Stock Alert: Spicejet, Nazara Tech, Suzlon Energy, Ion Exchange, Godfrey Philips, Repco Home Finance,

Securities in F&O ban :Biocon, Chambal Fertilisers and Chemicals, Aditya Birla Fashion and Retail, Balrampur Chini Mills, Hindustan Copper, RBL Bank

New Listing :

Gala Precision Engineering will list on the bourses. The issue opened for bidding from 2 September 2024 to 4 September 2024. The price band was between Rs 503 to Rs 529 per share. The issue was subscribed 201.41 times.

Stocks to watch :

Nazara Technologies has acquired a 48.42% stake in Paperboat for Rs 300 crore. The company has paid Rs 225 core in first tranche. The remaining balance will be paid in the manner outlined in the agreement.

 

Suzlon Energy has completed the acquisition of 51% of the equity capital of Renom. With the said acquisition, Renom has now become subsidiary of the company.

Spicejet has entered into a term sheet agreement with Carlyle Aviation management to restructure its aircraft lease obligations. The company will issue shares to Carlyle Aviation to convert dues into equity. Carlyle Aviation to purchase SpiceJet shares to settle a part of its dues worth $137.68 million. Restructuring deal with Carlyle Aviation to cut SpiceJet's dues from $137.68 million to $97.51 million. With this, SpiceJet will convert Carlyle Aviation's dues worth $40 million into equity.

ION Exchange India has been awarded contracts from Technimont SPA, Italy, for de-oiling, dimenralisation and condensate poly unit packages for the Hail & Ghasha development project of ADNOC, UAE, totaling approximately Rs 168 crore. The projects are to be completed within 61 weeks from projects award dates.

Thermaxs wholly owned-subsidiary, First Energy Private (FEPL) has entered into a share purchase agreement for the acquisition of 100% stake of Onix-Two Enerseol. OTEPL is acquired for the proposed power projects to be undertaken by FEPL.

Wardwizard Innovations & Mobility has received a letter of Intent (LoI) from his royal highness prince Prince Abdulaziz Bin Turki Bin Talal Bin Abdulaziz Al Saud to form a joint venture in the Kingdom of Saudi Arabia. The company plans to set up two plants to assemble electric motorbikes, three-wheelers, four-wheelers, buses, and EV cells in Saudi Arabia.

Godfrey Philips approved the re-appointment of Bina Modi as managing director of the company for a period of 5 years with effect from 14 November 2024. The company has also approved the appointment of her daughter Charu Modi as a director of the company with effect from 7 September 2024.

Repco Home Finances K Lakshmi tenders resignation as chief financial officer of the company effective from 6 September 2024.

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