Buzzing Stocks: RIL, Vascon Engineers, NHPC, Atul Auto & others in news today

Reliance Industries: The Qatar Investment Authority will invest $1 billion or Rs 8,278 crore in Reliance Retail Ventures (RRVL), the subsidiary of Reliance Industries, to pick up a stake of 0.99 percent. The investment values the company at a pre-money equity value of $100 billion or Rs 8.27 lakh crore. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

Coforge: Promoter Hulst BV is looking to offload its entire 26.63% stake in the mid-sized IT firm via a block deal, sources told CNBC Awaaz. The floor price has been fixed at Rs 4,550 per share, which is a 7.4% discount to Wednesday’s closing price of Rs 4,913. The Netherlands-registered Hulst BV is owned and controlled by funds affiliated with BPEA (Baring Private Equity Asia). Hulst BV will sell 1.62 crore shares, taking the deal size to around Rs 7,400 crore, sources said.

NHPC: The state-owned entity has signed a Memorandum of Understanding (MoU) with Andhra Pradesh Power Generation Corporation (APGENCO) for implementation of pumped storage hydro power projects and renewable energy projects in Andhra Pradesh.

Torrent Pharmaceuticals: The USFDA has granted Voluntary Action Indicated classification to Torrent Pharma’s manufacturing site in Dahej, Gujarat. The Dahej site was earlier placed under ‘Official Action Indicated (OAI)’ classification based on a March 2019 inspection outcome. The site was re-inspected by the USFDA between May 17 and May 25, 2023 and the officials had issued Form 483 with two observations.

Atul Auto: Europe-based financial services group company Societe Generale has bought 1.41 lakh equity shares or 0.54% stake in the automobile company via open market transactions, at an average price of Rs 409.54 per share.

Panacea Biotec: Cyrus Poonawalla-founded Serum Institute of India has sold 5 lakh shares, which is equivalent to 0.8% of total paid-up equity, in the biotechnology company, via open market transactions. Shares were sold at an average price of Rs 146.31 per share. Serum Institute held 6.97% stake or 42.7 lakh shares in the company as of June 2023.

Shriram Properties: Foreign company Omega TC Sabre Holdings Pte Limited sold further 12.83 lakh equity shares in the south-based real estate developer via open market transactions, at an average price of Rs 83.58 per share. Omega sold 69.83 lakh shares or 4.1% stake in the company in last three days, against its shareholding as of June 2023 in the company was 9.39% or 1.59 crore shares.

Snowman Logistics: Promoter Gateway Distriparks has bought 11 lakh shares or 0.66% shareholding in the logistics company, at an average price of Rs 53.36 per share. Gateway held 41.75% stake in the company as of June 2023.

Vascon Engineers: The construction company has received Letter of Acceptance amounting to Rs 605.65 crore from Bihar Medical Services & Infrastructure Corporation, for construction of Lohia Medical College & Hospital including hospital and residential building, Supaul. The EPC work order has to be completed within 36 months from the date of receipt of Letter of Acceptance.

Procter & Gamble Health: The FMCG company has reported net profit at Rs 29.8 crore for quarter ended June FY23 (Q4FY23), falling 28% compared to year-ago period due to higher material cost and one-time employee cost. Revenue from operations grew by 1.8% year-on-year to Rs 301.2 crore during the quarter. The company announced a final dividend of Rs 50 per share for financial year ended June 2023.

Ceinsys Tech: Zodius Technology Fund II has sold 3.64 lakh shares or 2.35% stake in the geospatial & engineering services provider, via open market transactions at an average price of Rs 207.65 per share. Zodius Technology Fund held 6.66% stake or 10.28 lakh shares in the company as of June 2023. DP Jain & Co Infrastructure also sold 1.88 lakh shares in the company at an average price of Rs 209.76 per share, against 2.54% shareholding (3.91 lakh shares) as of June 2023.

GI Engineering Solutions: GG Engineering has sold 36.64 lakh equity shares or 4.25% stake in the company via open market transactions at an average price of Rs 12.06 per share. In last three days, GG Engineering has offloaded total 86.19 lakh shares or 10% shareholding in the company, against the shareholding of 24.47% or 2.1 crore shares as of June 2023.

GEE: Meru Investment Fund PCC- Cell 1 has bought 1.5 lakh shares or 0.58% stake in the welding solution company at an average price of Rs 82.74 per share.