Stocks in focus on February 22: Indiabulls Housing Finance, Vedanta, ICICI Bank, IDFC First Bank, Tata Group stocks and many more

National stock indices fell for the fourth consecutive session on Monday, February 21, 2022. The ongoing Russian-Ukrainian conflict, firm crude oil prices and relentless selling by foreign portfolio investors (REITs) continued to put pressure on national actions. The S&P BSE Sensex fell 149.38 points or 0.26% to 57,683.05. The Nifty 50 index lost 69.65 points or 0.40% to settle at 17,206.65. But some stocks made headlines after the market closed. These actions may have an impact on the indices when it reopens on Tuesday, February 22, 2022. List of these actions:

Indiabulls housing finance: The Enforcement Directorate (DE) has requested information regarding certain clients, including related documents for a case related to the 2019 Palghar case from the company. The company provided customer data to ED. Due to the reprieve in this matter, there is no room for further FIRs.

Jagsonpal Pharmaceuticals: The company has received an open offer from Infinity Holdings to acquire up to 68,11,480 fully paid shares with a par value of Rs 5 for each share representing 26% of the share capital with fully diluted voting rights ( “Capital Voting Share”). The open offer is made at Rs 235 per share. The total valuation of the shares stands at Rs 269 crore. Promoter Aresko Progressive Private Limited has sold 43.73% the company to Infinity Holdings on February 21, 2022. Following the share sale, Infinity Holdings will be the new promoter of the company along with Aresko.Infinity will hold a 69.73% stake in the company after the public offering and Aresko Progressive Private Limited will continue to be the promoter with a 21.99% interest in the company.

Vedanta Ltd: On February 21, 2022, the company announced that it had made an oil discovery in its exploration well in the Barmer district of Rajasthan. The company holds a 100% interest in the block. Management Committee approval is pending.

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ICICI Bank: The private sector lender on Monday reached an agreement to invest in shares of Verve Financial Services Private Limited. The bank will acquire 9.49% of the company’s shares for a cash consideration of Rs 20 crore.

Hindalco: Novelis Inc. announced on Monday that it will invest about $5 million to build a recycling center at its Ulsan Aluminum joint venture in South Korea. Fully funded by Novelis, the Ulsan recycling center will have an annual casting capacity of 100 kilotons of low carbon sheet metal ingots.

Mahindra and Mahindra: Mahindra Engineering and Chemical Products Limited (MECPL), a wholly owned subsidiary of Mahindra & Mahindra Ltd, had sold its entire 49% paid-up share capital holding in Mahindra Tsubaki Conveyor Systems Private Limited (MTC) to Tsubakimoto Bulk Systems Corp., for a consideration of Rs 58.89 crores. The sale process was finalized on February 21, 2022.

First IDFC bank: IDFC FIRST Bank MD and CEO V Vaidyanathan offered 9 lakh shares of the bank owned by him worth over Rs 3.95 crore to five people including his coach, housekeeper and driver, to help them buy houses. These five people have no connection with the senior official of the private sector bank. Persons to whom shares are offered:

– Mr. Ramesh Raju ~ Trainers ~ 3 lakh shares

– Mr. Pranjal Narvekar ~ Household helper ~ 2 lakhs stock

– Mr. Algarsamy C Munapar ~ Driver ~ 2 Lakh shares

– Mr. Deepak Pathare ~ Office Support Staff ~ 1 lakh shares

– Mr. Santosh Jogale ~ Household Helper ~ 1 Lakh Shares

Further, the bank said that Rukmani Social Welfare Trust gave away 2 lakh shares to support social activities.

ISGEC heavy engineering: ISGEC has commissioned its large capacity biomass and steam boilers in Thailand. The company has also started up its largest biomass boilers for a bioethanol project in Thailand for GKBI through an EPC company, Sbang Corp Ltd., Thailand.

NHPC LTD. : The company has restarted power generation at Sewa-II Power Plant (3 x 40 MW), Mashka (J&K UT) which had been in complete shutdown since September 25, 2020, due to damage to the Head Race Tunnel ( HRT).

Krishna Diagnosis: The Department of Health and Family Welfare of Himachal Pradesh has awarded the company a tender for the provision of diagnostic/laboratory services in government health facilities of Himachal Pradesh across the country. State of Himachal Pradesh. The duration of the contract is five years from the date of signature of the contract.

CG power: The Bombay High Court has quashed a valuation order of Rs 684 crore relating to the 2018-19 valuation year against the company issued by the IT department.

Tata Group in brief: Bloomberg report, Supreme Court agreed to hear Shapoorji Pallonji Group’s review petition against Cyrus Mistry’s ouster on March 9, 2022. Tata Sons had replaced Mistry as president, less than four years after he took office , in October 2016 .

IndiaMART InterMESH: The company has agreed with Fleetx Technologies to acquire a 16.53% stake for a total consideration of Rs 91.42 crore. Fleetx is a freight and fleet management platform that will help digitize its logistics operations.

Bulk/Bundled Sale

L&T Finance Holdings: BNP Paribas Arbitrage buys 5.79 crore shares at Rs 71.35 per share. Citigroup Global Markets Mauritius Private Limited is selling 5.79 crore shares at Rs 71.35 per share.
Advani Hotels: Delta Corp sells 5.42 lakh shares at Rs 99.4 per share.

Promoter action

Khadim: the promoter buys 14,000 shares on February 17 and 18, 2022.
Chambal Fertilizers & Chemicals: Promoter SIL Investments Limited bought 75,000 shares on February 21, 2022. Promoter Texmaco Infrastructure & Holdings Limited bought 1.9 shares on February 17 and 18, 2022. Promoter Texmaco Rail & Engineering sold 1. 9 lakh shares on Feb 17-18, 2022.

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