Top 10 stocks for today – 27th March 2024

27 Mar 2024 , 08:22 AM

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

Aster DM: According to sources, private equity company Olympus Capital Asia Investments plans to sell up to 9.8% of its equity holding in the private healthcare services provider in a block sale. The block sale is worth roughly $235 million, and the floor price has been set at ₹400 per share. As of December 2023, Olympus Capital Asia Investments has an 18.96% interest in Aster DM.

Central Depository Services (India): Standard Chartered Bank – Corporate Banking, a public stakeholder, is expected to sell its whole 7.18% stake (75 lakh equity shares) in CDSL in a block sale for $151 million, according to sources. The floor price for the block sale has been set at ₹1,672 per share, representing a 6.3% decrease from the previous closing of ₹1,785.

Mankind Pharma: Beige, an investment firm, sold 58,17,874 equity shares in the pharmaceutical company at an average price of ₹2,124.71 per share, and 58,17,873 shares at an average price of ₹2,120.31 through open market transactions. In sum, it sold a 2.9% ownership investment in the firm for ₹2,469.7 Crore, compared to its 2.99% holdings as of December 2023.

Cipla: Sanofi India and Sanofi Healthcare India have formed an exclusive agreement with Cipla to distribute and promote Sanofi India’s six central nervous system (CNS) medications in India, including Frisium, a top brand in the anti-epileptic pharmaceutical category. Meanwhile, Cipla has gained clearance from the US FDA to merge Cipla Technologies LLC and Cipla USA Inc, effective March 31, 2024. Both are completely owned step-down subsidiaries of Cipla in the United States.

Shyam Metalics and Energy: Shyam Metalics, in a joint venture with Natural Resources Energy (NREPL), has secured a Letter of Intent from the Government of Maharashtra’s Industry, Energy, Labour and Mining Department for a composite licence for an iron ore block spanning 1,526 hectares. Dorite Tracon, the promoter firm of Shyam Metalics, owns 49% of NREPL.

PTL Enterprises: The company received an income tax demand notice of ₹25.92 Crore from the Income Tax Department for the Assessment Year 2014-15, assessing the income under the head “Income from Other Source” against the claim filed by the company under the head “Income from Business and Profession”. The firm intends to submit an appeal/rectification of mistake in assessment order with higher authority.

Procter & Gamble Hygiene and Health Care: The firm has reached an advanced price agreement with the tax authorities, identifying the appropriate transfer pricing methodology for specific specified transactions with its affiliate(s) for the fiscal years 2011 to 2019. The agreement calls for an extra tax liability payment of ₹36 Crore (including interest) and a reduction in contingent liabilities of ₹87 Crore, subject to the parties withdrawing relevant tax litigations.

Titan Company: The business has completed the liquidation of its subsidiary TCL Watches Switzerland AG (formerly Favre Leuba AG). TCL Watches Switzerland AG ceased to be a wholly-owned subsidiary of the firm on March 21, 2024.

Adani Power: The Competition Commission of India (CCI) has authorised Adani Power’s 100% acquisition of Lanco Amarkantak Power. Lanco Amarkantak Power, a Lanco Group subsidiary that generates thermal power, is now undergoing a corporate insolvency resolution procedure (CIRP) under the Insolvency and Bankruptcy Code.

Wockhardt: The pharmaceutical business raised ₹480.04 Crore through qualified institutions placement, with the board approving the allocation of 92,85,163 equity shares to qualifying QIBs at an issue price of ₹517 per share.

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