Stock Market Snapshot 26 June 2024

Reliance Industries has expanded its 1800 MHz band spectrum in two circles. Jio’s Spectrum footprint has increased to 26,801 MHz (uplink +downlink),solidifying its leadership position.

Airtel acquires 97 MHz spectrum in 900 MHz, 1800 MHz and 2100 MHz frequency bands through the auction for Rs 6,857 crore.

JK Cement Ltd has successfully commenced Cement Grinding capacity of 2MnTPA at its newly set up cement manufacturing facilities situated at Prayagraj,Uttar Pradesh.

State Bank of India (SBI),raised Rs. 10,000 crores at a coupon rate of 7.36% through its fifth infrastructure bond issuance.

Bajaj Auto Ltd: Bajaj Do Brasil Comercio De Motocicletas Ltda, the wholly owned subsidiary of Bajaj Auto Limited has set up and commenced the commercial production at its new manufacturing plant at Av. Do Turismo,Bairro Taruma, Manaus, Brazil.

LTIMindtree Ltd has approved appointment of Mr. S.N Subrahmanyan,Non-Executive Vice-Chairman, as the Non-Executive Chairman of the Company with effect from June 27,2024.

NTPC:The Board to consider issue of Bonds/NCDs upto Rs 12,000 crore on 29th June 2024, subject to approval of shareholders in the ensuing Annual General Meeting.

Tech Mahindra likely to merge subsidiary Healthnxt with Tech Mahindra (Americas) as it aims to consolidate businesses.

Adani Ports and Special Economic Zone: Mr. Sushant Kumar Mishra has ceased as CEO­ Logistics due to internal restructuring and Mr. Divij Taneja has been appointed as CEO- Logistics.

Reliance Industries: Reliance Retail likely has started the pilot of immediate delivery of groceries And fast-moving consumer goods products in Certain areas of Mumbai and Navi Mumbai where orders will be fulfilled within an hour.

The Indian Hotels Company likely has signed a new property in Kanpur, Uttar Pradesh. The Taj branded Hotel is a greenfield project with 150 rooms.

Competition Commission of India approves Coforge’s acquisition of majority stake in Cigniti Technologies.

Rattanlndia Enterprises: Mr. Vijay Nehra has Resigned as the Chief Operating Officer (COO) of the Company w.e.f. June 24,2024.

GlaxoSmithKline Pharmaceuticals has received an order from Assistant Commissioner of State Tax, GST Bhavan,Mazgaon, Mumbai, Maharashtra for a Demand worth Rs 71.65 crore for FV20,on premium charges paid to Thane Municipal Corporation in relation to land sale.

Sanghi Industries: Ambuja Cements and Ravi Sanghi (promoter group) to sell up to a 3.52% stake Via Offer for Sale on June 26-27;Floor price set at Rs 90/share.

Tata Steel has acquired 1,25,00,000 equity shares of face value Rs 10/- each aggregating to Rs 12.5 crore (14.28%) in Indian Foundation for Quality Management.

Bank of Maharashtra: ICRA has reaffirmed the Rating for Basel Ill Tier II Bonds of Rs 1,600 crore at ICRA AA+ (Stable).

SMC Global Securities: Members has approved re­ appointment of Mr. Subhash Chand Aggarwal as the Chairman and Managing Director of the Company for further term of five consecutive years with effect from 29th January,2025 to 28th January,2030.

SH Kelkar: Keva Fragrances Industries Pte. Ltd. (wholly owned subsidiary) has further made an additional equity investment of USD 5 million in its wholly owned subsidiary – PT SHKKEVA Indonesia.

Ugro Capital has approved allotment of 3,500 NCDs having face value of Rs 1 lakh each, aggregating upto Rs 35 crore through private placement.

M&M Financial Services: Mr. Vivek Karve, Chief Financial Officer of the company, has tendered his resignation to pursue personal, social and professional interests beyond full-time employment.

Time Technoplast has received an additional order for supply of Composite cylinders (LPG) for total value of Rs 55 crores from Indian Oil Corporation.

Jubilant lngrevia has raised Rs 100 crore through Commercial Paper.

Mazagon Dock Shipbuilders: Department of Public Enterprises has approved the proposal for grant of Navratna status to Mazagon Dock Shipbuilders Ltd.