Stocks in the news: HDFC Bank, NMDC, Paytm, Ruchi Soya, Lupin and ICICI Bank

HDFC Bank: The Reserve Bank of India has lifted all restrictions on HDFC Bank, permitting it to launch new digital initiatives, the private sector lender said.

Tech Mahindra: The homegrown IT company will acquire 100 per cent stake in Mumbai-based enterprise application company Thirdware for USD 42 million (about Rs 322 crore) in an all-cash deal, the company said.

ICICI Bank: The private lender said it has raised Rs 8,000 crore by issuing debt securities on a private placement basis. The board of directors of the bank on April 24, 2021, had approved fund raising through issuance of debt securities.

GAIL (India): The State-owned gas utility giant has declared a second interim dividend of 50 per cent (Rs 5 per share) for the current fiscal year ending March 31, 2022. The total dividend payout will be Rs 2,220.19 crore with a record date of March 22.

One97 Communications: The RBI asked Paytm Payments Bank to stop opening new accounts amid “material supervisory concerns” observed in the bank. The bank has also been directed to appoint an IT audit firm to conduct a comprehensive system audit of its IT system.

NMDC: The state-owned mining giant has produced 8.87 million tonnes (MT) of iron ore during January-February 2022, a year-on-year rise of about 13 per cent. According to company data, NMDC had produced 7.72 MT of iron ore during the first two months of 2021.

Hindalco Industries: ICICI Prudential Mutual Fund through its various schemes sold 11.81 lakh equity shares in the metal company via open market transactions on March 9. With this, its shareholding in the aluminium major stands at 3.01 per cent, down from 3.07 per cent.

Lupin: The drug firm said it has received approval from the US health regulator to market its anti-epilepsy drug Vigabatrin for Oral Solution in the American market.

Oil India: The Government headhunter PESB has picked a non-upstream executive, Ranjit Rath to head India’s second largest state oil and gas producer, Oil India.

Jubilant FoodWorks: The master franchise of brands such as Domino’s and Dunkin’ Donuts said its CEO Pratik Rashmikant Pota has resigned. Pota will continue in his current role till June 15, 2022.

Sobha: The Realty firm said its Vice Chairman and Managing Director Jagdish Chandra Sharma has resigned with effect from April 1, citing personal reasons.

Torrent Power: The utility player said it has completed the acquisition of wind energy firm Surya Vidyut Limited from CESC Limited. Surya Vidyut was a wholly-owned subsidiary of CESC Limited with a total capacity of 156 megawatts.

Indian Hotels Company: The Tata Group hotel firm said it has signed a management contract with Deepak Builders and Developers to set up Vivanta hotel in Nashik, Maharashtra, slated to open in 2023.

Ruchi Soya: The Baba Ramdev-led Patanjali Ayurved’s owned edible oil firm will hit the capital market with its follow-on public offer (FPO) on March 24 to raise up to Rs 4,300 crore.

Indian Bank: The state-owned lender said it has declared NPA account Topsgrup Services as fraud for diversion of funds worth Rs 34.08 crore. The NPA Topsgrup Services and Solutions Ltd has been declared as fraud and reported to the RBI.

Redington India: The supply chain solutions provider said it would offer the new iPhone SE and iPad Air on March 18 and customers would be able to pre-order with immediate effect.

IDBI Bank: The LIC owned lender said it has become a stakeholders in the government-promoted bad bank National Asset Reconstruction Company, and will invest over Rs 272 crore to acquire equity stake and subscribe to its bonds.

Nazara Technologies: The digital gaming and sports company through its wholly-owned subsidiary Nazara Technologies FZ LLC has committed an investment of Rs 30 crore in Griffin Gaming Partners Fund II.

DB Realty: The real estate player said its partnership firm DBS Realty has received a letter of acceptance from Municipal Corporation of Greater Mumbai (MCGM) to construct 4,000 tenements.

RattanIndia Enterprises: The diversified commerce player, which recently made a foray into the fintech business, looks to have tie-ups with all the banks by the end of the next financial year. The fintech platform of the company, BankSe, has an arrangement with 21 banks and financial firms to offer loan products.

Dhanvarsha Finvest: The board of the NBFC has approved raising Rs 88.65 crore by issuing equity shares and warrants to non-promoters on a preferential basis.

Reliance Capital: Adani Finserve, KKR, Piramal Finance and Poonawala Finance are among the 14 prominent firms that have expressed interest to acquire debt-ridden NBFC, promoted by the Anil Ambani Group, sources said.

Vikas Lifecare: The polymer products trading firm is planing a capital expenditure of about Rs 120 crore to expand operations, the company said. The company also plans to hire 250-300 people to support its new projects.