Market Commentary - Stock Alert
Titagarh Rail, Grauer & Weil, Grasim Industries, Sula in spotlight As on : 22-Feb-24  08:50

Titagarh Rail Systems: The company has made an equity investment of Rs 100 crore in Shivaliks Mercantile, which is the joint venture special purpose vehicle (JV-SPV) of the company. Additionally, Shivaliks, the JV-SPV, has acquired a further 28.23% stake in the equity share capital of Titagarh Firema S.p.A, Italy (Firema), an associate company of TRSL, for a cash consideration of Euro 20.21 million (equivalent to Rs 180.33 crore) on 21 February 2024. This move aims to enhance capabilities and capacities for various products in India and globally.

Grauer & Weil (India): The company's board will meet on 26 February 2024 to consider issue of bonus shares to the shareholders of the company.

Sula Vineyards: The company announced that the Maharashtra government has approved the continuation of the Wine Industrial Promotion Scheme for a period of 8 years.

Grasim Industries: The chairman of the company Kumar Mangalam Birla will launch Birla Opus paints business and inaugurate three Birla Opus Paints plants at Panipat (Haryana), Ludhiana (Punjab) and Cheyyar (Tamil Nadu) on 22nd February 2024 from the Panipat plant.

Home First Finance Company India: The company has received approval from IRDAI for a Corporate Agent (Composite) license on 21 February 2024. This license permits the solicitation of life, general, and health insurance under the Insurance Regulatory and Development Authority of India (Registration of Corporate Agents) Regulations, 2015.

South Indian Bank: The lender announced Rs 1,151 crore rights issue. It will offer 52 crore shares at Rs 22 per share. The issue opens March 6 and closes on March 20 and the record date is set as Feb 27. The rights ratio set at 1 share for every 4 shares held

SG Mart: The company incorporated a unit in Dubai in the name of SG Mart FZE.

J. Kumar Infraprojects: Madan Biyani has resigned from the position of chief financial officer.

Apollo Micro Systems: The company has received sanction for a term loan of Rs 110 crore from State Bank of India for the implementation of its upcoming project in Hardware Park, Hyderabad.

Devyani International: Yum Restaurants has sold its entire 4.4% stake in Devyani International, which operates KFC and Pizza Hut, through an open market transaction on Wednesday.

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