Developerinvention

PNB is PNB housing finance. Not punjab national bank

PNB, Zeel given 100% signal..

Ai based on prediction for three days

IMPORTANT DATA • Vedanta: Taiwan's Foxconn said that it is pulling out of a joint venture with billionaire Anil Agarwal-led Vedanta that was set up to produce semiconductors from India. Foxconn further said it was working to remove the Foxconn name from what now is a fully-owned entity of Vedanta. It has no connection to the entity and efforts to keep its original name would cause confusion for future stakeholders, the electronic major added. Meanwhile, Vedanta said it was fully committed to its semiconductor fab project and has lined up other partners to set up India’s first foundry, reports CNBC-TV18. • State Bank of India: The country's largest lender has proposed to participate in an initial public offering (IPO) of National Securities Depositories (NSDL) through an offer-for-sale of up to 2% equity stake or 40 lakh shares in NSDL. The bank holds 5% stake in NSDL. • APL Apollo Tubes: The State Investment Promotion Board (SIPB) of Chhattisgarh government has granted incentives of Rs 500 crore to company's subsidiary APL Apollo Building Products. The incentives are granted for setting up manufacturing facility at Baloda Bazar, Chhattisgarh. • Tata Communications: Subsidiary Tata Communications International Pte Ltd (TCIPL) has entered into a share purchase agreement to acquire remaining equity ownership of Oasis Smart Sim Europe SAS (OSSE France). As a result, TCIPL will increase its equity shareholding in OSSE France from its current stake of 58.1% to 100%. • Sanghvi Movers: The crane rental company has received work orders worth Rs 150 crore from Independent Power Producers (IPP) in the renewable energy sector. The company will provide crane rental services along with allied services. Crane services account for approximately 50% of the total contract value. These contracts are of 18 months duration. • Nazara Technologies: The gaming and sports media platform has received approval from its board of directors for raising up to Rs 750 crore from equity shares through one or more qualified institutional placements or preferential allotment. • Satin Creditcare Network: The microfinance company has received board approval for fund raising up to Rs 5,000 crore via non-convertible debentures, on a private placement basis, in one or more tranches, within one year from the date of shareholders’ approval. The board also approved an appointment of Vikas Gupta as Chief Compliance Officer with effect from July 11. • PCBL: The RP-Sanjiv Goenka Group company has commissioned the first phase of its specialty chemicals capacity expansion at Mundra in Gujarat. The newly commissioned phase added a capacity of 20,000 metric tons per annum (MTPA). Upon completion, PCBL will have a specialty chemicals production capacity of 40,000 MTPA at its Mundra plant. • Motherson Sumi Wiring India: The joint venture company of Samvardhana Motherson International and Sumitomo Wiring Systems has received approval from its board of directors for appointment of Mahender Chhabra as Chief Financial Officer. Chhabra's appointment as CFO is with effect from July 10. • Vadilal Industries: Home-grown ice cream brand Vadilal has received buyout interest from a private equity firm Bain Capital, sources with direct knowledge of the matter said. Bain Capital is eyeing a controlling stake in the combined entity of Vadilal Industries, Vadilal Enterprises and Vadilal brand. The deal talks value the ice cream maker at over Rs 3,000 crore. However, Vadilal Group clarified saying there is no information which has not been informed to stock exchanges. • Tega Industries: The mining & material handling equipment maker has appointed Sharad Kumar Khaitan as Chief Financial Officer with effect from July 10. • CarTrade Tech: The multi-channel auto platform has entered into a share purchase agreement with Sobek Auto India and its holding company OLX India B V for acquisition of 100% stake of Sobek Auto India from OLX India B V. The acquisition cost is Rs 537.43 crore. • McLeod Russel: The tea producer said the board of directors has approved the execution of an

