Stocks To Watch: Edelweiss Financial, Ambuja Cements, Sanghi Industries, CPCL, Piramal Enterprises

Edelweiss Financial Services Ltd., Ambuja Cements Ltd., Sanghi Industries Ltd., Chennai Petroleum Corp. and Piramal Enterprises Ltd. will be the stocks to watch before going into trade on Wednesday.

The Reserve Bank of India lifted business restrictions on ECL Finance Ltd. and Edelweiss Asset Reconstruction Co. on Tuesday as the central bank was satisfied with remedial measures put in place by the companies, it said in a media statement.

• Edelweiss Financial Services: The RBI lifted the business restrictions on ECL Finance and Edelweiss Asset Reconstruction Co. as the central bank was satisfied with the remedial measures put in place by the companies.

• Ambuja Cements, Sanghi Industries: Ambuja Cements Ltd.'s board approved merger of its recently acquired subsidiaries—Sanghi Industries Ltd. and Penna Cement Industries Ltd.—with itself through separate schemes of arrangement. The company will issue 12 equity shares for every 100 equity shares of Sanghi Industries. The company will pay Rs 321.5 per share for every one share of Penna Cement.

• Chennai Petroleum: The government has nominated Arvinder Singh Sahney, chairman of holding company Indian Oil Corp., as part-time chairman of the board.

• Piramal Enterprises: The board of directors' administrative committee will hold a meeting on Friday to consider and approve the public issuance of non-convertible debentures.

• Sonata Software: The company launched IntellQA, a Harmoni.AI powered cutting-edge Testing automation and acceleration platform designed to transform software delivery for global enterprises.

• Exide Industries: The company made an investment of nearly Rs 100 crore in its arm Exide Energy Solutions on rights basis. Post investment, the total investment made by the company in EESL stands to Rs 3,152.2 crore.

• Alkem Laboratories: The company, together with its arm Enzene Biosciences, entered into a share subscription and shareholders’ agreement with Sunsure Solarpark Twenty-Two and Sunsure Energy for equity investment in Sunsure Solarpark.

• Va Tech Wabag: The tender for Saudi Arabia's mega sea water desalination plant won by the company in September stands cancelled.

• Cellecor Gadgets, Epack Durable: The company partnered with Epack Durable to strengthen air conditioner manufacturing.

• Aurobindo Pharma: The company's active-pharmaceutical-ingredient manufacturing plant in Telangana run by its subsidiary received two observations from the US Food and Drug Administration.