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Stocks in the news Sun Pharmaceutical Industries: The pharma major expects high-single-digit consolidated topline growth for FY24. The expansion of its global speciality business is expected to continue, while the research & development (R&D) spending is expected to be about 7-8 percent of sales in FY24 with an increasing share of spending in specialty R&D. Indiabulls Real Estate: Atul Chandra is appointed as Chief Operating Officer of the real estate firm, with effect from August 28. Presently, Chandra is the senior vice president of the company. NBCC India: The state-owned construction company has bagged a work order worth Rs 66.32 crore from the Indian Medical Association. The said work order included planning, designing and executing of IMA House at Indraprastha, New Delhi. The order is expected to be executed within 30 months. SJVN: Subsidiary SJVN Green Energy has received a Letter of Award from Assam Power Development Corporation (APDCL) for three solar power projects with a cumulative capacity of 320 MW. These three solar power projects will be developed on a build-own-and-operate (BOO) basis and are expected to generate a cumulative 628 MUs in the first year and the cumulative energy generation over a period of 25 years would be about 14,591 MUs. LTIMindtree: The technology consulting and digital solutions company has announced a strategic collaboration with SaaS company CAST AI which specialises in automated cost optimisation for customers who run their cloud-native applications on Google Cloud, AWS, and Microsoft Azure. Bayer CropScience: Duraiswami Narain has resigned as the Vice Chairman & Managing Director and Chief Executive Officer of the company with effect from October 31, 2023 due to his planned repatriation to Bayer US. The company appointed Simon Weibusch as the Vice Chairman, Managing Director and CEO with effect from November 1, 2023. Weibusch resigned as the Executive Director as the Whole-time Director of the company with effect from October 31, 2023. HFCL: The Fund Raising Committee of Directors of the company has decided to launch a qualified institutional placement (QIP) issue on August 28, for fundraising. The floor price for the issue has been fixed at Rs 68.61 per share.

Stocks in the news Reliance Industries: The stock will be in focus as the 46th annual general meeting (post the IPO of Jio Financial Services) of the Billionaire Mukesh Ambani-owned company will be held on August 28. Jio Financial Services: The removal of Jio Financial Services from Sensex and other BSE indices will be postponed by another three days as the stock hit the lower circuit on both August 24 and 25. Jio Financial will now be removed from all the S&P BSE Indices effective prior to the open of trading on September 1. Earlier Jio Financial was slated to be dropped from Nifty 50 and Sensex on August 24, which was deferred to August 29 as the stock kept hitting the lower circuit. Meanwhile, Motilal Oswal Mutual Fund picked 3.72 crore shares or 0.58 percent stake in Jio Financial, via open market transactions at an average price of Rs 202.8 per share. Bharat Electronics: The state-owned defence company has received new defence and non-defence orders worth Rs 3,289 crore during July and August 2023 (till date). With these orders, BEL has received orders of Rs 11,380 crore in current financial year. Garden Reach Shipbuilders & Engineers: The state-owned Kolkata-based warship builder has signed Memorandum of Understanding (MoU) with the DEMPO Group, the business house of Goa, to launch a collaboration model to build commercial vessels in three premier shipyards of DEMPO at Goa and Bhavnagar. Sasken Technologies: Divyanshu Kumar has been designated as Chief Commercial Officer of the company (senior management personnel) in place of Utpal Bakshi with effect from July 19. Earlier, Divyanshu Kumar was the Senior Vice President – Global Sales in the company. Linde India: The industrial gases company has received a Letter of Acceptance from Steel Authority of India (SAIL) for installation of 1,000 tonnes per day cryogenic oxygen plant on construct, operate and maintain (COM) basis for 20 years from the date of commissioning of the plant and ancillary facilities, at SAIL's Rourkela plant. HDFC Bank: Board members of the bank have approved the re-appointment of Sanmoy Chakrabarti as the Chief Risk Officer (CRO) of the bank, for a further five years. The reappointment will be effective from December 14, 2023 to December 13, 2028.

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