Stocks in news: YES Bank, Grasim, Asian Paints, Rail Vikas Nigam and more

Equity markets fell for the second straight session on Friday amid weak global cues. Sensex dropped 259.52 points to settle at 62,979.37, while Nifty lost 105.75 points to end the week at 18,665.50. Broader markets underperformed the headline peers as BSE midcap and smallcap indices dropped over a per cent each.  

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

Ipca Laboratories 

The US Food and Drug Administration (US FDA) has issued Form 483 with eight observations for company's Pithampur formulations manufacturing facility in Madhya Pradesh. The USFDA conducted the inspection of said facility during June 15-June 23. 

Asian Paints 

The paint manufacturer has bought additional 11 percent equity stake in Obgenix Software (brand name White Teak) for Rs 54 crore, from promoters Pawan Mehta, and Gagan Mehta. The company now holds 60 percent stake in White Teak, up from 49 percent earlier and as a result, White Teak has become a subsidiary of Asian Paints. 

Rail Vikas Nigam 

The state-owned railway company has emerged as the lowest bidder a project of design and construction of elevated metro viaduct, from Maharashtra Metro Rail Corporation. The cost of project is Rs 394.9 crore and the said project is expected to be executed in 30 months. 

Cambridge Technology Enterprises 

The IT firm has received nod from its board for acquisition of US-based Appshark Software Inc for Rs 41 crore. Appshark is primarily engaged in salesforce consulting and custom software development. The said acquisition is likely to be completed by March 2026. It also acquired RP Web Apps for Rs 3 crore and the said acquisition is expected to be completed by July 30, 2023. 

AU Small Finance Bank 

The bank said its board members will meet on June 29 to consider raising of funds by issue of equity shares or debt instruments. 

HDFC Life Insurance Company 

The Insurance Regulatory and Development Authority of India (IRDAI) awarded nod for transfer of shares of HDFC Life, from HDFC to HDFC Bank in view of the proposed amalgamation between HDFC and HDFC Bank. IRDAI also given approval for HDFC to buy additional shares in HDFC Life, so the holding to be more than 50 percent of its total share capital. 

 Zydus Lifesciences 

The company’s subsidiary Zydus Animal Health and Investments has inked a share purchase agreement with Rising Sun Holdings and Mylab Discovery Solutions to buy 6.5 percent stake in Mylab from Rising Sun Holdings, for Rs 106 crore. The proposed investment in Mylab will help Zydus to participate in growing diagnostics space. 

Godrej Properties 

The real estate developer has bought approximately 15 acre in Gurugram, Haryana through an outright purchase, for the development of premium residential apartments. 

RattanIndia Power 

The company said it has refinanced its senior debt in a Rs 1,114 crore transaction led by Kotak Mahindra Bank.

Shree Cement  

Shree Cement has issued a clarification on the income tax surveys and said the management team of the company is extending full cooperation to the officials and that any information circulating in the media otherwise is incorrect. 

NHPC  

State-owned NHPC has signed an initial pact with an Odisha state utility to develop 2,000 MW of pumped storage projects and 1,000 MW renewable energy in the state. 

Grasim  

The company's board has cleared the issue of non-convertible debentures on private placement basis, for an amount not exceeding Rs 2,000 crore, in one or more tranches. 

YES Bank  

The Bank's Board has cleared raising funds in Indian or foreign currency up to an amount of Rs 2,500 crores by issue of debt securities.