3 March Stocks Updates
Table of Contents
UltraTech Cement
Over the following three years, the business plans to invest Rs 32,400 crore in continuing capital expenditures. To exceed 150 MTPA capacity, it has put two additional units in Chhattisgarh and Tamil Nadu into service.
Bharti Airtel
At a conversion price of Rs 518 per share, the firm authorized the distribution of 1.38 crore shares to holders of foreign currency convertible bonds.
HCLTech: The business’s division finished selling off a 49% share in its joint venture with State Street, a US company. The arm was paid $172.5 million in revenues for the sale of its investment, the termination of its services, and the fulfillment of its contractual obligations.
JSW Energy
A QIP fundraising up to Rs 5,000 crore at a floor price of Rs 510.09 per share was approved by the board.
Biocon
The business has been successfully transferred from Biocon Biologics to Eris Lifesciences for a lump sum payment of Rs 1,242 crore, inclusive of working capital adjustments.
Sunteck Realty
Bennett, Coleman, and company have a long-term lease on Sunteck Icon, the second premium commercial building at BKC Junction, from the company. Over a period of 29 years, this will enable the corporation to produce revenue of about Rs 2,000 crore.
Anupam Rasayan
The corporation and a Japanese multinational company inked a letter of intent for around Rs 743 crore to deliver two sophisticated intermediates employing fluorination chemistry beginning in FY 2024–2025.
Zee Entertainment Enterprises
Punit Goenka, MD and CEO of Zee Entertainment Enterprises, decides to voluntarily reduce his personal compensation by 20%.
Dhanlaxmi Bank
The company’s total deposits for the fourth quarter were Rs 14,259 crore, up 6.8% YoY, and total advances were Rs 10,409 crore, up 5.6% YoY.
Jammu and Kashmir Bank
The business and New India Assurance reached a deal for the latter’s insurance products to be serviced and solicited via the former’s branch network.
Hindustan Zinc
The business said that its Q4 silver output was 6.1 million ounces, up 4% year over year, while its Q1 mined metal output was 2.99 lakh tons, down 1% YoY.
Shriram Properties
The Chennai tax authorities issued the corporation a penalty notice for AY19 of Rs 447 crore.
Zensar Technologies
On April 1, the company’s subsidiary Foolproof Singapore amalgamated with the main business and ceased to be a distinct legal entity.
PNC Infratech
The business and NHAI reached settlement agreements worth Rs 117 crore for the one-time resolution of contractual disputes.
Ashiana Housing
For Rs 440.32 crore, the business sold every unit in the Gurugram project.
PC Jeweller
The company’s one-time settlement request to pay off outstanding debts was approved by Karur Vysya Bank.
Quick Heal Technologies
Seqrite’s enterprise division recently established a strategic alliance with M. Tech Solutions in an effort to bolster its position in the vital enterprise and government sectors and dramatically increase its footprint in India.
ESAF Small Finance Bank
As of April 2, the business has begun operationalizing its category 1 authorized dealer license.
Permission to transact in foreign exchange is granted by a Category 1 license.
Ramco Cements
On March 31, the company started commercial production after commissioning Line Il. Line Il has an annual capacity of 0.90 million metric tons for the production of cement. The grinding unit in Odisha now has an aggregate capacity of 1.8 Μ΢A.
Nalco
For FY24, the business had 4.6 lakh MT of cast metal production, 4.7 lakh MT of metal sales, and 76 lakh MT of bauxite excavation.
Olectra Greentech
Until December 31, 2030, the business will continue to work with BYD Auto Industry to manufacture and maintain electric buses.
Manali Petrochemical
From April 1, 2024, to March 31, 2026, the firm will continue to work with Fortuna Public Relations for a another two years. FPRPL will keep serving as a public relations consultant for matters pertaining to company image development, investor and media relations, and other related areas.
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