Stocks to Keep an Eye on: United Breweries, SBI, Vedanta, Infosys, and HDFC Ltd
The Nifty futures contract traded on the Singapore Exchange suggests that local stocks are off to a good start. The contract was up 51.5 points, or 0.27%, from the previous close, trading at 18,862.50.
The merger of HDFC and HDFC Bank is now under progress, according to HDFC Ltd.; the effective date is currently preliminary and susceptible to change. Its chairman Deepak Parekh has said that the transaction was anticipated to be completed on July 1, 2023. Additionally, HDFC announced the union of HDFC Investments Limited and HDFC Holdings Limited, two of its fully-owned subsidiaries, with HDFC Limited.
Vedanta: According to sources cited by CNBC-TV18, Vedanta-Foxconn has updated their application for approval to set up a semiconductor production facility in the nation and submitted it to the Ministry of Electronics and Information Technology (MeitY). The revised proposal seeks clearance for the project in the 40 nm node category in accordance with the new MeitY rules.
The State Bank of India: The lender’s board authorized the purchase of the whole 20% share in SBI Pension Funds Pvt Ltd that is presently owned by SBI Capital Markets Ltd.
Infosys: The business and Skillsoft have agreed to work together to promote digital learning using the Springboard platform. Through its platform, Infosys will provide learners with free access to Skillsoft’s instructional materials.
At its Ramamasamy Raja Nagar plant, Ramco Cements’ Line III clinker production facility was put into operation. This is the first integrated cement line that has been built in the southern region of Tamil Nadu in the previous 15 years.
Birla, Aditya Fashion & retail: The firm was given permission by the Indian Competition Commission to purchase 51% of the increased share capital of TCNS Clothing firm.
Gujarat Metro Rail Corporation issued Titagarh Wagons a letter of acceptance authorizing it to design, develop, produce, deliver, test, commission, and train 72 standard gauge cars for Surat Metro Rail at a cost of Rs 857 crore.
United Breweries Limited: In partnership with The Fantam, a company located in Bengaluru, Kingfisher has announced the launch of KF.LIFE, its first-ever online shop for products. Kingfisher expects to spend around Rs 73.8 lakh in the first year and earn Rs 1.25 lacs as a result.
ITC: Mother Sparsh’s 857 compulsorily convertible preference shares, each worth Rs 10, were purchased by the business. The purchase is estimated to be around 11.54 crore. Having done so, the business now owns 26.5 percent of Mother Sparsh’s fully diluted share capital.
Densu X received a publicity mandate from Berger Paints. Currently, Berger Paints spends almost 200 crores on media. The account was chosen after a multi-agency pitch and will be handled by the agency’s branch in Kolkata. To enhance brand equity via offline media, such as print, television, and radio, the agency will handle media strategy, planning, purchasing, and execution.
Gland Pharma: Following a pre-approval inspection (PAI) for seven products and a good manufacturing practice (GMP) inspection between June 15 and June 27, 2023, the United States Food and Drug Administration (US FDA) issued one 483 observation for the company’s Pashamylaram Facility in Hyderabad.
