Agriculture & Allied Industries-events Events & Expos

Paytm, Yes Bank, HDFC Bank, UltraTech Cement, TVS Motors, Goodluck India, Bank of Baroda

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Paytm

Approves buyback of a maximum size of Rs 850 cr, at a maximum buyback price of Rs. 810/share. Shares will be bought back via the open market route. Shareholders approval is not required for the same. Buyback start date not known; usually open market buyback can start within 10 days of board approval. Company’s directors and key management personnel will not sell any shares during the buyback period.

Yes Bank

Approves allotment of 369 cr shares and 256 cr warrants

Approves allotment of shares to CA Basque, Verventa

Approves allotment of shares, warrants to Verventa

Carlyle’s Sunil Kaul, Advent’s Shweta Jalan to join board

Approves allotment of shares at `13.78/each

HDFC/HDFC Bank

HDFC-HDFC Bank merger: BSE, NSE give in-principle approval

Hindalco Industries (Agencies)

Cut its selling prices of aluminium ingots by around 2.4% today as compared to a week ago. Prices of aluminium wire rod too were cut by around 2.3%. This comes after the company had sharply raised prices of aluminium ingot by around 6.6% in the week up to Dec 6. Aluminium wire rod prices were also hiked by the company by around 6.4% in the same period.

UltraTech Cement Limited

Announced the commissioning of 1.9 mtpa greenfield clinker backed grinding capacity at Rajasthan. The company along with its subsidiary now has 16.25 mtpa cement capacity in the state. The total cement manufacturing capacity in India now stands at 121.35 mtpa

TVS Motors

Plans to launch Euro-5 two-wheelers in Turkey

Bayer CropScience Limited

The crop protection formulations plant located at Gujarat has been temporarily discontinued pursuant to the Directions under Section 33-A of the Water (Prevention and Control of Pollution) Act 1974

IFB Industries

Approved an investment of upto Rs. 97 cr in Equity issue of IFB refrigeration

Goodluck India

To consider and approve Issue and allotment of warrants convertible into Equity shares and Equity Shares on preferential issue basis

Heads Up Ventures Limited

Co has entered into a contract with Reliance Retail Limited, for sale of the products viz. fashion apparels, accessories, bags, footwear etc. under the brand name “HUP”

Bank of Baroda

Approves Divestment Of Holding In Nainital Bank

Kamat Hotels

Board meet scheduled today to consider fund raising by way of fresh issue of Equity/NCDs/Warrants, etc

SBI

Meeting of the Central Board scheduled today to seek approval for raising of Additional Tier 1 Capital

Gland Pharma – Mgmt. Meet Takeaways (Investec)

No clarity/visibility on Fosun stake sale plans

Cenexi acquisition is strategic – diversifies its sales mix and gives access to EU new techs/new clients

Synergies from the acquisition to be realized in 15-18 months

Supply chain – syringes sorted, stoppers normalization in next 2Qs

No overlap with Fosun, dividend not on agenda due to high leakage

Dr Reddy’s – Mgmt. Meet Takeaways (Investec)

Mgmt expects gRevlimid to be a strong CF generator for several Qs

Believes they are well placed on its anti-trust litigation (Research) defence

Other than capex and R&D, M&A is a key focus area in its capital allocation agenda

M&A looking, especially in EMs (India, Russia, etc.) & selectively in the EU/US

Mgmt. expects better PSAI growth (double digits)

Biologics CDMO oppy lucrative and believes India growth is set to improve

Max Financial Mgmt. Meet (Emkay)

Well on track to transfer an additional 7% stake in Max Life to Axis Bank group entities, after completing the acquisition of 5.17% stake in Max Life from Mitsui Sumitomo

Will thereafter proceed towards streamlining the holding company structure

Growth in proprietary channels remains strong

Channel growth should accelerate in Axis Bank, from Jan-2023

FY23 margins should be better than guided earlier owing to favourable product mix.

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