Stock Market Live Updates 13 March 2024: Domestic shares likely to track Asian peers higher

March 13, 2024

3 minutes read

ITC: British American Tobacco, the largest public shareholder of the company, has launched a block trade to offload up to a 3.5% stake in the company for over Rs 17,482 crore.

* Vedanta:* The Securities Exchange Board of India ordered the company to pay Rs 77.62 crore to Scottish explorer Cairn for delay in payment of dividends and barred the firm’s entire board from accessing the capital market for the same.

* Aurobindo Pharma:* Eugia Pharma has restarted distribution of aseptic products and will start commercial production from aseptic lines in a phased manner beginning next week.

* Glenmark Pharma:* The company completed the transfer of the remaining 20% stake in Glenmark Life Sciences to Nirma.

* Shree Cement:* The company has entered into an asset purchase agreement with Starcrete LLP for the purchase of five ready-mix concrete plants located in Maharashtra for Rs 33.5 crore.

* SRF:* The company incorporated a wholly owned subsidiary, SRF Middle East, in Dubai for trading in refrigerant gases.

* Oriental Rail Infrastructure:* The company received an order worth Rs. 1,249 crore from the Ministry of Railways for the manufacturing and supply of 3,055 BOXNHL wagons.

* Ramco Cements:* The company inaugurated the Gati Shakti Cargo Terminal project in Andhra Pradesh to transport crushed limestone through railway wagons from the company’s mines in Budawada to its integrated cement plant in Jayanthipuram.

* Allcargo Logistics:* The company LCL volume for the month of February increased 7% YoY and FCL volume up 5% YoY for the month of February.

* Muthoot Capital:* The company partners with Greaves Cotton unit Greaves Finance 100% EV-focused lending platform evfin for electric two-wheeler financing across India.

* Indoco Remedies:* The company approved the purchase of 2,860 sq m of land in Mumbai.

* Sterling & Wilson:* The company has issued clarification on the Shapoorji stake sale report and said it is not aware of negotiations.

* Titagarh Rail Systems:* The company launched its second 25T Bollard Pull Tug, Bahubali, for the Indian Navy.

* Vakrangee:* The Reserve Bank of India has renewed the authorization issued to the company for white-label ATMs.

* Jammu and Kashmir Bank:* The company clarified that the news

item of an Enforcement Directorate action does not pertain to the bank in any manner.

Ethos: The company reduced its stake in Silvercity Brands AG to 35% from 100% earlier.

* Gensol Engineering:* The company incorporated Gensol Clean Energy as a wholly owned subsidiary.

* Welspun Living:* The company received approval from the NCLT, Hyderabad Bench for the amalgamation of five companies with itself and is awaiting approval from the NCLT, Ahmedabad

Bench.

* Signature Global India:* The company, through its subsidiary, has launched its new project “Orchard Avenue-3” in Gurugram. The project consists of a total of 235 units, with an area of 1.66 acres.

New Listing

JG Chemicals: The company’s shares will debut on the stock exchanges on Wednesday at an issue price of Rs 221 apiece. The Rs 251.19 crore IPO was subscribed 27.78 times on its third and final day. Bids were led by institutional investors (32.09 times), retail investors (17.44 times), and non-institutional investors (46.33 times).

IPO Offering

Popular Vehicles and Services: The public issue was subscribed to 0.27 times on day 1. There are no bids led by institutional investors, non-institutional investors (0.11 times), retail investors (0.47 times) and portions reserved for employees (3.83 times).

Bulk Deals

Kfin Technologies: Kotak Mahindra Bank sold 34.7 lakh shares (2.03%) at Rs 600.28 apiece.

Nirlon: Nihar Nandan Nilekani bought 22.52 lakh shares (2.49%) at Rs 430 apiece, while Kunal Virenchee Sagar sold 13.29 lakh shares (1.47%), and Alfano Pte. Ltd. sold 9.23 lakh shares (1.02%) at Rs 430 apiece.

Onward Technologies: White Oak India Equity Fund IV sold 1.25 lakh shares (0.55%) at Rs 463.81 apiece.

Insider Trades

Som Distillers and Breweries: Promoter Jagdish Kumar Arora bought 10,000 shares on March 12.

IPCA Laboratories: Promoter Paschim Chemicals bought 35,000 shares on March 11.

Zydus Wellness: Promoter Zydus Family Trust bought 1.86 lakh shares on March 11.

G R Infraprojects: Promoters Laxmi Devi, Suman, Ritu, Lalita, and Kiran sold 9.66 lakh shares each on March 7.

SBFC Finance: Promoter SBFC Holdings sold 3 crore shares between March 5 and 7.

Pledge Share Details

Paisalo Digital: EQUILIBRATED Venture CFLOW, PRI CAF, and PRO FITCCH revoked the pledge of 1.48 lakh shares on March 11.

Trading Tweaks

Price Band changes from 20% to 10%: JTL Industries.

Price Band changes from 10% to 5%: Gensol Industries, Swelect Systems.