Market Commentary - Stock Alert
HCL Tech, PNB, Genus Power Infras, Navneet Education in spotlight As on : 01-Sep-23  08:15

HCL Technologies: The company had completed the acquisition effective 31 August 2023 of 100% stake in ASAP Group, an automotive engineering services provider headquartered in Germany.

Punjab National Bank (PNB): The state-run bank has hiked Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across tenures with effect from 1 September 2023.

Five Star Business Finance: PE investors Matrix Partners, TPG Asia, and Norwest Ventures are reportedly likely to sell up to 8.8% stake in the company via block deals. The floor price for block deals is likely at Rs 724 per share, as per reports.

Genus Power Infrastructures: Genus Power Infrastructures Limited's step-down wholly owned subsidiary has received a letter of award (LOA) of Rs. 2,247.37 crore (net of taxes) for appointment of Advanced Metering Infrastructure Service Providers (AMISPs).

Navneet Education: The company announced that its board of directors has approved Composite Scheme of Arrangement for amalgamation of Genext Students Private Limited and demerging of Edtech business of Navneet Futuretech Limited into Navneet Education Limited.

India Pesticides: The agro-chemical company said that the acquisition of land measuring 11,461 Sq. Meters at D1, Sandila Phase 1, Hardoi, Uttar Pradesh and allotment letter has been received on 30 August 2023

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