11 March 2022 – Trading Activity & Stock Market Updates

Infosys

The IT major got a multi-year order from the International Tennis Hall of Fame.

Britannia Industries

Life Insurance Corporation acquired a 1.2 lakh share in the company through open market transactions on March 9. With this, its shareholding stands at 5.02 percent, up from 4.97 percent earlier.

Indraprastha Gas

The company has got authorisation for the development of the city gas distribution network in the geographical Area of Banda, Chitrakoot and Mahoba in the state of Uttar Pradesh.

MMTC

The company has executed the Share Purchase Agreement and Escrow Agreement for the sale of its entire equity holding in Neelachal Ispat Nigam to Tata Steel Long Products (TSLP). TSLP has been selected as a successful bidder through the two-stage auction procedure, run under the aegis of DIPAM, GOI.

Supreme Petrochem

The board has approved Phase II expansion of its expandable polystyrene (EPS) plant at Nagothane, Maharashtra by 30,000 MTA. Board also approved setting of the second line of extruded polystyrene board (XPS), and increasing the Masterbatch and Compounds capacity.

Aavas Financiers

UK’s development finance institution CDC Group invested Rs 360 crore in a Social Bond program by the company. The investment will be made in the form of rupee-denominated bonds (Masala Bonds) and will be listed as a social bond, in alignment with the International Capital Market Association’s Social Bond Principles. The proceeds of the bonds will be used to finance the women-owned property loan portfolio, with an aim to address gender inequity in asset ownership, in India.

Future Consumer

Future Consumer said it has agreed with Fonterra Co-operative Group to wind down 50:50 joint venture – Fonterra Future Dairy.

Shipping Corporation of India

Life Insurance Corporation of India sold a 2 percent equity stake in the company through open market transactions. With this, LIC’s shareholding in the company stands at 6.03 percent, down from 8.04 percent earlier.

Lupin

Lupin Diagnostics has launched its first Reference Laboratory in Kolkata. The laboratory capabilities to conduct tests in molecular diagnostics, cytogenetics, flow cytometry, histopathology, cytology, microbiology, serology, haematology, immunology and routine biochemistry.

Wipro

The technology company and Pandorum Technologies announced a long-term partnership where it combines the Artificial Intelligence capabilities of Wipro Holmes with Pandorum’s expertise in regenerative medicine.

Kirloskar Ferrous Industries and ISMT

The board has allotted 15.4 crore equity shares of ISMT at a price of Rs 30.95 per share, to Kirloskar Ferrous Industries (KFI) for Rs 476.63 crore. With this, KFI has acquired a controlling interest and holds a 51.25 percent stake in ISMT and is classified as the promoter with sole control of ISMT.

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