JKB Financial Services Ltd.

As on : 05-Sep-2023

Market Commentary - Stock Alert
05-Sep-2023 08:19

Hero MotoCorp, Avenue Supermarts, Tata Power, Vishnu Prakash Punglia in focus

Hero MotoCorp: The board of directors of the company has approved an investment of up to Rs 550 crore in the rights issue of Ather Energy Private Limited. Investment is being made in Series E2 Compulsory Convertible Preference Shares.

Avenue Supermarts: The company has opened a new store at Morbi, Gujarat. The total number of stores as on date stands at 333.

Tata Power Company: Subsidiary Tata Power Renewable Energy Limited (TPREL) has signed Power Delivery Agreement (PDA) with Neosym Industry Limited (Neosym), a leading Gray & S.G. Iron casting, manufacturing company in India, for 26 MW AC Group Captive Solar plant. The project, located at Jamkhed, Ahmednagar in Maharashtra with an anticipated electricity generation capacity of 59 million units annually will start from March 2024.

Cipla: Cipla South Africa, a 100% owned subsidiary of Cipla signed a binding term sheet with Actor Holdings (Pty) Limited to acquire 100% of the issued ordinary shares of Actor Pharma (Pty) Limited (?Actor?). This is a strategic acquisition for Cipla South Africa to unlock the future growth opportunities and leverage cost synergies in the South African market.

Vishnu Prakash R Punglia: Shares of infrastructure company Vishnu Prakash R Punglia will debut on the bourses today, 5 September 2023. The issue price is Rs 99 per share.

Escorts Kubota: Escorts Kubota - Agri Machinery Business Division, shall be increasing the prices of its tractors effective 16 September 2023 onwards. The increase in prices would vary across models/ variants and geographies.

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