IMPORTANT DATA • Reliance Industries: Reliance Industries said the board of directors of Reliance Retail has approved reduction of the equity share capital to the extent held by shareholders other than its promoter and holding company Reliance Retail Ventures. A consideration of Rs 1,362 per share, determined on the basis of valuation obtained from two reputed independent registered valuers, will be paid towards the capital reduction. RIL has fixed July 20 as the record date for the purpose of determining the equity shareholders who are entitled to receive shares of Reliance Strategic Investments (RSIL). Under the scheme of arrangement, Reliance Strategic Investments will allot one fully paid-up equity share of RSIL of face value of Rs 10 each, for every one share of Reliance Industries as on the record date. Reliance Strategic Investments will then be renamed as Jio Financial Services (JFSL). • HDFC Bank: MSCI has added HDFC Bank to its Global Standard Indexes, after the merger of HDFC. Accordingly, HDFC (Housing Development Finance Corporation) is deleted from the said indexes. The changes in MSCI Global Standard Indexes will be effective from July 13. • Tata Motors: The company has announced group global wholesales, including Jaguar Land Rover, for April-June quarter of FY24, at 3.22,159 vehicles, a 5% growth over Q1FY23. Global wholesales of commercial vehicles and Tata Daewoo fell by 15% YoY to 88,456 vehicles, but global wholesales of passenger vehicles increased by 8% to 1.4 lakh units in the same period. Global wholesales for Jaguar Land Rover were at 93,253 vehicles including Jaguar wholesales for the quarter at 10,324 vehicles and Land Rover at 82,929 vehicles. • Cyient DLM: The electronics manufacturing services and solutions company will be listing on the bourses on July 10. The final issue price has been fixed at Rs 265 per share. • Zydus Life Sciences: The US Food and Drug Administration has closed the pre-approval inspection (PAI) with nil observations for Zydus group’s manufacturing facility at SEZ-2, Ahmedabad. The USFDA has conducted inspection of the said facility during July 2-7. • Indian Oil Corporation: The state-owned oil marketing company has received board approval for capital raising up to Rs 22,000 crore via rights issue. The board also approved a joint venture company for battery swapping business in India as a private limited company. IOC will form a 50:50 collaboration with Sun Mobility Pte Ltd Singapore (SMS) and its equity investment for the battery swapping business will be Rs 1,800 crore till FY27. The board also approved investment of $78.31 million in IOC subsidiary 10CL Singapore Pte Ltd, Singapore for acquisition of preference shares and warrants of SMS. • Vedanta: The natural resources and technology conglomerate has added semiconductors and display glass manufacturing ventures to its diversified portfolio. It has received approval from its board of directors for the acquisition of 100% in Vedanta Foxconn Semiconductors (VFSPL) and Vedanta Displays (VDL) via share transfer at face value. VFSPL and VDL are wholly owned subsidiaries of Twin Star Technologies (TSTL), and TSTL is a wholly owned subsidiary of Volcan Investments, the ultimate holding company of Vedanta. • ITC: The cigarette-to-hotels-FMCG major issued clarification on media reports related to demerger of hotel business, saying it remains committed to implement its ‘asset-right’ strategy with respect to the hotels business. • Aurobindo Pharma: Subsidiary CuraTeQ Biologics has entered into an exclusive license agreement with BioFactura Inc, USA to commercialize BFI-751, a proposed biosimilar to Stelara (Ustekinumab). Ustekinumab is a recombinant monoclonal antibody which is used for treating Crohn's disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis. BioFactura will receive license fees of approximately $33.5 million. The global sales reported for Stelara (Ustekinumab) is around $9.72 billion for the year 2022. • Hindustan Aeronautics: The Ministry of Defence has signed a contract with Hindusta

IMPORTANT DATA • Reliance Industries: The National Company Law Tribunal, Mumbai has sanctioned the scheme of arrangement between Reliance Industries and Reliance Strategic Investments. The company and Reliance Strategic Investments will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments. (Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.) • Ideaforge Technology: The leading drone manufacturing company will make debut on the bourses on July 7. The issue price has been fixed at Rs 672 per share. • Sobha: The south-based real estate developer has recorded a 27.9% year-on-year growth in total sales at Rs 1,465 crore for quarter ended June FY24, which is the highest ever quarterly sales value, while sales volume increased by 2.6% YoY to 1.39 million square feet. Price realisation for the quarter surged 24.6% to Rs 10,506 per square feet compared to same period last year. The company has completed construction of 0.97 million square feet of saleable area (624 homes). • Titan Company: The jewellery-to-watch maker has registered a 20% year-on-year growth in revenue for June FY24 quarter, with all key consumer businesses exhibiting double-digit growth in the quarter. A total of 68 stores were added (including CaratLane) during the quarter taking Titan's retail presence to 2,778 stores. The jewellery division grew 21 percent YoY, with 18 new store additions, while watches & wearables segment registered a 13% growth and eyecare division sales increased by 10% YoY, while fragrances & fashion accessories segment grew 11% YoY, driven by 9% growth in fragrances and 13% growth in fashion accessories. CaratLane reported a 32% YoY growth driven with healthy contributions from multiple avenues. • Dabur India: The FMCG major's consolidated business including recently acquired Badshah Masala, is expected to register growth exceeding 10 percent for the quarter YoY. The international business is expected to report a strong performance with double-digit growth in constant currency as softening of inflation in international markets is having a positive impact on the business. India business is expected to post growth in high single digit. • JK Cement: Subsidiary JK Maxx Paints has acquired 20% stake, as a second tranche, in Acro Paints for Rs 60.24 crore. Consequently, JK Maxx Paints has acquired total 80% stake in Acro Paints, the paint & construction chemicals manufacturer, with immediate effect. • NTPC: The country's largest power generation company said the unit-2 of 660 MW capacity of Stage-I (3 x 660 MW) of Barh super thermal power project in Bihar, has successfully completed trial operation. Consequently, the 660 MW included in the installed capacity of NTPC. With this, installed capacity of NTPC group has become 73,024 MW. • Indian Oil Corporation and Praj Industries: Both companies signed a term sheet to advance plans to strengthen biofuels production capacities in India. Various biofuels covered under this MoU include sustainable aviation fuel (SAF), ethanol, compressed bio-gas, biodiesel and bio-bitumen among others. In October 2021, both the companies had entered into an agreement to form a 50:50 joint venture. • UFO Moviez India: Digital cinema companies UFO Moviez India and Qube Cinema Technologies announced their intention to forge a transformative strategic alliance, proposing two 50:50 joint ventures for advertising and content services. One joint venture will be focused on the commercial monetization and marketing of the combined cinema advertising inventory in India, while the other JV will oversee feature film mastering, localization and content delivery within India and Nepal. • Capacite Infraprojects: The construction engineering company has raised Rs 96.3 crore as its board members approved an allotment of 56.65 lakh equity shares at an issue price of Rs 170 per share on preferential basis to 17 non-promoters

