Here are some of the stocks that may see significant price movement today.
Polycab India: Reports state that company’s promoter entities are planning to pare 0.81% stake in a block deal worth ₹887.60 Crore. The transaction will be carried at a floor price of ₹7,300 per share. This is a discount of 3.09% to the last traded price of the company.
Tata Steel: The company announced that it has invested ₹4,054.66 Crore in its overseas unit T Steel Holdings Pte. Ltd. (TSHP). Tata Steel will acquire 457.70 Crore shares. TSHP will still be a wholly-owned subsidiary.
Dalmia Bharat: The company confirmed that ED has provisionally attached land worth ₹377.26 Crore under PMLA. It stated this will not affect its operations and is planning to explore legal remedies.
Glenmark Pharma: The pharma major’s unit has entered into an exclusive licensing pact with Hengrui Pharma for Trastuzumab Rezetecan. It is a next-gen HER2-targeting ADC. The pharma business will make an upfront payment of $18 Million, with milestone payments up to $1.093 billion and royalties on sales.
Birla Corp: The company announced that its unit RCCPL has been announced as the preferred bidder for the Kanpa-Junapani limestone block in Telangana with an 87.05% revenue-sharing offer. This means that the government will share 87.05% of the total revenue from this block. The block spans across 3.38 sq km in Adilabad district.
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