Market Commentary - Stock Alert
SBI, Biocon, IRCTC, Uno Minda to be watched As on : 14-Dec-23  09:00

State Bank of India (SBI): SBI will be signing EURO 70 million Line of Credit with KfW (German Development Bank) for supporting Solar PV projects in India on 14 December 2023 at Bank?s IFSC Gift City Branch, Ahmedabad.

Biocon: Bicara Therapeutics Inc. (Bicara), an associate company of Biocon, has completed its US$165 Million Series C funding. Consequent to this infusion of Series C funding and post allotment of shares by Bicara, the company''s shareholding in Bicara on fully diluted basis will fall below 20% and thereby, Bicara will cease to be an associate company of Biocon.

IRCTC: IRCTC is eyeing expansion in the areas of business beyond Railways for promoting its brand and business across the nation. IRCTC has already signed MoUs with various government and autonomous bodies.

Fusion Micro Finance: The block deal has been launched to facilitate the sale of a 9.25 percent stake in Fusion Micro Finance held by Honey Rose Investment, an arm of global private equity firm Warburg Pincus, as per reports. The deal size is valued at Rs 500 crore, with the floor price set at Rs 535 per share, as per reports.

Uno Minda: The company has commissioned its new automotive seating systems plant under its subsidiary Uno Minda TACHI-S Seating Private Limited (UMTS) in Bhagapura, Ahmedabad, Gujarat. The plant will manufacture mechanical parts for automotive seats for passenger cars. UMTS has already received orders from OEM and is expected to start supplies by Q4FY24.

I G Petrochemicals: IGPL Energy Limited is incorporated as a wholly owned subsidiary of the company on 30 November 2023 with Jebel Ali Free Zone, Dubai.

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