Stocks in the news

TCS: The company's Rs 16,000-crore share buyback offer opens on December 18.

Dishman Carbogen: Promoter to sell 4.4 percent stake in the company via offer for sale on December 18 and December 21; floor price is set at Rs 145.70 per share.

Zee Entertainment Enterprises: The board approved the acquisition of film production & distribution business as a going concern, on a slump sale basis from Zee Studios, and approved the transfer of the digital publishing biz division to Rapidcube Tecbnologies. The board also approved the appointment of Sasha Mirchandani & Vivek Mehra as independent directors.

IDFC: Sipadan Investments (Mauritius) sold 2.17 percent stake in IDFC during November 23-December 16, reducing total shareholding to 7.3 percent.

ISGEC Heavy Engineering: The company secured a new order for Rs 431 crore.

Trent: Arisaig India Fund sold 2.05 percent stake in the company via open market transactions, reducing total shareholding to 5.54 percent.

Zee Entertainment: To acquire film production and distribution business on a slump sale basis from Zee Studios, a wholly-owned subsidiary. Acquisition to be done for a cash consideration of Rs 275 crore. Acquisition expected to be completed in approximately two months. Further, the Board of Directors have also approved the transfer of the Digital Publishing Business Division of the company to Rapidcube Technologies through a Business Transfer Agreement.

BPCL: The Board of Directors of the company have approved the merger of Bharat Gas Resources Ltd, a wholly-owned subsidiary of BPCL, with the company, subject to the approval of the competent authorities and completion of regulatory and other requirements. The board has also accorded its approval for the acquisition of 88.86 crore (36.62%) shares in Bharat Oman Refineries Ltd from OQ S.A.0.C.(formerly Oman Oil Company S.A.O.C), subject to the finalisation of definitive agreement between parties, the approval of the competent authorities and completion of regulatory and other requirements. The Board has also approved the proposal to approach Government of Madhya Pradesh for acquiring 2.69 crore warrants held by GoMP in BORL.

I.T. Stocks: Accenture raises FY21 revenue guidance to 4-6% from the earlier 2-5%.

Dishman Carbogen: Promoters Adimans Technologies plans to sell close to 69 lakh shares of the company through an offer for sale. The share sale represents 4.4% of the total paid-up equity share capital. The company will retain a greenshoe option to sell another 69 lakh shares. The floor price of 145.7 rupees per share is at 6% discount to Thursday's closing price. The OFS for non-retail investors opens on December 18 while for retail investors it opens on December 21.

Godrej Agrovet: The Department of Horticulture, Government of Telangana has allotted area admeasuring 28,164 Hectares in the Mahabubabad District of Telangana to the Company, for the purpose of oil palm cultivation/expansion. The said allotment is subject to execution of Memorandum of Agreement and completion of other procedural requirements by the company.

ISGEC Heavy Engineering: Has secured a new order from KPR Sugar & Apparels Limited to set up a 10,000 TCD Sulphurless Sugar Plant, 40 MW Co-Generation Plant, 60 TPH Incineration Boiler and a 7.5 MW Power Plant for Zero Liquid Discharge system for the client’s distillery plant on EPC basis. The order is valued at Rs 431 crore.

Defence Stocks: Defence Acquisition Council headed by Union Minister Rajnath Singh approved Capital Acquisition of various weapons/platforms/equipment/systems required by the Indian Army, the Indian Navy and the Indian Air Force at an approximate overall cost of Rs 28,000 crore, as per the Press Information Bureau.

Canara Bank: Life Insurance Corporation of India has acquired 6.28 crore shares through the QIP, taking its total shareholding in the bank to 8.35% from 4.533%.

Borosil Renewables: Raises Rs 200 crore through its QIP issue. The company has set an issue price of Rs 126.55 per share, which is a 5% discount from the QIP floor price of Rs 133.19 per share.

Tata Motors: Extends date for completion of the Conditions Precedents mentioned in the Scheme of Arrangement between the Company and Tata Advanced Systems Limited for transfer of Defense Undertaking.

Everest Kanto Cylinders: CARE Ratings has revised the credit rating on long-term Bank facilities of Rs 103.57 crore to BB+/Stable from BBB- and the rating on short-term Bank facilities of Rs 69.92 crore has been revised to A4+ from A3.

Shoppers Stop: The Right Issue Committee approved the allotment of 2.13 crore rights equity shares of Rs 5 each at a price of Rs 140 per rights equity share (including a premium of Rs 135 per share).

Bank of Baroda: Has appointed Ian De Souza as Chief Financial Officer of the bank w.e.f. December 17, 2020.