Stocks of Infosys Ltd., IndiGo or InterGlobe Aviation Ltd., Vedanta Ltd., and Mankind Pharma Ltd. are going to be in focus on Wednesday.
Here are the notable corporate announcements that came after Tuesday's market hours:
Stocks In News
Infosys: The company expands its partnership with DNB Bank ASA to strengthen financial-crime operations.
- Vedanta: The company clarifies that Enforcement Directorate officials visited certain offices of Vedanta and Hindustan Zinc. The company is extending full cooperation and proceedings are underway.
- InterGlobe Aviation: The company will discontinue flights to and from Manchester effective August 31, citing a challenging cost and operational environment. It also plans to return one of its six Boeing 787-9 Dreamliners to Norse Atlantic.
- Canara Bank: The company approves a capital-raising plan of up to Rs 8,500 crore via bonds in FY27.
- Power Finance Corporation (PFC): The Registrar of Companies strikes off subsidiary PFC Projects, citing lack of future business opportunities. Strike off and Dissolution of Three wholly owned subsidiaries (Deoghar Infra, Deoghar Mega Power, Jharkhand Infra) of Power Finance Corporation Limited.
- NHPC (OFS Update): The government exercises the oversubscription option, increasing total offer size to 6% stake, or 60.3 crore shares.
- Mankind Pharma: The company's arm acquires the remaining 10% stake in Upakarma, taking full ownership.
- Concord Biotech: The company receives US FDA approval for Mycophenolate Mofetil ANDA, used in organ-rejection prophylaxis, with an estimated US market size of USD 30 million.
- John Cockerill India: The company receives an order of around Rs 1,300 crore from JSW Vijayanagar Metallics for commissioning two annealing and coating lines.
- Delhivery: The company will incorporate a new subsidiary, Delhivery Fintech Distribution.
Business Update
Adani Ports & SEZ (May Update)
Handles cargo volume of 48.3 MMT, up 16% YoY
Logistics rail volume declines 19% YoY to 48,170 TEUs
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