Stocks that will see action today (October 20)

Metro brands acquired Cravatex Brands Ltd, which is a retail, brand licensing, distribution and supply company that holds an exclusive long-term license for the Italian sportswear brand FILA, owns the clothing brand of Proline sports and represents other international brands.

The acquisition is based on the satisfaction of closing conditions by both parties. Paragon Partners, an existing investor in Cravatex Brands, will also sell its entire stake in this transaction. The deal will be entered into at a pre-money business valuation of ₹202.17 crore, which is subject to pre- and post-closing adjustments based on CBL’s outstanding debt at the date of completion.

state owned SJVN has won a 105MW floating solar project worth Rs 730 crore in an electronic reverse auction from the Maharashtra State Power Generation Company (MAHAGENCO).

Triton Electric Vehicle India Pvt Ltd, a subsidiary of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent for Bharat Electronics Ltd. for purchasing 300 KW Li-Ion batteries for its semi-trailer project in India worth an estimated ₹8,060 crore. Meanwhile, the Defense PSU has signed a MoU with Triton Electric Vehicle for the manufacture of hydrogen fuel cells with technology transfer from TEV, to meet the requirements of the Indian market and export markets. mutually agreed.

The advice of life insurance company approved the equity injection of LKR 60 crore (approximately ₹13.20 crore, based on current exchange rates) into LIC (Lanka) Ltd subject to Insurance Regulatory and Development approval Authority of India (IRDAI) and the Central Bank of Sri Lanka.

The advice of Rossarri Biotech Ltd approved the incorporation of a wholly-owned subsidiary in the People’s Republic of Bangladesh with an estimated total capital outlay of BDT300 million (about ₹25 Crore). The wholly owned subsidiary will enable the company to expand the market for RBL products in Bangladesh.

Jindal Steel & Power signed a memorandum of understanding with Greenko Group to facilitate 1,000MW of carbon-free power for its Angul steel plant in Odisha. It aims to become a net zero steel company by 2035, it said in a notice to the stock exchanges.

International Finance Corporation FDI AC sold 1.15 lakh shares or 0.14% stake in angel one through the open market on October 17. Following this, IFC’s stake in the company fell to 4.04% from 4.18%.

LIC announced on Wednesday that its stake in the hydroelectric group NHPC had fallen from 7.23% to 5.2%. LIC sold 2.03 crore shares at an average price of ₹34.42 each from March 17 to October 18.

Results calendar: Asian Paints, Axis Bank, Bajaj Finance, Colgate Palmolive, Aarti Drugs, Canara Bank, Central Bank of India, Clean Science and Technology, Coforge, Dixon Technologies, Happiest Minds Technologies, ITC, ICRA, Indian Energy Exchange, ICICI Securities, L&T Finance Holdings, Mphasis, Nazara Technologies, Shriram Transport Finance, Symphony, Tata Consumer Products, Tanla Platforms, United Breweries, Union Bank of India and UTI Asset Management Company.

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