Stocks to watch: Due to selling pressure in late trade on the day of the expiration of August derivative contracts, the market closed down yesterday session for the first time in the previous three sessions. Despite encouraging global indications, the majority of the key industries caused the benchmark indices to decline. The Nifty dropped 83 points to 17,522 while the BSE Sensex dropped 311 points to 58,775.
Syrms SGS Technology
On August 26, the company will make its market debut. The share price for the offering has been set at Rs. 220.
Dr Reddy’s Laboratories
For its Srikakulam facility, the company has obtained an Establishment Inspection Report (EIR). The United States Food & Drug Administration (USFDA) inspected the formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh, the business disclosed in July. The agency has now declared the inspection to be “closed.”
Nelco
Through a partnership with Nelco, India’s top satellite communication service provider, Intelsat, the industry’s leading inflight connectivity (IFC) provider, announced the launch of Intelsat’s inflight connectivity services in Indian skies. With intentions to expand these services to new airlines in cooperation with its international partners, Nelco has been providing the Aero IFC services for more than two years.
Eicher Motors
Chief Financial Officer and Key Managerial Personnel Kaleeswaran Arunachalam has submitted his resignation. His resignation will become effective on September 2 after office hours.
HDFC Bank
With Go Digit Life Insurance, HDFC Bank has signed into a non-binding term sheet. For a maximum equity stake of 9.944 percent, the bank will invest between Rs 49.9 crore and Rs 69.9 crore in the company over two tranches.
Inox Wind Energy
The company announced that on August 30, its board of directors will discuss fund raising. The money will be raised either through a private placement or a preferential issue.
Max Financial Services
The Pension Fund Regulatory and Development Authority issued the Commencement of Business (COB) certificate to Max Life Pension Fund Management (Pension Fund) on August 23. Max Life Insurance Company has confirmed this (PFRDA). This subsidiary will oversee the National Pension Scheme’s investment options for managing pension assets.
Infibeam Avenues
The board of directors has given the business permission to raise Rs 161.50 crore through the preferential issuance of warrants. The money will be used for additional business needs as well as domestic and international fintech and software business expansion. The business has made a strategic investment and will hold a 50% share in the software start-up Vishko22 in Gurgaon.
Yes Bank
According to the private lender, two non-executive non-independent directors have been reclassified as nominee directors on the board as a result of an EGM resolution. With effect from July 15, 2022, the private sector lender named T Keshav Kumar and Sandeep Tewari to its board of directors as non-executive non-independent directors.
FSN E-Commerce Ventures
The actress Priyanka Chopra Jonas announced a partnership with the Nykaa-branded beauty and wellness e-commerce company FSN E-commerce to introduce her haircare line Anomaly to the Indian market.
DLF
The real estate giant expects its new luxury housing development in Panchkula, Haryana, to generate sales income of almost Rs 1,300 crore due to an increase in demand for independent floors. Valley Gardens, a new 34 acre project by DLF, has begun construction in Panchkula.
