Stocks To Watch: Nifty futures on the Singapore Exchange traded 46 points, or 0.25 per cent lower at 18,545, signaling that Dalal Street was headed for a negative start on Monday.
Uniparts India: The engineered systems and solution provider will make its Dalal Street debut on Monday. Its Rs 835.6 crore IPO was open was subscription between November 30 and December 2 which was sold in the range of Rs 548-577. It issue was overall subscribed more than 25.3 times.
Glenmark Pharma: The US health regulator issued warning letter for the drugmaker Glenmark Pharmaceuticals for manufacturing lapses at its Goa-based plant. The USFDA flagged off several lapses at the company’s Bardez-based facility in Goa, which produces drug formulations and said that it violates Current Good Manufacturing Practice (CGMP) regulations.
Jaiprakash Associates: The company has called a board meeting on Monday, December 12, to mull over sale of their Nilgrie cement unit in Madhya Pradesh. According to reports, Dalmia Cement is the frontrunner in the race to acquire the company, with the Adani Group and Aditya Birla Group also in the fray.
NDTV: The board approved proposal to invite RRPR Holding, which is an indirect subsidiary of Adani Enterprises and holds 29.18 per cent in NDTV, to nominate two directors on its board. The appointment of directors would be taken up at their next board meeting scheduled on December 23.
Mahindra Holidays: The company plans to invest up to Rs 1,500 crore in the next three years in expansion, which includes room additions and resort acquisitions. That apart, the company will also consider launching a new upscale brand for managing resorts in order to grow its Club Mahindra memberships.
Lupin: The drug major is set to enter the digital healthcare space in India with the launch of cardio-vascular therapeutics in 10 cities by February. The development comes after the firm announced its entry into the digital space in June 2021, and involves the creation a new subsidiary, Lupin Digital Health.
NTPC: The state-owned firm commenced commercial operation of its solar photo-voltaic project in Tamil Nadu. With this, the standalone installed and commercial capacity of NTPC has become 57,801.27 megawatt (MW), whereas the group’s grew to 70,416.27 MW.
YES Bank: The Reserve Bank of India issued two letters to the bank as the final nod for its proposed capital raise plan from the Carlyle Group and Verventa Holdings. YES Bank will now engage with the investors for completion of the proposed capital raise, subject to various regulatory compliances.
Hero MotoCorp: The two-wheeler maker announced resignation of its head of strategy, mergers and acquisitions, and global product planning – Malo Le Masson. Le Masson was with the company for over six years and will continue to work with the company until the end of December 2022.
Marico: The company’s subsidiary – Marico South-East Asia Corporation has inked pact to acquire 100 per cent of Beauty X, which owns female personal care brands Purité de Prôvence and Ôliv for Rs 172 crore. The transaction is expected to be completed by March 31, subject to requisite regulatory approvals.
V-Guard Industries: The Kerala-based firm signed definitive agreements to acquire complete stake in Sunflame Enterprises (SEPL) for Rs 660 crore. The transaction is expected to close by mid of January 2023.
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