IMPORTANT DATA • State Bank of India: The country's largest lender has received approval from its Executive Committee of the Central Board (ECCB) for acquiring the entire stake held by SBICAPS in SBICAP Ventures, subject to receipt of all regulatory approvals. SBICAPS is a wholly owned subsidiary of SBI. The estimated cost of capital for the said acquisition will be Rs 708.07 crore. • LTIMindtree: The Index Maintenance Sub-Committee (Equity) of NSE Indices has decided to exclude HDFC and include LTIMindtree in Nifty50 with effect from July 13. Jindal Steel & Power is going to replace HDFC in Nifty 100 index and LTIMindtree in Nifty Next 50 index, while Mankind Pharma will replace HDFC in Nifty 500 index and Jindal Steel & Power in Nifty Midcap 150 index. LIC Housing Finance will replace HDFC in Nifty Financial Services index. • Indian Oil Corporation: The oil marketing company said its the meeting of its board of directors will be held on July 7 to consider raising of capital through right issue of equity shares. • Aurobindo Pharma: Aurobindo Pharma will be in focus as its subsidiary CuraTeQ Biologics announced positive result in phase 3 clinical trial for its proposed Trastuzumab biosimilar product. Trastuzumab is a breast cancer biosimilar product, BP02. • Lupin: The pharma company has received tentative approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application (ANDA), Dolutegravir tablets for oral suspension. The company will market a generic equivalent of Tivicay PD tablets for oral suspension, which are available in 5 mg strength, of ViiV Healthcare Company, in the United States. • Bandhan Bank: The private sector lender said its loans & advances in quarter ended June FY24 grew by 6.7% YoY to Rs 1.03 lakh crore, but fell by 5.5% QoQ. Total deposits increased by 0.4% QoQ and 16.6% YoY to Rs 1.08 lakh crore. Retail deposits at Rs 77,239 crore rose by 5.9% YoY and bulk deposits increased by 55.4% YoY to Rs 31,240 crore. Sunil Samdani has resigned as Chief Financial Officer (CFO) of the bank to explore professional opportunities outside the bank. His last working day as the CFO would be September 30, 2023. • Bharat Heavy Electricals: BHEL has extended its gas turbines technology agreement with General Electric Technology GmbH Switzerland. BHEL in partnership with GE is the market leader for gas turbines in India. With BHEL-GE partnership in place since 1986, BHEL has been manufacturing and supplying GE designed gas turbines in domestic as well as overseas market. • Lemon Tree Hotels: The company has signed a License Agreement for a 48-room property in Udaipur, Rajasthan under its brand Keys Select by Lemon Tree Hotels. The hotel is expected to be operational by Q4 FY2024. Its subsidiary Carnation Hotels will be operating this hotel. • AU Small Finance Bank: The small finance bank has announced a 27% year-on-year growth total deposits at Rs 69,315 crore for quarter ended June FY24. Gross advances grew by 29% to Rs 63,635 crore in same period, while CASA deposits rose by 14% to Rs 24,286 crore. • Macrotech Developers Q1 pre-sales grows 17% YoY to Rs 3,350 crore Macrotech Developers: The real estate developer has recorded pre-sales at Rs 3,350 crore for quarter ended June FY24, growing 17% over a year-ago period, but fell 11% sequentially. Collections in Q1 dropped 8% YoY and 18% QoQ to Rs 2,400 crore, impacted by seasonal factors (summer vacations and monsoon). • RBL Bank: The private sector lender said its total deposits in Q1FY24 grew by 8% year-on-year to Rs 85,638 crore and gross advances increased by 20% to Rs 74,792 crore. Retail advances grew 32% YoY while wholesale advances rose 8% YoY for the quarter. • Suzlon Energy: The wind & solar energy solutions provider said its board of directors will meet on July 7 to consider capital raising via one or more or combination of permissible methods and seek approval of the shareholders, if required. • Som Distilleries & Breweries: The board members of the company will meet on July 8 to conside

