Market Commentary - Stock Alert
Adani Ports, Bharti Airtel, Ultratech Cement, RVNL in spotlight As on : 26-Mar-24  08:52

Adani Ports and Special Economic Zone: The company has entered into a definitive agreement to acquire 95% stake of Gopalpur Ports Limited (GPL) from the existing shareholders [about 56% stake from SP Port Maintenance Private Limited (SP Group) and about 39% stake from Orissa Stevedores Limited (OSL)] of GPL. The equity consideration for 95% stake is Rs. 1,349 crore, with an enterprise value of Rs. 3,080 crore.

Bharti Airtel: Bharti Hexacom, a subsidiary of Bharti Airtel, is launching an initial public offering (IPO) to allow existing shareholder TCIL to sell a portion of its holdings. Telecommunications Consultants India (TCIL) will offload 15% stake through offer for sale.

Ultratech Cement: Ultratech Cement said that it has commissioned 1 million ton per annum (MTPA) brownfield cement capacity at Roorkee, Uttarakhand taking the unit?s capacity to 2.1 MTPA.

Mankind Pharma: Beige Ltd is reportedly going to sell up to 2.9% stake in Mankind Pharma via block deals. The offer price is in the range of Rs 2,103-2,214 per share, as per reports.

Dabur India: ICRA has reaffirmed its rating on the long-term debt instruments of the company at '[ICRA] AAA? with 'stable? outlook. ICRA stated that the reaffirmation of ratings factors in Dabur India's (Dabur) continued healthy operating and financial performance, as reflected in its healthy volume growth (across product categories), robust cash flows, strong balance sheet and superior liquidity position.

Rail Vikas Nigam (RVNL): RVNL announced that it has entered into a Memorandum of Understanding (MoU) with the Airports Authority of India (AAI) for the construction of a subway/underpass in Kolkata.

Zydus Lifesciences: The company announced that it has received tentative approval from the United States Food and Drug Administration (USFDA) to market Letermovir tablets. The drug had annual sales of $289.5 million in the United States.

Schaeffler India: Schaeffler India informed that its board has approved the re-appointment of Harsha Kadam, as the managing director (MD) and CEO of the company for a period of three years with effect from October 1, 2024.

Gandhar Oil Refinery (India): The company has announced that it has received a work order from Ajmer Vidyut Vitran Nigam (AVVNL) amounting Rs 17.41 crore.

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