Stock Corner
1.
Larsen &
Toubro approved a buyback proposal of 6 crore shares, amounting to Rs 9,000 crore,
at a price of Rs 1,500 apiece. This is a premium of 13.45 percent as of
Tuesday’s closing price of Rs 1,322.15. The stock closed 1.9% higher.
2.
Nestle India
share price rallied nearly 6 percent after partnering with Flipkart to launch
MAGGI Special Masala noodles. As a part of the partnership, from August 21
consumers can pre-book MAGGI Special Masala Noodles on Flipkart, the company
said. The stock hit a record high of Rs 1590.
3.
Granules
India got an approval for ANDA from the USFDA for Ranitidine Tablets USP (150
mg) and Cool Mint (OTC-150 mg).
4.
Ultratech
Cement got an approval from Competition Commission of India for acquiring
Century Textiles and Industries’ cement business.
5.
BPCL
clarified that a media report on the company plans to shut its Mumbai refinery
for two months is factually incorrect.
6.
Tata Motors
announced a launch of compact SUV Nexon in Sri Lanka priced between 1.99mn and
4.6mn Sri Lankan rupees.
7.
HDFC inked
pact with Manipal Integrated Services for an acquisition of 30.5 lakh shares, representing
25.01% share capital of Good Host Spaces at a cost of Rs69.5cr.
8.
Jet Airways
to consider cost reduction initiatives and turnaround plan on Aug 27.
9.
GE Power
bagged an order from BHEL to supply 1 6F.03 turbine & a generator, which
will be installed at HPCL’s refinery at Vizag in India.
10.
Welspun Corp
entered into an agreement for supply of 56 KMT of pipes for oil & gas
project in the America.
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