Buzzing stocks.Stocks that will see action today: May 17, 2024

Two top executives of PB Fintech are planning to sell some portion of their stake in the company for ₹1,053 crore through block deals with a floor price of ₹1,258 per share, a 6 per cent discount to the closing share price on Thursday. According to the term-sheet seen by businessline, Yashish Dahiya and Alok Bansal will be selling 54 lakh shares and 29.7 lakh shares respectively, cumulatively representing 1.86 per cent equity of the fintech. According to the shareholding pattern at the end of March 2024, Dahiya held 4.63 per cent stake or 2.1 crore shares in the company, while Bansal held 75.4 lakh shares or 1.67 per cent stake

Two top executives of PB Fintech are planning to sell some portion of their stake in the company for ₹1,053 crore through block deals with a floor price of ₹1,258 per share, a 6 per cent discount to the closing share price on Thursday. According to the term-sheet seen by businessline, Yashish Dahiya and Alok Bansal will be selling 54 lakh shares and 29.7 lakh shares respectively, cumulatively representing 1.86 per cent equity of the fintech. According to the shareholding pattern at the end of March 2024, Dahiya held 4.63 per cent stake or 2.1 crore shares in the company, while Bansal held 75.4 lakh shares or 1.67 per cent stake

The B K Birla Group on Thursday announced the death of Manjushree Khaitan, the chairperson of Kesoram Industries Ltd. Khaitan, 68 died in her Kolkata home following a brief illness, leaving behind a legacy of exceptional leadership and philanthropy, group officials said. Having joined the Kesoram Board in October 1998, Khaitan assumed the role of chairperson in July 2019, following the demise of her father, industrialist B K Birla.

Reliance Jio has deposited the highest earnest money of ₹3,000 crore for the upcoming spectrum auction, which gives the company the potential to bid for maximum radiowaves, according to details published by the Department of Telecom on Thursday. According to pre-qualified bidder details released by the DoT, Bharti Airtel has submitted the earnest money deposit (EMD) of ₹1,050 crore and Vodafone Idea (VIL) of ₹300 crore. Meanwhile, in a separate notice, Reliance Industries said that Reliance Retail has entered into a partnership to sell British online retailer ASOS’ products in India. “Under a long-term licensing agreement, Reliance Retail will be the exclusive retail partner for ASOS across all online and offline channels in India,” the firm said in a statement. ASOS’ products cater to young adults. The agreement is ASOS’ first country-wide exclusive retail partnership.

The custom manufactured chemicals division of Chemplast Sanmar Ltd has signed a Letter of Intent with a global agrochemical company, to manufacture an advanced intermediate for a new pipeline “active ingredient”, the company said on Thursday. The chemicals division manufactures advanced intermediates and active ingredients for global agrochemical, pharmaceutical and fine chemical companies. The division has invested in state-of-the-art production blocks, research and development facilities to handle a wide range of processes.

ITI Ltd has received Letter of Intent worth ₹37.5 crore from Bihar Renewable Energy Development Authority for installation of solar street light systems. In a statement, the company said, ITI Limited’s Naini unit has received the Letter of Intent (LOI) for design, supply, installation, testing, and commissioning with Comprehensive Maintenance Contract (CMC for five years) including remote monitoring system of 2,800 numbers of solar streetlight systems from DPRO Katihar amounting to ₹8.58 crore under Mukhyamantri Gramin Solar Street Light Yojana. The Naini unit also received another LOI amounting to ₹28.94 crore, it said.

Mining billionaire Anil Agarwal-led Vedanta Ltd on Thursday said its board has approved raising up to Rs 8,500 crore through issuance of securities. The company will look at raising funds via instruments like American depository receipts, global depository receipts and foreign currency convertible bonds. However, this is subject to regulatory approvals. The board also gave its go-ahead for investment in Vedanta Copper International VCI Company Ltd (VCI) to set up a continuous cast copper rod plant in Saudi Arabia with a capacity of 125 kilo tonnes per annum.

BLS E-Services Ltd, which runs rural banking outlets, is considering an acquisition in the current financial year as part of its inorganic growth strategy. The company — which has a tie-up with 15 banks, including State Bank of India, Bank of Baroda and HDFC Bank — has 21,000 banking correspondent centres across the country.

IDFC First Bank has said that the Reserve Bank has accord its approval to appoint Pradeep Natarajan as Whole Time Director, designated as Executive Director of the Bank for a period of three years. The Bank will take necessary steps to complete the formalities for appointment of Pradeep Natarajan as Executive Director of the Bank.

The board of investment Endurance Technologies has approved an investment of ₹401 crore for greenfield project in Sambhajinagar. It plans to set up a greenfield project at Aurangabad Industrial City (AURIC). The manufacturing facility shall produce aluminum die casting parts for automotive (ICE and EV) and non-automotive segments, with value added processes like machining, assemblies, friction stir welding and surface treatments.

Infosys has announced a strategic multi-year collaboration with Telstra, Australia’s leading telecommunications and technology company, to accelerate its software engineering and IT transformation journey and further enhance their customer experience. Building on a longstanding association, this collaboration aims to support Telstra’s company-wide strategy.

The board of eClerx Services Ltd has approved the buyback of 13.75 lakh shares at ₹2,800 a share via tender route on a proportionate basis. The company will spend a maximum of ₹385 crore for this buyback, which will amount to 24.98 per cent of the aggregate of the total paid-up equity share capital and 18.38 per cent of the free reserves. Promoters of the company intend to participate in the buyback process, the exchange filing said. eClerx promoters currently have 53.61% equity in the company.

Results calendar: 20 Microns, Amber Enterprises India, Anuh Pharma, Asian Warehousing, Asian Star Co., Astral, Allcargo Terminals, Atul Auto, Balkrishna Industries, Balrampur Chini Mills, Bandhan Bank, Centrum Capital, Delhivery, Dhanuka Agritech, Duroply Industries, Fortis Malar Hospitals Limited, Gita Renewable Energy, GlaxoSmithKline Pharmaceuticals, GMR Power and Urban Infra, Godrej Industries, GPT Infraprojects, Hariom Pipe Industries, HB Leasing & Finance Co., HB Stockholdings, Indraprastha Medical Corp., J.B. Chemicals & Pharmaceuticals, JSW Steel, Kirloskar Ferrous Industries, KSE, LT Foods, Global Health, Mindteck (India), NHC Foods, NHPC, Odyssey Corporation, Onward Technologies, Pasupati Acrylon, Pfizer, The Phoenix Mills, Poly Medicure, Polyplex Corporation, Pradeep Metals, Prakash Industries, Precision Electronics, Premier Polyfilm, Rashtriya Chemicals & Fertilizers, Richfield Financial Services, Rithwik Facility Management Services, Raghav Productivity Enhancers, Rail Vikas Nigam, Sadhana Nitrochem, Shipping Corporation of India, Sellwin Traders, Shah Metacorp, Shalimar Paints, Shetron, Simplex Mills Company, Simplex Papers, Sobha Limited, Sterling Guaranty & Finance, Sturdy Industries, Sudarshan Chemical Industries, SVA India, S V Global Mill, Syncom Formulations (India), Taneja Aerospace & Aviation, Tasty Bite Eatables, Tourism Finance Corporation of India, TV Today Network, Udaipur Cement Works, Ultracab (India), Uniroyal Industries, Universal Cables, Vardhan Capital & Finance, Vinati Organics Zee Entertainment Enterprises Sanmitra Commercial, Zydus Lifesciences Ltd.

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