Buzzing Stocks: Genus Power, Five Star Business, India Pesticides, Navneet Education & Others in News Today


Torrent Pharma, Cipla: Ahmedabad-based Torrent Pharmaceuticals has likely submitted a non-binding bid to acquire the stake of promoters of pharma major Cipla, reports CNBC-TV18 quoting sources. Torrent Pharma may decide on a binding offer in the coming weeks. According to the news report, the company is also holding talks with three to four private equity companies and foreign institutions as it considers several funding options for the offer.

Container Corporation of India: The Central Government has appointed Sanjay Swarup as the Chairman & Managing Director of the company. Sanjay Swarup is currently Director (International Marketing & Operations) at Container Corporation.

Genus Power Infrastructures: The subsidiary has received a letter of award (LOA) of Rs 2,247.37 crore for the appointment of advanced metering infrastructure service providers (AMISPs). The order includes the design of an advanced metering infrastructure (AMI) system with supply, installation and commissioning with FMS of 24.18 lakh smart prepaid meters, system meters including OT meters with corresponding energy accounting under DBFOOT model (hybrid model, capex plus operating expenses). The total order book now stands at around Rs 11,000 crore.

Punjab National Bank: The public sector lender has raised lending rates by 5 bps across tenures. The hike in lending rates is effective from September 1.

India Pesticides: The UP-based agrochemical company is going to buy 11,461 square meters of land adjacent to its existing Sandila plant for setting up a manufacturing unit of pesticides. It has received the allotment letter for the said land from the concerned competent authority and the acquisition of this new land will help the company in capex plans for further expansion of the Sandila plant.

Source : Money Control