Stock that will see action today: 22 January 2025
The Competition Commission on Tuesday cleared the proposed amalgamation of nine entities SRL, Viyash, Symed, Appcure, Vindhya Pharma, Vandana, Vindhya Organics, Geninn and SV Labs with Sequent Scientific Ltd. The company offers active pharmaceutical ingredients (APIs), finished dosage formulations, and analytical services for the animal health sector. Sequent Research Ltd (SRL), a wholly-owned subsidiary of SSL, is a contract research organisation.
NDR InvIT Trust on Tuesday announced it has acquired a Grade-A industrial and warehousing portfolio for Rs 706.1 crore. Spread across Surat, Hyderabad, Bengaluru, and Pune, the strategic acquisition adds 2.01 million square feet (MSF) of fully operational, high-quality assets to NDR InvIT’s growing portfolio it said. The deal is expected to deliver robust returns and includes properties with 100 per cent occupancy, marquee tenants, and a weighted average lease expiry (WALE) of 15.4 years, NDR InvIT said.
JK Tyre & Industries has received a $100 million sustainability-linked loan from the International Finance Corporation (IFC). The funding includes USD 30 million for JK Tyre and up to USD 70 million for Cavendish Industries Ltd (CIL), a subsidiary of the company, the tyre maker said in a statement. The funding will support the company’s expansion of passenger car radial (PCR) tyre capacity at the Banmore plant in Madhya Pradesh, it added
Intellect Design Arena’s Insurtech business unit, IntellectAI, offering AI and data-powered underwriting solutions, announced that US based R.E. Chaix has signed on as the latest client for IntellectAI’s end-to-end wholesale underwriting and distribution ecosystem, with its set of MGAs. IntellectAI’s wholesale and distribution ecosystem is a highly configurable, feature-rich AI-powered underwriting technology.
Tata Power Delhi Distribution on Tuesday announced its partnership with Tata Power EV Charging Solutions Ltd for developing public electric vehicle charging infrastructure at Delhi Municipal Corporation sites. The tie up aims to promote the adoption of electric vehicles in Delhi, aligning with Tata Power-DDL’s vision of a ‘Green Tomorrow’ and supporting India’s goal of achieving net zero emissions by 2070, according to a statement.
Wendt (India) informed the exchanges that it is in receipt of an intimation from the Promoters i.e., Carborundum Universal Limited (CUMI) and Wendt GmbH, regarding the execution of the agreement to facilitate a potential divestiture by Wendt GmbH of up to its entire ownership of 37.5 per cent stake in the Company through one or more transactions in the secondary market. Further, the company has entered into a Trademark Assignment Agreement with Wendt GmbH to acquire the absolute ownership of the ‘Wendt’ brand and trademarks, with over 60 registrations in 40 countries, owned by Wendt GmbH, for 3.8 million euros
Results calendar: HDFC Bank, HUL, Pidilite Inds, BPCL, Polycab, Persistent Systems, Coforge, Pidilite Industries, Tata Communications, HUDCO, Kaynes Technology, Go Digit, Zensar Technologies, Gravita India, Vaedhaman Textiles, Elecon Engg, Nuvoco Vistas Corp, Tips Music, Rattan India Power, Laxmi Organic Industries, NIIT Learning, Cigniti Technologies, Heritage Foods, Accelya Solutions, 20 Microns and Ujaas Energy
