Friday Stocks to Watch: Due to selling pressure in late trade on the day of the expiry of August derivative contracts, the market finished down in the previous session for the first time in three consecutive sessions. Despite favourable global indications, most important sectors dragged the benchmark indexes lower. The Sensex dropped 311 points to 58,775, while the Nifty50 plummeted 83 points to 17,522.
Syrms SGS Technology
On August 26, the company will make its market debut. The issuance price is set at Rs 220 per share.
Dr. Reddy’s Laboratory
The company’s Srikakulam plant has obtained an Establishment Inspection Report (EIR). The business told the US Food & Drug Administration (USFDA) of an inspection performed at the formulations manufacturing facility (FTO 11) in Srikakulam, Andhra Pradesh, in July. The agency has now declared the examination “complete.”
Intelsat, the world’s top provider of inflight connectivity (IFC), announced the launch of Intelsat’s IFC services in Indian skies via an arrangement with Nelco, India’s premier satellite communication service provider. Nelco has been providing Aero IFC services for over two years and intends to expand these services to new airlines in partnership with its worldwide partners.
Kaleeswaran Arunachalam has resigned from his job as Chief Financial Officer and Key Managerial Personnel. His resignation will take effect on September 2nd, after work hours.
The HDFC Bank
Go Digit Life Insurance and HDFC Bank have signed a non-binding term sheet. The bank would invest between Rs 49.9 crore and Rs 69.9 crore in the firm in two tranches, for an ownership holding of up to 9.944 percent.
Wind Energy Inox
On August 30, the company’s board of directors will discuss money raising. The funds will be raised through a preferred issue or a private placement.
Financial Services Max
On August 23, Max Life Insurance Company received the Commencement of Business (COB) certificate from the Pension Fund Regulatory and Development Authority for its fully owned subsidiary, Max Life Pension Fund Management (Pension Fund) (PFRDA). This company will administer the National Pension Scheme’s pension assets and investment options.
The board of directors has approved a fund raising of Rs 161.50 crore through the issuance of preferential warrants. The money will be used to expand local and international fintech and software businesses, as well as for other commercial objectives. The corporation has made a strategic investment in Gurgaon-based software startup Vishko22 and will hold 50% of the company.
E-Commerce Ventures by FSN
Actress Priyanka Chopra Jonas has announced a partnership with FSN E-commerce, which runs under the Nykaa brand, to launch her haircare brand Anomaly in India.
On higher demand for independent floors, the real estate company expects to generate over Rs 1,300 crore in sales income from its new luxury home project in Panchkula, Haryana. Valley Gardens, a new 34-acre property by DLF, has opened in Panchkula.
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