Market Commentary - Stock Alert
Tata Motors, L&T, Sun Pharma, Tech Mahindra in focus As on : 19-Dec-22  08:31

Tata Motors: The auto major said that its fully owned subsidiary, TML Smart City Mobility Solutions has signed a definitive agreement with Bengaluru Metropolitan Transport Corporation (BMTC) for operating 921 electric buses in the city of Bengaluru.

L&T: L&T signed an agreement to sell its entire 51% stake in L&T IDPL, along with its subsidiaries, to Epic Concesiones. Post transaction, L&T IDPL will cease to be subsidiary of L&T. L&T Infrastructure Development Projects Limited (L&T IDPL) is a joint venture between Larsen & Toubro (L&T) and Canada Pension Plan Investment Board (CPP Investments), holding 51% and 49% shares respectively.

Sun Pharmaceutical Industries: Sun Pharmaceutical Industries said its Halol, Gujarat facility has received warning letter from the USFDA regarding the inspection conducted from 26 April 2022 to 9 May 2022.

Tech Mahindra: Tech Mahindra has approved sale of 100% stake in Dynacommerce Holdings B.V., a wholly owned subsidiary of the company to Comviva Netherlands B.V., a step-down subsidiary of the company.

Adani Enterprises: Adani Enterprises announced that its joint venture, AdaniConnex, with EdgeConnex has incorporated a wholly owned subsidiary (WOS), DC Development Noida Two (DCDNTL). It will undertake business to develop, operate, maintain, deal with data centers, Information Technology (IT) / Information Technology Enabled Services (ITES) / cloud, providing services related thereto.

Dilip Buildcon: The civil construction company said that it has received letter of acceptance (LoA) from the National Highways Authority of lndia (NHAI) for new hybrid annuity model (HAM) projects in the state of Karnataka, Chhattisgarh and Telangana.

RITES: RITES said that it has signed an MoU with Kirloskar Oil Engines to jointly explore business opportunities for supplies/services in the areas of export of railway rolling stock, infrastructure and urban transport for domestic and overseas markets.

Mahindra CIE Automotive: Mahindra CIE Automotive has further subscribed 2,40,000 equity shares of Rs 10 each of Sunbarn which will constitute 26.12% of the post-issue paid-up capital of Sunbarn Renewables.

Shilpa Medicare: Shilpa Medicare announced that it has introduced Capecitabine (Capebel) dispersible tablet (DT) with technology of faster dispersion within 90 seconds to treat colorectal and metastatic breast cancer.

Five-Star Business Finance: Five-Star Business Finance said that India Ratings and Research has assigned 'IND AA-/Stable' rating on the debt instruments of the company worth Rs 2,000 crore.

Keystone Realtors: Keystone Realtors said that it has executed joint development agreement with Raj Doshi Exports to develop a parcel of land admeasuring about 6,067.96 square meters situated at Mahim, Mumbai, Maharashtra.

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