Stock Alert : Mankind Pharma, AU Small Finance Bank, VST Industries, Cupid, Texmaco Rail & Infra Engg

Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper

New Listing:

ECOS (India) Mobility & Hospitality will debut on the bourses today. The issue was open between 28 August and 30 August 2024. The price band of the IPO was between Rs 318 to 334 per share. The issue was subscribed 64.26 times.

Stocks to watch:

Mankind Pharma has executed a Business Transfer Agreement to transfer its over-the-counter (OTC) business undertaking on a slump sale basis to its subsidiary, Mankind Consumer Products (MCPPL).

NHPC has signed a memorandum of Understanding (MoU) with the Department of Water Resources (WRD), Maharashtra Government, for the establishment of energy storage systems (pumped storage systems) along with other renewable energy sources (such as solar/wind/hybrid) with a total capacity of 7,350 MW.

PDS' facilities in Bangladesh have resumed normal operations, and normalcy has returned across its partner factories in the region. The company remains positive about medium-term business prospects in Bangladesh.

AU Small Finance Bank has submitted an application to Reserve Bank of India (RBI) seeking approval for a voluntary transition from small finance bank to universal bank.

Cupid is looking to expand its B2C pie substantially moving forward. It aims to achieve the topline target in excess of Rs 50 crore in FY25. The company is also planning to partner with Blinkit and Zepto for better e-commerce presence. It also plans to launch almond hair oil in four SKUs among other products this month.

Torrent Power has entered into a fresh MoU with the Department of Water Resources, Government of Maharashtra, for the establishment of pumped storage projects with a total capacity of 5,600 MW instead of 5,700 MW.

Texmaco Rail &Infra Engineering has completed the acquisition of Jindal Rail & Infrastructure, strengthening its position in the wagons market and expanding its capabilities and product range. The final cash payment was Rs 614 crore, at a valuation of 8.1 times the FY24 EV/Ebitda.

VST Industries has received in-principle approval from BSE and NSE for the issuance and proposed allotment of 15 crore equity shares as bonus shares. The bonus shares will be issued in a 10:1 ratio.