Stocks in the news: LIC, JSW Steel, L&T, Adani Power, Paytm and pharma stocks

Life Insurance Corporation: The insurance behemoth witnessed a decline of nearly 20 per cent in death claims in the first quarter of this fiscal with the COVID impact seen to be ebbing, though the amount is still higher than pre-2020 levels.

Larsen & Toubro: The engineering major is committed to work across the green energy value chain and plans to invest up to $2.5 billion over the next 3-4 years. The investment of such a large scale in the green energy sector depends upon how the market evolves.


One97 Communications: Shareholders of the financial services provider, which operates under the Paytm brand, have approved the re-appointment of Vijay Shekhar Sharma as managing director and chief executive officer of the company.

JSW Steel: The steel maker company has entered into a 50-50 joint venture agreement with National Steel Holding (NSHL) for establishing scrap shredding facilities in India. NSHL is engaged in the business of metal recycling, collection and processing based in Auckland, New Zealand.


Pharma stocks: The drug makers

, Strides Pharma and Cipla are recalling products in the US, the world’s largest market for medicines, due to manufacturing issues as per the latest Enforcement Report issued by the USFDA.

Adani Power: The Adani Group’s utility firm said it will acquire DB Power, which owns and operates a 2×600 MW thermal power plant at district Janjgir Champa in Chhattisgarh, at an enterprise value of Rs 7,017 crore for cash consideration.

Brigade Enterprises: The realty firm’s sales bookings rose 70 per cent annually to Rs 813.9 crore in the first quarter of this fiscal on better housing demand. The sales bookings of the Bengaluru-based developer stood at Rs 480 crore in the year-ago period.

Computer Age Management Services: The Great Terrain Investment, a promoter entity, divested a 3.79 per cent stake in the the financial infrastructure and service provider by offloading 18.55 lakh shares at an average price of Rs 2,306.18 apiece, garnering Rs 427.99 crore through an open market transaction, as per bulk deal data available with BSE.

Central : The only public sector lender under the RBI’s prompt corrective action framework, may see an exit from restrictions soon following an improvement in its financial health. The bank has already made a representation to the RBI based on the improvement in financial parameters on a sustained basis for the past five quarters.

Wockhardt: The drug firm said it has tied up with various partners to roll out products in the US market with its Illinois-based manufacturing plant all set to relieve all workers in a phased manner as part of business restructuring in the US market.

IIFL Finance: CDC Group, the development finance institution owned by the UK government, divested a 3.56 per cent stake in financial firm by offloading 1,35,01,587 shares at an average price of Rs 335.64 apiece for Rs 453.16 crore through an open market transaction. as per the bulk deal data available with the NSE.


AstraZeneca India: The drug firm said it has received an approval from the Drugs Controller General of India to market its drug for the treatment of breast cancer. The DCGI has approved Lynparza as a monotherapy for the treatment of adult patients with early breast cancer, who have previously been treated with neoadjuvant or adjuvant chemotherapy.

Tejas Networks: The Tata Group company has acquired the remaining 93,571 equity shares in Saankhya Labs at a price of Rs 454.19 a share by paying Rs 4.25 crore through secondary purchase. With the said transaction, it has acquired 62,51,496 equity shares, or 64.4 per cent stake in Saankhya, for Rs 283.94 crore, on a fully diluted basis.

NHPC: The state-owned hydro power giant announced its plan to develop two hydroelectric projects of 750MW and 450MW in Nepal, for which it has inked a pact on Thursday in Kathmandu. NHPC signed an MOU with Investment Board Nepal (IBN) to develop 750 MW West Seti and 450 MW SR-6 Hydroelectric Projects in Nepal.

Gensol Engineering: The consulting services firm has approved the acquisition of a majority stake in Gensol Electric Vehicles, which will further acquire technical and business know-how, patents, trademark and brand name related to electric vehicles from the US-based company. The company will also raise Rs 140 crore.

Veranda Learning Solutions: The Tamil Nadu Adi Dravidar Housing and Development Corporation (TAHDCO) has signed a memorandum of understanding (MoU) with the E-learning player to train for free students from backward communities in bank and financial institutions.

Kilburn Engineering:

has further brought down its shareholding in by selling an additional 2.92 per cent stake through stock exchanges. The bank has further sold 10,00,000 equity shares representing 2.92 per cent of the paid-up share capital of Kilburn Engineering.