10:03 AM
Gensol Engg locked at 5% upper circuit on securing project of Rs 1,340 cr
In an exchange filing, Gensol Engineering said, “We would like to inform you that the company has in normal course of business, emerged as a successful bidder for a 250 MW/500 MWh Battery Energy Storage System (BESS) tender floated by Gujarat Urja Vikas Nigam Limited (GUVNL).” READ MORE
9:48 AM
Crude Oil: Check key trading strategy on June 13, target price and more
EIA raised its demand forecast for 2024, by 1.1mbpd (May) from 0.9 mbpd (April) and NON-OPEC + supply is expected to expand by 1.2 mb/d in 2024 to average 53.0 mb/d lead by US liquids supply growth for 2024. Global oil inventories fell by an estimated 0.3 million barrels per day (b/d) in the first half of 2024 (1H24), and we expect they will decrease by an average of 0.6 million b/d from 3Q24 through 1Q25. U.S. crude oil production will grow by 2 per cent in 2024 and average 13.2 million barrels per day (b/d) for the year and a further 4 per cent in 2025 READ MORE
9:37 AM
Sobha Rights Issue will open on June 28; stock rallies over 5%
>> Giving update on its Rights Issue plan, Sobha has informed the exchanges that it will issue 12,107,981 Rights Equity Shares each on a partly-paid basis for an amount up to Rs 2,000 crore. The Rights Issue Price will be Rs 1,651 per Rights Equity Share.
>> The record date for the same has been fixed as Wednesday, June 19, 2024. The Rights Issue will run between June 28, 2024 and July 4, 2024.
9:35 AM
US FDA issues 5 observations to Torrent Pharma; stock in red
>> The USFDA, that conducted a pre-approval inspection and a GMP inspection at its Indrad facility from June 3 to June 12, 2024, has issued Form 483 with five observations.
9:34 AM
Bondada Engg hits 5% upper limit on order win
>> Bondada Engineering Limited has received a Letter of Award from NLC India Limited for Balance of System (BOS) work for setting up 600MW Grid Connected Solar Power Project, including the O&M for three years. The project is worth Rs. 939.39 crore.
9:32 AM
Saksoft sprints 13% on executing Share Purchase Agreement to acquire Augmento Labs
>> The company has executed a Share Purchase Agreement to acquire 100 per cent equity interest in Augmento Labs Private Limited. Augmento Labs will become a wholly-owned subsidiary of the company on closure of the transaction.
>> The total cash consideration for the deal is up to Rs 100 crore with an upfront cash consideration of Rs 35 crore, and the balance as earnout consideration based on performance over two financial years.
9:31 AM
Gensol Engineering freezes at 5% upper circuit on order win
>> The company has emerged as a successful bidder for a 250-Mw/500 MWh Battery Energy Storage System (BESS) tender floated by Gujarat Urja Vikas Nigam Limited.
>> It has the potential to generate a total revenue of approximately Rs 2,680 crore over the 12-year Battery Energy Storage Purchase Agreement (BESPA) tenure.
9:29 AM
360 One WAM advances 1.6% on purchase of ET Money
>> 360 ONE WAM has informed the stock exchanges that it has entered into a definitive agreement to acquire ET MONEY.
9:27 AM
L&T Finance rises nearly 4% on block deal
>> According to reports, investment firm Bain Capital and BNP Paribas will likely sell shares worth $180 million (Rs 1,500 crore) of L&T Finance, through block deals, on Thursday.
>> Two entities of Bain Capital — BC Asia Growth Investments and BC Investments VI — along with BNP Paribas Financial Markets, will together sell a 3.54 per cent stake (88.2 million shares) today, the report added.
