Stocks to Watch: LIC, Bata India, Tata Motors, Lupin
LIC: The Department of Economic Affairs has granted the company 10 years to achieve a minimum of 25% public shareholding instead of the usual three years. It said the decision was taken in the “public interest". GMR Airports Infrastructure: Its subsidiary GMR Airports signed an agreement with the National Investment and Infrastructure Fund (NIIF) to invest ₹675 crore in the upcoming airport at Bhogapuram, Andhra Pradesh.
Bata India: The footwear company said Pankaj Gupta will resign as head of retail and franchisee operations and move to a global position in the Bata group from March 1, 2024. MOIL: The state-owned manganese ore mining company announced that production crossed 16 lakh tonnes this calendar year (as of 20 December), 26% higher than the previous record, set in 2019. Suven Pharmaceuticals: Himanshu Agarwal will be appointed CFO of the company from January 2, replacing Subba Rao Parupalli, who has resigned.
Agarwal previously worked with Akzo Nobel India, Astra Zeneca Pharma and Bennett & Coleman. 360 ONE WAM: It has entered into a share purchase agreement with MAVM Angels to acquire the remaining 9% stake and make it a wholly owned subsidiary. It acquired 91% in the company in November 2022.
Tata Motors: The BSE and NSE have granted a no-objection certification for the cancellation of Tata Motors DVR shares. Sebi has issued multiple comments on the draft scheme of arrangement. Zomato: The company has denied reports that it acquired Shiprocket for $2 billion.
It continued to focus on the existing business and has plans to make an acquisition at this point. Lupin: The company has launched Softovac Liquifibre, a liquid laxative. Kaynes Technology: Kaynes Technology has approved the allocation of 57.75 lakh
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