be taking over the charge as CEO of KFC from Rajat Luthra. Currently, Pradeep Das is the CEO of airports and institutional businesses.

HG Infra Engineering: Jodhpur Vidyut Vitran Nigam has issued letters of award to Stockwell Solar Services JV consortium with HG Infra Engineering for four projects of solar business worth Rs 1,026 crore.

L&T Finance Holdings: The company has received approval from the Board of Directors for raising funds up to Rs 1.01 lakh crore through non-convertible debentures (NCDs) in one or more tranches.

Lemon Tree Hotels: The company has signed a license agreement for Lemon Tree Hotels Agartala in Tripura. The hotel is expected to open in FY27. Carnation Hotels, a wholly owned subsidiary and the hotel management arm of the company, will be operating this hotel.

Royal Sense: The medical equipment supplier is set to debut on the BSE SME on March 19. The issue price is Rs. 68 per share. The stock will be in the trade-for-trade segment for 10 trading days.

Dishman Carbogen Amcis: Switzerland-based subsidiary Carbogen AMCIS, a pharmaceutical process development and active pharmaceutical ingredient (API) manufacturing company, announced the successful completion of its first Brazilian Regulatory Authority Agency (ANVISA) routine inspection of its facility in Shanghai. The said inspection was undertaken during November 6–10, 2023, and concluded with no critical or major observations. Hence, a good manufacturing practice (GMP) certificate has been granted to the site by the authority.

Signoria Creation: The women’s apparel manufacturer will debut on the NSE Emerge on March 19. The final issue price has been fixed at Rs. 65 per share.

Shipping Corporation of India Land and Assets: The company will list its equity shares on the NSE and BSE on March 19 after the scheme of arrangement.

Hazoor Multi Projects: Satya Narayan Tripathi has resigned as Chief Financial Officer (CFO) of the company with effect from March 31, 2024.

S&T Corporation: Dhaval Savai has resigned as Executive Director and Chief Financial Officer of the company with immediate effect, but he continued as a non-executive, non-independent director on the board. The Board of Directors has appointed Trishana Savai as Executive Director and Chief Financial Officer of the company with immediate effect. Currently, Trishana Savai is the Executive Director of the company.

RPP Infra Projects: The company has received a letter of acceptance for a new project worth Rs 94.13 crore from the State Industries Promotion Corporation of Tamilnadu (SIPCOT). The project includes the formation of northern, western, and eastern side internal roads, the construction of RCC drains, RCC culverts, minor bridges, and providing pipe-causeway and street light arrangements in SIPCOT Industrial Park, Shoolagiri.

Popular Vehicles and Services: The automobile dealer is set to list its equity shares on the bourses on March 19. The final issue price has been fixed at Rs. 295 per share.