Stocks in news: RIL, Lupin, SpiceJet, ICICI Bank, Power Grid and more

The domestic equity market ended higher on Monday. Sensex rose 528 points to 67,127 and Nifty added 176 pts to 19,996.  

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

NTPC 

The power major's subsidiary NTPC Green Energy has inked a MoU with Nayara Energy to explore opportunities in the green hydrogen and green energy space for captive usage. 

Laurus Labs 

The company has signed a share purchase agreement with a promoter and other shareholders of Laurus Bio for 37,641 equity shares through secondary purchase for Rs 71.6 crore. With the acquisition, the company's shareholding in Laurus Bio will become 87.58% on a fully diluted basis. 

Krishna Institute of Medical Sciences 

The firm's subsidiary KIMS Hospital Enterprise has bought an additional equity stake of 13.24% in Kondapur Healthcare for Rs 20 crore. The total stake now stands at 19.86%. 

ICICI Bank 

ICICI Bank said the RBI has cleared the reappointment of Sandeep Bakhshi as Managing Director and CEO of the private lender for three years. The reappointment of Bakhshi will be effective from October 4, 2023, till October 3, 2026, the bank said. The lender’s shareholders have already approved the appointment of Bakhshi for three more years. 

Power Grid 

State-owned Power Grid Corporation of India Ltd (PGCIL) said it has won the tariff-based competitive bidding to set up a 20-GW inter-state transmission system project in Rajasthan."...it is to inform that Power Grid Corporation of India Ltd has been declared as the successful bidder under tariff-based competitive bidding to establish an Inter-State Transmission System Project for evacuation of power from REZ in Rajasthan (20 GW) under Phase-III Part C1 on Build, Own Operate and Transfer (BOOT) basis," it said. 

Lupin  

The company plans to ink a business transfer agreement with its arm Lupin Manufacturing Solutions to carve out two active pharmaceutical ingredients (API) manufacturing sites at Dabhasa and Visakhapatnam and select R&D operations, including fermentation, at Lupin Research Park, Pune. 

Torrent Power 

The company said it has received confirmation from the promoter group members that there are no plans to create any pledge over the promoter's shares in the company.  

SpiceJet  

SpiceJet said it will "complete the payment of Rs 100 crore" to former promoter Kalanithi Maran by September 12, as per the directions of the Delhi High Court. It has so far "made a payment of Rs 77.5 crore" to Maran, and will make another payment of Rs 22.5 crore by "tomorrow", the airline added in a statement. 

RIL  

Reliance Industries Ltd's wholly-owned subsidiary Reliance Retail Ventures Limited on Monday said that global investment firm KKR, through an affiliate, will invest Rs 2,070 crore into RRVL to increase its stake to 1.42%. This investment values RRVL at a pre-money equity value of Rs 8.36 lakh crore, which makes it among the top four companies by equity value in the country. 

 

 Disclaimer: Under no circumstances should any person at this platform make trading decisions based solely on the information discussed herein. You should consult a qualified broker or other financial advisor prior to making any actual investment or trading decisions. All information is for educational and informational use only. Business Today does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same.   

 

Also read: Stocks that share market analysts recommended on September 12, 2023: HDFC Bank, Zomato, PowerGrid and GAIL India

Also read: Retail inflation data for August to be out today, iPhone 15, Apple Watch Series 9 launch at Apple Event 2023 in Top News on September 12: Share markets, Bank Nifty outlook, Kundan Edifice IPO to open

Also read: L&T, PowerGrid, Jupiter Wagons, HFCL, other stocks to watch on September 12, 2023