Market Commentary - Stock Alert
RIL, Tata Steel, Sun Pharma, Bharat Electronics in focus As on : 27-Mar-23  08:49

Reliance Industries (RIL): RIL said on Friday that its board has designated Srikanth Venkatachari, joint chief financial officer, as chief financial officer (CFO) of the company with effect from 1 June 2023. The current CFO, Alok Agarwal, will assume a new role as senior advisor to the chairman and managing director of the company assisting him on a wide range of strategic issues with effect from 1 June 2023, after 30 years of service.

Tata Steel: Tata Steel announced on Friday that it acquired 4,65,116 equity shares of its wholly owned subsidiary, Tata Steel Utilities and Infrastructure Services (TSUISL), on rights basis amounting to Rs 10 crore. TSUISL allotted the shares to Tata Steel at Rs 215 each.

Sun Pharmaceutical Industries: Sun Pharmaceutical Industries said that it has entered into an agreement to acquire 60% shareholding in Vivaldis Health and Foods from its existing shareholders. The acquisition is being made for a cash consideration of Rs 143.30 crore. The company expects to complete the acquisition by the end of May 2023.

Bharat Electronics: Bharat Electronics announced that it has bagged orders worth Rs 4,300 crore from Indian Army and Indian Navy.

Shriram Finance: The NBFC announced that its banking and finance committee has approved issuance of $150 million senior secured floating rate notes due 2026 on private placement basis. The notes will be issued on 29 March 2023 and will be redeemed on 29 September 2029.

Indian Overseas Bank (IOB): IOB said that it has raised Rs 1,000 crore via issue of 1,000 unsecured, non-convertible, listed, redeemable, Basel-III compliant tier-II bonds through private placement basis.

Alembic Pharma: The drug maker announced on Friday that US Food and Drug Administration (USFDA) has conducted an inspection at its injectable and ophthalmic facility (F-3) located at Karkhadi in Gujarat.

Paisalo Digital: Paisalo Digital announced that its operations and finance committee of the board will meet on 29 March 2023 to consider and issue unlisted, unsecured non-convertible securities/commercial papers through private placement basis.

Godawari Power & Ispat: Godawari Power & Ispat announced that the sponge iron plant, power plants, steel melting shop (SMS plant), rolling mill and wire drawing plants at Siltara, Chhattisgarh have partially resumed its operations with effect from 24 March 2023.

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