Trending Stocks: Tata Steel, Glenmark, SBI and others in news today
Tata Steel will boost the operation of NINL to a rated capacity of 1.1MT per annum
SBI has acquired 9.54% stake in Perfios Account Aggregation Services
Route Mobile board has approved the proposal of buyback of equity shares of Rs 120 crore
Tata Steel Chairman N Chandrasekaran said the company, after completing the acquisition, will boost the operation of Neelachal Ispat Nigam Limited to a rated capacity of 1.1 million tonnes per annum within the next year. However, the boosting up of the operations of Neelachal Ispat Nigam Limited (NINL) would be subject to obtaining statutory clearances.
The Mumbai-based company said it has acquired the approved generic versions of certain over-the-counter drugs from Wockhardt Limited in the US for an undisclosed amount. The move is expected to strengthen the acquirer’s OTC presence in the US. The acquisition includes the approved abbreviated new drug applications (ANDAs) for famotidine tablets, 10 mg, and 20 mg, used to treat and prevent ulcers in the stomach and intestine, the company said in the statement.
State Bank of India
The country’s largest public-sector lender has entered into an agreement for the investment of Rs 4 crore in equity shares of Perfios Account Aggregation Services Private Limited, the NBFC account aggregator. This investment would be subject to approval from the Reserve Bank of India (RBI). SBI will hold a 9.54% stake in Perfios Account Aggregation Services.
The company informed exchanges that the board has approved the proposal of buyback of equity shares of the company up to Rs 120 crore at a price of up to Rs 1,700 per share. At maximum buyback price (Rs 1,700), and maximum buyback size (Rs 120 crore), the size of maximum buyback shares would be 7.05 lakh equity shares, which is 1.12% of paid-up equity.
Jammu & Kashmir Bank
The private lender said the board has approved raising of equity capital up to Rs 500 in one or more tranches, and additional Rs 1,500 crore via debentures on a private placement basis.
Orient Bell Limited has announced the on-time completion of two projects involving a CAPEX of Rs 20 crore GVT Tile plant capacity in Sikandrabad (UP) has increased by 0.7 million square meters (MSM) per annum. Additionally, there was a conversion of the Dora Plant (Bharuch District, Gujarat) from Ceramic Floor to Vitrified Floor with incremental volume potential being around 1.2 MSM per annum.
Hazoor Multi Projects
The company has secured a work order from Nagpur Mumbai Super Communication Expressway Ltd for the execution of change of scope work in district Ahmednagar of package-11 on EPC mode for Rs 14.11 crore.
Godawari Power & Ispat
The company has purchased 37.79 lakh equity shares of Alok Ferro Alloys (AFAL) at a fair value consisting of 78.96% of the paid-up capital of AFAL. AFAL is involved in ferro alloys with captive power generation, having operations in Raipur, Chhattisgarh only.
Shri Bajrang Alliance
The company has entered into an agreement with LULU Group International LLC, Abu Dhabi for the supply of GOELD frozen food items in Middle East Markets (UAE, KSA, etc.) and also through their India network. The purchase orders for the first 2 lots have been received.