Stocks in the news

Tata Motors: Company to increase prices of commercial vehicles starting January, due to rise in input cost, forex impact.

Wendt: Promoters will sell up to 4.74% stake in company via OFS during December 22-23, floor price set at Rs 2,200 per share.

Lupin: Company received US FDA nod for generic of Banzel oral suspension.

Thermax: First Energy becomes wholly owned subsidiary of Thermax.

Asian Paints: Promoter entity Smiti Holding and Trading Company released pledge on 9 lakh shares.

GTPL Hathway: Company increased shareholding in subsidiary GTPL Abhilash Communication.

Tata Motors: To increase commercial vehicle prices from January 1, 2021. The company said that steady rise in material and other input costs, impact of forex and transition to BS-VI norms, have cumulatively escalated the cost of manufacturing vehicles. The price increase is expected across the portfolio of M&HCV, l&LCV, SCV & Buses. The actual change in price will depend on individual model, variant and fuel type.

JSW Steel: JSW Steel’s Italian unit has entered into a share purchase agreement with Industrial Development Corporation, South Africa to acquire 30.73% of GSI Lucchini S.p.A. for a cash consideration of 1 million Euros. Acquisition made to strengthen presence in overseas grinding media markets. JSW Steel's Italian subsidiary already holds balance 69.67% stake in GSI.

NIIT: To consider buyback of equity shares at its board meeting on December 24.

Lupin: Has received approval for its Rufinamide Oral Suspension, 40 mg/ml, from U.S. FDA, to market a generic equivalent of Banzel Oral Suspension, 40 mg/ml, of Eisai Inc. Rufinamide Oral Suspension, 40 mg/ ml had estimated annual sales of $124.5 million in the U.S. for the 12-month period ending September 2020, as per IQVIA data.

Wendt: The offer for sale to sell 4.74% of total equity stands withdrawn. Carborundum Universal along with Wendt GmbH had planned to sell 4.74% of the total equity in order to bring down their shareholding to 75%. Withdrawal due to delay in transfer of the sale shares as required under SEBI OFS circulars.

Kolte-Patil Developers: Announces second phase of strategic land monetisation for Sector R10 of Life Republic with U.K.-based Planet Smart City for Rs 81 crore.

Cyient: Beijing Administration for Industry and Commerce has approved the de-registration of the company’s wholly-owned subsidiary Cyient Engineering (Beijing) Ltd.

Indian Bank: The Special Resolution for appropriation of accumulated losses of Rs 18,975.53 crore was passed with requisite majority by the shareholders of the bank during the EGM. The bank had proposed to utilise the amount (Rs 19,833.15 crore) standing in the Share Premium Account for the purpose of setting off the accumulated losses of Rs 18,975.53 crore.

Engineers India: Fixes January 1, 2021 as the record date for share buyback.

Thermax: Increased its stake in First Energy Pvt. Ltd. to 100% from 76% by acquiring the remaining stake. With this, First Energy becomes a wholly-owned subsidiary of the company.

Future Enterprises: Defaults on payment of interest of Rs 13.91 crore due on Non-Convertible Debentures.

United Spirits: Has completed the sale of all the shares held in its subsidiary Liquidity Inc. With this, Liquidity Inc. ceases to be a subsidiary of the company.

Antony Waste Handling Cell IPO: Issue subscribed 1.98 times on the first day of bidding. QIB portion subscribed 63%, non-institutional portion subscribed 8% while the retail portion was subscribed 3.56 times.