Top 10 stocks for today – 1st September, 2023

1 Sep 2023 , 08:45 AM

Torrent Pharma & Cipla: Torrent Pharmaceuticals, based in Ahmedabad, has most likely launched a non-binding proposal to acquire the promoter interest in pharma giant Cipla. In the following weeks, Torrent Pharma may make a binding offer. According to the news reports, the corporation is also in discussions with three to four private equity firms and overseas institutions about funding options for the offer.

India Pesticides: The UP-based agrochemical company will purchase 11,461 square meters of property near its current Sandila factory to establish a pesticide manufacturing unit. It has acquired an allotment letter for the abovementioned land from the relevant competent authority, and the acquisition of this new site would aid the company’s capital expenditure plans for further expansion of the Sandila factory.

Sula Vineyards: Through open market transactions, HDFC Mutual Fund, Morgan Stanley Asia Singapore Pte, Societe Generale, and Ghisallo Master Fund LP purchased 59.58 lakh equity shares, or 7.06% of the country’s largest winemaker, at an average price of Rs 484 per share. The total value of the stake sale was Rs 288.4 crore.

JSW Steel, JSW Energy: JSW Group, an Indian steel-to-energy company, is in preliminary negotiations with Chinese manufacturer Leapmotor about licensing technology to build electric vehicles in India.

Gujarat Gas: Saudi Aramco has set the September propane contract price at $550/tn, which is higher than the current price of Rs $470/tn. This pricing will be applicable in India with a one-month lag beginning in October.

NHPC: The government has provided an extension to CMD Rajeev Kumar Vishnoi for an additional charge with effect from September 1 till a full-time appointment is announced.

Zydus: Zydus has bagged final USFDA approval for Isotretinoin Capsules, which are intended to treat severe acne.

Ashok Leyland: The company has inked a Memorandum of Understanding with CSB Bank, and the agreement will allow them to deliver tailored financial solutions to the automaker’s customers.

Genus Power Infrastructure: The subsidiary has been awarded a Rs 2,247.37 crore letter of award (LOA) for the hiring of advanced metering infrastructure service providers (AMISPs). The overall order book is currently worth roughly Rs 11,000 crore.

Five Star Business Finance: According to reports, PE investors Matrix Partners, TPG Asia, and Norwest Ventures are planning to sell up to 8.8% of their investment in Five Star Business Finance in block agreements. The probable floor price for block agreements is Rs 724 per share.

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