Stocks in News;
PCBL: has approved sub division of equity share of the company having a face value of Rs. 2 each into one equity share of face value of Re. 1 each and alteration of authorized share capital clause in the Memorandum of Association and Articles of Association of the company
Gulf Oil Lubricants: has approved the proposal to buyback upto 14,16,667 equity shares at a price of Rs 600 per share. Aggregate amount of buyback shall not exceed Rs. 85,00,00,200 and represents 9.8% of the paid-up equity share capital and free reserves.
FDC: has approved buyback of 29,00,000 fully paid up equity shares representing 1.72% of the total paid up equity at a price of Rs. 475 per share
Tata Steel Long Products: accepted the Letter of Award for acquisition of Neelachal Ispat Nigam. It will acquire acquire 93.71% equity stake in Neelachal Ispat Nigam and the acquisition process is likely to be completed within the next couple of months
GTPL Hathway: has entered into Share Transfer Agreement for disposing its entire 50% stake (5000 equity shares) of GTPL Riddhi, a joint venture company and has received a consideration of Rs 50,000.
NHPC: has signed a letter of intent with Rajasthan Renewable Energy Corporation for development of 10,000 MW Renewable Energy Projects/ Parks in Rajasthan
Dr. Reddy’s: announced the launch of its authorized generic version of Par Pharmaceutical’s VASOSTRICT (vasopressin injection, USP) vials in the U.S. market approved by the U.S. Food and Drug Administration.
Lupin In distribution pact with Medis for orphan drug Namuscla Medis to commercialise Namuscla for treating myotonia
Nuvoco Vistas: will augment cement volumes availability by 2.4 MTPA through key project including upgrading Bhiwani Blending Unit to a Grinding Unit. The company will set up alternate fuel material handling facilities at Risda and Nimbol Cement plants with capex of Rs 50 crore
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