Buzzing stocks.Stocks that will see action today: April 29, 2024

Apollo HealthCo Limited, a subsidiary of Apollo Hospitals Enterprise Limited, has entered into a binding agreement to raise equity capital of ₹2,475 crore from Advent International, one of the world’s largest and most experienced global private equity investors. In addition, Apollo 24/7 has entered into a framework agreement to integrate 100% of Keimed Private Limited, India’s leading wholesale pharma distributor, in a phased manner over the next 24-30 months.

Apollo HealthCo Limited, a subsidiary of Apollo Hospitals Enterprise Limited, has entered into a binding agreement to raise equity capital of ₹2,475 crore from Advent International, one of the world’s largest and most experienced global private equity investors. In addition, Apollo 24/7 has entered into a framework agreement to integrate 100% of Keimed Private Limited, India’s leading wholesale pharma distributor, in a phased manner over the next 24-30 months.

KCP Ltd has received a dividend of $5,333,335 (₹ 44.44 crore from its subsidiary KCP Vietnam Industries Ltd., Vietnam, towards Dividend for Year 2023 on April 25.

The board of IDFC First Bank Ltd has approved the proposal for re-appointment of V Vaidyanathan as the MD & CEO of the Bank, for a further period of three years, post the expiry of his current term on December 18. The appointment is subject to the approval of the Reserve Bank of India and the Shareholders of the Bank .

Ircon International Limited under its Joint Venture with Dineshchandra R Agrawal Infracon Pvt Ltd (DRA) has been awarded the LOA for the construction of Kottavalasa-Koraput Doubling Project, East Coast Railway, on EPC mode at a quoted bid price of ₹1198.09 crore.

Zydus Lifesciences has received final approval from the United States Food and Drug Administration (USFDA) to market Tretinoin Cream USP, 0.1%, (USRLD: Retin-A Cream, 0.1%). Tretinoin cream is used to treat acne. The drug will be manufactured at the group’s topical manufacturing facility at Changodar, Ahmedabad (India).

The Department of Public Enterprises (DPE) has granted the ‘Navratna status’ to Indian Renewable Energy Development Agency Limited (IREDA).

Cipla Health Limited, wholly owned subsidiary of Cipla Ltd has completed the purchase of the distribution and marketing business undertaking of cosmetics and personal care business from Ivia Beaute Private Limited, through a slump sale arrangement, on a going concern basis on April 26.

Welspun Specialty Solutions Limited has received an order valued at ₹21.64 crore (including taxes) from a domestic PSU customer for supply of stainless steel seamless tubes. These tubes shall be produced in an integrated manner under one roof (from steel making to final Tubes) and will be used for critical boiler application. The order is expected to be executed by January 2025.

AdaniConneX, a 50:50 JV between Adani Enterprises and EdgeConneX, has established India’s largest sustainability linked financing to raise up to $1.44 billion. The financing has an initial commitment of $875 million, with an accordion feature to extend commitment up to $1.44 billion. The transaction elevates AdaniConneX’s construction financing pool to $1.65 billion, building on the maiden construction facility of $213 million executed in June 2023.

Vidli Restaurants Limited had earlier announced the sale, transfer or otherwise disposal of entire investment held by the Company in its material subsidiary viz. Vitizen Hotels Limited. The Company had signed the Memorandum of Understanding with Eco Hotels and Resorts Limited on February 12 (MoU) for the disposal of entire investment in its material subsidiary. The said MoU has come to an end due to efflux of time and failure to comply with the payments and timelines as stipulated in the MoU and due to undue demand for deviation from the agreed terms by Eco Hotels and Resorts Limited the company does not plan to proceed with the transaction.

ICICI Bank has said that it has received an email from the NCLT that certain shareholders have e-filed an application before court with regards to the ICICI Securities delisting. The bank will make an appropriate representation.

Bata India Ltd has executed the sale deed with Amolik Buildcon LLP for the Faridabad Land and has received the entire consideration (net of TDS), ₹154.44 crore. The company had earlier announced the monetisation of freehold industrial land admeasuring approximately 11.54 acres situated in Faridabad.

The board of Patanjali Foods has approved to buy the non-food operations from Patanjali Ayurved Ltd. “The board accorded its in-principle approval for evaluating the most efficient mode of enhancing synergies with PAL’s non-food portfolio in any manner on an arm’s length basis,” the release stated.

The Sandur Manganese & Iron Ores Limited has signed a Share Purchase Agreement with an entity affiliated with ADV Partners, an Asia-focused private equity firm to acquire a controlling interest in Arjas. The transaction has been agreed at an Enterprise Value of ₹3,000 crore and will be subject to customary regulatory approvals and closing conditions. Through this transaction, ADV will fully divest its interest in Arjas marking another successful exit from its India portfolio.

BGR Energy Systems has received communications from the banks regarding the invocation and encashment of bank guarantee by Andhra Pradesh Power Generation Corporation Limited amounting to ₹416.10 crore based on Supply contract & Services contract executed with APGENCO in 2016 (Project Name: Dr Narla Tatarao Thermal Power Station), for which Union Bank of India, State Bank of India and Canara Bank had given bank guarantee on behalf of the Company. The company has not received any notice of termination of contract.

ATC Telecom Infrastructure on Friday (April 26) sold its entire 2.87 per cent stake (i.e. 144 crore shares) in Vodafone Idea, at an average price of ₹12.78, according to NSE bulk deal data. The total value of the shares sold by ATC stood at ₹1,840.32 crore. The bulk deal data furthe revealed that Citigroup Global Markets Mauritius bought 49.12 crore shares at ₹12.7 a share and later sold 98.74 lakh shares at ₹13.47 a share, that resulted in net buying of 0.73 per cent stake.

Capital markets regulator Securities and Exchange Board of India, which pointed out discrepancies in fees paid by BSE to the regulator on derivatives contracts, directed the bourse to pay up the differential amount in fees along with 15 per cent interest for every year. The computation of the additional amount has to be certified by a chartered account and paid within a month from the date receipt of SEBI’s letter.

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