Stocks in the news: ONGC, Tata Power, Biocon, BDL and Canara Bank

ONGC: In a bid to strengthen its footprint in the renewable space, particularly solar energy, state-owned Oil and Natural Gas Corporation (

) on Thursday signed an agreement with Solar Energy Corporation of India (SECI) to scale up its clean energy projects.

Tata Power: The Tata group firm said it has got shareholders’ approval to amend a scheme of arrangement to keep

Solar Systems Ltd (TPSSL) as an independent entity, contrary to its earlier plan to merge it with itself.



Bharat Dynamics: The defence sector player and Indian Army signed a contract worth Rs 471.41 crore for Refurbishment of IGLA – 1M missiles, BDL said. After the Refurbishment, a fresh lease of life will be given to the missile for a period of ten years. The value of the contract is Rs 471.41 crore.


Biocon: The biotechnology major said its unit has received approval from the US health regulator to market a generic product. Biocon Pharma, a subsidiary of the company, has received approval from the (USFDA) for its abbreviated new drug application (ANDA) for Mycophenolic Acid, the company said.


Garden Reach Shipbuilders & Engineers: The leading Defence PSU is transforming itself to shrug off the warship builder tag to a holistic “global shipbuilder” as it targets commercial ships orders from both domestic and overseas markets, a top company official said


ABB India: The engineering services company said it has completed the sale of its mechanical power transmission division to Dodge Industrial India Pvt Ltd for a consideration of Rs 44.58 crore. Dodge Industrial India is an affiliate of RBC Bearings Incorporated.


Canara Bank: The state owned lender said it has raised Rs 1,500 crore by issuing Basel-III compliant bonds. “The bank received total bid amount of Rs 4,699 crore, out of which full issuance of Rs 1,500 crore was accepted at 8.05 per cent,” said.


Ujjivan Financial Services: Markets regulator Sebi has provided relaxation with regard to the minimum promoter lock-in norm to (SFB) and its promoter Ujjivan Financial Services, for the purpose of their amalgamation.

Bank: The private lender said its Part-Time Chairman G Subramonia Iyer has resigned, on personal grounds. “G Subramonia Iyer, part-time chairman and independent director of the bank, has submitted his resignation from the board of directors of the bank vide his letter dated December 2, 2021,”

Telcos: Spectrum auctions for the 5G services are expected to be held early next year, a top official said. The Telecom Regulatory Authority of India (Trai) has floated a consultation paper for the spectrum price for the proposed auction that is expected to pave the way for 5G services.

Cement Stocks: Retail prices of cement is likely to rise again by another Rs 15-20 over the next few months and touch an all-time high of around Rs 400 per bag this fiscal, rating agency

said. The rise in price has been attributed to inputs commodity cost pressure such as coal and diesel supported by rising demand.

Prataap Snacks: SBI Funds Management sold 9,948 equity shares in the company via open market transaction on December 1, reducing shareholding to 3.39 per cent from 3.43 per cent earlier.

Aarti Industries: HDFC Asset Management Company sold 1,74,221 equity shares in the company via open market transactions on November 30, trimming its shareholding to 3.04 per cent from 3.09 per cent earlier.

Punjab Alkalies & Chemicals: The company approved sub-division of each equity share of face value of Rs 10 each into 5 equity shares of face value of Rs 2 each subject to the approval of shareholders.

Rushil Decor: The company’s medium density fibre board manufacturing unit (MDF plant) at Chikmagalur, Karnataka has again started the commercial operation partially. Further, it will start the regular commercial operation on or before December 6, 2021.

Tantia Constructions: The company has received a Letter of Allotment for a bid value amounting to Rs 6.79 crore from Government of Tripura, against a contract work for ‘construction of RCC Bridge (Length 140 m.) over river Manu on Sonaimuri-Telia road.