Stocks in the news: Wipro, Tata Power, Lupin, Adani Green and TVS Motor

Wipro: The homegrown IT major announced the appointment of Wagner Jesus as country head and managing director for operations in Brazil. Wagner joined

three years ago, taking the lead of the non-financial business cluster.

Tata Power: An arm of Tata Groups utility player has raised $320 million through Sustainability Linked Loans (SLL) to refinance its debt. The SLLs are typically available up to 0.25 per cent cheaper than the conventional loans, finance industry watchers said.

Lupin: The drug maker said it has received approval from the USFDA for Formoterol Fumarate Inhalation Solution, used in treating symptoms of chronic obstructive pulmonary disease. It is a generic version of Mylan Specialty’s Perforomist Inhalation Solution.

Adani Green Energy: Gautam Adani’s renewable energy firm has seen its debt-to-equity ratio balloon to the second-highest in Asia, raising alarm over whether the billionaire’s aggressive expansion plans has over-leveraged his businesses. Its debt-to-equity ratio of 2,021 per cent is only behind China’s Datang Huayin Electric Power, with a ratio of 2,452 per cent.

TVS Motor Company: The two-wheeler firm said it will acquire 48 per cent stake in Narain Karthikeyan’s pre-owned two-wheeler startup ‘DriveX’ for a consideration of Rs 85 crore. The company said it will acquire 48.27 per cent stake in NKars Mobility Millennial Solutions Pvt Ltd (NMMSPL), which operates under the brand ‘DriveX’.

Barbeque-Nation Hospitality: Credit rating agency has upgraded the credit rating for the bank facilities of Rs 15.50 crore of the specialty restaurants chain to A (Stable) and for Rs 5 crore bank facilities, the rating has been upgraded to A2+.


Mahindra Logistics: The logistics solution provider is set to come up with the third and last unit of its warehousing facilities in Luhari in Delhi-NCR region besides adding two more in Bhiwandi and Nashik in the current quarter of this fiscal.

NHPC: The electric utility’s subsidiary

Renewable Energy (NHPC REL), and the Government of Rajasthan have signed a Memorandum of Understanding (MoU) for the development of ultra mega renewable energy power parks in Rajasthan, with an objective is to set up 10 GW ultra mega renewable energy power parks.

Parag Milk Foods: The dairy products player raised a total of Rs 131 crore through preferential allotment from marquee investors and promoters. The company said investors have invested Rs 113 crore and promoters about Rs 18.75 crore looking at the promising growth strategy.

PSP Projects: The civil construction company has received contracts worth Rs 247.35 crore from precast and government segments. With this, the total order inflow for the current financial year 2022-23 stands at Rs 1,344.24 crore.

Vikas Lifecare: The trading and distribution firm has raised Rs 50 crore through qualified institutional placement (QIP) route by allottment and issuance of 10,41,66,666 equity shares to the qualified institutional buyers.

Kiri Industries: LGOF Global Opportunities sold 15,000 shares in the company via open market transactions on August 24. With this, its shareholding in the company has reduced to 5.5 per cent from 5.53 per cent earlier.

Visco Trade Associates: The financial services firm picks up 50 per cent stake in Nayek Paper Industries. The acquisition cost is Rs 1.33 crore. With this, Nayek Paper Industries has become an associate of the company.