Top stocks in focus: Hindalco, GAIL, Lupin, Tech Mahindra, Sobha

14 Mar 2022 , 07:45 AM

Hindalco Industries: ICICI Prudential Mutual Fund through its various schemes sold 11.81 lakh equity shares in the company via open market transactions on March 9. With this, its shareholding in the aluminium major stands at 3.01 percent, down from 3.07 percent earlier.

GAIL (India): The board has approved the payment of the second interim dividend of Rs 5 a share for the financial year FY21-22. The record date for eligibility of shareholders for payment of dividend has been fixed as March 22.

Lupin: The pharma major has received approval from the US FDA for the abbreviated new drug application Vigabatrin for oral solution USP. This drug is a generic equivalent of Sabril owned by Lundbeck Pharmaceuticals, LLC. Vigabatrin had estimated annual sales of $275 million in the US as per IQVIA MAT data of December 2021.

Tech Mahindra has approved the proposal to acquire 100% equity shares in Thirdware Solutions Limited

Sobha: Vice Chairman and Managing Director Jagdish Chandra Sharma has tendered his resignation with effect from April 1, 2022. Jubilant FoodWorks: Chief Executive Officer Pratik Rashmikant Pota resigned from the role and will continue till June 15, 2022.

Dhanvarsha Finvest: The board approved raising Rs88.65 crore by issuing equity shares and warrants to non-promoters on a preferential basis.

CESC: The firm said transactions for sale and transfer of 100 percent shareholding in Surya Vidyut to Torrent Power have been completed. The company and its six subsidiaries entered into a share-purchase agreement with Torrent Power for the sale of 156 MW power plants operated by Surya Vidyut in Gujarat, Rajasthan and Madhya Pradesh, in September 2021. Surya Vidyut was a wholly-owned subsidiary of CESC.

Anupam Rasayan India: The company acquired a 24.96 percent stake in the company via off-market transactions on March 11. The stake was acquired by Anupam at Rs 595 a share from sellers. With this, Anupam Rasayan has become a promoter of Tanfac along with Tamil Nadu Industrial Development Corporation (TIDCO). Anupam had entered into a share-purchase agreement with sellers–Birla Group Holdings, Pilani Investment & Industrial Corporation and Askaran Agarwala in February.

Jubilant FoodWorks: Pratik Rashmikant Pota has resigned as the CEO and whole-time director of the company.