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Top 10 stocks for today – 13th June, 2024

13 Jun 2024 , 08:59 AM

Here are some of the stocks that may see significant price movement today.

L&T Finance: Bain Capital’s affiliates, BC Asia Investment VI and BC Asia Growth Investment, plan to sell their 3.54% holding in L&T Finance Holdings for a floor price of ₹169.17 per share. This represents roughly 88.2 million shares and is part of a clean-up transaction.

Nestle India: After shareholders rejected its request to increase royalties, the FMCG major announced that it will continue to pay them at the current rate of 4.5% of net sales. The company said that the board of directors approved the continuation of general license payments at the current rate of 4.5% to Société des Produits Nestlé S.A. (licensor).

Sobha: The real estate developer plans to raise ₹2,000 crore through a rights offering of shares. The corporation plans to issue 1.21 crore rights equity shares on a partially paid basis. Assuming complete subscription and payment of call amounts, the corporation might earn ₹2,000 crore.

Whirlpool: The washing machine manufacturer and Hindustan Unilever has announced a new marketing alliance for Surf Excel, the major FMCG company’s laundry brand. According to the alliance, both businesses will engage in joint marketing campaigns.

Torrent Pharma: According to the company, the USFDA conducted a pre-approval and GMP inspection at its Indrad facility from June 3 to June 12, 2024. Following the inspection, the company was issued a form 483 with five observations. The company stated that no observations are connected to data integrity.

Dr Reddy’s Laboratories: Dr Reddy’s USA, a wholly-owned subsidiary of the drug company, and Ingenus Pharma have signed into a license agreement under which Dr Reddy’s USA has obtained exclusive rights to commercialise Cyclophosphamide Injection RTD from Ingenus.

Saksoft: The company announced that it will acquire 100% ownership of Augmento Labs in a strategic effort to strengthen its expertise and footprint in the product engineering area. The acquisition cost is ₹100 crore, with an upfront cash consideration of ₹35 crore and the remaining amount as an earnout based on performance over two years.

PTC India Financial Services: The SEBI fined Pawan Singh ₹25 lakh and restricted him from holding a board position in a listed business for two years. Pawan Singh was the company’s former managing director and CEO. SEBI fined Rajib Kumar Mishra ₹10 lakh and restricted him from holding a Director position in a listed firm for six months.

Exide Industries: The business invested an additional ₹75 crore in its wholly-owned subsidiary Exide Energy Solutions through a rights-based subscription to its equity share capital. This brings the company’s total investment in EESL to ₹2,452.24 crore.

Paytm: IRDAI has approved the withdrawal of the application to register its associate firm as a ‘general insurance company’. Paytm will shift its focus from insurance manufacturing to insurance distribution.

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