SUMMARY
L&T Finance, Nestle, Sobha, Whirlpool, Torrent Pharma, Dr Reddy's Laboratories, Saksoft, PTC India Financial Services and Exide Industries are the stocks to watch today.
1 / 9L&T Finance | Private equity major Bain Capital, through its subsidiaries BC Asia Investment VI and BC Asia Growth Investment, is likely to exit L&T Finance Holdings by selling its 3.54% stake at a floor price of Rs 169.17 per action. This represents approximately 88.2 million shares and is part of a cleanup operation.
2 / 9Be protected | The consumer goods major said it will continue to pay royalties to its parent company at the current rate of 4.5% of net sales after shareholders rejected its proposal to increase it. The company's board of directors approved the continuation of the payment of general license fees at the current rate of 4.5% to Sociรฉtรฉ des Produits Nestlรฉ SA (licensor).
3 / 9sobha | The real estate company said it plans to raise Rs 2,000 crore through a rights issue of shares. The company intends to issue 1.21 crore equity shares each partially paid. The assumption of full subscription and payment of money on demand will result in the company getting Rs 2,000 crore.
4 / 9Whirlwind | Appliance as a washing machine manufacturer and Hindustan Unilever announced a new marketing alliance for Surf Excel, the laundry brand of the leading consumer goods manufacturer. Under the alliance, both brands will have joint marketing initiatives.
5 / 9Torrent Pharmacy | The company said the USFDA conducted a pre-approval inspection and GMP inspection at its Indrad facility between June 3 and 12, 2024. At the end of the inspection, the company received a Form 483 with five observations. The company said there are no observations related to data integrity.
6 / 9Dr. Reddy's Laboratories | The pharmaceutical major said it has resigned, a wholly owned subsidiary and Ingenus Pharma, have signed a licensing agreement under which Dr Reddy's USA has granted Ingenus the exclusive rights to market cyclophosphamide injectable RTD.
7 / 9saksoft | The company said it will acquire 100% equity in Augmento Labs in a strategic move to enhance its capabilities and presence in the product engineering space. The total acquisition cost is worth Rs 100 crore, which includes an initial cash consideration of Rs 35 crore and the balance as performance-based earn-out consideration over two financial years.
8 / 9PTC India Financial Services | The SEBI fined Pawan Singh Rs 25 lakh and barred him from taking up a director's position in a listed company for two years. Pawan Singh is the former MD and CEO of the company. SEBI also fined Rajib Kumar Mishra Rs 10 lakh and barred him from holding a director's post in a listed company for six months.
9 / 9Exide Industries | The company has invested another Rs 75 crore by subscribing to the equity capital of its wholly owned subsidiary Exide Energy Solutions on rights basis. With this, the total investment made by the company in EESL now stands at Rs 2,452.24 crore.