IMPORTANT DATA • HMA Agro Industries: The company will debut on the BSE and NSE on July 4 after closing the public issue on June 23 with 1.62 times subscription. The final issue price has been fixed at Rs 585 per share. • Lupin: The pharma company has received approval from the United States Food and Drug Administration (US FDA) for its abbreviated new drug application for Cyanocobalamin nasal spray. Cyanocobalamin is a generic equivalent of Nascobal nasal spray, which is available in the strength of 500 mcg per spray, of Par Pharmaceutical Inc. This product will be manufactured at Lupin’s Somerset facility in the US. Cyanocobalamin nasal spray had estimated annual sales of $69 million in the US, as per IQVIA MAT Mar 2023. • Chalet Hotels: The hotel chain operator has received approval from the board of directors for raising of funds up to Rs 500 crore from non-convertible debentures or any other debt instrument, in one or more tranches, for refinancing high cost debt. The board also approved fund raising up to Rs 100 crore through borrowing from promoters for meeting expenses for the residential project in Bengaluru. • Genus Power Infrastructures: The electricity metering solutions provider has received a letter of award (LOA) of Rs 2,207.53 crore for appointment of advanced metering infrastructure service provider (AMISP) including design of AMI system with supply, installation and commissioning of 27.69 lakh smart prepaid meters, feeder meter, DT meter level energy accounting and FMS of these 27.69 Lakhs smart meters. The company foresees a strong influx of orders in the upcoming quarters of FY24. • Oil India: The state-owned oil and gas exploration company said its board of directors has approved the revision of project capital cost from Rs 6,555 crore to Rs 7,231 crore for implementation of petrochemical project of Numaligarh refinery. • Bajaj Finance: The new loans booked during Q1 FY24 grew by 34% to 9.94 million compared to 7.42 million in Q1FY23. Deposits book stood at approximately Rs 49,900 crore as of June 2023, increasing 46% over Rs 34,102 crore as of June 2022. Assets under management increased by 32% to Rs 2.7 lakh crore in Q1FY24 against same period last year. Consolidated net liquidity surplus stood at Rs 12,700 crore as of June 2023. • Avenue Supermarts: The hypermarkets chain D-Marts operator has clocked a 18.1% year-on-year growth in standalone revenue at Rs 11,584.44 crore for the quarter ended June FY24, up from Rs 9,806.9 crore in same period last year. The total number of stores as of June 2023 stood at 327. • Vedanta: The cast metal aluminium production increased by 2% YoY and 1% QoQ to 579kt (kilo tonnes) due to efficiency in the operations. Highest-ever mined metal production in Q1FY24 at 257kt rose by 2% YoY due to higher ore production, primarily at Rampura Agucha and Kayad mines, supported by improved mined metal grades and better mill recovery. Overall power sales grew by 19% to 4,266 million units in quarter ended June FY24. • IDFC First Bank: The bank said the board members have approved the amalgamation of IDFC with the bank. The share exchange ratio for the amalgamation will be 155 equity shares of IDFC First Bank for every 100 equity shares of IDFC. As a result of the proposed merger, the standalone book value per share of the bank would increase by 4.9% as per financials FY23. • Anupam Rasayan: The custom synthesis & speciality chemicals manufacturer has signed Memorandum of Understanding (MoU) with 3xper Innoventure, a subsidiary of Tube Investments of India, for supply of targeted and identified new age pharma molecules. The identified products for active pharmaceutical ingredients (API) will be developed under the CRAMS and CDMO models. • V-Mart Retail: The hypermarket chain operator has recorded a 16% year-on-year growth in revenue from operations at Rs 678 crore for quarter ended June FY24 including income from LimeRoad. The income from LimeRoad digital marketplace of Rs 17 crore represents the commission income charged from sellers on the net merchandising value