Market Commentary - Stock Alert
Pidilite, Shriram Finance, Cyient, Satin Creditcare in spotlight As on : 21-Jun-23  08:28

Pidilite Industries: Pidilite Industries announced the launch of its manufacturing facilities under its two joint ventures, Pidilite Litokol Pvt Ltd (PLPL) and Tenax Pidilite Pvt Ltd (TPPL), in Amod, Gujarat. Litokol SPA Italy and Tenax SPA Italy have transferred technology to Pidilite as part of the Joint Venture.

Shriram Finance: Piramal Enterprises is reportedly likely to sell its entire 8.34% stake or 3.12 crore shares in Shriram Finance via block deals. The floor price is likely to be Rs 1,483 per share, as per reports.

Cyient: Cyient's subsidiary, Cyient DLM's initial public offering of equity shares will open for subscription on 27 June 2023 and shall close on 30 June 2023. The price band for the issue will be advertised at least two working days prior to the Issue opening date.

Satin Creditcare Network: The company's board of directors considered and approved the terms and conditions for issuance of Secured, Rated, Unlisted, Redeemable, Transferable, Non-Convertible Debentures denominated in Indian Rupees (INR), for an aggregate amount upto Rs 54 crore (Debentures) on a private placement basis.

Tamilnadu Petroproducts: The company had entered into an arrangement with Dalavaipuram Renewables Private Limited (DRPL) to procure upto 59.93 million kWh power per annum (Solar & Wind). Pursuant to this, the company agreed to invest upto Rs.13.88 crore, which constitute 2.73% of paid-up equity capital of DRPL, to meet the requirement of Captive power generation under Electricity Act, 2003.

Shilpa Medicare said that the meeting of the board of directors of the company is scheduled on 23 June 2023 to consider and approve proposal of fund raising by way of rights issue of equity shares.

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