Market Commentary - Stock Alert
TVS Motor, SAIL, Karnataka Bank, Cochin Shipyard in focus As on : 12-Jun-23  08:42

TVS Motor Company: The 2-wheeler maker said that its subsidiary, TVS Motor (Singapore) Pte, has agreed to acquire an additional 25% stake in Swiss E-Mobility Group (Holding) AG (SEMG), Switzerland by way of purchase of shares from the existing shareholders.

Steel Authority of India (SAIL): Life Insurance Corporation of India (LIC) informed that it increased its stake in SAIL to 8.687% from 6.686% earlier. LIC bought 8,26,59,782 shares, or 2.001% equity, at an average cost of Rs 66.18 via open market purchase during the period from 14 October 2021 to 8 June 2023.

Karnataka Bank: The private lender on Friday (9 June 2023) announced that Srikrishnan Hari Hara Sarma assumed the charge as managing director & chief executive officer (MD & CEO) of the bank.

Spandana Sphoorty Financial: Spandana Sphoorty Financial announced that its board approved the issuance of listed, senior, secured, rated, redeemable non-convertible debentures (NCDs) up to Rs 125 crore on a private placement basis.

Cochin Shipyard: The shipbuilding company on Friday (9 June 2023) announced that it has been declared as lowest bidder (L1) by the Indian Navy for an order amounting to Rs 300 crore.

Go Fashion (India): Venture capital firm Sequoia Capital will reportedly sell up to 10.18% stake which it holds in Go Fashion (India) via a block deal. The floor price for the stake sale will be Rs 1,135 per share, as per reports.

Zydus Lifesciences: Zydus Lifesciences announced that it has received final approval from the United States Food and Drug Administration (USFDA) for Balsalazide Disodium capsules. The drug is equivalent to reference listed drug, Colazal capsules. Balsalazide Disodium is used to treat bowel diseases like ulcerative colitis.

Avantel: The company has signed a contract worth of Rs.54.38 crore with Ministry of Defence, Coast Guard Headquarters, New Delhi.

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