Stocks that are likely to record significant movement on bourses today
Laurus Labs: The company announced that it has signed definitive agreements with the sellers i.e. Eight Roads Ventures and VenturEast Proactive Fund and VenturEast Life Fund III, to acquire a 72.55 per cent stake in Richcore Lifesciences Private Limited, a biotechnology company, subject to the completion of the conditions precedent, by way of cash consideration of Rs 246.67 crore. This acquisition marks the company’s entry into the broader biologics and biotechnology segments.
Astral Poly Technik: The board of directors of the company has decided to enter into the business of manufacturing /trading plastic water storage tanks and adding new capacity, with a total investment not exceeding Rs 75 crore. Further, as a part of the company’s strategy to enter into the plastic water storage tank business, the company has executed a framework agreement to identify the assets that it intends to acquire from Shree Prabhu Petrochemicals Pvt Ltd and other parties at Aurangabad (Maharashtra). The company is also adding a new capacity of plastic storage tanks at its existing unit in Gujarat and will commission production in Q4 of the current financial year.
Fine Organic Industries: The company has informed that their new manufacturing facility situated at Additional MIDC Patalganga (Maharashtra) India has started its operations.
Lakshmi Vilas Bank: Lakshmi Vilas Bank will be merged with DBS Bank. Regarding this, Reserve Bank of India (RBI) has issued a press release which states that the amalgamation will come into force on the appointed date i.e. November 27, 2020, and all the branches of Lakshmi Vilas Bank Ltd will function as branches of DBS Bank India Ltd with effect from this date.
Kesoram Industries: Consortium of lenders have given their in-principle approval to the resolution plan of the company formulated under Reserve Bank of India (prudential framework for resolution of stressed assets) directions, 2019 issued by Reserve Bank of India vide its circular dated June 7, 2019.
Cochin Shipyard: The plate cutting ceremony of the two autonomous electric vessels is being built for ASKO Maritime AS, Norway was held on November 25, 2020, at Cochin Shipyard Limited, Kochi.
Prozone Intu Properties: The company through its associate entity has acquired a stake in Gajaanan Property Developers Private Limited for joint development of a greenfield redevelopment project in Oshiwara, Andheri (Mumbai).
Route Mobile: BSNL selects Route Mobile for the deployment of SMS Firewall to identify and monetise their international A2P SMS traffic.
JTL Infra: The company commences commercial production at the recently acquired Mandi Gobindgarh manufacturing facilities.