Stocks to Watch: Exide Industries, Aurobindo Pharma, L&T, Bajaj Finance

Exide Industries: Exide Industries Ltd has settled its trademark dispute with the UK’s Vertiv Company Group Ltd. and India’s Vertiv Energy Pvt. VCGL and VEPL have agreed that the trademark Chloride and its variants in India are registered by Exide, according to an exchange filing issued on Friday.

Aurobindo Pharma: The United States Food and Drug Administration (US FDA) concluded a pre-approval inspection of Unit-I & III of Aurobindo Pharma subsidiary APL Healthcare’s formulation manufacturing facility in Telangana with zero observations. The inspection, conducted from 13-17 November, was closed with “no action indicated”.

Larsen & Toubro: Qatar’s General Tax Authority has fined the company ₹111.31 crore for 2016-2017 and ₹127.64 crore for 2017-2018. The company has filed an appeal, saying the fines are arbitrary and unjustified.

Delhivery: Japanese conglomerate SoftBank has sold a nearly 2.5% stake in the integrated logistics provider for ₹739 crore through an open market transaction. Data from the NSE showed that SoftBank affiliate SVF Doorbell (Cayman) Ltd offloaded 1,83,05,480 shares at an average price of ₹403.51.

NBCC (India): NBCC has signed a memorandum of understanding with the Institute of Chartered Accountants of India (ICAI), which has awarded it contracts to plan, design and construct its buildings and undertake renovation at various locations in India. NBCC will complete the works at a PMC fee of 6.5% of the project cost.

Bajaj Finance: The company has temporarily stopped issuing member identification cards (EMI Cards) to new customers until certain deficiencies observed by the RBI are rectified to the regulator’s satisfaction.

SBI Cards and Payment Services: The capital adequacy of the company is expected to decline by 400 basis points due to the RBI’s revised credit risk weights. The company said it does not foresee a significant impact to its cost of funds this financial year. If needed, will raise tier-II capital, but there is no need to raise funds via equity, it said.

Cipla: The company announced on Friday that it has pledged a guarantee of ZAR 945 million to FirstRand Bank in South Africa. The guarantee is meant to facilitate the extension of general banking facilities to Cipla’s subsidiary, Medpro Pharma.

RITES: Rail India Technical and Economic Service said on Friday that it secured a tender for 10 diesel-electric locomotives from CFM Mozambique, but it did not win the bid for 300 high-side wagons. The transport infrastructure consultancy and engineering firm said it was the lowest bidder in two tenders from CFM Mozambique and secured the tender for 10 diesel-electric locomotives, valued at $37,680,080, while the tender for 300 high-side wagons went to a different bidder.

Kalyan Jewellers: Kalyan Jewellers FZE, a subsidiary of Kalyan Jewellers India, acquired the remaining 30% stake in Kalyan Jewellers LLC Oman on Thursday. Kalyan Jewellers LLC Oman is now a wholly owned subsidiary of Kalyan Jewellers FZE.

Milestone Alert!Livemint tops charts as the fastest growing news website in the world ???? Click here to know more.

Updated: 20 Nov 2023, 07:06 AM IST