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Stocks in news: Lupin, Biocon, Policybazaar, Cummins India and more

Stocks in news: Lupin, Biocon, Policybazaar, Cummins India and more

Stocks to watch out for today: Lupin, Biocon, Veranda Learning Solutions, Fino Payments Bank, PB Fintech, Hariom Pipe Industries, Cummins India, Tube Investments, PNB and more

Stocks to watch out for today: Lupin, Biocon, Veranda Learning Solutions, Fino Payments Bank,  PB Fintech, Hariom Pipe Industries, Cummins India, Tube Investments, PNB and more Stocks to watch out for today: Lupin, Biocon, Veranda Learning Solutions, Fino Payments Bank, PB Fintech, Hariom Pipe Industries, Cummins India, Tube Investments, PNB and more

The Indian market closed at its record high witnessing an across-the-board rally on Thursday. Sensex closed 762.10 points or 1.24% higher at 62,272 . During the day, the index zoomed to an all-time high of 62,412.33. Nifty rose 216.85 points or 1.19% to end at 18,484. The 50-stock index hit a record high of 18,529 during the session.

Market cap of BSE listed firms rose to a high of Rs 283.69 lakh crore with investor wealth rising by Rs 2.46 lakh crore in the session.

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Here's a look at stocks that are likely to remain in news today.

Lupin: The USFDA has issued Form-483 with eight observations for the drug product facility and API facility at Mandideep. The drug regulator had inspected company's Mandideep unit-1 facility during November 14-23, 2022. "We do not believe this will have an impact on disruption of supplies or the existing revenues from operations of this facility," the company said.

Biocon: Biocon Biologics has allotted equity shares worth Rs 2,205.63 crore to parent company Biocon. Its stake in Biocon Biologics will be 88.85% post allotment of shares.

Veranda Learning Solutions: Veranda Learning Solutions partners with IIM Raipur & SHRM to launch online MBA. IIM Raipur is collaborating with Veranda Learning Solutions, and the Society for Human Resource Management (SHRM) to launch an Executive Post Graduate Programme (online MBA) in HR management.

Fino Payments Bank: Capri Global Holdings bought an additional 6.06 lakh equity shares in the company via open market transactions. These shares were bought at an average price of Rs 258.47 per share.

PB Fintech: Hedge fund WF Asian Smaller Companies Fund has purchased 67.75 lakh shares in Policybazaar operator via open market transactions, which is 1.5 percent of total paid-up equity. The fund has bought 34.21 lakh shares on the NSE and 33.53 lakh shares on the BSE, at an average price of Rs 400 per share. The transaction was worth Rs 271 crore.

Hariom Pipe Industries: The company has completed the setting up of its 15 tonne electric melting furnace. The commercial production will commence from November 25, 2022. This will raise the company's production of MS billets from the current 95,832 MTPA to 1.04 lakh MTPA.

SJVN: The state-run utility player said it has commissioned a 75 MW solar power project at Parasan Solar Park in Uttar Pradesh. With the 75 MW Parasan Solar Power Project achieving commercial operation, the power producer's installed generation capacity stands at 2,091.5 MW.

Hi-Tech Pipes: The board of the firm has cleared issuance of 57 lakh fully convertible equity warrants. They can be allotted to at Rs 692 apiece to promoters, non-promoters and qualified institutional buyers. The company has also issued 3 lakh equity shares at Rs 692 apiece to non-promoter shareholders.

Mishtann Foods: The packaged foods player's promoter Hiteshkumar Gaurishankar Patel has bought 3,94,732 equity shares of the company via open market, increasing its shareholding to 49.37 per cent in the company.

Dev Information Technology: The smallcap IT services player will trade ex-stock split on Friday as the company has decided split its shares with a face value of Rs 10 each into two shares with a face value of Rs 5 each.

Cummins India: The company has appointed Bonnie Jean Fetch as an Additional Director (non-executive and non-independent) on the board. The appointment is subject to the approval of members of the company.

Punjab National Bank: The public sector lender has received approval of DIPAM, Ministry of Finance, for stake sale in UTI Asset Management Company in single or multiple tranches. As of now, PNB holds 15.22% stake in UTI AMC.

Tube Investments of India: The auto ancillary company will buy 50% stake in X2Fuels and Energy, a start-up company engaged in developing processes to convert waste to liquid/solid fuels, for Rs 6.15 crore. Tube Investments has inked shares' subscription agreement with X2Fuels and Energy, and its founders.

Laurus Labs: The company inked a Share Subscription Agreement and Shareholders' Agreement with Ethan Energy India for buying 26% stake in Ethan Energy India. The company will be able to utilise 100% of the solar energy to be supplied by Ethan Energy India from their 10 MW solar energy plant.

Keystone Realtors: Plutus Wealth Management LLP has purchased 17.1 lakh shares or 1.5% stake in the Rustomjee Group company at an average price of Rs 555.03 per share.
 

Published on: Nov 25, 2022, 8:12 AM IST
Posted by: Aseem Thapliyal, Nov 25, 2022, 8:04 AM IST