Stocks in news: Glenmark Pharma, Infosys, JSW Steel, ICICI Bank, Vedanta and more

Domestic equity market closed lower in the previous trading session. Sensex declined 570 points to 66230 and Nifty fell 159 points to 19742 on Thursday. Here’s a look at stocks that are likely to remain in news today.  

Glenmark Pharmaceuticals 

The global pharmaceutical company and Nirma have inked a definitive agreement to sell a 75% stake in its subsidiary, Glenmark Life Sciences (GLS). The firm will sell the stake for Rs 5,651.5 crore at the price of Rs 615 per share.  

ICICI Bank 

The private sector lender has inked an agreement for the investment of nearly Rs 5 crore in Quantum CorpHealth, which is a healthcare services platform. The transaction will be carried out via equity shares and compulsorily convertible preference shares (CCPS).  

Vedanta 

The mining company has received board’s approval for raising up to Rs 2,500 crore via non-convertible debentures (NCDs), in one or more tranche(s), on a private placement basis.  

Zuari Industries 

The company said its board of directors would consider the proposal of raising of funds on September 26. The company plans raise funds via the issuance of non-convertible debentures (NCDs), on a private placement basis.  

InterGlobe Aviation 

 Budget airline IndiGo and British Airways have inked a codesharing agreement to further boost the connections between India and the UK. After this agreement, British Airways will now be able to add three additional routes to their existing network.  

Tech Mahindra 

The IT solutions firm has cleared the merger of Tech Mahindra Credit Solutions Inc with its parent company Tech Mahindra (Americas) Inc. Tech Mahindra (Americas) Inc. is a wholly owned material subsidiary of Tech Mahindra.  

Infosys 

The IT firm will offer its Finacle Digital Banking Suite- Infosys Finacle, a part of EdgeVerve Systems, to Nigeria’s Guaranty Trust Bank which is the banking subsidiary of Guaranty Trust Holding Company Plc. Guaranty Trust Bank will use Infosys Finacle for its multi-country digital transformation programme.  

Samhi Hotels, Zaggle Prepaid Ocean Services  

Samhi Hotels will list on the bourses today. The issue price was fixed at Rs 126 per share. Zaggle Prepaid Ocean Services will also make its market debut today.  

 JSW Steel 

Caretta Minerals LLC, a step-down subsidiary of Periama Holding LLC, has inked an agreement to sell its property, plant and equipment and mineral rights to West Virginia Properties for $24 million. The agreement comes as operating the mines is not economically viable in the absence of coal mining lease and plant lease. Periama Holding LLC is a step-down subsidiary of JSW Steel. 

Also read: India Canada row: JSW Steel shares in focus on Teck coal unit report