JKB Financial Services Ltd.

As on : 25-Aug-2023

Market Commentary - Stock Alert
25-Aug-2023 08:32

BEL, RIL, Shoppers Stop, ADF Foods in focus

Bharat Electronics (BEL): The Defence Acquisition Council (DAC) has accorded 'Acceptance of Necessity' for the procurement and installation of an electronic warfare (EW) suite on Mi-17 V5 helicopters. The EW suite will be procured from BEL.

Reliance Industries (RIL): RIL and Oberoi Hotels and Resorts will jointly manage three properties across India and the UK. Properties include Anant Vilas in Mumbai, Stoke Park in the UK, and a new project in Gujarat.

Shoppers Stop: The company's MD and CEO, Venu Nair, has resigned effective 31 August 2023 due to personal reasons. Homestop chief Kavindra Mishra has been promoted as executive director and CEO for a period of three years, effective 1 September 2023.

DB Realty: The company sold its entire stake in unit Royal Netra Constructions for Rs 2.55 crore to Man Infraconstruction and Platinumcorp Constructions.

Garden Reach: The company signed an MoU with DEMPO Group, Goa, to launch a collaboration model to build commercial vessels in their shipyards in Goa and Bhavnagar, Gujarat.

Astra Microwave Products: The company got orders worth Rs 158 crore from ISRO, DRDO, and DPSU for the supply of satellite sub-systems, airborne radar, sub-systems of radar, and EW projects.

Prakash Industries: The company received the Environment Ministry's approval for the Bhaskarpara coal mine in Chhattisgarh, which will reduce costs and boost revenue through the open market sale of coal.

ADF Foods: The company set 11 September 2023 as the record date for the stock split in the ratio of 5:1.

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