Stocks: Adani Enterprises, Ruchi Soya, RIL, IRB Infra, Lupin and more

by Business | 17-08-2021 | 229 views

Sensex ended 145 points higher at a new peak of 55,582 and Nifty advanced 34 points to a fresh high of 16,563. Indian benchmark indices are likely to open lower today as SGX Nifty fell 24 points to 16,539 amid mixed global cues.

Stocks:

Adani Enterprises: Adani Road Transport Ltd (ARTL), a wholly owned subsidiary of Adani Enterprises Ltd (AEL), has entered into a definitive agreement to acquire Maharashtra Border Check Post Network Ltd (MBCPNL), a subsidiary of Sadbhav Infrastructure Project Limited (SIPL).

The acquisition is at an enterprise value of Rs 1,680 crore, and is subject to customary regulatory and lender’s approvals, the company said, adding the deal is expected to close in Q3 FY22.

Ruchi Soya: Edible oil firm Ruchi Soya, which is owned by Baba Ramdev-led Patanjali Ayurveda, has filed draft document with SEBI to launch a follow-on public offer (FPO) for raising up to Rs 4,300 crore.

The FPO is being launched to meet the SEBI norm of minimum public shareholding of 25 per cent in a listed entity. Ruchi Soya filed the draft red herring prospectus (DRHP) with market regulator SEBI on Saturday, sources said, adding that the company plans to raise up to Rs 4,300 crore through the share 

Lupin: Global pharma major Lupin Limited (Lupin) announced that it has received tentative approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) Brivaracetam Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, to market a generic equivalent of Briviact Tablets, 10 mg, 25 mg, 50 mg, 75 mg, and 100 mg, of UCB Inc. This product will be manufactured at Lupin’s Nagpur facility in India.

Petronet LNG: The company hopes to extend its long-term deal to purchase liquefied natural gas (LNG) from Qatar to beyond 2028, the company's head of finance V.K. Mishra said on Monday. Petronet has a deal to buy 7.5 million tonnes per year (mtpa) of LNG from Qatar under a long-term deal expiring in 2028.

IRB Infra: The company said it has achieved full commercial operation date (COD) for Chittorgarh-Gulabpura six-laning highway project in Rajasthan.

The National Highway Authority of India (NHAI) has issued completion certificate to IRB Infrastructure Developers Ltd. On receipt of this, the company has now become eligible for collecting toll fees at full tariffs, which will be higher by about 58 per cent than the existing tariffs.

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