Stock Alert: HG Infra, IRFC, RVNL, Schaeffler India, Dr Reddys Lab, Waaree Energies
In the SME segment, Yashhtej Industries (India) is scheduled to debut on the bourses today. The company?s IPO was subscribed 1.35 times. The issue price was fixed at Rs 110 per share.
Stocks to Watch:
HG Infra Engineering has been declared the lowest bidder (L1) by NHAI for a project worth Rs 1,582 crore. The project involves the construction of a six-lane, access-controlled Capital Region Ring Road (Package-III) from Gobindpur (NH-55) to Tangi near Bandola Toll Plaza (NH-16) in Odisha under the Hybrid Annuity Mode (HAM).
Indian Railway Finance Corporation (IRFC) said that the Government of India will sell up to 26.13 crore equity shares (2% stake) on 25?26 February, with an option to additionally sell up to 26.13 crore shares (2% stake) through the offer-for-sale (OFS) route on BSE and NSE. The floor price has been fixed at Rs 104 per share.
Rail Vikas Nigam (RVNL) has received a Letter of Acceptance (LoA) worth Rs 270.22 crore from Central Railway. The order pertains to the design, supply, erection, testing, and commissioning of a 220/132/55 kV traction substation and associated works for the Daund?Solapur section.
Waaree Energies announced that its subsidiary, Waaree Forever Energies, has received a Letter of Award from Solar Energy Corporation of India for the development of a 300 MW wind power project in Dwarka, Gujarat.
Hindalco Industries said that Novelis has entered into a subscription agreement with AV Minerals, its sole shareholder and a wholly owned subsidiary of the company. AV Minerals will purchase 13.33 lakh Novelis common shares for $200 million at a price of $150 per share.
Lupin has received approval from the US FDA for its Abbreviated New Drug Application (ANDA) for Brivaracetam Oral Solution 10 mg/mL. The product is bioequivalent to Briviact Oral Solution and is indicated for the treatment of partial-onset seizures. The reference-listed drug had estimated annual US sales of $135 million.
Hexaware Technologies has expanded its collaboration with Amazon Web Services (AWS) to deliver AI-enabled software development lifecycle (SDLC) capabilities, building on its Strategic Collaboration Agreement (SCA) with AWS.
Dr. Reddy?s Laboratories has received a letter from the US Securities and Exchange Commission (SEC) stating that it has concluded its investigation and does not intend to recommend enforcement action against the company at this time. The investigation related to allegations of improper payments to healthcare professionals in Ukraine and potential violations of US anti-corruption laws, including the Foreign Corrupt Practices Act (FCPA).
Power Grid Corporation of India said that the Cabinet Committee on Economic Affairs has increased the permissible equity investment limit per subsidiary to Rs 7,500 crore from Rs 5,000 crore, while retaining the cap at 15% of the company?s net worth.
5Paisa Capital said that its board has approved raising up to Rs 475 crore through a rights issue of equity shares.
Schaeffler India reported a net profit of Rs 322.3 crore for Q4, up 35.9% from Rs 237.2 crore in the same period last year. Revenue for the quarter increased 27.5% to Rs 2,724 crore from Rs 2,136 crore a year ago.
Biocon has received approval from the US Food and Drug Administration (FDA) for its drug-device combination, Liraglutide, indicated for weight management.
Federal Bank has launched revamped current account variants named ?Fed Prime? and ?Shreni CA Premium.?
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