Stocks to watch on BSE and NSE on Friday:-
Dr Reddy’s Laboratories
The company obtained an Establishment Inspection Report (EIR) for its Srikakulam facility. The United States Food & Drug Administration (USFDA) inspected the formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh, the business disclosed in July. The agency has now declared the inspection to be “closed.”
With Go Digit Life Insurance, HDFC Bank has signed into a non-binding term sheet. For a maximum equity stake of 9.944 percent, the bank will invest between Rs 49.9 crore and Rs 69.9 crore in the company over two tranches.
Inox Wind Energy
The business announced that on August 30, its board of directors would discuss fundraising. The money will be raised either through a private placement or a preferential issue.
According to the private lender, two non-executive non-independent directors have been reclassified as nominee directors on the board due to an EGM resolution. From July 15, 2022, the private sector lender named T Keshav Kumar and Sandeep Tewari to its board of non-executive non-independent directors.
FSN E-Commerce Ventures
The actress Priyanka Chopra Jonas announced a partnership with the Nykaa-branded beauty and wellness e-commerce company FSN E-commerce to introduce her haircare line Anomaly to the Indian market.
The real estate giant expects its new luxury housing development in Panchkula, Haryana, to generate sales income of almost Rs 1,300 crore due to an increase in demand for independent floors. Valley Gardens, a new 34 acre project by DLF, has begun construction in Panchkula.
Chief Financial Officer and Key Managerial Personnel Kaleeswaran Arunachalam have submitted his resignation. His resignation will become effective on September 2 after business hours.
Max Financial Services
The Pension Fund Regulatory and Development Authority issued the Commencement of Business (COB) certificate to Max Life Pension Fund Management (Pension Fund) on August 23. Max Life Insurance Company has confirmed this (PFRDA). In general, this subsidiary will oversee the National Pension Scheme’s investment options for managing pension assets.
The board of directors has given the business permission to raise Rs 161.50 crore through the preferential issue of warrants. So, the money will be used for additional business needs and domestic and international fintech and software business expansion. Lastly, the business has made a strategic investment and will hold a 50% share in the software start-up Vishko22 in Gurgaon.
Through a partnership with Nelco, India’s top satellite communication service provider, Intelsat, the industry’s leading inflight connectivity (IFC) provider, announced the launch of Intelsat’s inflight connectivity services in the Indian skies. With intentions to expand these services to new airlines in cooperation with its international partners, Nelco has been providing the Aero IFC services for more than two years.
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