Top 10 stocks for today – 13th March 2024

13 Mar 2024 , 09:16 AM

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

ITC: According to sources, the British tobacco company’s India unit intends to sell up to 43.69 Crore ITC shares through quick book building at ₹384-400.25 each. At the low end of the price range, the share sale is offered at a 5% discount to Tuesday’s closing price. The block trade sale of ITC shares will cut the single-largest shareholder’s stake to around 25.5%, down from 29%. BAT has a 180-day lock-in period to sell further ITC shares.

Aurobindo Pharma: Eugia Pharma Specialities, a subsidiary, has resumed the distribution of aseptic goods made at Unit III after a temporary halt. Eugia also plans to restart commercial production from the facility’s aseptic lines in a gradual way beginning next week, with all lines resuming by April 15, 2024.

Vedanta: The Securities and Exchange Board of India (SEBI) has ordered Vedanta India, formerly known as Cairn India Ltd, to pay Cairn UK Holdings (CUHL) ₹77.62 Crore plus a simple interest rate of 18 percent per year for delayed dividend payments. The regulator also requested that the company’s chairman and managing director (CMD), Navin Agarwal, whole-time director Tarun Jain, whole-time director, and chief executive officer (CEO), Thomas Albanese, and whole-time director and chief financial officer (CFO), GR Arun Kumar, refrain from entering the securities market for two months.

KFin Technologies: Kotak Mahindra Bank sold 34.7 lakh equity shares (equal to 2.03% of total paid-up equity) in the technology-driven financial services platform for an average of ₹600.28 per share. Kotak Bank has a 9.8% interest in KFin as of December 2023.

Macrotech Developers: Promoter Sambhavnath Infrabuild and Farms sold 49,72,100 equity shares (equal to 0.5% of paid-up equity) in the real estate developer at an average price of ₹1,180.02 per share, totaling ₹586.72 Crore.

Glenmark Pharmaceuticals: Nirma, a detergent soap manufacturer, has finalized the acquisition of a 75% share in Glenmark Life Sciences. After selling 6,73,89,944 equity shares (equivalent to 55% of Glenmark Life Sciences’ paid-up equity share capital) to Nirma, Glenmark Pharma transferred the remaining 2,45,05,435 equity shares (equivalent to 20% of Glenmark Life Sciences’ paid-up equity) to Nirma, completing the transaction as per the share purchase agreement.

JG Chemicals: The largest zinc oxide maker plans to launch its equity shares on the BSE and NSE on March 13. The final offering price has been set at ₹221 per share. All investors will be able to trade equity shares in the standard market sector.

Indoco Remedies: The pharmaceutical firm said that its Committee of Executive Directors has authorised the purchase of 2,860.75 square metres of land parcel in Mahal Industrial Estate, Andheri, Mumbai Suburban, from an unconnected third-party seller, Saldanha Realty and Infrastructure LLP, for the company’s development ambitions. The corporation previously possessed the land via leasing rights.

Shalby: The healthcare services firm would pay ₹104 Crore to its current stockholders for a 100% interest in Healers Hospital (HHPL). The purchase, which is part of the company’s development and expansion objectives, will be finalised within 30 days. Following the purchase, HHPL will become a completely owned subsidiary of the firm.

Muthoot Capital Services: The EV-focused lending platform evfin, which is part of NBFC Greaves Finance and energy solutions firm Greaves Cotton, has announced a co-lending agreement with Muthoot Capital Services to expand the availability of electric two-wheeler finance options in India. The cooperation has a total transaction value of up to ₹150 Crore.

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