Buzzing Stocks: Biocon, Aether Industries, Kotak Bank, Tata Power, HAL, others in focus today

Kotak Mahindra Bank: Canada Pension Fund is likely to sell 1.66% stake in the private sector lender, reports CNBC-TV18 quoting sources. The deal size may be around $754 million. Canada Pension Plan Investment Board holds 4.34% stake or 8.63 crore shares in the bank as of March.

Biocon: The Active Pharmaceutical Ingredient (API) manufacturing facility in Bangaluru has received a certificate of GMP (good manufacturing practice) compliance from the Competent Authority of Germany. The said Bangaluru facility went under an EU GMP inspection in February.

Hindustan Aeronautics: The state-owned defence company said the meeting of the Board of Directors will be held on June 27 to consider a proposal of sub-division of equity shares. Hence, the trading window for trading in the securities of the company will remain closed for all insiders including designated persons, connected persons and their immediate relatives, from June 9 till 48 hours after declaration of the outcome of the board meeting.

Tata Power: Tata Power Renewable Energy through its subsidiary TP Vardhaman Surya received Letter of Award (LoA) to set up 966 MW RTC (round-the-clock) hybrid renewable power for Tata Steel. The project has the hybrid renewable capacity of 379 MW solar and 587 MW wind power. Tata Steel will invest 26% equity in the said project. The project will be commissioned by June 1, 2025.

Blue Dart Express: The board of directors of the company has approved an appointment of Sudha Pai as Chief Financial Officer (CFO) and V N Iyer as Group Chief Financial Officer (Group CFO), with effect from September 1.

NHPC: Subsidiary NHDC has received a pump hydro storage site in Khandwa, Madhya Pradesh with estimated storage capacity of 525 MW X 6 hours, from New and Renewable Energy Department, Government of Madhya Pradesh.

GAIL India: The state-owned natural gas company has released payment to all stakeholders of JBF Petrochemicals as per NCLT order. The Corporate Insolvency Resolution Process (CIRP) will be completed in 15 months. GAIL has already infused total resolution plan amount of Rs 2,101 crore, thus acquiring 100% stake in JBF Petrochemicals.

Aether Industries: The speciality chemical manufacturer has inked a license agreement with Saudi Aramco Technologies Company for the commercialisation of the sustainable Converge polyols technology. The agreement formally initiates Aether’s activities towards manufacturing and commercialisation at Aether of the Converge polyols technology and product series.

Snowman Logistics: Gateway Distriparks has acquired additional 14 lakh shares in the logistics company via open market transactions at an average price of Rs 43.32 per share. In previous session too, Gateway Distriparks bought additional 11 lakh shares or 0.65% stake in Snowman Logistics.

United Drilling Tools: Ace investor Ashish Kacholia has sold 1.58 lakh equity shares or 0.78% stake in oilfield equipments manufacturer via open market transactions at an average price of Rs 190.49 per share. Kacholia held 5.7 lakh shares or 2.81% stake in the company as of March 2023.

JHS Svendgaard Laboratories: Nikhil Vora and his wife Chaitali has sold 1.19% stake in the oralcare products manufacturer, via open market transactions. Nikhil has offloaded 3.91 lakh shares at an average price of Rs 19.21 per share, and Chaitali N Vora sold 3.83 lakh shares at an average price of Rs 18.2 per share.

Ceat: The tyre maker has entered into a fifth addendum agreement to the existing share subscription and shareholders’ agreement with Tyresnmore Online and other parties, for making a further investment of upto Rs 9 crore in Tyresnmore, to acquire additional 10.89% stake. Now, Tyresnmore will become subsidiary of Ceat with 56.9% stake.

IRB Infrastructure Developers: The road developer has registered toll collection growth of 20% in May 2023, at Rs 411 crore, against Rs 343 crore in May 2022.

PTC Industries: The company said the board of directors has approved the issue of equity shares worth up to Rs 45 crore, on preferential basis.