Stocks To Watch: Kesoram Industries, UltraTech Cement, HAL, Infosys, Wipro, Dixon, M&M, Biocon, L&T, Sonata

• Kesoram Industries: Kesoram Industries announced that its cement business will be merged with UltraTech Cement Ltd. for about Rs 5,379 crore, to unlock its value and deleverage its balance sheet. Under the demerger agreement, UltraTech will issue 1 equity share for every 52 equity shares of Kesoram. About 59.74 lakh new equity shares of UltraTech will be issued to the shareholders of Kesoram.

• Hindustan Aeronautics: The company received nod from the Defence Acquisition Council for the procurement of light combat helicopters for Indian Air Force & Indian Army and light combat aircraft Mk 1A for the Indian Air Force.

• Defence stocks: The government accorded an initial approval to defence acquisition projects worth Rs 2.23 lakh crore, 98% of which will be sourced from the domestic industries.

• Infosys: The IT major announced its collaboration with Shell on immersion cooling services to enable sustainability-first data centres.

• Wipro: The company announced that it is working with Amazon Web Services to redefine the future of lab processes in the life sciences industry.

• JSW Group: The Sajjan Jindal led JSW Group will buy 35% stake in MG Motor India, owned by Chinese automobile manufacturer SAIC Motor.

• LTIMindtree: The company partnered with Metasphere to deliver smart sewers solutions.

• Dixon: Padget Electronics subsidiary inaugurated a new state-of-the-art smartphone manufacturing plant in the Noida district, Uttar Pradesh.

• H.G. Infra Engineering: H.G. Varanasi -Kolkata PKG-10 highway a subsidiary received order from the National Highways Authority of India for construction of the Greenfield Varanasi-Ranchi-Kolkata highway for Rs 1,303.11 crore.

• Mahindra and Mahindra: Jade Hybren Pvt. was incorporated as a wholly-owned Mahindra Susten Pvt. which is a subsidiary of Mahindra Holdings which in turn is a wholly-owned subsidiary of the company.

• ITD Cementation: The company bagged Rs 1,001 crore order for civil and hydro-mechanical work in Andhra Pradesh.

• Balrampur Chini: The company received Rs 33.5 crore income tax notice for AY 2020-21.

• Larsen and Toubro: The company incorporated a new wholly-owned subsidiary – L&T Semiconductor Technologies.

• Biocon: Biocon Biologics a subsidiary of the company has successfully completed the Integration of Viatris Biosimilar Business in 31 countries in Europe.

• CSB Bank: RBI approved an amendment to dilute the schedule of shareholdings of FIH Mauritius Investments to 26% of the paid-up equity capital of the Bank within 15 years from the date of completion of investments instead of 15% as advised by RBI at the time of approval of the investment proposal of FIHM in the year 2018.

• KIOCL:  Manoj Kumar Jhawar has resigned from the post of Director (Finance) & Chief Financial Officer with effect from Jan. 17, 2024.

• PFC: PFC Consulting, a subsidiary has been nominated as the 'Bid Process Coordinator' for selection of developer through tariff based competitive bidding for the Independent Transmission Projects by Ministry of Power.

• Orient Green Power: The company incorporated a wholly owned subsidiary viz, Delta Renewable Energy Pvt.

• Kalyan Capitals: Company's CFO and KMP Arun Agarwal resigned from the company on Nov. 30.

• Himadri Special Chemical: Himadri Clean Energy became the wholly owned subsidiary of the Company w.e.f Nov. 30.

• Future Consumer: NCLT via its order have ceased Future Food and Products Ltd. and Future Food Processing Ltd. to be a subsidiary of the company.

• Primo Chemicals: The company commenced the commercial production of Caustic Soda Flakes at Punjab with an installed capacity of 66,000 Ton Per Annum on Nov. 30.

• Sonata Software: The company has fixed Dec. 12 as the record date, to ascertain the eligibility of shareholders for issuance of bonus equity Shares of the company in the proportion of 1:1.

• Unitech: The Ministry of Corporate Affairs extended the tenure of Yudhvir Singh Malik as Chairman & Managing Director of the company for a further period of two years.

Flair Writing Industries: The offer was subscribed 46.68 times on its final day. The bids were led by institutional investors (115.60 times), non-institutional investors (33.37 times) and (retail investors: 13.01 times). The IPO price is Rs 304 per share.